Banco Sabadell



Financial Services






S.A. Avenida Óscar Esplá,
37, 03007 Alicante

Tel: +34 935 202 910
Fax: +(0034) 937485019



  • #1221 Global 2000 2021
  • #1391 Sales in Global 2000 2021
  • #143 Assets in Global 2000 2021
  • World’s Best Banks 2020



Director of Sustainability & CSR

Carine Cavallier





Report created by Georgie Murrin


Banco Sabadell

SECTIONS :  Sustainability    Evaluation  •  Targets  •  Key Points  •  Overview


Company Activity

Banco de Sabadell, S.A. is a Spanish multinational financial services company headquartered in Alicante and Barcelona, Spain. It is the fifth-largest Spanish banking group. It includes several banks, brands, subsidiaries, and associated banks.

The private banking group contains a network of banks, brands, subsidiaries, and affiliated companies that cover all areas of the financial business under a common denominator: professionalism and quality.

Banco Sabadell is equipped with the most modern technological and commercial resources and a multibrand and multichannel customer-focused organization enabling Banco Sabadell to hold a leading market position in personal and business banking.

Company Sustainability Activity

Since the 2015 Paris Agreement, Banco Sabadell claims they have been working to reform their strategies to align with this agreement as well as the SDGs. They advocate for a ‘strong commitment to sustainability’, as sustainability has “become part of Banco Sabadell’s purpose and business strategy”. 

This transformation process has been carried out in recent years, based on digitization and new information technologies, the changes involved in the transition towards a sustainable economy and development have been incorporated.

Banco Sabadell’s commitment to society dates back to 1881 when the Bank was founded, and is an essential part of its DNA.

The Bank has always carried out its activity in an ethical and responsible manner in order to ensure a positive impact on people and the environment. 

And now, based on the Paris Agreement of 2015 and the United Nations’ Sustainable Development Goals, Banco Sabadell is taking that commitment one step further, guiding their activity, organization, and processes with the purpose of contributing strongly to sustainability and the fight against climate change.


  • Banco Sabadell claims they have always carried out their activity in an ethical and responsible manner, to ensure a positive impact on people and the environment
  • In recent years their shift has focused around the Paris Agreement and supporting SDGs
  • 2000: Responsible investment; the first ethical and supportive pension plan in Spain, with over €952 million of assets under socially responsible investment mandates
  • Circa 2004: they committed to the environment; power consumption outsources to Nexus renewables, with 100% renewable origin guarantee 
  • Circa 2010: commitment to society, through the creation of Sogeviso, a subsidiary of Banco Sabadell that engages in the social management of housing. 
  • 2017: Banco Sabadell achieved diversity and gender equality from the Spanish Government.
  • 2019 was a turning point year with the creation of the Sustainability division
    • Which concentrates the activity of the former Corporate Social Responsibility (CSR) Division and coordinates, in a cross-cutting way, with the matters related to ESG (Environmental, Social and Governance) criteria within Banco Sabadell 
  • Incorporation of the SDGs
    • Placing the SDGs at the heart of its strategy for the coming years, incorporating the SDGs that are material and a priority for the Bank in the development of its activity
  • They adhere to the United Nations’ principles for responsible banking 
  • Ratification of the Collective Commitment to Climate Action, within the framework of the United Nations Conference on Climate Change (COP25), held in Madrid
  • Finally, 2019 brought about the preparation of the sustainable finance plan, which is being developed by a working group of twenty representatives within Banco Sabadell’s divisions
    • Incorporating sustainability cross-cutting into the business model
    • Risk management and assessment
    • And the relationship with all stakeholders, so that Banco Sabadell’s contribution to sustainable development becomes a reality
  • They are party to an agreement between the Spanish Banking Association (AEB), the CNMV and the Bank of Spain to carry out a program of activities as part of the National Financial Education Plan


  • Continue to incorporate the SDGs into their business model
  • Expand the work they are doing across their chosen focused SDG’s with the following;
    • Green bonds will target projects with environmental benefits, such as the reduction of greenhouse gas emissions, pollution prevention and climate change adaptation
    • The categories in this area prioritise renewable energy, pollution control and prevention, sustainable water management, clean transportation, energy efficiency and green buildings
    • Social bonds focus on generating benefits that provide access to essential services, facilitate social inclusion and promote the generation and maintenance of employment
    • Sustainability bonds finance a combination of green and social activities

The Bank has adapted its governance model and organizational structure to focus on sustainability. In March 2021, the General Shareholders’ Meeting approved the creation of the Strategy and Sustainability Committee, a new Delegated Board Committee with the aim of:

  • Monitoring the execution of the sustainability strategy.
  • Reporting regularly to the Board on matters related to the sustainability strategy.
  • Reviewing the sustainability and environmental policies.


  • 2018: The first ethical and supportive pension plan in Spain
  • Transitioned to 100% power consumption from renewables
  • In 2018, Banco Sabadell aligned its strategy with the SDGs and Paris agreement, which led to the board of directors appointing a strategy and sustainability commitment approved by shareholders
  • This led to the launch of the sustainable finance plan, as well as the deployment of the sustainable finance plan


  • Environmental management systems at six corporate headquarters certified to the ISO 14001standard
  • A Partner in the European Greenbuilding Programme for sustainable construction, Certification of Polinyà logistics centre
  • LEED NC (New Construction) sustainable building certification for the new Banco Sabadell Central Services building

UN Sustainable Development Goals

UN SDGs Compliance

In June 2019, the Board of Directors approved the Sustainable Development Goals (SDGs), placing them at the heart of Banco Sabadell’s strategy for the coming years, and making them a priority for the Bank in the development of its activity.

SDG 1: No Poverty

  • Banco Sabadell is working towards this goal by creating job programs, such as Sogeviso and Worldcoo

SDG 4: Quality Education

  • Banco Sabadell is working towards quality education by focusing on financial education 

SDG 5: Gender Equality

  • Banco Sabadell reformed their gender policies back in 2018, and their progress was recognized by the Spanish Government who granted them an award 

SDG 8: Decent Work and Economic Growth

  • Banco Sabadell is working towards this goal by providing employees with long-term employment contracts as well as some indefinite contracts
  • Additionally, they are working towards sustainable economic growth as of 2019, with finalized goals and plans emerging in the coming years to outline their sustainable economic growth potential 

SDG 10: Reduced Inequalities

  • This goal is centered around their Sogeviso jobs program to reduce inequalities and enhance the job market 

SDG 11: Sustainable Cities and Communities

  • Banco Sabadell is working towards this goal by building sustainable buildings to work in and promoting mobility 

SDG 13: Climate Action

  • This overall goal is being achieved through the above goals outlined, as well as Banco Sabadell inverting and financing renewables to further work towards reducing their ecological footprints 

SDG 17: Partnerships for the Goals

  • They have included relevant SDGs in their report, which demonstrates their partnerships, however, there is little mention of goals related to the SGD’s
  • They do state that they have had a positive impact on employee payments and income tax payments.


In 2018, Banco Sabadell took a number of steps to formalize its approach to sustainability, and it has now become part of  Banco Sabadell’s purpose and business strategy.

The transformation process carried out in recent years has been based on digitization and new information technologies, and a shift in the transition towards a sustainable economy and development.

This transition, guided by the Paris Agreement and the United Nations’ Sustainable Development Goals, promotes organization and processes with the purpose of contributing strongly to sustainability and the fight against climate change.

The result of which has led to positive changes within the company, such as their sustainable pension scheme, recognized commitment to diversity, outsourcing of 100% renewables, creation of Sogeviso (engagement with social housing management), and finally their sustainable finance plan.

Prior to 2018, Banco Sabadell claimed sustainability was at the forefront of their business strategy, however, there were few results or commitments to show for it. In recent years, since hiring a sustainable director board, and alignment to the SDGs and other commitments, there has been a vast positive increase through all three pillars of sustainability. 

The Bank recognizes these and divides their progress accordingly between, environmental, social, and governance. As well as working towards these three pillars, Banco Sabadell has recognized which SDG goals are applicable to their company, and have set these as a priority. 

However, where they fall short is their lack of detail, relating their company to these goals and how they are going about them. Additionally, the bank lacks a full sustainability report, the above information is spread out among their website, yet they would benefit from a published report to condense the above supported with empirical data. 

Banco Sabadell has several recognizable awards and partnerships with certificates and programs, yet lack their own sustainable certificates rather than merely signatories to these programs.

For this reason, Banco Sabadell has been rated a C. 

Analyst Outlook:  Neutral

Based on the above, this analysis suggests they are rated ‘neutral’. Their commitment to sustainability and progress over the last few years is impressive and illustrates they are heading in the right direction, however, the lack of a report and outlined goals, results in the stated rating.


Key Points

  • Banco Sabadell divides their progress accordingly between, environmental, social, and governance
  • Banco Sabadell has elected SDGs to work towards, both primary and secondary goals and has outlined how they are working towards these, however need more detail and empirical evidence to support these goals
  • The bank lacks a fully published sustainability report
  • Banco Sabadell has several recognizable awards and partnerships with certificates and programs, as well as an abundance of awards to illustrate their efforts

Banco Sabadell’s commitment to Sustainability is materialised through adherence to different international initiatives and pledges, as well as through obtaining various awards, certificates and qualifications.

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