Calle Pintor Sorolla 2-4
46002 Valencia

Tel: 902 11 05 82
Fax: +86-10-66223833



  • MSCI Ranting ESG (2015): AA
  • CDP (2013): A-




Eugenio Solla


  • #1 entity in Gender Equality 2021 (Bloomberg)
  • #7 most sustainable bank in the World in the Dow Jones Sustainability Index
  • Highest-rating (A+) in Sustainable investment (PRI)
  • Best practice in diversity management 2020 (Big Company category) for Wengage programme (Fundación Diversidad)
  • Regional Leader in Europe in Gender Diversity 2020 (20-50 managers category) for CaixaBank AM (Citywire)
  • Best Social Bond (Bank) 2020 – Environmental Finance
  • Best Bank for Corporate Responsibility in Western Europe 2019, 2016 (Euromoney)
  • Recognized as one of the TOP 10 most sustainable banks in the world in the Dow Jones Sustainability Index
  • Recognised by CDP as one of the world’s best for tackling climate change (A- list)
  • European Seal of Excellence +500 with a score of more than 650 points (EFQM: European Foundation for Quality Management)



Report created by Ellie Weiss


SECTIONS :  Sustainability Targets    Evaluation  •  Key Points  •  Overview

Company Activity

CaixaBank is a Spanish multinational financial services company owned by CrtieriaCaixa. It is based in Valencia, Barcelona, and Madrid, Spain, and has a total of 5,397 branches. 

The bank has segments covering Banking & Insurance, Equity Investments, and Business Process Improvement (BPI). Their Banking & Insurance segment includes retail banking, corporate baking, cash, markets, life insurance, pensions plans, and general insurance products. The Equity Investments segment works on the equity investment business and the BPI segment comprises all businesses under the BPI group. 

CaixaBank also contains universal banking and insurance activities of the La Caixa group, Repsol’s stakes in oil and gas, as well as Telefonica’s telecommunications business.

Company Sustainability Activity

Through the bank’s environmental Strategy and environmental Management, they have been able to be carbon neutral since 2018.

Caixa Bank has accelerated its transition to a low carbon economy by financing sustainable projects, managing climate change risk, and reducing the direct impact of its operations. Both the Environmental Risk Management Committee and the Corporate Responsibility and Reputation Committee coordinate the implementation of the environmental strategy. 

Their policy is broken down into 5 areas:

  1. Driving sustainable business: generating green production
  2. Managing ESG and climate risks: integrating ESG risks into risk management
  3. Minimizing the impact on the environment: reducing the carbon footprint through environmental efficiency and carbon offsetting initiatives
  4. Public commitment: statement on climate change 
  5. Transparency: reporting to the public

Their environmental and energy management system allows the bank to reduce its environmental impact, ensuring continuous improvement. The system is certified by the EMAS regulation, ISO14.001, and ISO50.001. 

The bank’s Environmental Risk Management Committee and Corporate Responsibility and Reputation Committee tracks a set of environmental activity indicators to measure the bank’s efficiency in terms of consumption and its impacts. 

The system is made of 5 focus areas:

  1. Carbon Neutral Strategy: minimizing, and offsetting all calculated CO2 emissions
  2. Environmental efficiency measures and certifications: minimizing the bank’s impact, implementing new energy-saving measures, and renewing certification and environmental commitments
  3. Extending the environmental commitment to the value chain: action plans for suppliers to assume our environmental values as their own and comply with the acquired commitments
  4. Driving sustainable mobility: actions encouraging sustainable mobility to minimize the emissions of the company, staff, and suppliers
  5. Commitment, transparency, and engagement: engagement actions with employees and reinforcing the commitment and public environmental information


  • CaixaBank electricity initiatives support the production and consumption of renewable energy
  • They lower their paper footprint by implementing paper-saving initiatives and reusing and recycling the rest of the paper still used
  • They use multiple forms of water-saving technology to lower their consumption
  • All waste is recorded and multiple practices are put in place to reuse and recycle as much waste as possible
  • Through initiatives like electric vehicle charging stations and an employee car-sharing system they lower their transportation emissions


  • Reduce CO2 emissions by an additional 34% in 2021 
  • Save an additional 15% of the energy consumed in 2021, compared to 2015
  • Make 100% of purchases meet their green criteria in 2021


  • Reduced CO2 emissions by 63% in 2020
  • Offset 100% of emissions since 2018
  • 100% of their energy consumed has been renewable since 2018
  • Saved 18.8% of the energy consumed in 2020, compared to 2015
  • Renewed all of their environmental certifications since 2018
  • 75% of their purchases met green criteria in 2020 compared to 50% in 2019
  • In 2020,  reduced electricity consumption by 7.4% compared with 2019

Electricity initiatives

  • 99.34% of the energy consumed at CaixaBank comes from renewable sources (as per the Guarantee of Origin certificate)
  • The domotics project monitors power consumption at their corporate buildings and across the branch network, evaluates the energy savings achieved through the measures in place, and defines new efficiency initiatives
  • Rolled out the following initiatives across the branch network based on the savings potential: replacing fluorescent lighting for LED lighting; replacing existing air-conditioning equipment for more efficient technology; installing motion sensors and automatic light-off systems; installing single off switches for alarm connections; installing hibernation/sleep mode devices for peripheral equipment, replacing IT equipment, and more
  • Two Data Centres (DCs) have earned silver and gold LEED certifications, respectively

Paper Initiatives

  • Implemented the digitization project, by means of which all processes can now be signed digitally
  • Developed other paper-saving initiatives across the branch network: such as the ATMs, which allow users to make cash deposits without using an envelope and view information on-screen rather than printing a receipt; the reduction of pre-printed sheets, etc
  • Completed the project to centralize and identify print-outs at corporate buildings and to reduce the number of printers across the territorial network to accelerate the reduction of paper consumption
  • Turned invoicing into a fully electronic process
  • Recycled paper accounts for almost all paper consumption: equivalent to 97.5%
  • Release publications on FSC and PEFC-certified papers

Water Initiatives

  • The water consumed by their branch network is for sanitary use: they have replaced traditional taps with sensor taps and toilet cisterns with smaller capacity cisterns and dual flush systems
  • Installed cutting-edge technology at flagship buildings to optimize water consumption associated with cooling and air-conditioning processes
    • Data processing centers now feature waterless free-cooling technology, while evaporative cooling towers at the corporate center in Barcelona have been replaced with adiabatic cooling towers, which consume much less water

Waste and the circular economy initiatives

  • The selective waste collection allows them to valorize and recycle waste
  • At the corporate buildings, waste is recorded and managed by authorized waste management companies
    • Within the branch network, all toner and maintenance work waste is collected and recycled Municipal selective collection containers are used for the other types of waste (which is why the amounts generated cannot be measured)
  • In addition, they launch regular awareness campaigns for their teams to reduce consumption and therefore the volume of waste generated
  • Electronic equipment has been donated to non-profit organizations since 2013 under their Comprehensive revalorization plan for technological equipment
    • The plan was extended to include branch furniture in 2020
  • The coffee shops at the Corporate services building do not sell or use single-use plastic containers
  • Expired or damaged bank cards are collected by the branch network and delivered to waste management firms so that the PVC and metallic elements can be recycled

Sustainable mobility initiatives

  • Encourage the use of videoconferencing
  • Installed electric vehicle charging stations and private bicycle bays at various corporate centers
  • Have a plan underway to change the company fleet to hybrid
  • Developed the Internal employee car-sharing scheme at the territorial centers
  • Tested a pilot last-mile package delivery scheme through the use of electric scooters
  • The travel booking system now includes carbon emissions counters to raise awareness
  • Reduced the number of trips carried out by the team thanks to teleworking


UN Sustainable Development Goals

UN SDGs Compliance

SDG 1: No Poverty

  • “La Caixa” Corporate Volunteering Programmes
  • Social Initiatives Weeks at CaixaBank
  • Collaboration with the “la Caixa” Banking Foundation

SDG 3: Good Health and Well-Being

  • Collaboration with GAVI Alliance through the “la Caixa” Foundation for child vaccination in developing countries

SDG 4: Quality Education

  • Training for vulnerable groups through MicroBank and the Association and Volunteers
  • CaixaBank Futuro meetings to raise awareness about savings and pension schemes

SDG 5: Gender Equality

  • CaixaBank Equality Plan

SDG 7: Affordable and Clean Energy 

  • Financing renewable energies
  • Signatory to sustainable initiatives in Spain and abroad

SDG 8: Decent Work and Economic Growth

  • Contributing to economic development through CaixaBank Companies, CaixaBank Businesses, AgroBank and Entrepreneur Banking

SDG 9: Industry, Innovation and Infrastructure

  • Value proposals for self-employed professionals, businesses, and SMEs 
  • Sponsor programs that drive entrepreneurship
  • Investment in technology and development

SDG 10: Reduced Inequalities

  • Financial education workshops in collaboration with ”la Caixa” volunteers, MicroBank, and social welfare organizations

SDG 12: Responsible Consumption and Production

  • Eco-financing lines 
  • 2016-2020 Environmental Plan (including the goal of being Carbon Neutral in 2018)

SDG 13: Climate Action

  • Active participation in the Spanish Green Growth Group 
  • Eco-financing lines and financing for renewable energies

SDG 17: Partnerships for the Goals

  • Strategic alliance with the “la Caixa” Banking Foundation
  • Presidency of the Spanish Network of the United Nations Global Compact, and Board member of the Spanish Green Growth Group
  • Collaboration with social welfare organizations (through MicroBank, the Corporate Volunteering Programme, among others)


CaixaBank has a very strong alignment of its policies and initiatives with the UN SDGs. Through their management systems and strategies, they display a commitment to sustainable business and towards constantly improving their current practices. Their extensive practices have allowed them to be carbon neutral since 2018.

The bank has numerous awards which directly relate to sustainability. They also hold certifications and listings to give their work further credibility. 

They do report on their progress and disclose some targets; however, there is still some room to elaborate on future plans and goals. CaixaBank also lacks current reporting, as most information on this report is coming from 2017 and 2018. 

CaixaBank has a somewhat outdated sustainability report as well as unthorough target reporting. However, the bank published the 2020 Socio-economic Impact and Contribution to SDGs Report that discloses its environmental, social and governance finding for 2020.

Therefore, the company has been rated a B.

Analyst Outlook: Neutral

Because of their extensive initiatives directly correlating with the UN SDGs as well as being a carbon-neutral company, CaixaBank shows its commitment to sustainability. 


Key Points

  • Their Environmental Strategy clearly outlines the focuses and commitments to sustainable practices 
  • The Environmental Management policies help track and set goals to continue improving 
  • Create initiatives on a range of sustainability-related topics, such as water use, transportation emissions, and renewable energy use
  • They issued a green bond in 2021 worth €1 billion supporting SDG 7 and 9
    • This is their fifth bond aligned with the SDGs since 2019
    • These bonds have supported social issues, COVID-19 effects, and renewable energy investments
    • The new bond will avoid the release of 1.2 million tonnes of CO2 per year 
  • The bank will cease all use of virgin plastic in the production of their cards
    • Throughout 2021, 85% of the new cards are expected to be made from sustainable materials like recycled PVC and PLA
    • This lowers the waste in production as well as lengthening the life span of the cards so fewer need to be produced 
  • They clearly align their projects and initiatives up with the UN SDGs 
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