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Social commitment

This basically impacts responsible financing of projects

Bankia adopts the ‘Equator Principles’ to reinforce its social and environmental commitment

The Equator Principles are the international frame of reference for financial institutions in the development of procedures and practices that contribute to a better management of environmental and social risks.

Communication Bankia

By  Communication Bankia

Publish on 
01 August 2018 - 11:15

  • The bank has adopted the Equator Principles as a tool for the management, evaluation and monitoring of risks in the responsible financing of projects
  • As well as project finance operations, the ‘Equator Principles’ impact activities such as project finance advisory services, project finance, project-related corporate loans, and bridge loans
  • Bankia’s social and environmental commitment is part of the its responsible management model

To strengthen its social and environmental commitment, Bankia has adopted the ‘Equator Principles’. They are a globally-recognized benchmark for the financial industry to establish, evaluate and manage the environmental and social risks derivatives of the financing of projects.

Institutions make a public commitment to implementing the EPs in their policies and procedures, contributing to better environmental and social management in the company.

They also commit to establishing a reference framework for taking financing decisions by for determining, assessing and managing significant environmental and social risk in projects.

By adopting the Equator Principle, Bankia has a tool for the management, evaluation and monitoring of risks in the responsible financing of projects.

In late 2017, Bankia created the the Special Projects Admission Directorate for the centralization of the admission analysis and monitoring of operations segmented as ‘special financing’, aimed to unify both credit and social and environmental criteria. The objective is to unify credit, social and environmental criteria for this type of operations.

The Equator Principles are applied to expansion or upgrade of new or existing projects for activities such as project finance advisory services, project finance, project-related corporate loans and bridge loans.

Responsible management model

They are part of the bank’s responsible management model, which goes beyond the mere achievement of economic results. “Bankia understands that the sustainability of any business project is not supported by results alone, but by how they are obtained”, said David Menéndez, Director of Reputation and Corporate Social Responsibility at Bankia.

The entity's commitment to Society is one of the pillars of the Bankia management model, which encompasses "continuing to work for the sustainability of our environment, both through the optimisation of our consumption and through the development of banking products and the financing of projects that contribute to environmental goals", said Menéndez.

As well as this initiative, Bankia also markets several products with social and environmental goals.

The first of these products launched by the bank was the Sustainable Fund, a global, variable investment fund with a recently-defined socially responsible investment strategy called ‘impact investment’, which seeks financial profitability and measurable positive social and environmental impact.

The second product focuses on the advantages of acquiring consumer products that foster energy efficiency, the fight against climate change, and sustainable growth.

The loan, marketed as the Crédito Sostenible (Sustainable Credit), is aimed at individuals and self-employed persons to buy eco-friendly vehicles, new, low-consumption electrical appliances, efficient machinery or home and premises renovations that involve energy saving.

The product, with a TIN of 4.75% has no set-up fee and repayment periods of up to eight years for loans of up to 60,000 euro.

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