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Fight against climate emergency

Bankia is committed to becoming carbon neutral this year

The entity adheres to the Principles of Responsible Banking promoted by the United Nations and has signed the UN Collective Commitment to Climate Action.

Communication Bankia

By  Communication Bankia

Publish on 
20 January 2020 - 12:45

  • The financial institution will continue with its ambitious emission reduction program and will offset the emissions that cannot be avoided
  • The bank has avoided the emission of more than 4,800 tons of CO2 in 2019, a decrease of its carbon footprint by more than 40% compared to 2018
  • The offsetting will be done by acquiring carbon credits from projects that contribute to the Sustainable Development Goal (SDG) 13 Action for climate, among other SDGs
  • 100% of the electricity consumed at Bankia since 2013 comes from renewable sources with a guarantee of origin, thanks to which the emission of 40,500 tons of CO2 was avoided last year

Bankia announced on Monday its commitment to become carbon neutral by 2020 through the continuous reduction of its emissions and the offsetting of non-avoidable emissions.

The offsetting will be done through the acquisition of carbon credits from projects that contribute to the Sustainable Development Goal (SDG) 13 Climate Action, established by the UN, as well as other related and priority SDGs for Bankia such as 11 Cities and Sustainable Communities, 7 Affordable and clean energy and 4 Quality Education.

"The commitment to be carbon neutral is another and fundamental step in the fight against climate emergency. At Bankia, we are committed to sustainability in our business model and work towards growth with full respect for the environment” , said Bankia's chairman, José Ignacio Goirigolzarri.

In 2019, Bankia avoided the emission of more than 4,800 tons of CO2, a decrease of its carbon footprint of more than 40% compared to 2018.

The financial institution achieved this decrease with measures such as the elimination of 900 tons of CO2 thanks to specific paper reduction actions and the reduction of 620 tons of CO2 associated with business trips and 350 tons of CO2 linked to gas consumption. On the other hand, the bank has avoided the emission of more than 2,400 tons of CO2 thanks to the rationalisation of electricity contracts.

Within the frame of its commitment with the environment, Bankia's Responsible Management Committee approved the 2017-2020 Eco-efficiency and Climate Change Plan, which sets out a series of objectives in the field of eco-efficiency, climate change, certified management and environmental training.

These measures aimed at -for instance- reducing greenhouse gas emissions and offsetting its carbon footprint have been recognised with the Calculation/Compensation seal of the Ministry for Ecological Transition.

Since 2013, 100% of the electricity consumed at Bankia comes from renewable sources with a guarantee of origin, thanks to which during the last year the emission of 40,500 tons of CO2 was avoided. Moreover, 86% of its vehicles are hybrid with low CO2 emissions.

The bank also has an environmental management system in its most emblematic buildings in Madrid, Valencia and Las Palmas, which makes them benchmarks of the bank in terms of efficient management.

All of them are certified as per the ISO 14001 standard, which allows companies to show their commitment to protecting the environment by managing the environmental risks derived from their activity.

Principles for Responsible Banking

In addition, the entity lead by Goirigolzarri is one of the 130 signatory banks of the Principles for Responsible Banking promoted by the United Nations and one of the 31 banks in the world that have signed the UN Collective Commitment to Climate Action. Goirigolzarri has also joined the call to action for a 'New Deal for Europe', in terms of sustainability, signed by 250 CEOs from all over Europe.

Within the framework of this commitment, Bankia created the Sustainable Business and Financing Division last august, with the aim of boosting the mobilisation of resources within a framework of activities committed to environmental, social and governance (ESG) criteria, and to promoting investment financing under these same criteria.

With this decision, Bankia reinforced its commitment to sustainable finance and the environmental impact of its activity, while at the same time advancing to the social and economic trends of the coming years, tackling new proposals for products and services that are attractive to its customers.

Nationally, the entity is part of the Forética Climate Change Cluster, the Spanish Green Growth Group, the Spanish Climate Action Platform and the Spanish Observatory for Sustainable Financing.

Internationally, it participates in Earth Hour (WWF) and RE100, created by CDP and The Climate Group, which brings together the most influential companies in the world committed to the use of renewable energy.

The entity also has the recognition of analysts and investors who value the environmental, social and good governance management carried out by the entity. Thus, Bankia is part of the Euronext Vigeo Eurozone 120 index; the FTSE4Good; from the S&P Dow Jones Indices and the Dow Jones Sustainability Index Europe.

Bankia

Bankia consolidates and reinforces its commitment to society through five priority lines of social action: employment and training, housing, local and rural development, disability and the environment. The financial institution focuses its social investment on these areas and maintains its commitment to society through the involvement of its entire structure and professionals. The Responsible Management policy is all-encompassing and approachable, as it links the social actions of the bank with its goals. Thus, Bankia makes a priority contribution to five of the 17 SDGs: Action for Climate (SDG 13), Decent Work and Economic Growth (SDG 8), Quality Education (SDG 4), Sustainable Cities and Communities (SDG 11) and SDG 17, Partnerships to Achieve the Objectives, which is related to all the others.

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