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Maria José Gálvez, manager of Sustainability at Bankia (first from the left), during the ISR Meeting organized by Spainsif.

Social commitment

ISR Meeting organized by Spainsif

Bankia is committed to products that have a positive impact on climate change

Maria José Gálvez, manager of Sustainability, has shown that the environment is very present in the financial strategy of the entity, as reflected in the Responsible Management Plan.

Communication Bankia

By  Communication Bankia

Publish on 
09 July 2019 - 18:00

Bankia’s Sustainability manager, Maria José Gálvez, highlighted Bankia’s commitment to products that have a positive impact on climate change and underlined that the bank’s strategy has integrated sustainable finance in its Responsible Management Plan since 2015.

During the ISR Meeting organized by Spainsif under the title "Sustainable Finance: Supply and Demand", focusing on retail customers, Gálvez stated that Bankia had the opportunity to create the Responsible Management Plan and to outline the strategic lines for the entity. "We had clear principles, strong values, but we also wanted different products", she assured.

A year later, the bank launched Bankia Consumo Sostenible aimed at the purchase of hybrid or electric vehicles, the purchase of new low-consumption appliances, or home renovations that might improve energy efficiency with the installation of solar panels or condensation boilers, among others.

Bankia’s Futuro Sostenible Fund was launched in 2017 in line with its commitment to the UN 2030 Agenda and the SDGs.

"We have an exciting journey ahead of us and from the point of view of retail banking we must continue to generate more products that have a positive impact on climate change and society", explained Gálvez.

"We need to be able to incorporate the SDGs in our strategies because customers are only going to understand things in terms of impact", she clarified.

One of the issues that was most present during the conference was the importance of aligning financial products with the recent Taxonomy published by the European Commission to regulate sustainable finance.

In this regard, the representative of Bankia said that "taxonomy is very useful to bring order to things and our entity is defining a framework of sustainable products".

For his part, the chairman of the Official Credit Institute (ICO), José Carlos García Quevedo Ruiz, pointed out that "sustainability is going to be increasingly demanding, because investors are very specialised and pay special attention to metrics".

The conference dealt with other topics, such as the profile retail customers, the impact of sustainable funds on the Sustainable Development Goals (SDGs) and what products are sustainable for retail customers: individualised pension plans, green mortgages or sustainable consumer loans.

Bankia is firmly committed to sustainable finance and the environmental impact of its activity. Adherence to the UN Principles of Responsible Banking is a proof of this. This global initiative seeks to foster the relationship between responsible banking and sustainable development, thereby committing financial institutions to contributing to the improvement of society and the environment by supporting the construction of a more sustainable and inclusive world.


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