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Sustainable financing

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Bankia is committed to a sustainable approach in its activity and is aiming to become a benchmark in terms of sustainable financing.

Sustainable Business and Financing Division

Investment boost ASG

Bankia created the Sustainable Business and Financing Division in 2019, with objectives such as boosting the mobilization of resources within a framework of activities committed to environmental, social and governance criteria.

During 2019, this Division worked on the definition of a sustainable financing framework that laid the foundations for the creation and promotion of 'green' products and services. In this context, it analyses the financing opportunities that are opening up in the world of businesses and individuals in the face of the transformation towards a low-carbon economy.

In parallel, the entity is also integrating climate risk management into its governance and risk maps, and it observes the regulatory advances in this area in order to be in line with the requirements established at each moment in time.

ESG-Oriented products

To promote sustainable consumption and investment in companies and among the self-employed and households, Bankia’s product offering includes products such as the Sustainable Credit facility, the Sustainable Business Loan, hybrid or zeroemission vehicle leasing, and special insurance for solar PV installations and for farmers.

Other sustainable products include the Bankia Futuro Sostenible Fund, the Bankia Futuro Sostenible Mixed Fund, and the Valores Responsables Guaranteed Fund.

With the aim of providing a differentiated range of sustainable financing, in 2018 Bankia signed a pioneering agreement with the European Investment Bank (EIB) to co-finance the construction of low-emission, energy-efficient residential buildings with an environmental sustainability certificate. This is the first time the EIB has promoted this type of mortgage in the European Union.

The collaboration with the EIB was extended with the creation of a line of credit for the hotels and restaurants sectors to finance investments that entail energy savings or the use of renewable energy, offering attractive terms thanks to the EIB funding.

The bank also entered into a number of financing arrangements in 2019 that include financial clauses linked to the achievement of certain sustainability goals or indicators, so as to give clients incentives to meet sustainable targets.

In Project Finance, where it has its own specialised team, Bankia financed investments in renewable wind, solar PV and solar thermal energy, applying the Equator Principles, and acted as bookrunner for sustainable bonds issued by certain clients.

In the fields of corporate finance, project finance and real estate development finance, in 2019 Bankia financed transactions for a combined total of more than 900 million euros, helping to mobilise sustainable financial resources totalling almost 9 billion euros.

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