Bankinter's sustainability strategy is embodied in the multi-year 3D Sustainability Plan, established with the aim of developing responsible management of three business dimensions (economic, social and environmental) in order to generate a triple impact in the geographical areas in which the Group operates. In 2022, the Bank passed the halfway point in the development of the Plan, meeting the objectives set out in the three dimensions, developed along 20 strategic lines.
The Sustainability Policy was approved by the board of directors in March 2021 and aims to contribute, together with the rest of the Bank's internal policies, to sustainable, inclusive and healthy development, based on Bankinter's three strategic pillars: quality, Innovation and technology.
The sustainability and appointments committee is a body with the following duties:
The sustainability committee is the executive body responsible for ensuring the correct implementation of the plan. It is headed by Bankinter's chairman and is made up of the heads of key areas in the implementation of ESG criteria in decision-making throughout the Bank's value chain.
The main strategic milestones achieved this year are detailed below, arranged by area.
The seed of what we understand today as ESG management comes from a solid foundation in Corporate Governance, recognised as excellent by analysts. Bankinter complies with 100% of the applicable recommendations of the Good Governance Code promulgated by the CNMV for listed companies.
The Bank has been integrating the social and environmental expectations of its stakeholders into its management, demonstrating its ethical, social and environmental commitments.
In order to set the principles to guide sustainability management, the Bank has drawn frameworks for action, including most notably Bankinter Group's Sustainability Policy, which serves as a framework for other policies such as those on the environment, human rights, diversity, universal accessibility and financing in sensitive sectors.
Governance is developed along eight strategic lines; the main milestones achieved in each in 2022 are described below.
The Bank's performance in environmental, social and governance matters is reflected in Bankinter's continued inclusion in the most prestigious sustainability indices, such as the Dow Jones Sustainability Index World (which recognises the Bank as one of the twenty-five most sustainable banks in the world) and the Dow Jones Sustainability Index Europe (recognises the Bank as one of the best in Europe).
The Bank is also included in other leading sustainability indices and rankings (FTSE4Good, STOXX Global ESG Leaders, MSCI or CDP) and was included in the Bloomberg Gender-Equality Index, which measures the commitment, practices and policies related to gender equality in companies. It also features in the Sustainability Yearbook 2023, prepared by the analysts S&P Global.
Bankinter is a member of the main international coalitions in the field of sustainability, such as the United Nations Environment Programme Finance Initiative (UNEP FI), and has signed up to the Principles for Responsible Banking, undertaking, among other things, the commitment to align its business strategy with the Sustainable Development Goals (SDGs) and the Paris Agreement.
Bankinter is a member of the main international coalitions in the field of sustainability, such as the United Nations Environment Programme Finance Initiative (UNEP FI), and has signed up to the Principles for Responsible Banking, undertaking, among other things, the commitment to align its business strategy with the Sustainable Development Goals (SDGs) and the Paris Agreement.
In the past year, new policies such as the Environment and Climate Change Policy and the Accessibility Policy were established.
The update of the Environmental and Climate Change Policy was due to the need to adapt it to new legislation, which has been growing profusely in recent years, and to extend its scope to the management of indirect environmental aspects, i.e. the impact of the Bank's financial activity on the natural environment.
Issues on which the Bank had been working but which had not yet been included in the Accessibility Policy have now been included, issues such as digital and cognitive accessibility management and the incorporation of the elderly into the beneficiary groups of social responsibility.
New environmental criteria were also added, and some existing criteria were expanded on regarding the risk policies for the energy and extractive sectors, in particular issues regarding exposure to thermal coal fired power generation, and to unconventional oil and gas and coal mining.
In 2022, integration of the Bank's sustainability strategy into Bankinter Portugal was completed, adapting the 3D Plan to the nature of the country and the business in which it is involved there.
Governance
Public website (customers) – creation of a page with sustainability content
Corporate website - adaptation of content
Sector policies – updating and adaptation
Development of new products and services
Identification and definition of communication strategies with stakeholders
38 initiatives
19 Global
19 Local
Environmental
Integration of management of climate change risk:
Climate rating – Commercial Retail Banking and Corporate Banking
Calculation of the carbon footprint of the loan book
Continuous improvement in the environmental management of Bankinter buildings
Personal loans for energy efficiency
Ecological cards – Merece programme and rPVC cards
Project - Zero Paper Initiative
Membership of the Business Council for Sustainable Development
Lisbon Green Capital commitment
55 initiatives
24 Global
31 Local
Social
Analysis of the creation of a pilot 100%-inclusive branch
Financial education actions for young people
Encouraging the incorporation of junior talent
Creation of a volunteering manual
Increased volunteering by employees
Mental health programme
Promote identification of the needs of society – Social Awards
323 initiatives
13 Global
10 Local
The transition to a more sustainable and inclusive economy in line with the Sustainable Development Goals offers new windows of opportunity to deliver innovative products and services that, in addition to being profitable, generate a positive impact on the community and environment.
In 2022, the Group increased the volume of its sustainable business, both private and corporate, in line with the targets set
Figures in millions of euro |
|
Own sustainable investment funds |
1,098 |
Third-party sustainable-investment funds |
8,667 |
Alternative investment vehicles |
858 |
Green financing for housing |
200 |
Bankinter Sustainability Fund. This fund invests in equities included in the main social and environmental responsibility indexes
Energy Efficiency and Environment Fund. Invests in equities of companies involved in improving the efficiency of energy use and transport, the storage of electricity, automation and the improvement of industrial productivity, reduction of the environmental impact of using fossil fuels and renewable energies.
Bankinter Ethos Fund. This fund promotes social and environmental issues applying financial and non-financial criteria based on an exclusion strategy consistent with principles inspired by the social doctrine of the Catholic Church, in accordance with an ethical approach defined by an ethics committee.
Pension fund managed with sustainability criteria. Bankinter has just made its first premium pension plans available to all investors. These pension plans are invested globally and, like the premium investment funds, are multi-asset. A feature attracting demand from a specific type of investor is that these pension plans will comply with ESG (environmental, social and governance) criteria.
The Bank offers its customers more than 3,400 internationally renowned funds that apply responsible criteria. These funds invest in companies dedicated to renewable energies, innovation and technology and to reducing the impact of climate change, or are present in the main sustainability indices.
Helia Renovables. Since 2017, the bank has been working with Plenium Partners to set up the company Helia Renovables as a venture capital fund. Four funds have been created with total investment (debt plus equity) of more than 2.0 billion euros.
Ecualia Fund. New alternative investment vehicle to offer Bankinter's customers investments linked to sectors that will be an essential element in making progress on the road to achieve the environmental objectives agreed at European level, such as the Net Zero initiative (to which Bankinter is committed through its membership of the Net Zero Banking Alliance, sponsored by the United Nations) or those set at national level for the decarbonisation of sectors through the Integrated National Energy and Climate Plan 2021-2030 (PNIEC).
Efficient home mortgage. Bankinter offers its customers a specific mortgage loan for purchases of new or existing homes with higher energy category certification ratings. This mortgage provides finance for properties that are highly energy efficient. The arrangement fee are waived for customers applying for this type of mortgage.
Financing for the improvement of energy efficiency. The Bank signed an agreement with IESA, leading supplier of applications and technology solutions for property administrators, to launch an innovative initiative to help homeowner associations apply and access Next Generation European funds, to finance energy retrofit projects for residential buildings.
Figures in millions of euro |
|
Financing linked to sustainability |
1,611 |
Financing of renewable energy projects |
470 |
Two types of loans are offered for sustainable financing for companies:
Green loans finance activities with a positive environmental impact, in accordance with the international 'Green loan principles', and are validated by an external body.
And loans linked to sustainability. Unlike Green loans, the sustainability criteria do not relate directly to the use of the loan funds, but to the company's overall strategy in terms of sustainable development and compliance with ESG (environmental, social and governance) criteria, which affect the pricing of the loans.
Over the course of 2022, Bankinter was involved in financing numerous renewable energy projects, including photovoltaic, wind, solar thermal and cogeneration projects.
The Bank adheres to the Equator Principles, a leading international initiative for responsible investment in the financial sector with the objective of evaluating and managing the environmental and social risks of the projects.
In the due diligence processes carried out before formalising financing agreements or of any other nature, and within the scope of the Equator Principles, Bankinter undertakes to assess environmental, social and human rights practices and to act in accordance with the criteria set out in its policies.
In 2022 Bankinter continued to roll out its Sustainability Training Plan, which is developed through various programmes aimed at the Bank's different segments. In addition, a training course on sustainability management was launched for all staff, with the participation of the chairman and members of the management and sustainability committee.
The Internal Audit area carried out a review of the information on environmental and climate change risks made public by the Bank in its various reports and concluded that the disclosure of this information complies with current regulations and is also in line with the sector's best practices.
At Bankinter, the management of social criteria is divided into two main areas: internal social management (with employees) and external social management (with other groups in its social environment).
The Bank is strongly committed to sustaining employment and organically increased its workforce in Spain by 1,000 people between 2012-2022. This commitment is to quality employment and is manifested through the development of advanced people management programmes, such as those related to attracting and retaining talent, work-life balance, human capital development, and health and safety.
The Bank is strongly committed to sustaining employment and organically increased its workforce in Spain by 1,000 people between 2012-2022. This commitment is to quality employment and is manifested through the development of advanced people management programmes, such as those related to attracting and retaining talent, work-life balance, human capital development, and health and safety.
Bankinter continues to develop its inclusion plan 'A bank for everyone', with the aim of making the Bank more accessible, particularly taking into account the needs of people with disabilities and the elderly.
In terms of physical accessibility, the Bank works under the standards of the universal accessibility reference standard UNE 170001, which certifies that its environments are accessible to any disability, both for employees and customers. In 2022 this certification was renewed, expanding its scope to the Terrassa office in Barcelona.
Regarding digital accessibility, the Bank continues to work to make it a reality for all its channels, and the effort has been recognised by Ilunion, which has given its seal of approval to the Bank's mobile application, because it facilitates access and usability for all customers, regardless of whether or not they have a disability.
A signature card and a Bizum system for the visually impaired have been developed, and work has been done to make document content more accessible, as well as to make it easier to navigate within documents and read them. The Bank has also made its video and podcast content more easily accessible through the use of adapted keypad technology and financial graphics with verbalised navigation and interpretation and high contrast colour options.
In relation to cognitive accessibility, Bankinter continues to maintain its firm commitment to disseminating basic financial knowledge through financial education programmes for different groups (children, young people and people with disabilities) and has digital platforms such as Money Town, aimed at secondary and high school students (at the end of 2022 more than 25,000 students were registered) and Game of Traders, aimed at university students (around 8,000 participants).
The due diligence procedure on the implementation of the human rights policy approved by the group in 2018 has been updated. The update consists in an express statement of the Bank's commitment to respect human rights in accordance with all international standards followed by a breakdown of stakeholders identified as vulnerable groups.
The breakdown is in turn reflected in the human rights violation map and a principle of the sustainability policy has been identified for each possible risk category, ensuring that the policy covers all possible violations.
En cuanto a los mecanismos de mitigación, el banco ha implementado los procesos que tiene contemplados en el mapa de riesgos de vulneración de derechos humanos para atenuar los posibles eventos, como la realización de informes de sostenibilidad aplicados a las políticas sectoriales, que contienen criterios excluyentes para la financiación cuando la operación o la empresa produzcan una vulneración de los derechos humanos.
Bankinter's commitment to quality employment has been recognised by Top Employer Spain, which in 2022 placed the Bank in 14th position in the ranking of companies, making it 15 consecutive years in this prestigious index, which evaluates companies that stand out for their working environment, talent acquisition, learning, well-being and diversity and inclusion, among other factors.
The Bank holds its family-friendly company (EFR) certificate, an insignia awarded by the Másfamilia Foundation to companies that have implemented actions aimed at promoting family reconciliation and equal opportunities among their employees.
As part of the initiatives to develop employee well-being, the Bank continues to run the 'Bankinter Takes Care of You' programme, which is inclusive and personalised, to train and raise awareness among employees on the importance of health care.
Bankinter has signed a collaboration agreement with SECOT (Spanish Seniors for Technical Cooperation) with the aim of guiding employees when they are close to retirement, offering them alternatives for that stage; for example, financial volunteering aimed especially at the elderly.
Social investment (LBG)
In 2022, the Bank approved a Social Action Strategy that draws the framework for the Bank's social action work. It lists the social and environmental activities on which it is centred, such as the socio-labour integration of vulnerable groups, financial integration and the preservation and protection of the environment, among others. It also states the types of contribution to be made: in cash, in kind, in time or probono (unpaid), while underlining the need to measure results in order to achieve greater efficiency in the investment that is made.
With regard to corporate volunteering, 14.10% of employees participated in a 'Mueve.te' programme. The Bank wanted to focus its team-building exercises on these social or environmental activities so that, in addition to an internal social cohesion exercise, the activity would have a positive impact on the environment.
Bankinter uses the internationally recognised LBG (London Business Group) methodology to measure, manage, evaluate and communicate the contributions, achievements and impacts of the Bank's social action. In 2022, the Group allocated more than 2.8 million euro to initiatives of social responsibility, according to calculations based on this methodology.
The Bank's Environmental and Climate Change Policy is aimed at enhancing the positive effects that its activity may generate while minimising its negative impacts. The Sustainability area, together with the Bank's sustainability committee, is responsible for overseeing compliance with the principles of this Policy and ensuring its commitment to protecting the environment.
The environmental aspect of the 3D Plan includes several strategic lines relating to climate change, the Bank's environmental footprint and biodiversity.
In 2022 Bankinter approved its decarbonisation strategy, the aim of which is to achieve net zero emissions both directly - an achievement obtained in 2020 - and indirectly, in the latter case through financing to companies and individuals.
The aim is for the bank to be fully greenhouse gas neutral by 2050, with interim targets at 2030, and with a strategy that is implemented through the Bank's Risk area.
As part of the decarbonisation strategy aimed at emissions from the Corporate Banking loan book, Bankinter is following a path of progressive adaptation to the targets set towards the reduction of financed emissions, in line with the Paris Agreements and Spain's National Integrated Energy and Climate Plan (PNIEC). The indicator used as a reference is the emissions financed per million euro invested, and compliance with the targets set is monitored on a monthly basis.
The conclusion of this measurement exercise indicates that the Bank's starting point is better than that of the sector, as it has a corporate finance portfolio where higher emission sectors bear low weight and there is a significant presence of renewable energy projects.
In order to guarantee the continuous improvement of its impact on the environment, Bankinter has set up an Environmental Management System (EMS), certified in accordance with the UNE EN ISO 14001 standard. This is a tool used to study the impact of the organisation's activities on the environment and helps an organisation achieve its environmental objectives in a systematic and documented manner.
Currently included in this certificate are the four unique buildings the Bank owns in Madrid (Paseo de la Castellana, Tres Cantos and the two in Alcobendas), the building in Barcelona, the building in Bilbao and the so called Sustainable Office in Madrid. In 2022 the scope of the certificate was extended to include the main branch in Valencia.
The Bank seeks to support its customers, advising them and keeping them informed of new market trends and any new regulations that may affect their business. Therefore, in 2022, a completely free training was made available to small and medium-sized enterprises to provide them with all the information they need to calculate and manage their carbon footprint.
Once again this year Bankinter collaborated in and financed the environmental entrepreneurship and innovation events (the Green and Circular Weekends) held in Madrid. These are innovation meetings for the circular economy and sustainable business, where people learn how to launch new ideas, circularise existing models and come into contact with agents in the sector, organised by Enviroo.
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