The European Bank for Reconstruction and Development (EBRD) has recognized CaixaBank for its commitment to sustainability in the field of financing with multilaterals with two international awards. The international institution has awarded two foreign trade financing operations within its '2023 Deal of the Year - Green Trade' awards in the categories of ‘Circular economy’ and ‘Renewable energy’. These are examples of CaixaBank's contribution to the promotion of trade in green technologies and materials in the EBRD regions within the framework of the Trade Facilitation Programme, demonstrating CaixaBank’s support to the transition to a green economy.
In the first case, the '2023 Deal of the Year Green Trade in Circular Economy', the multilateral institution highlighted a trade loan granted to a Turkish bank for the import of shears manufactured in Germany in favor of a Turkish company, which allows processing and producing steel volumes with minimal energy consumption and costs.
The second award, the '2023 Deal of the Year Green Trade in Renewable Energy', highlights a trade loan operation to an Armenian bank to facilitate the import of solar panels and accessories from the Netherlands to Armenia.
These awards are a testament to CaixaBank's ongoing commitment to sustainability and its leadership in sustainable foreign trade financing. Since 2023, the entity has promoted an initiative to mobilize sustainable financing in trade finance with multilaterals, developing a specific dialogue with the main multilateral entities globally, leading to a significant increase in sustainable financing in this area.
The bank is a pioneer in the classification of Green and Social Trade Finance, thanks to the verification carried out by multilateral banks of eligible purposes under specific guarantee programs. Between January and April 2024, the figure amounts to US$250 million.
CaixaBank was a leader in sustainable financing in Europe in 2023, according to the Refinitiv ranking. In its 2022-2024 Strategic Plan, the bank aims to mobilize €64 billion in sustainable finance. From the beginning of the plan until the end of the first quarter of 2024, €58.68 billion have been mobilized, which represents a progress of 92% of the total goal.
Collaboration with the EBRD and other multilateral institutions
CaixaBank has been part of the EBRD’s Trade Financing Programme since 2001, reaffirming its commitment to boost trade in emerging countries and offer its clients the best financing solutions. The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents.
In addition, CaixaBank also participates in other foreign trade promotion programs with institutions such as the IFC (World Bank Group), the Asian Development Bank, and the Inter-American Development Bank, among others.
CaixaBank has received the ‘Best Confirming Bank 2024’ award from the IFC this year in the framework of the IFC’s Global Trade Finance Program, an award for its performance in confirming and financing import and export operations worldwide, and recognition of the effort and collaboration of multiple teams within the bank.
About the ERBD
The EBRD was created in April 1991 to 'foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative’. Since then, it has invested over €195 billion in more than 7,000 projects across three continents. It is a climate finance leader and actively supports Ukraine and other countries affected by the war there.
