These are loans linked to ESG (Environmental, Social and Corporate Governance) criteria, where conditions vary depending on the attainment of sustainability objectives. An external adviser carries out an assessment and sets the objectives, complying with Sustainability Linked Loan Principles.

These are loans with a positive environmental impact, whose underlying is eligible projects or assets, in areas such as renewable energies, energy efficiency, sustainable transport, emissions reduction, waste treatment and sustainable building, which comply with the Green Loan Principles (GLP) issued by the Loan Market Association.

As part of our commitment to combating climate change, we support environmentally-friendly initiatives that contribute to preventing and mitigating climate change and the transition to a low-carbon economy, mainly by funding renewable energy projects. The exposure of the existing renewable energy portfolio is as follows: wind 41%, photovoltaic 47%, solar thermal 9%, and others 3%.

In our commitment to the fight against climate change, we finance energy-efficient properties. Operations for which there is documentary evidence of an energy efficiency certificate with A or B rating are considered environmentally sustainable.

At CaixaBank, we are adapting our information systems and credit processes to record information and documentation related to energy certification when operations are formalised. Energy information concerning planned property developments is also entered.

We encourage sustainable investments that use resources more efficiently and/or reduce environmental impacts. To do this, we offer personal eco-loans and eco-microloans to finance the purchase of efficient vehicles and household appliances and home renovations to improve energy efficiency.

We also finance projects related to efficient water use, renewable energies, waste management, energy efficiency, ecological agriculture and rural development, through eco-financing lines for the agricultural sector.

MicroBank is the CaixaBank Group's social bank. We are leaders in promoting financial inclusion through microloans and other financing with a social impact and, through CaixaBank's branch network, we offer financial products and services that are tailored to the needs of entrepreneurs, micro-enterprises and families in order to foster personal development, social progress and financial inclusion.

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ESG Bonds are bonds which are Green, Social and Sustainable. They are linked to funds whose use has a positive environmental, social, or environmental and social impact, respectively.

In July 2019, the CaixaBank Board of Directors approved a Bond Issuance Framework linked to the Sustainable Development Goals and aligned with the Sustainable, Green and Social Bond Principles.

In 2021, CaixaBank issued 3 green bonds, in addition to the first green bond issued in 2020. The funds raised by the three bonds issued in the last year were allocated to projects that promote two of the SDGs: Goal 7 (Affordable and Clean Energy) and Goal 9 (Industry, Innovation and Infrastructure).

CaixaBank issued a third social bond in 2021 and a fourth in January 2022, which focused on financing activities and projects that contribute to fighting poverty, promoting education and welfare and supporting economic and social development in Spain's most disadvantaged areas.

€1,000 million mobilised through the third social bond in 2021

€1,000 million mobilised via the fourth social bond in January 2022

CaixaBank Group is committed to sustainable investment, understood as investment that not only offers financial returns but also promotes management that is consistent with creating value for the whole of society. 

Through our asset management company, CaixaBank Asset Management, and our insurance company and pension fund manager, VidaCaixa, we have become the first group in Spain to be awarded Sustainable Finance Certification under AENOR's ESG criteria. The two companies have also maintained the highest possible rating (A+) according to the United Nations Principles for Responsible Investment (PRI) in the Strategy and Good Governance section.

The data recorded in 2021 regarding the products of the management companies were very positive: net subscriptions doubled and assets under management reached €226,684 million, equivalent to a combined market share of 29.4% in Spain.

On 10 March 2021, the EU Regulations on sustainability‐related disclosures in the financial services sector (SFDR) came into force and this has further improved communication on the incorporation of environmental, social and good governance criteria in decision-making processes.  In accordance with this new regulatory framework, in 2021 we made adjustments to the design and description of our investment funds, pension plans and savings insurance policies, classifying our products and services in two categories according to their degree of sustainability:

Impulsa Range: financial products and services that promote environmental and/or social objectives or a combination of these. They are classified under Article 8 of the Disclosure Regulations (SFDR).

Impacta Range: financial products and services that pursue a sustainable investment goal. They are classified under Article 9 of the Disclosure Regulations (SFDR). Against this background, CaixaBank has launched a new range of investment funds and pension plans, SI Impact Solutions Range, with the highest sustainability classification according to European regulations (Article 9). The SI Range is a solution with a positive and measurable impact on people and the environment, and it contributes to achieving the 17 United Nations Sustainable Development Goals. This range combines the capabilities of CaixaBank Asset Management and VidaCaixa with BlackRock's advice on our strategy for impact in equities.