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Sustainability Committee

In view of the increasing relevance of all the aspects relating to sustainability and the creation of a new Sustainability Directorate in April 2021, the Management Committee approved the creation of the Sustainability Committee. 

It is a first level committee that reports to the Management Committee and has evolved from the Environmental Risk Management Committee, which was created in 2019. It also takes on the sustainability/CSR functions of the Corporate Responsibility and Reputation Committee, created in 2015.

It is responsible for approving CaixaBank's sustainability practices and strategy, as well as the monitoring thereof. It also proposes and presents for approval by the governing bodies the general policies for managing sustainability.

Its mission is to contribute to making CaixaBank recognised for its excellent management of sustainability.

Meetings and composition

It meets monthly and is made up of managers from different areas of the bank: Sustainability; General Business Division; CIB and International Banking; Compliance and Control; General Risks Division; Communication and Institutional Relations; Finance; Accounting, Management Control and Capital; General Secretariat; Resources; Human Resources; Internal Audit; CaixaBank Asset Management; VidaCaixa; BPI and ImaginTech.

Reporting

The Sustainability Committee is a delegated body reporting to the Management Committee. It reports directly to the Management Committee and the Appointments and Sustainability Committee, the latter reports to the Board of Directors.

Functions and objectives

  • Supervise the bank's sustainability strategy, monitor the projects and initiatives, and assess their degree of compliance.

  • Foster the inclusion of sustainability criteria in the bank's business management.

  • Be aware of and analyse the regulatory requirements, trends and best practices in the sector with regard to sustainability.

  • Review and approve the information about sustainability to be disclosed to the market.

  • Report the agreements reached to the Management Committee.

  • Escalate to the Global Risk Committee all matters related to the policies for sustainability risk management, the reporting and monitoring of Risk Appetite Framework (RAF) metrics and the regular information about sustainability risks.

  • Validate the fairness of the non-financial indicators in relation to the Environmental, Social and Governance (ESG) criteria.

  • Sanction any exceptions covered by the Corporate Policy in relation to the Defence sector.