Double Materiality analysis
The preparation of the double materiality study relies on support from an independent expert, in accordance with a new methodology, based on new requirements in the reference standards that indicate how to carry out a double materiality approach.
- Impact materiality (from the inside out): considers the real and/or potential impacts of activities on the environment and how they affect stakeholders in the short, medium and short term.
- Financial materiality (from the outside in): considers the potential financial impact of ESG (environmental, social and governance) risks and opportunities on the Entity in the short, medium and long term.
In this regard, a subject can be material from the point of view of impacting stakeholders, from a financial point of view, or from both perspectives. This Materiality Study is presented to the Management Committee, the Appointments and Sustainability Committee, and to the Board of Directors for approval.
Learn about the phases of the study
We have consolidated the overall results of prioritization for the business and for the CaixaBank and BPI stakeholders in a materiality matrix that integrates the double perspective of impact: impact of the issues on the financial situation (outside-in) and on the groups of interest and the planet (inside-out).
To determine the impact of material topics on stakeholders, surveys and direct interviews were carried out involving a wide spectrum of groups, including customers, retail shareholders, employees, suppliers and experts. In addition, for the first time a survey was conducted of the public that involved customers and non-customers (the hierarchy of the stakeholders was determined using the weights in CaixaBank's General Reputation Index (IGR)).
To determine the impact of material topics on the business, an online survey was administered to executives, members of Group companies and subsidiaries, and members and participants of CaixaBank's Sustainability Committee.
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Download CaixaBank Group 2023 Materiality Matrix
Cybersecurity and data protection and financial soundness and profitability are the two issues with the highest impact on the consolidated rating of the stakeholders' and business' results.
All the topics continue to have a high score (of at least 76%). Of all of them, only three are at a medium-impact level: environmental management and operational carbon footprint, access to microfinancing and solutions with a social impact and alliances to promote sustainability.