What Banco Sabadell does to promote sustainable development
Banco Sabadell has developed a framework of action called “Sabadell Sustainable Commitment,” which integrates environmental, social, and governance (ESG) commitments into its strategy, aligns its business objectives with the Sustainable Development Goals (SDGs), and establishes action levers with transformation and driving actions. To achieve this, they have involved all the organs of the entity and have set four strategic axes on which they are already working:
- Advancing as a sustainable entity
- Accompanying their clients in the transition to a sustainable economy
- Offering investment opportunities that contribute to sustainability
- Working together for a sustainable and cohesive society
Compensation project
With the aim of meeting quality standards regarding social responsibility, ethics, and the environment, the entity is developing a carbon offset project with CO2Revolution.
As of the end of 2022, the bank has acquired a total of 5,542 tons of CO2, resulting in the planting of a total of 23,580 trees in the municipality of Cerdedo-Cotobade, in Pontevedra, one of the areas most affected by fires in Spain. With this project, a total of 20.6 hectares are being reforested, equivalent to an area of 20 soccer fields.
All of this respects the biodiversity of the area through the manual planting of 8 native species: Pinus radiata, Cedrus atlantica, Salix atrocinerea, Betula celtiberica, Crataegus monogyna, Prunus avium, Pseudotsuga menziesii, and Castanea sativa in Monte Vecinal en Mano Común.
Benefits of the compensation project
In 2022, Banco Sabadell reduced its carbon footprint by 60% compared to 2019 in Spain and the United Kingdom. It has made progress in its internal footprint, achieving neutrality through energy management, consumption reduction, and compensation with reforestation projects like this one.
Specifically, with this compensation project, it promotes sustainable triple impact development:
Environmental
- Combatting climate change
- Regeneration of fire-damaged land
- Creation of biodiversity through planting a variety of species
- Protection of natural resources
Social and Ethical
- Promotion of social progress and rural work
- Struggle for gender equality in rural areas
- Promotion of a sustainable culture
- Creation of a responsible community
- Awareness among its collaborators
Economic
- Strengthening a sustainable business model
- Creating business opportunities with clients demanding ESG policies
- Anticipation of the future European legal framework and adaptation to sustainable finance
This initiative contributes to the integration of the Sustainable Development Goals in the actions of Banco Sabadell and CO2 Revolution. With this, we aim to achieve sustainable development that allows us to improve our quality of life and that of future generations.
Si tú también quieres apoyar la lucha contra el cambio climático, calcula y compensa tu huella de carbono con nosotros. Se parte del cambio, ¡únete a nuestra revolución!
