Banco Sabadell committed to sustainable development

Banco Sabadell has joined CO2 Revolution in its commitment to continue advancing in sustainability.

What Banco Sabadell is doing to promote sustainable development

Banco Sabadell has developed an action framework “Sabadell Sustainable Commitment” that integrates the forward-looking vision of environmental, social and governance (ESG) commitments into its strategy. It aligns its business objectives with the Sustainable Development Goals (SDGs) and establishes levers of action with transformational and driving actions. To this end, they have involved all of the entity’s bodies and have established four strategic axes on which they are already working:

• Advancing as a sustainable entity
• Accompanying its customers in the transition to a sustainable economy.
• Offer investment opportunities that contribute to sustainability.
• Working together for a sustainable and cohesive society.

Compensation project

In order to comply with the adherence to quality standards regarding ESG strategy, the bank is developing a project to offset its carbon footprint with CO2Revolution.

By the end of 2022, the bank had acquired a total of 5,542 tons of CO2, which is involving 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. This project is repopulating a total of 20.6 hectares, which is equivalent to an area of 20 soccer fields.

All this while respecting 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 offset project

In 2022 Banco Sabadell has reduced its carbon footprint by 60% compared to 2019 in Spain and the United Kingdom. It has made progress in its own internal footprint, achieving carbon neutrality through energy management, consumption reduction and offsetting with reforestation projects such as this one.
Specifically with this offsetting project it drives triple-impact sustainable development:

Environmental:

o Fight against climate change
o Regeneration of burned land
o Creation of biodiversity through the planting of a variety of species
o Protection of natural resources.

Social and Ethical:

o Encouraging social progress and rural work
o Struggle for gender equality in rural areas
o Promotion of sustainable culture
o Creation of a responsible community
o Raising awareness among its employees

Economic:

o Strengthening of a sustainable business model
o Creation of business opportunities with clients demanding ESG policies. o Anticipation of the future European legal framework and adaptation to sustainable finance.
o 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. In doing so, we seek to achieve sustainable development that will improve our quality of life and that of future generations.

Additionally, if you also want to support the fight against climate change, calculate and offset your carbon footprint with us. Be part of the change, join our revolution!