As an integral part of the financial sector, Cecabank shares the challenge of channelling capital flows towards a decarbonised and more inclusive economy. But additionally, as a wholesale bank, it faces the challenges of maintaining its position of leadership, increasing the trust of its customers and shareholders through responsible business practices, complementing its portfolio of services with an ESG offer that anticipates customer demand and, moreover, continuing to have a positive impact on our environment
When talking about challenges, Mónica Malo, Director of Communications, External Relations and Sustainability at Cecabank, explained that, in the area of climate change, "we are working on these decarbonisation pathways for our portfolio. This is a challenge because we lack data from the companies themselves (our counterparties) to calculate this carbon footprint. For example, we are carbon-neutral in our own operations, but it is true that for our portfolio we are still looking at how we can meet those decarbonisation pathways that we are all committed to".
In terms of milestones, she highlighted that in 2022 the bank launched its 2022-2024 Sustainability Plan, which is fully aligned with the organisation's strategic plan. "We conducted a dual materiality analysis in which we involved our Board, employees and customers to identify their main concerns, we analysed them and structured them into four areas: people, planet, prosperity, principles of governance. As a result, we defined 70 actions with a follow-up plan involving the Board of Directors and the Delegated Committees. Implementation of the plan is currently at 40% and we want to continue to make progress in this direction".