CaixaBank leads green, social and sustainable bond issues in Spain and Portugal
May 5, 2021
- CaixaBank is also ranked as the European bank with the highest volume of ESG bonds issued on the euro credit market.
- The global market has started the year posting record figures.
CaixaBank has positioned itself as the leading bank in the issuance and placement of green, social and sustainable bonds (ESG) in the Spanish and Portuguese markets in the first quarter of 2021, according to rankings by Dealogic and Refinitiv.
The bank has participated in the issuance of four green and two sustainable bonds, for a total amount of €6.75 billion. The most notable among these issuances are Iberdrola, Telefónica, EDP and the Autonomous Community of Madrid.
The green, social and sustainable bond market is gaining a substantial market share, reaching a record global volume of $255 billion in the first quarter of 2021. This figure represents a 320% growth compared to the first quarter of 2020 and a volume equivalent to 50% of the total mobilised during 2020.
In August 2019, CaixaBank approved the Sustainable Development Goal (SDG) bond issuance framework, with the validation of Sustainalytics, featuring the mission of supporting the United Nations SDGs. Since the approval of this framework, CaixaBank has made five own bond issuances worth €5 billion. In 2019, it issued its first social bond which contributed to creating upwards of 1,000 companies and 8,200 jobs. In 2020, it issued its first green bond to fund renewable energy projects and energy-efficient buildings and its second social bond to curb the effects of COVID-19. Furthermore, in the first months of 2021, it has already issued two green bonds through which it will channel funds to finance projects that contribute to environmental sustainability. These figures position CaixaBank as the European bank with the highest volume of ESG bonds issued in the euro market.
CaixaBank, committed to sustainability
CaixaBank is one of the financial institutions most committed to sustainability, given that its Socially Responsible Banking Plan covers five significant principles of action that include a direct contribution to the United Nations Sustainable Development Goals. Through its initiatives, the Bank is supporting environmentally friendly initiatives and projects that contribute to preventing and mitigating climate change and to encouraging the transition to a low-carbon economy as well as social development.
In 2020, CaixaBank mobilised over €12 billion in sustainable financing, with more than €2 billion formalised in green financing and over €3 billion formalised in financing linked to ESG variables, especially those of an environmental nature such as curbing emissions and promoting energy efficiency. CaixaBank also participated in the issuance of 11 green, sustainable or social bonds, for a total amount of €7.4 billion. At the close of 2020, CaixaBank was ranked the 5th bank in European and the 9th worldwide in green and sustainable loans in the Top Tier League Tables by volume, according to Refinitiv.