Sustainability and CaixaBank AM

Responsible management can be traced back to our origins and is something that is integral to who we are.

Responsible management can be traced back to our origins and is something that is integral to who we are.

Our commitment

Pertenecer al Grupo CaixaBank, referente en banca sostenible, nos obliga a promover una gestión coherente la creación de valor para toda la sociedad y nos hace operar de una manera distinta, comprometiéndonos con nuestro entorno.

En CaixaBank Asset Management, concebimos la economía sostenible como un compromiso real, para crear valor en la Sociedad y el Medio Ambiente.

Por eso, hemos orientado nuestra estrategia a los Objetivos de Desarrollo Sostenible (ODS) y, en consecuencia, a la Agenda 2030, integrando los criterios sociales, ambientales y de buen gobierno (ASG) en todas nuestras decisiones de inversión.

Estamos convencidos de que las consideraciones ASG pueden ayudarnos a tomar mejores decisiones de inversión a largo plazo para nuestros clientes. Así, incluimos estos factores en el análisis, las decisiones de inversión y la gestión de riesgos.

Cada vez estamos más convencidos que una de las palancas más poderosas que tenemos las gestoras de activos es la capacidad de ser inversores activos, debemos utilizar nuestra influencia para ayudar a que las empresas y emisores vayan por la senda de la sostenibilidad.

En CaixaBank Asset Management nos esforzamos en aprovechar nuestra influencia en compañías y emisores para tener un impacto real en el mundo. Entendemos que la mejor manera de capitalizar esa influencia es a través de la aplicación de nuestra política de implicación, teniendo diálogos con ellos, ya sea de manera directa, o a través de diálogos colaborativos, y por supuesto con nuestra participación activa en voto en las juntas generales de accionistas.

Every customer expects responsible and transparent investment.

Logo de: Pacto Mundial de Naciones Unidas'

Adhesion to the Spanish Global Compact Network

The United Nations Global Compact (UNGC) is a global initiative that encourages companies to act responsibly by aligning their strategy with ten principles related to Human Rights, Labor Rights, the Environment and Corruption, and allowing progress in social objectives such as the Sustainable Development Goals of the United Nations Agenda (SDG), placing greater emphasis on collaboration and innovation.

In 2011, CaixaBank Asset Management formalized its membership of the UNGC, joining a community of more than 12,000 members spread across 160 countries, which seek to implement responsible practices and develop innovative solutions to solve problems of poverty and inequality, and support education, health and stability.

Web: Pacto Mundial ONU: Desarrollo sostenible y Responsabilidad social · Pacto Mundial

10 principles of the Global Compact (first point)

Human rights

Principle 1: Businesses should support and respect the protection of internationally recognized fundamental human rights.

Principle 2: Companies must ensure that they are not complicit in the violation of human rights.

Labor rights

Principle 3: Businesses should support freedom of association and the effective recognition of the right to collective bargaining.

Principle 4: The abolition of all forms of forced or compulsory labor.

Principle 5: The effective abolition of child labor.

Principle 6: The elimination of discrimination in employment.

Environmental Protection

Principle 7: Companies should support a preventative approach that favors the environment.

Principle 8: Undertake initiatives to promote environmental responsibility.

Principle 9: Promote the development and dissemination of environmentally friendly technologies.

Anti-corruption

Principle 10: Companies must work against corruption in all its forms, including extortion and bribery.

To act as a channel for actions in favor of a plan to support the broader objectives of the United Nations, including the 17 Sustainable Development Goals (“SDGs”). In this regard, although the CaixaBank Group integrates the 17 SDGs into its sustainability strategy, contributing to all of them through its activity, social action and strategic alliances, it focuses its actions on four priority objectives:

  • SDG 1 - End poverty,
  • SDG 8 - Decent work and economic growth,
  • SDG 12 - Responsible production and consumption, and;
  • SDG 17 - Alliances to achieve the objectives.
Logo de: 'Principios para la Inversión Responsable'.

The Principles for Responsible Investment (PRI) promoted by the United Nations are an initiative consisting of a network of investors who work together to put into practice the Principles for Responsible Investment established by the Group. Its aim is to disseminate the implications of sustainability for investors and to support signatories in incorporating these considerations into their investment decision-making processes and share ownership practices.

At CaixaBank Asset Management SGIIC, SAU, we are committed to responsible investing practices and have signed up to the Principles for Responsible Investment (UNPRI) in 2016. We believe that respect for good practices is more than just an obligation, but a cornerstone of our business. It is part of our DNA. Signatories of these Principles are contributing to the development and sustainability of a global financial system. Signatories have a duty to act in the best long-term interests of their beneficiaries. In this fiduciary role, they believe that environmental, social, and corporate governance issues can affect the performance of investment portfolios.

These values are the CaixaBank Group's core values and we adhere to them in all of our decisions. In line with our commitment to corporate social responsibility, we joined the United Nations Global Compact in 2011. The Global Compact is the world's largest corporate citizenship initiative. Launched in 1999, it is based on principles of human rights, labour standards, the environment and the fight against corruption.

Principle 6 states that PRI signatories must "report on their activities, and progress in implementing these Principles". This information must be provided for each asset class. Each signatory is awarded a score for each UNPRI principle and the result is then compared with the other signatories. (Access to UNPRI summary report and CABK AM’s SRI Policy)

The UN-supported PRI initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. The goal of this initiative is to raise awareness among investors about the implications of sustainability, and to provide signatories with tools and resources to help them incorporate sustainability into their investment decision-making processes and ownership practices. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system.

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UNPRI
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PRI Transparency
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Report 2023
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PRI Methodology
Logo TCDF'

Adherence to the Task Force on Climate-related Financial Disclosures (TCFD ) initiative.

Logo TPI'

The Transition Pathway Initiative ("TPI") is a global initiative, led by asset owners and supported by asset managers, that allows investors to valuate a company's performance and its progress towards the low-carbon economy against internationally agreed benchmarks. Assessment is made using publicly available company information, and a academically rigorous approach, which can be used not only to help make investment decisions, but also as a basis for engagement with companies on their progress towards specific objectives.

Recognition

CaixaBank Asset Management, the first fund management company to be certified by AENOR for excellence in the management of the entire value chain.

Certificados

CaixaBank AM has become the first bank in Spain to receive AENOR's Sustainable Finance Certification under ESG (Environmental, Social and Corporate Governance) criteria.

The AENOR certificate is an important recognition of the value of investing in a way that always keeps the customer's best interests at heart. It demonstrates a commitment to involving the entire professional team in this kind of management.

We are the first investment fund management company in Spain to obtain AENOR certification for the quality of its entire value chain, including the management and administration processes for investment funds, SICAVs and discretionary portfolio management.

AENOR's Sustainable Finance Certification highlights the work to integrate ESG criteria into investment decision-making processes, highlighting the systematic evaluation of business risks, with a focus on processes; the management of information in all audited processes; meticulous periodic analysis, and a rigorous system in the management of investment funds and SICAVs.

2022 successfully passed the first follow-up audit.

Policies

The new regulatory framework regarding the transparency of sustainability-related information, based on Regulation (EU) 2019/2088* and others leads us to provide greater transparency in the information on the application of sustainability criteria in investment decision-making.

CaixaBank Asset Management therefore carries out numerous actions to integrate these sustainability factors into the management of our products, complying with the corporate sustainability risk integration framework defined for the CaixaBank Group, as well as with numerous agreements and international standards on the matter, positioning us as a benchmark asset management company for sustainable investment.

These are our principles and policies in this regard. You can see how CaixaBank Asset Management takes sustainability factors into account in the management of the products it offers you at the following links:

Policies

CaixaBank AM uses the voting rights set forth in the Engagement policy in accordance with its vision for socially responsible investing.

You can find information about the direction of votes at the Meetings by accessing the voting rights register here.

We support Corporate Policies

Collaborative dialogues

Our efforts are focused on improving financial well-being and sustainable economic growth, while also contributing to the overall strengthening of society. CaixaBank has a long history of supporting various associations, working groups and forums dedicated to developing and disseminating best practices, principles and values. Our goal has always been to drive progress in various areas through these collaborations.

We participate in numerous initiatives linked to ESG (Environmental, Social and Governance) to further our commitment to sustainability and be part of best practices.