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2021-01-25 00:00:00
Why should banks support EU mandatory human rights and environmental due diligence?
2020-12-22 00:00:00
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2020-12-14 00:00:00
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2020-11-18 00:00:00
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2020-09-16 00:00:00
Principles for Paris-Aligned Financial Institutions: Climate Impact, Fossil Fuels and Deforestation
2020-08-17 00:00:00
"Trust Us, We're Equator Banks": Part I
2020-03-18 00:00:00
Banking on Climate Change - Fossil Fuel Finance Report 2020
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CaixaBankSpain
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Created before Nov 2016
Last update: 2020-05-12 10:27:05

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CaixaBank's head offices in Barcelona. Photo: Jordiferrer via Wikimedia (CC BY-SA 3.0)

About CaixaBank

CaixaBank was founded in 1980, and is a leading Spanish retail bank. The bank operates through three segments: banking and insurance, real estate activity, and investments. With the mergers and takeovers of Banca Cívica and Banco de Valencia, and the retail banking, wealth management and corporate banking businesses of Barclays in Spain, CaixaBank has extended its share of the Spanish financial market. CaixaBank signed the Equator Principles in March 2007, and is therefore part of BankTrack's Equator Principles Track and Chase project.

Website
Headquarters
Avda Diagonal 621-629
08028 Barcelona
Spain
CEO/chair Mr. Gonzalo Gortázar Rotaeche
CEO
Supervisor
Banco de España
Annual report Annual report 2019
Ownership
listed on Bolsa de Madrid

CriteriaCaixa (100% owned by La Caixa Banking Foundation) has a 44.3% interest in CaixaBank's capital. CaixaBank's complete shareholder structure can be accessed here.

Related Dodgy Deals

CaixaBank has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Dodgy Deals map

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Active profiles
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On record profiles

Policy Assessments

Banks, climate and energy

Bank policy scores on tar sands

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Caixabank
2020-03-01
ESP
6
6
0
Spain
Profile
Laggard
Follower
6
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 6 points out of 20

4 points for a strong exclusion of tar sands projects: CaixaBank prohibits financing for any project related to bitumen extraction, as well as any project linked to the construction of oil pipelines that could potentially transport oil coming from the tar sands. This policy covers new and expanded projects.

2 points for a weak exclusion threshold for tar sands companies: CaixaBank prohibits financing for  companies "where bituminous sand exploration or production accounts for more than 10% of the group’s consolidated turnover at level of parent company." This is assessed as weak because tar sands transportation isn't included in the percentage, which is calculated at the parent company level.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00
Explanation

The point-based policy ranking above assesses bank policies in four ways:

 1) Restriction on direct financing for tar sands projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand tar sands.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for tar sands.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in tar sands above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its tar sands policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points). 

For more details see this page.

Bank policy scores on Arctic oil and gas

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Caixabank
2020-03-01
ESP
3
3
0
Spain
Profile
Laggard
3
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 3 points out of 20

3 points for a moderate exclusion of Arctic oil and gas projects: CaixaBank prohibits any project-related financing "involving oil and gas exploration or production in the arctic region." This policy does not cover infrastructure in the region.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for Arctic oil and gas projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand Arctic oil and gas. 

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for Arctic oil and gas.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in Arctic oil and gas above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its Arctic oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on fracked oil and gas

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Caixabank
2020-03-01
ESP
1.5
1.5
0
Spain
Profile
Laggard
1.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 1.5 points out of 20

1.5 points for a weak exclusion of fracked oil and gas projects: CaixaBank prohibits financing for projects that involve extraction through fracking, but the policy does not cover fracking-related infrastructure.

See: Banking on Climate Change - policy scores 

Relevant policies
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for fracked oil and gas projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand oil and gas fracking.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for oil and gas fracking.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in oil and gas fracking above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its fracking policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

Equator Banks fail communities on consultation and grievance mechanisms, new study finds

BankTrack research into nine projects financed ‘under Equator’ finds routine failures to conduct proper community consultation and a lack of effective project-level grievance mechanisms
2020-11-24 | Nijmegen | BankTrack
blog
external news
our news

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
blog
external news
our news

Equator Principles requirements missing for most projects, finds new BankTrack study

Research into 37 projects financed 'under Equator' finds project-level grievance mechanisms or stakeholder engagement processes cannot be evidenced in 65% of cases
2020-08-11 | BankTrack
blog
external news
our news

Trans Adriatic Pipeline: France provides massive financial support to controversial gas project

2019-01-17 | Paris, France | Les Amis de la Terre
blog
external news
our news

Banks not yet living up to UN human rights principles, finds BankTrack

New research finds inadequate reporting on human rights impacts, and failure to establish mechanisms to allow complaints.
2014-12-02 | Geneva | BANKTRACK
blog
external news
our news

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
blog
external news
our news

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
blog
external news
our news

Time to Improve the Equator Principles, BankTrack Says

2011-10-24 | Washington | Social Funds
blog
external news
our news

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
blog
external news
our news

Financiers search for sustainable future

2011-10-20 | Washington | Environmental Finance
blog
external news
our news

Cluster bombs manufactured in Spain in 2007 and used by Gaddafi to bomb Misrata were financed by Spanish banks

Cajalón, Caja España, Caja Mediterráneo, Bankinter, Ibercaja, Banco Popular, Banco Sabadell and La Caixa involved
2011-05-04 | Madrid, Spain | SETEM
blog
external news
our news

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack

Documents

Type:
Year:
our publications
2020-11-24 00:00:00

"Trust Us, We're Equator Banks": Part II

2020-11-24 00:00:00 | BankTrack
annual reports
2020-05-12 00:00:00

Annual report 2019

2020-05-12 00:00:00 | CaixaBank
csr policies
2019-12-31 00:00:00

Action principles of the corporate policy for relations with the defence sector

2019-12-31 00:00:00 | CaixaBank
csr policies
2019-10-31 00:00:00

Corporate policy on corporate social responsibility

2019-10-31 00:00:00 | CaixaBank
csr policies
2019-10-31 00:00:00

Corporate human rights policy

2019-10-31 00:00:00 | CaixaBank
correspondence
2019-09-11 00:00:00

Letter from CaixaBank to BankTrack on PRB implementation

2019-09-11 00:00:00 | CaixaBank
correspondence
2019-08-12 00:00:00

Letter from BankTrack to CaixaBank on CaixaBank's Future Relationship with the Fossil Fuel Industry

2019-08-12 00:00:00 | BankTrack
ngo documents
2019-05-21 00:00:00

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
2019-05-21 00:00:00 | Europe Beyond Coal
annual reports
2019-05-09 00:00:00

Annual integrated report 2018

2019-05-09 00:00:00 | CaixaBank
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00 | CaixaBank
csr policies
2019-01-31 00:00:00

Code of business conduct and ethics

2019-01-31 00:00:00 | CaixaBank
csr policies
2019-01-31 00:00:00

Anti-corruption policy

2019-01-31 00:00:00 | CaixaBank
csr policies
2018-12-31 00:00:00

Environmental and energy management principles

2018-12-31 00:00:00 | CaixaBank
annual reports
2018-05-01 00:00:00

Annual integrated report 2017

2018-05-01 00:00:00 | CaixaBank
annual reports
2017-06-12 00:00:00

Integrated Corporate Report 2016

2017-06-12 00:00:00 | CaixaBank
annual reports
2017-05-05 00:00:00

Socio-Economic Impact Report 2016

2017-05-05 00:00:00 | CaixaBank
annual reports
2016-04-27 00:00:00

Integrated Corporate Report 2015

2016-04-27 00:00:00 | CaixaBank
annual reports
2016-04-19 00:00:00

Socio-Economic Impact Report 2015

2016-04-19 00:00:00 | CaixaBank
annual reports
2015-04-21 00:00:00

Integrated Corporate Report 2014

2015-04-21 00:00:00 | CaixaBank
our publications
2014-12-02 00:00:00

Banking with Principles?

Benchmarking Banks against the UN Guiding Principles on Business and Human Rights
2014-12-02 00:00:00 | BankTrack
other documents
2011-05-05 00:00:00

Dirty Business: Spanish banks financing producers of controversial weapons

2011-05-05 00:00:00 | Profundo
correspondence
2010-12-18 00:00:00

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

2010-12-18 00:00:00 | Banktrack

Links

CaixaBank Corporate Responsibility page

http://www.caixabank.com/responsabilidadcorporativa_en.html

Criteria Caixa Holding

Non-listed investment company that brings together the industrial investments and property assets of “la Caixa”
http://www.criteria.com/home/home_en.html

Policies

Voluntary initiatives

CaixaBank has committed itself to the following voluntary standards:
  • Carbon Disclosure Project
  • Collective Commitment to Climate Action (CCCA)
  • Dow Jones Sustainability Indices
  • Equator Principles
  • Global Reporting Initiative
  • Green Bond Principles
  • ISO 14001
  • OECD Guidelines for Multinational Enterprises
  • Principles for Responsible Banking (PRB)
  • Principles for Responsible Investment (PRI)
  • Task Force on Climate-related Financial Disclosures
  • UNEP Finance Initiative
  • United Nations Global Compact

Investment policies

CaixaBank's webpage on corporate social responsibility can be accessed here.

Year:
csr policies
2019-12-31 00:00:00

Action principles of the corporate policy for relations with the defence sector

2019-12-31 00:00:00 | CaixaBank
csr policies
2019-10-31 00:00:00

Corporate policy on corporate social responsibility

2019-10-31 00:00:00 | CaixaBank
csr policies
2019-10-31 00:00:00

Corporate human rights policy

2019-10-31 00:00:00 | CaixaBank
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00 | CaixaBank
csr policies
2019-01-31 00:00:00

Code of business conduct and ethics

2019-01-31 00:00:00 | CaixaBank
csr policies
2019-01-31 00:00:00

Anti-corruption policy

2019-01-31 00:00:00 | CaixaBank
csr policies
2018-12-31 00:00:00

Environmental and energy management principles

2018-12-31 00:00:00 | CaixaBank

Equator Principles

Implementation and reporting

CaixaBank is reporting on the implementation here.

Contact and complaints

Equator Principles Dodgy Deals

Projects

active

Coastal GasLink pipeline Canada

Pipeline Transportation of Natural Gas
on record

Trans Adriatic Pipeline (TAP) - international -

Oil and Gas Extraction
on record

SOCAR Aegean Refinery Turkey

Coal Electric Power Generation | Oil and Gas Extraction

Good moves

Year:
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