Unicaja Banco has launched a training plan on sustainable finance addressed to all its 6,000 employees. The goal is to raise awareness and to provide the staff with the necessary knowledge and competencies on this topic, taking into account the new regulatory framework on sustainability and the bank’s commitment to ESG (environmental, social and governance) criteria, as reflected in its Action Plan on Sustainable Finance, approved in 2020.
The training plan on sustainable finance recently implemented by Unicaja Banco includes, among other actions, the launch of a general initiative for all its 6,000 employees, and a specific one for those employees whose activity in the bank has specific needs on this topic.
The general programme includes several key topics on sustainability, to be covered through an online course, with the following contents: the financial system and the environment; framework for action against climate change and environmental damage (Paris Agreement and United Nation 2030 Agenda, European Green Deal, European Commission’s Action Plan on Sustainable Finance and the EU Next Generation initiative), and the contribution of the financial system to the fight against the climate change.
The last block includes topics such as the role of sustainable finance; ESG factors; short-termism vs. long-termism in the financial industry; management of climate and environmental risks by financial institutions; climate change and monetary and financial stability; and sustainable financial products: banking finance, investment, insurance and dissemination of non-financial information.
The specific programme is addressed to Unicaja Banco employees who require special focus on this topic, as, for instance, investment analysts.
Sustainable Finance School in the virtual campus
In addition to this training programme, Unicaja Banco has created the Sustainable Finance School at Uniecampus, its virtual campus for employees. This initiative is conceived to host training and learning resources on this topic to make them available to its staff, as a permanent space to have up to date knowledge on this subject.
In particular, in this space users will find the contents of the courses given, a glossary, links to websites on sustainability, etc. It will also feature the possibility of entering queries.
These actions respond to the Unicaja Banco’s firm commitment to the new paradigm of sustainability. In fact, the bank approved in mid-2020 an Action Plan on Sustainable Finance, to boost the integration of ESG criteria into its business strategy.
Likewise, on January the bank approved a Sustainability Policy, available under the section ‘Sustainability and CSR’ of its corporate website (https://www.unicajabanco.com/es). The said section also provides access to the ‘Policy for the integration of sustainability risks into the decision-making process and in advising on investment on insurance products’, approved in February 2021 and setting the guiding principles for the application of the EU Regulation on Disclosure, in force since 10 March.
Based on the action plan and following that established in one of the axes of Unicaja Banco’s Strategic and Transformation Plan, the bank gives an adequate response to the new regulatory requirements and to its own strategic positioning, and adapts to the trends and good practices in ESG, as well as considering the demands of stakeholders such as clients or investors.
With this Action Plan on Sustainable Finance, which includes 21 measures, the bank intends to arrange the transition to a model integrating topics related to sustainability, specifically, in four areas: business models and strategies; governance; risk management (especially, climate and environmental risks) and disclosure and transparence.
Additionally, the plan also intends to integrate those risks related to the environment and climate change into the bank’s management model, as well as to define goals and set metrics and indicators to assist the bank in making strategic decisions.
A proof of Unicaja Banco’s work in favour of sustainability is, within its CSR framework, its commitment to the 10 Principles of the Global Compact, to the 2030 Agenda and to the achievement of the 17 Sustainable Development Goals (SDGs).