Sustainability: Our Commitment to Sustainability


Since April 2021, Ibercaja has been one of the founding members of the Net Zero Banking Alliance (NZBA), an initiative that encompasses banking entities in the financial sector and is promoted by the United Nations that aims to achieve the decarbonization of credit portfolios and investment by 2050, thus advancing in meeting the objectives of the Paris Agreement.


In compliance with the NZBA commitments, Ibercaja defined in 2022 a series of intermediate decarbonization targets for part of its credit portfolio for 2030, with the objective of achieving neutrality in greenhouse gas emissions by 2050. These decarbonization targets of the financed portfolio were established for three sectors, all of them relevant to the vision of transition towards a low-carbon economy and action against climate change: power generation, iron and steel production, and the residential real estate portfolio

(1) The baseline published on intensity metrics could undergo modifications due to the constantly evolving data, information sources and methodologies. However, Ibercaja is committed to maintaining decarbonization targets linked to scenarios aligned with the fulfillment of the Paris Agreement.
The defined targets represent a 10% decrease in emissions from the Entity's credit portfolio towards the power generation sector, an intensive industry, whose decarbonization will also act as a lever for other productive sectors.
In the iron and steel sector, Ibercaja has proposed reducing the emissions intensity by 10%. Currently, the sector is working on the development of new less emissions-intensive iron and steel smelting and treatment technologies; Ibercaja will accompany its clients in this transition, supporting them in their decarbonization and transformation process.
For the real estate portfolio, Ibercaja is committed to reduce its associated emissions by 16% by 2030, fundamentally supporting the financing of sustainable homes and promoting the improvement of efficiency in homes that have the lowest energy certifications.
It is important to highlight that Ibercaja has been neutral in its own emissions since 2020: 100% of the Entity's electricity consumption comes from renewable sources and it invests in compensating direct emissions (scope 1) through ZeroCO2 projects. Since 2016, the year in which the Bank began calculating its carbon footprint, it has reduced its emissions by 90%.


According with the commitments acquired with the NZBA and the expectations of key stakeholders, Ibercaja has defined the Transition Plan, which contains the main elements to consider in understanding how it will achieve the intermediate decarbonization targets in each of the three industrial sectors for which decarbonization targets have been defined. This Transition Plan has been developed primarily following the guidelines and recommendations for Financial Institutions published by the Glasgow Financial Alliance for Net Zero (GFANZ).
Through this Plan, Ibercaja provides a more detailed insight to its stakeholders on how it will approach the transition to decarbonization and the path it is following to achieve.

Transition Plan Ibercaja Banco
Transition PlanFile Pdf - 2 MBDownload/View