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16 August 2023

Vocation of social and environmental commitment

For years, especially since the Covid-19 pandemic, awareness and concern for the environment has become a priority in the current economic model. Achieving social and environmental sustainability is a global challenge where all those involved must interfere: citizens, companies, administrators and governments, investors, and markets.
Within this context, financial institutions have a particularly important role. First, through our own finance function, with which we channel savings and investment and can direct capital flows to sustainable projects and investments, thus integrating sustainability into your business model and strategy.
Secondly, because we are a transmission belt with customers - both companies and individuals - and society. The financial sector is the essential link in the chain to advance sustainable development, decarbonization and energy transition. In this sense, Ibercaja has a great capillarity and closeness to its customers. One of the strengths of the entity is the great knowledge of customer needs. In addition, during the dialogue and dialogue with them, there is a purpose of raising awareness about the importance of adapting to the green transition and integrating sustainability into their businesses.
The origin of Ibercaja goes back to 147 years of history and part of our DNA is a clear vocation of social and environmental commitment, which today continues to define our way of doing banking, aligned with the corporate purpose: "to help people build the story of their life". This is the axis and focus of its strategy, in which sustainability is integrated through the Strategic Plan Challenge 2023, with the proposed challenge that "business objectives promote sustainable development, promoting a more resilient economy and a fairer and more inclusive society".
This strategic project of Ibercaja is focused on integrating sustainability into the Bank's business model through: a range of investment and sustainable financing products and social initiatives; the incorporation of climate risks into risk management frameworks, analysing climate aspects in their concession and monitoring; communication and reporting of sustainability aspects, promoting transparency and good governance; and promoting synergies with shareholder foundations through the development of social and environmental projects.
Similarly, due to the relevance and urgency to curb climate change, Ibercaja has among its objectives the neutrality of emissions, being neutral in operational emissions since 2020, with the CALCULO – REDUZCO – COMPENSO seal of the MITERD (Ministry of Ecological Transition and Demographic Challenge). Likewise, the Bank is a signatory -as a founding member- of the Net Zero Banking Alliance, a United Nations initiative to achieve the decarbonization of loan portfolios and emissions neutrality by 2050. To this end, the emissions financed by the Bank's portfolio are measured, establishing objectives for the sectors with the highest number of emissions. All this with the aim of financing companies already aligned with decarbonization and, at the same time, supporting those that are not in their transition, financing the development of climate solutions or the adaptation of production processes.
In connection with the above, the creation of alliances and cooperation at the international level are the basis for moving coherently towards a sustainable future. Similarly, this would help to identify synergies and learn from good practices from other countries or entities.
On the other hand, the Bank helps channel the aid of the Next Generation Funds, which focus on sustainable development, to the beneficiary companies, with a specific service and financing products and Next Gen guarantees.
The Bank also promotes savings in sustainable products, developing a range of 10 investment funds and 5 pension plans with sustainable characteristics that invest with ESG criteria, directing capital flows towards companies that consider respect for the environment in obtaining their business results.
Within these products, there is an investment fund and a pension plan that, in addition to being sustainable, are also supportive and donate a part of their management fee to social and environmental projects of non-profit entities, through "Your money with heart". This Ibercaja initiative has already donated more than three million euros to 105 projects, with the collaboration of the Bank's shareholder foundations.

Vocation of social and environmental commitment
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