CaixaBank strengthens its commitment to responsible investing with new PRI scores

• VidaCaixa receives 5 stars (the highest rating) for its investment and stewardship policy.

• Furthermore, CaixaBank AM receives 5 stars in direct-investment equities due to the integration of ESG factors into its investment processes.

• Only 10% of signatories worldwide achieved the highest score.

• The PRI assesses nearly 3,000 corporate investors that, as a whole, manage more than $135 trillion in assets.

The managers of Grupo CaixaBank, VidaCaixa, CaixaBank AM and BPI Gestão de Ativos have reaffirmed their utmost commitment to responsible investment through the Principles for Responsible Investment (PRI), a United Nations-supported network of financial institutions.

This new recognition confirms the insurance company’s commitment towards Socially Responsible Investing (SRI) by integrating environmental, social and governance (ESG) criteria into its investment decisions.

The international association of corporate investors gives its highest score (five stars) to VidaCaixa for its investment & stewardship policy. Also worth noting is the organisation’s governance model and its special oversight of risk management, with a focus on climate change, voting policies and engagement processes in the area of ESG, and the boost given to transparency, amongst other things.

 Furthermore, CaixaBank AM’s recognition in direct-listed equities was achieved thanks to the integration of ESG factors into its investment processes. Of note, is the identification of high-priority ESG factors, and their incorporation and follow-up into investment processes, as well as their inclusion in risk management of ESG incidents that could affect the managed assets.

The Group’s asset managers continue to demonstrate year after year their progress in sustainability, even under the most stringent requirements. In fact, in 2021, PRI modified the survey, as well as the evaluation methodology, in order to more strictly differentiate among the signatories. The rating system was also changed from letters (E to A+) to numbers (1 to 5 stars) to reflect that the scores are stricter and not comparable to those from previous years.

The result is that only 10% of signatory companies (consisting of investment trusts, service providers and investment managers from all over the world) have received the highest score. The PRI assesses nearly 3,000 corporate investors that, as a whole, manage more than $135 trillion in assets.

According to Javier Valle, Managing Director of VidaCaixa: “At VidaCaixa, we view SRI as a way of managing investments, and not as a philosophy to apply toproducts in our portfolio. For this reason, 100% of our managed assets have included ESG in investment decisions for more than 20 years. We are very satisfied that the PRI has once again recognised the company’s leadership in this regard”.

And in the words of Juan Bernal, the Managing Director of CaixaBank AM: ”We at CaixaBank AM are committed to sustainable investment, defined as any investment that offers not only financial benefits to investors, but that also promotes management that is consistent with creating value for all of society. In this regard, we are very happy with PRI’s recognition of the management company’s firm commitment to give a boost to responsible investment by integrating social, environmental and governance criteria into its investment decisions and products".

VidaCaixa, committed to responsible investment

VidaCaixa has always been at the forefront and been proactive in adapting the management of its activity to new regulatory standards, and also in adopting best market practices in sustainability. It was the first company in Spain to endorse all aspects of the PRI, as an insurer and pension fund manager, in 2009. Also worth noting are the following certifications and endorsements: 

• First insurer to be certified in sustainable financing under ESG criteria, promoted by AENOR.
• First insurer in Spain to support the Net Zero Owners Alliance.
• Endorsed the Principles for Sustainability in Insurance (PSI), promoted by UNEP FI, in 2020.
• Climate Action 100+: initiative that promotes collective dialogues with companies from intensive sectors in an effort to reduce emissions, improve climate governance and set financial metrics for climate change.
• 2022 Global Investor Statement to Governments on the Climate Crisis: initiative promoted by corporate investors that urges governments to increase their climate ambitions.

As a pension fund manager, it has received more than 25 awards for its management in recognition of its excellent market-beating results. 100% of its assets incorporate ESG factors into investment decisions to generate sustainable long-term returns. As a result, it has the best ratings and is committed to the world’s most crucial sustainability initiatives.

Sustainability, an essential element of CaixaBank AM and BPI Gestão de Ativos

CaixaBank AM signed the Principles for Responsible Investment in 2016, demonstrating that adhering to best practices is more than an obligation; it is part of its essence. The commitments and distinctions of the management company are also worth noting: 

• Certified by AENOR for sustainable financing under ESG criteria.
• CaixaBank AM is the first Spanish and European management company to receive the ’EFQM 500 Seal’ for its strategy focused on excellence, innovation and sustainability.
• ADVANCE: global initiative launched by PRI whose goal is promote Human Rights and tackle society’s main challenges.
• Climate Action 100+: initiative that promotes collective dialogues with companies from intensive sectors in an effort to reduce emissions, improve climate governance and set financial metrics for climate change.
• 2022 Global Investor Statement to Governments on the Climate Crisis: initiative promoted by corporate investors that urges governments to increase their climate ambitions.

Its Portuguese subsidiary, BPI Gestão of Ativos, has been awarded the top score (five stars) in Investment and Stewardship Policy for its advances in the organisation, strategy and implementation in this field, and also in Hedge Funds (Long/Short Equity – Incorporation) with the management of the BPI Alternative Iberian Equities Long Short Fund, with a market investment strategy and a neutral factor that incorporates ESG factors into its management. The manager endorsed the PRI in 2019 and remains strongly committed to responsible investing as it strives to be a leader in the Portuguese market in the area of sustainability.