Climate Change Data

Renta 4 Banco, S.A.

Climate Impact & Sustainability Data (2008, 2015, 2022)

Reporting Period: 2008

Environmental Metrics

ESG Focus Areas

  • Education
  • Community work

Social Achievements

  • Launched several programs tied primarily to education via the Renta 4 Foundation, including a collaboration agreement with the Entreculturas Foundation.

Governance Achievements

  • Improved operating efficiency and profitability of all business lines.
  • Implemented cost containment measures.

Climate Goals & Targets

Medium-term Goals:
  • Assess opportunities for non-organic growth by acquiring or merging with other entities.
Short-term Goals:
  • Make the organization more efficient, focusing on the distribution network and ongoing upgrades to the technology platform.
  • Increase the number of customer accounts and add to assets under management.

Environmental Challenges

  • Global financial crisis impacting the real economy and capital markets.
  • Widespread slump in the overall asset management sector.
  • Growing financial market volatility.
Mitigation Strategies
  • Focus on customer service and care, generating recurring revenue and sustained operating profits.
  • Distribution of BME shares to shareholders to eliminate assets causing short-term earnings swings.
  • Targeting increased efficiency in 2009, focusing on distribution network and technology upgrades.
  • Assessing opportunities for non-organic growth through selective acquisitions or mergers.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Reporting Period: 2015

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

  • The existence of a protracted and deep recession in Spain and abroad, which is having a material impact on all sectors of the economy, with specific ramifications for the financial sector.
  • The ongoing increase in non-performing debt levels.
  • Stock market volatility and continued corrections, coupled with the sovereign debt crisis.
  • Difficulty in renewing wholesale funding lines and higher borrowing costs.
Mitigation Strategies
  • The Bank’s continued solid customer base.
  • Access to European Central Bank liquidity.
  • Capital in excess of current requirements and capital buffers such as the conversion of bonds into shares
  • Cumplimiento del ratio de liquidez

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS-EU

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:827.7 t CO2 (2021); 68.56 t CO2 (Scope 2, Spain) + 11.6 t CO2 (Latin America)
Scope 2 Emissions:68.56 tCO2e (2022, Spain)
Renewable Energy Share:80.52% (Spain, 2022)
Total Energy Consumption:1,739,511.31 kWh (2022, Spain) + 60,341.26 kWh (2022, International)
Water Consumption:4,315 m³ (2022)

ESG Focus Areas

  • Environmental Protection
  • Social and Personnel Management
  • Human Rights
  • Corruption and Bribery
  • Society
  • ESG Commitment
  • EU Taxonomy of Sustainable Finances

Environmental Achievements

  • Reduced energy consumption by 4.44% compared to 2021, despite increased office space and staff.
  • Reduced energy consumption at headquarters by 4.76% in 2022 compared to 2021.
  • Replaced conventional air conditioning with a variable volume flow control system in four offices, resulting in 25-30% lower energy consumption.
  • Increased renewable energy share to 80.52% of total electricity consumption in Spain in 2022.

Social Achievements

  • Maintained a low employee turnover rate of 1.93% in 2022.
  • 99.2% of the workforce has a permanent employment relationship.
  • More than 12,400 hours of training provided to employees in 2022.
  • Over 95% of employees received ESG training.
  • Implemented a hybrid teleworking model.

Governance Achievements

  • Established a methodology for calculating the carbon footprint in accordance with the GHG Protocol.
  • Included ESG risk in the Risk Appetite Framework.
  • Implemented policies to comply with Article 31 of Law 10/2010 on internal control measures at the group level.
  • Revised and updated the Internal Rules of Conduct.

Climate Goals & Targets

Medium-term Goals:
  • Establish decarbonisation as an SDG.
Short-term Goals:
  • 100% renewable energy for Renta 4 Banco in Spain by 2024.

Environmental Challenges

  • Data limitations in water consumption and waste data due to factors like the pandemic and incomplete data collection.
  • Changes in energy distribution companies' generation mix affecting renewable energy share.
  • Need to extend the Code of Conduct to foreign subsidiaries.
  • Achieving equal pay between men and women in certain professional categories.
Mitigation Strategies
  • Progressive implementation of improvements in office facilities to improve water efficiency (timed taps and dual-flush toilets).
  • Renegotiated contracts with energy suppliers to recover electricity generation from renewable energy sources.
  • Contracted ALPE ENERGY to guarantee an agile reaction in renegotiating energy contracts.
  • Work underway to extend the Code of Conduct to foreign subsidiaries.
  • Implementing a “job map” to establish salary levels for each position based on responsibility, functions, and experience, regardless of gender.

Supply Chain Management

Responsible Procurement
  • Outsourcing policy considering ethical principles, data protection, security, and sustainability criteria.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Sustainable Products & Innovation

  • Tools allowing investors to carry out investment activity considering sustainability factors.