Banking on progress

As a result of recent accomplishments, CGD has cemented its position as a leading market institution and regularly benchmarks the best and most effective practices in the Portuguese financial sector. The bank is firmly committed to sustainable development and currently boasts the most comprehensive and structured sustainability programme in Portugal’s finance sector. The programme has been recognised by outside organisations, both nationally and internationally, in terms of the monitoring and auditing performed by the firm and through the recognition and awards the programme has received. Sustainable performance – underpinning CGD’s 135-year history – is reflected in the voluntary adoption of a set of economic, environmental and social commitments that extend far beyond its legal obligations and needed compliance. The obligations aim to engender an overall positive impact at the level of economic and sustainable development by enhancing competitiveness, internationalisation, the innovation capacity of companies, job creation, financial inclusion and the promotion of responsible consumption and renewable energy.

In 2011, CGD strengthened its commitment to sustainability by publishing the first ‘Carbon Neutrality Report’, which also constitutes the first report of its kind in the Portuguese financial sector.

Building an environment
2012 is aiming to be the international year of ‘Sustainable Energy for All’; CGD will continue to implement projects aimed at boosting the institution’s energy efficiency and reducing its own level of carbon emissions.

Initiatives include a focus on renewable energies, the adoption of low∞carbon technologies in buildings, innovation in business processes, mobility, efficient management of the solar thermal station at CGD’s head office in Lisbon and the installation of photovoltaic solar panels in 90 branches of the bank’s network. In addition to appropriate waste management, based on ‘energy efficiency’ (trying to consume less), ‘renewable energy’ (diversify power sources) and ‘environmental impact’.

CGD has been developing the ‘Caixa Carbono Zero’ (Caixa Zero Carbon) programme since 2007, which consolidates Caixa Geral de Depósitos’ strategy for combating climate change, which entails both internal action – taking responsibility for quantifying, reducing and offsetting its own emissions – and by its actions in the market and social sphere, thereby helping to contribute to a low carbon economy in Portugal.

Under this programme, CGD has been providing, since 2006, an annual inventory of greenhouse gas emissions (GHG), in relation to banking activities in Portugal, formulated in accordance with the ‘Greenhouse Gas Protocol’ methodology, which is currently the most recognised international standard for preparing vast corporate emissions inventories.

The establishment of internal measures and goals to reduce emissions is essential for implementing the strategy to combat climate change, for which CGD has defined quantified objectives for reducing greenhouse gas emissions and energy consumption for the period 2011-2015.

CGD acknowledges the need to develop coherent environmental management practices, based on the best international standards available, among which include: the ‘International Statement’ by several financial institutions on the environment and sustainable development, the ‘Carbon Disclosure Project’ (CDP) and UNEP-Finance Initiative (Innovative Financing for Sustainability) and the ‘Charter for Responsible Business’ from WSBI/ESBG.

At the same time, CGD continues to provide financial products that contribute positively to the environmental impact of economic activities. These include a shift in communications with customers – particularly via bank statements – to digital formats; promoting more responsible behaviour, such as the “Guia Dia-a-dia Carbono Zero” (day-to-day zero carbon guide) and offering customers the ‘Carbon Calculator’, for the purpose of supplying information on each person’s carbon footprint, showing the amount of carbon dioxide and other greenhouse gas emissions associated with day-to-day activities.

Care within the community
CGD’s responsibility is not just limited to its ability to achieve good financial results. Part of its history is to constantly promote the best practices in addressing the challenges of Portuguese society during different times and situations, always striving to provide direct support to various social responsibility initiatives.

Therefore, in its recognition that community involvement (internal and external) is one of the pillars of its sustainable trajectory, CGD’s commitment to the community is based on an innovative and comprehensive form of social intervention. The firm promotes financial inclusion and centres its own actions on social entrepreneurship, microcredit and microfinance, as well as social innovation, with the need to be at the forefront of meeting the many challenges emerging in Portuguese society. In 2011, CGD joined the London Benchmarking Group (LBG), an association of more than 100 international companies committed to measuring the social impact of their investments in the community.

CGD participates in an innovative and ongoing manner, encompassing a wide variety of areas, making a contribution to society in terms of more than just its financial knowledge. By promoting financial inclusion and literacy – as well as environmental goals – with the aim of providing information to nurture financially responsible behaviour.

CGD’s commitment to the community is based on constant and committed support to activities in different areas, supplying answers to the real needs of society and meeting the expectations of ordinary citizens.

An inclusion solution
In acknowledgment of the growing importance of background material for the responsible management of personal finances, CGD has developed initiatives that help educate citizens about the requirements imposed by the diversity of financial products (www.saldopositivo.cgd.pt) and developed the “Educação + Financeira” campaign (education + financial programme).

‘Saldo Positivo’ is CGD’s financial literacy programme. Launched in 2008, it represents a pioneering initiative in Portugal, which falls under CGD’s community involvement policy. It seeks to provide individuals with access to personal finance knowledge that will equip them to make more mindful and enlightened financial decisions, thus preventing over-indebtedness. The next steps for ‘Saldo Positivo’ is the creation of a venue for financial literacy and management for SMEs – an effort that reflects Caixa’s emphasis on the economy and Portuguese companies which it deems to be a priority in the coming years.

Educação + Financeira is a financial literacy exhibition, developed by Caixa in partnership with the University of Aveiro. This ongoing initiative has just entered its second year and focuses on helping educate consumers to be appropriately informed on their banking accounts, more aware of financial realities and better prepared to face the difficulties and challenges of everyday life.

The project, which last year reached more than 14,000 young people, will once again travel throughout the country ending in April 2012. Its goals are to bring – especially to the younger population (from seven to 17 years of age) – different content and games related to financial issues that everyone faces in day-to-day life.