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THE RESPONSIBLE MANAGEMENT POLICY IS THE FRAMEWORK THAT SUSTAINS THE BANK’S CORPORATE SOCIAL RESPONSIBILITY.

IN FEBRUARY 2016, BANKIA’S BOARD OF DIRECTORS APPROVED THE 2016-2018 RESPONSIBLE MANAGEMENT PLAN, WHICH IMPLEMENTS THE BANK’S RESPONSIBLE MANAGEMENT POLICY.

The plan takes into account both the bank’s strategy and the opinion of its various stakeholders. Accordingly, the two fundamental axes of the Responsible Management Plan are stakeholder listening and dialogue, on the one hand, and continuous supervision and assessment of the actions envisaged in the plan, on the other.

Bankia’s main lines of work in 2017 and the degree of achievement of each project are summarised in the following chart:

  • CORPORATE GOVERNANCE
  • CUSTOMERS
  • EMPLOYEES
  • SOCIETY
  • SUPPLIERS
  • ENVIRONMENT

Objective

Foster a culture of transparency and integrity that protects the interests of all stakeholders.

Initiative

Degree of achievement

Prepare an action plan based on the suggestions arising from the board assessment.

Develop the extra-financial risk map.

Objective

Honest relationships that match customers’ real needs. In Bankia the customer is the greatest asset, so offering the customer high levels of professionalism and high quality service is a core objective.

Initiative

Degree of achievement

Develop a procedure to ensure adherence the responsible marketing rules in the conduct of campaigns.

Improve the customer experience in terms of simplicity, proximity and transparency.

Objective

Work and move forward under a common project, where a culture of responsible management permeates every aspect of the business and success for Bankia means success for everybody.

Initiative

Degree of achievement

Increase the number of women in senior management posts.

Increase employee involvement in process improvement and stakeholder relations by 4% compared to 2016.

Objective

Listen to, identify and support the real needs of the environment. The Bank will work to ensure that growth is positive and sustainable for all parties involved.

Initiative

Degree of achievement

Increase the volume of assets managed under esg criteria.

Measure and disclose the social and economic impact of the bank’s activity.

Increase social investment and the number of beneficiaries.

Objective

Extend the responsible management commitment to the supply chain. Bankia works closely with suppliers to apply best ethical, social and environmental practices and build lasting relationships. .

Initiative

Degree of achievement

Reduce the payment period to suppliers to less than 30 days.

Improve overall supplier satisfaction.

Objective

Respect the environment and assume responsibility for any impacts arising from the bank’s activity. Work to reduce the bank’s environmental footprint and promote responsible attitudes among employees, suppliers and customers.

Initiative

Degree of achievement

Approve the eco-efficiency and climate change plan.

Renew the iso 14001:2015 environmental certification of the bank’s buildings.

Source 100% of electricity from renewable sources.

 Target met    Target in progress

RESPONSIBILITY, SUPERVISION AND ASSESSMENT

Ultimate responsibility for Bankia’s corporate social responsibility rests with the Board of Directors. In December 2015 the remit of the Appointments Committee was extended to include the management of responsible management policy and the committee’s name was changed to that of Appointments and Responsible Management Committee. Made up of three independent directors, its function is to review and assess the bank’s corporate social responsibility policy and practices and oversee relations with stakeholders.

On the other hand, all of Bankia’s responsible management initiatives and projects are driven by the Responsible Management Committee, whose work in 2017 centred on issues such as the approval of the Eco-efficiency and Climate Change Plan, the quarterly monitoring of the 2016-2018 Responsible Management Plan and the updating of the Reputational Risk Policies and Procedures Manual.

Responsible management governance structure

THE SOCIOECONOMIC CONTRIBUTION

In August 2017 Bankia conducted its first Socioeconomic Impact Study, using data as of year-end 2016. The study shows the nature and extent of Bankia’s activity as a financial institution and the contribution it makes through job creation and tax compliance and through its relations with suppliers. It also reports on the bank’s contribution through social action aimed at assisting the transformation and development of society and the well-being of beneficiaries.

In 2018, Bankia plans to participate in the Social Impact Cluster promoted by Forética, which will help to identify and disseminate to companies the main trends in value creation for society.

ACTIVE LISTENING FOR IMPROVEMENT

In 2017 Bankia carried out a materiality analysis to identify the main issues for the bank’s responsible management through active listening to stakeholders and comparison with the internal perspective.

The study involved more than 2,500 consultations of external stakeholders, which included 40 in-depth telephone interviews, 2,372 customer responses and two debate sessions (one with minority shareholders and one with retail customers).

At the same time, in order to elicit the internal perspective, more than 90 consultations were conducted with the banks’ professionals, including 76 online consultations of members of the Responsible Management Committee and senior managers of Bankia and three debate sessions with employees (one online in Valencia and two face-to-face in Madrid).

The main change in the materiality matrix for 2017 is the inclusion of the risk variable, which serves to gauge stakeholders’ tolerance and attitudes towards potential events, so as to improve the bank’s management.

The issues that both external and internal stakeholders (i.e. shareholders and investors, customers, suppliers and society as a whole vs. employees) consider most important are those linked to generating economic strength, business relationships and honest behaviour by the bank’s people, and issues to do with keeping pace with technology. Questions of corporate governance, responsible marketing, solvency, ethics, and innovation and multichannel marketing are also considered important.

CHANNELS OF DIALOGUE

Bankia maintains ongoing communication with its stakeholders through different channels, in which it gives account of its day-to-day activities and events. Written communication is one of its main tools, so in 2017 Bankia started a project to transmit clearer messages.

GLOBAL COMPACT AND CONTRIBUTION TO SDGs

Bankia is a member of the UN Global Compact and undertakes to respect its Ten Principles, which include fundamental principles on human rights, labour standards, the environment and anti-corruption.

Also, following the approval of the UN’s Sustainable Development Goals (SDGs) in September 2015, Bankia undertook to contribute positively to the achievement of the 2030 Agenda for Sustainable Development.

To do that, the bank has integrated the SDGs in the lines of action set out in the 2016–2018 Responsible Management Plan. The purpose of incorporating the SDGs in Bankia’s sustainability strategy is not only to reduce or eliminate the less beneficial impacts of the bank’s activity but also to have a positive impact on stakeholders.

Bankia has identified the goals over which it has some influence through its activity and through its social action projects and initiatives.

  • 1 END POVERTY
  • 2 ZERO HUNGER
  • 3 HEALTH AND WELL-BEING
  • 4 QUALITY EDUCATION
  • 5 GENDER EQUALITY
  • 8 DECENT WORK AND ECONOMIC GROWTH

Objective

Collaboration with bodies and entities to improve people’s lives.

Actions

Chapter

  • Support for associations, foundations and NGOs
  • Social rent and affordable housing

Objective

Commitment to institutions and bodies to ensure that people with difficulties have access to basic food.

Actions

Chapter

  • Corporate volunteering
  • Support for associations, foundations and NGOs

Objective

Promotion of healthy living and universal well-being at work and in society .

Actions

Chapter

  • Employee benefits
  • Occupational risk prevention
  • Red Solidaria
  • Support for associations, foundations and NGOs

Objective

Universal access to quality education that favours professional development and employability

Actions

Chapter

  • Training of professionals
  • Dual education and vocational training
  • Financial education

Objective

Commitment to equal opportunities and non-discrimination in professional development and training.

Actions

Chapter

  • Talent management
  • Training of professionals
  • Workforce profile

Objective

Provision of optimal working conditions based on collective bargaining, support for quality employability of vulnerable groups and promotion of entrepreneurship for economic and social development.

Actions

Chapter

  • Human rights

01.7 Responsible commitment

  • Employment conditions
  • Integration of people with disabilities
  • Dual education and vocational training
  • Employment
  • Supplier approval process
  • Supplier profile
  • 9 INDUSTRY, INNOVATION AND INFRASTRUC-
    TURE
  • 10 REDUCTION OF INEQUALITIES
  • 11 SUSTAINABLE CITIES AND COMMUNITIES
  • 12 RESPONSIBLE PRODUCTION AND CONSUMPTION
  • 13 CLIMATE ACTION
  • 16 PEACE, JUSTICE AND STRONG INSTITUTIONS

Objective

Provide employees and customers with access to resources and financing to enable sustainable investment in infrastructure and technology.

Actions

Chapter

  • Technology
  • Innovation Observatory
  • Financing for self-employed business owners, micro-enterprises, SMEs and corporates
  • Soluciona Empresas
  • Corporate Banking and Capital Markets

Objective

Reduce inequality through inclusive, practical education that facilitates employability and access to living conditions on equal terms and promote knowledge of products and services so that people may choose the best way to relate to their bank.

Actions

Chapter

  • Dual education and vocational training
  • Integration of people with disabilities
  • Red Solidaria
  • Financial education

Objective

Provide products and services that use resources more efficiently and reduce pollution.

Actions

Chapter

  • Socially and environmentally-oriented products

Objective

Commitment to sustainable financing and responsible consumption, so as to achieve a balance between business activity and the environment we live in, enhance competitiveness and differentiate ourselves from competitors.

Actions

Chapter

  • Socially and environmentally-oriented products
  • Socially responsible investment
  • Social and environmental risk
  • Financing of controversial industries

Objective

Find solutions to make the bank’s activity more sustainable and environmentally responsible and to combat climate change

Actions

Chapter

  • Socially and environmentally-oriented products
  • Socially responsible investment
  • Eco-Efficiency and 2017–2020 Climate Change Plan

Objective

Build an honest and responsible company in which compliance with the law and business development are perfectly aligned.

Actions

Chapter

  • Code of Ethics and Conduct
  • Criminal risk prevention
  • Prevention of money laundering and the financing of terrorism
  • Tax policy
  • 17 ALLIANCES TO ACHIEVE THE GOALS

Objective

Collaborate with initiatives and bodies with shared values to promote sustainability of the activity and proper development of the environment and society.

Actions

Chapter

  • Advocacy groups and lobbies

01.7 Responsible commitment

  • Support for associations, foundations and NGOs

PRESENCE IN SUSTAINABILITY INDICES

Non-financial information is becoming increasingly important to analysts and investors, as well as to regulators and the general public. It is therefore very important for them to know the assessment of Bankia’s environmental, social and governance performance, which is recognised through the bank’s inclusion in some of the world’s leading sustainability indices. Among them are the Dow Jones Sustainability Index, which includes only 28 banks worldwide; the FTSE4Good Index, designed to facilitate investment in companies that manage their businesses in accordance with ESG (environmental, social and good governance) criteria; and CDP Climate Change.

INFLUENCE AND LOBBIES

Bankia supplements its efforts to grow and strengthen the financial sector and the economy as a whole by collaborating with the industry institutions, trade associations and business organisations of which it is a member.

This is a way for Bankia to defend the interests of the industry, its own interests and the interests of its stakeholders in matters such as:

  • Amendments and adaptations to laws and regulations.
  • Improvement of competitiveness.
  • Identification and diffusion of good business practices.
  • Participation in training programmes.
  • Social commitment.

Bankia is a member of, among others, the Spanish network of the Global Compact, Cecabank, the Spanish employers confederation CEOE, the Spanish Chamber of Commerce, Spainsif (Spanish forum for responsible investing) and Forética. The bank contributes almost 835,000 euros to these business initiatives through its membership dues, which are the only financial contribution it makes.

Bankia does not make contributions to political parties or trade unions because its Code of Ethics and Conduct prohibits it.

HUMAN RIGHTS

After the merger with BMN, Bankia has 8.1 million customers, to whom it provides a wide range of financing and investment products and services. At year-end, 13,122 people worked in Bankia. The bank carries on its activity with the support of the services provided by 712 active approved suppliers, which supply all the goods and services needed for its activity.

Given the scale of Bankia’s presence in society and the influence it has, directly and indirectly, on the behaviour of the individuals, groups, companies and organisations with which it has relations, the bank accepts the importance of being publicly committed to principles and initiatives in favour of respect for and compliance with human rights.

Bankia states this commitment in its Code of Ethics and Conduct and implements it in the Memorandum of Respect for and Compliance with Human Rights, approved by the Board of Directors in October 2016. The commitment is based on the United Nations Guiding Principles on Business and Human Rights, the obligation of States to protect against violations of those rights, the responsibility of companies to respect them and the need to provide victims with the necessary mechanisms to remedy possible infringements.

Furthermore, by incorporating its responsibility in this matter in its strategy through lines of action of the 2016-2018 Responsible Management Plan, Bankia acts on the undertaking to apply the UN Guiding Principles on Business and Human Rights, which are established in the National Action Plan on Business and Human Rights.

In this context, Bankia acts as:

Employer

Bankia’s employment policies are governed by applicable Spanish law. Employees’ employment conditions are set out in the Collective Agreement for Savings Banks and Financial Institutions for the period 2015–2018 and the trade unions participate very actively in collective bargaining.

The bank respects freedom of association and social dialogue. There is 400 union delegates in the workforce. In 2017, unionised employees spent 40,185 hours on union activities

Provider of products and services

Bankia preserves and safeguards the privacy of customer data not only by preventing its use for marketing purposes but also by ensuring that all the necessary measures are adopted to prevent data leaks and misuse.

To help customers and non-customers make informed decisions about their daily finances, Bankia has undertaken various financial education initiatives that facilitate an understanding of the products and services it offers. In addition, the bank offers the possibility of purchasing financial products and services through a wide range of face-to-face and remote channels. Bankia also has a Responsible Marketing Code.

The bank manifests its commitment to human rights in its banking activity by offering a range of products with social and environmental purposes. It also has a policy on the financing of controversial industries that restricts investment in, and lending to, customers that fail to respect human rights

Contractor

Bankia has 712 active approved suppliers and its procurement volume amounts to 649 million euros. The bank has established supplier management rules to stimulate, promote and ensure respect for human rights.

The purchasing policy establishes a framework for collaboration between the bank and its suppliers and makes it a requirement that suppliers comply with the laws and regulations of the countries in which they operate, giving special consideration to adoption of the principles of the Global Compact, the Universal Declaration of Human Rights and the fundamental conventions of the International Labour Organization. The supplier approval process includes an assessment of social, environmental and governance aspects.

Social agent

The strategic focus of Bankia’s social action is on the areas of housing and new poverty, employment and training, local development and disability. These areas directly affect the human rights of the environment in which Bankia carries on its activity and in which it works to foster access to decent housing and employment, the social integration of vulnerable groups and the eradication of poverty and social inequality.

Specifically, Bankia allocates homes at social rents to vulnerable individuals and families. It also helps people find work and improve their employability. Bankia has adopted the Code of Good Practices to protect mortgage debtors without resources and also takes voluntary steps to resolve the situation of families in situations of vulnerability who find themselves at risk of losing their homes

PRODUCTS WITH SOCIAL AND ENVIRONMENTAL IMPACT

 

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