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Responsible management

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THE NEW RESPONSIBLE MANAGEMENT PLAN DEVELOPED TO MEET THE CHALLENGES OF THE FUTURE TURNS BANKIA INTO A SUSTAINABLE BANK ALIGNED WITH THE SUSTAINABLE DEVELOPMENT GOALS.

Over the last three years Bankia has implemented a Responsible Management Plan, which was developed taking into account both the bank’s responsible management strategy and the interests of its various stakeholders.

The stakeholders were identified through internal consultation with the Responsible Management Committee and the bank’s senior managers, giving priority to the stakeholders that were most interdependent with the bank and most likely to influence the bank’s activity and decision making.

The two main focus areas of the 2016-2018 Responsible Management Plan were listening and dialogue with stakeholders and continuous supervision and assessment of the actions envisaged in the plan.

To evaluate the degree of compliance, a dashboard was prepared in which the various initiatives and their degree of completion were measured using specific indicators.  The dashboard was reported quarterly to the Responsible Management Committee and semi-annually to the Board of Directors.

Over the last three years Bankia has implemented a Responsible Management Plan, which was developed taking into account both the bank’s responsible management strategy and the interests of its various stakeholders.

The stakeholders were identified through internal consultation with the Responsible Management Committee and the bank’s senior managers, giving priority to the stakeholders that were most interdependent with the bank and most likely to influence the bank’s activity and decision making.

The two main focus areas of the 2016-2018 Responsible Management Plan were listening and dialogue with stakeholders and continuous supervision and assessment of the actions envisaged in the plan.

To evaluate the degree of compliance, a dashboard was prepared in which the various initiatives and their degree of completion were measured using specific indicators.  The dashboard was reported quarterly to the Responsible Management Committee and semi-annually to the Board of Directors.

THE MAIN INITIATIVES CARRIED OUT IN 2018 WERE AS FOLLOWS

2016-2018 RESPONSIBLE MANAGEMENT PLAN
STRATEGIC AREA OBJECTIVE INITIATIVE DEGREE OF ACHIEVEMENT

Foster a culture of transparency and integrity that protects the interests of all stakeholders and promote diversity in the bank’s governing body.

  • Preparing an action plan based on the suggestions arising from the board assessment
  • Promotion of gender diversity on the board of directors

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

  • Stakeholder participation in product and service design
  • Assurance of transparency and clarity in information to customers

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

  • Increase the number of women in senior management posts
  • Increase satisfaction with internal communication from 83.5%
  • Incorporate responsible management in workforce training

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.

  • Increase the volume of assets managed under ESG criteria
  • Have a portfolio of products and services that contribute to social development and environmental protection
  • Increase social investment and promote dual vocational training in the education system

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

  • Reduce the payment period to suppliers to less than 30 days
  • 100% of suppliers categorised by level of risk and approved

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.

  • Approve the eco-efficency and climate change plan
  • development of environmental awareness and training programmes for the bank’s professionals

2019-2020 RESPONSIBLE MANAGEMENT PLAN

Following successful completion of the bank’s first Responsible Management Plan, the new 2019-2020 Responsible Management Plan is designed to align Bankia’s sustainability with its strategic objectives and build the capabilities it will need in order to meet the challenges the banking industry is likely to face over the next few years.METHODOLOGY FOR PREPARING THE 2019-2020 RESPONSIBLE MANAGEMENT PLAN

METHODOLOGY FOR PREPARING THE 2019-2020 RESPONSIBLE MANAGEMENT PLAN

EXTERNAL PERSPECTIVE

Analysis of the expectations and perceptions of the most important stakeholder groups, carried out in the materiality exercise. Identification of the gap between perceived performance and actual performance, so as to identify key points of the Plan in line with the behaviours expected by the stakeholders.

RESULTS DJSI 2018

Analysis of the 2018 Dow Jones Sustainability Index results and identification of areas in which Bankia must improve in order to meet analysts’ expectations.

ANALYSIS OF PRIORITIES

Analysis of the main global trends and challenges for the financial sector. This, together with the stakeholder requirements and Bankia’s positioning in terms of proximity, simplicity and transparency, will help establish the action framework for the Responsible Management Plan.

RESPONSIBLE MANAGEMENT COMMITTEE

Working session with Bankia’s Responsible Management Committee to reflect on the main conclusions reached and the areas and lines of action identified.

AREAS INVOLVED

Discussion of the proposed lines and actions with the units concerned and setting of objectives and indicators for monitoring the Responsible Management Plan.

RESPONSIBLE MANAGEMENT PLAN 2019-2020

The plan has three main challenges:

  • Prevent risks in relation to social and environmental responsibility and good governance.
  • Support management through tighter control over internal processes, so as to foster continuous improvement and meet stakeholders’ expectations.
  • Drive leadership, so that Bankia stays at the forefront of its industry in sustain-ability.

The abovementioned challenges explain the plan’s five strategic areas, which give rise to fifteen lines of strategy, each with its action opportunities, specific objectives, performance indicators and persons responsible.

The new plan revolves around Corporate Governance, underpinned by sound values and a strong culture based on sustainability, risk management and relations with third parties and through the bank’s positioning based on Proximity, Simplicity and Transparency.

Corporate Governance stands at the centre of four broad areas: two that are crucial to the bank, namely, customer relations and customer satisfaction, on the one hand, and talent development and the commitment of the group’s professionals, on the other.

And two areas that are of strategic importance to the bank and the 2030 Agenda, namely, sustainable development and the transition towards a low-carbon economy, on the one hand, and Bankia’s contribution to society in the regions in which it operates, on the other.

The dashboard is reported quarterly to the Responsible Management Committee and semi-annually to the Appointments and Responsible Management Committee of the Board of Directors, so that decisions can be made and action and improvement plans can be designed on the basis of the results obtained.

GLOBAL COMPACT AND CONTRIBUTION TO SDGs

Since becoming a member of the UN Global Compact in November 2013, Bankia has continued to support the Compact’s 10 principles on human rights, labour standards, environment and anti-corruption.

In 2015, together with the approval of the 2030 Agenda, the UN also launched the Sustainable Development Goals, which set out a series of measures to end poverty, protect the planet and achieve global well-being.

These two initiatives are important to Bankia insofar as they help set priorities and identify opportunities that will lead to an improvement in sustainability and a better fit between the business model and the challenges over the 2030 horizon.

PRINCIPLES OF THE SPANISH METWORK OF THE GLOBAL COMPACT

RESPONSIBLE MANAGEMENT AND THE 2030 AGENDA

In its commitment to support the 2030 Agenda, Bankia has assessed its contribution to the SDGs taking its activity and mission as a financial institution, as a company and as a corporate citizen into account.

To do that, it has assessed the 169 SDGs from a double perspective:

  • Internal perspective: Bankia’s contribution to the SDGs: Bankia’s performance was assessed in light of the maturity of its contribution to each goal, the link to the strategy defined in the 2019-2020 Responsible Management Plan and the material topics set as priorities for the bank’s responsible management.
  • Country perspective: need for Spain to move forward in each SDG: consideration was given to the priorities reflected in Spain’s action plan for the 2030 Agenda, Spain’s self-assessment and the United Nations’ assessment of Spain’s performance.

The result allows Bankia to identify how its activity contributes on a priority basis, taking the need to improve Spain’s performance into account, to six of the 17 SDGs (7, 8, 9, 10, 16 and 17), including decent work and economic growth, industry, innovation and infrastructure, and accessible non-polluting energy.

Bankia’s activity also puts the focus on contributing to gender equality (SDG 5) and quality education (SDG 4). Likewise, the bank accepts SDG 13 on climate action as a global challenge to fight climate change.

MATRIX: BANKIA’S CONTRIBUTION VS. SPAIN’S NEED FOR PROGRESS

PRIORITY SUSTAINABLE DEVELOPMENT GOALS FOR BANKIA

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ANOTHER SUGGESTION

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