Cajamar obtains the 'A' rating in Climate Change from CDP

Once again revalidates its leadership position for its performance in climate change and corporate transparency.  In Spain, only 17 companies have achieved the maximum rating, including two financial entities, one of which is Grupo Cajamar.

Grupo Cooperativo Cajamar once again revalidates its leadership position for its performance in climate change and corporate transparency. This is recognized by the environmental organization CDP by granting it the highest 'Leadership' category, with an 'A' rating on its annual list. It thus becomes one of the few qualified companies that have achieved this score. Specifically in Spain, only 17 companies have achieved the maximum rating, including two financial entities, one of which is Grupo Cajamar.

The CDP index, which has the largest environmental database in the world and is a global reference in the processing of data on carbon footprint and climate change management, transfers the information collected each year to institutional investors and interest groups on the actions and strategies of thousands of companies around the world, so that they can evaluate their business actions aimed at mitigating climate change and determine their level of preparation for changes in legislation on emissions reduction and market demands.

The cooperative bank Cajamar has been recognized for promoting and developing actions related to the challenges and opportunities associated with a low-carbon economy, especially related to the transformation of the agri-food sector, in particular with innovative programs linked to more efficient and sustainable food production. Likewise, the implementation of financial initiatives for the measurement and management of risks derived from climate change, its impact on the credit portfolio, as well as others aimed at transparency and management of the carbon footprint, responding to the new requirements for both qualification and disclosure.

In 2023 CDP has analyzed 21,000 companies, which have been classified from A (most committed) – only 346 companies worldwide have achieved this classification – to D (least committed), according to a methodology based on the exhaustiveness of the disclosure, awareness and management of environmental risks and the demonstration of best practices associated with environmental leadership, as well as the establishment of ambitious and meaningful objectives. Finally, those that provide insufficient information receive an F grade.

Grupo Cajamar, within the framework of the Net Zero Banking Alliance (NZBA) initiative, of which it is a founding signatory, has established a roadmap to decarbonize the sectors that emit the most greenhouse gases. To this end, it has set emissions reduction goals, for 2030, for those companies that are in its credit portfolio. Thus, energy companies will have to reduce their emissions by 38%, oil and gas companies by 19%, and steel companies by 11%.