Kutxabank has granted in the first six months of the year more than 1,150 million euros in sustainable financing, aimed at favoring initiatives that promote the transition to a low-carbon economy. This figure represents a growth of 2.3% compared to the same period last year.
Kutxabank has highlighted its commitment to marketing products to finance the purchase of homes, carry out home renovations or acquire eco-efficient vehicles and appliances.
As detailed, a significant part of this sustainable financing has been allocated to the purchase of energy-efficient homes by the bank’s private customers, through the so-called Green Mortgage.
This loan offers special financing conditions for properties that have the highest energy certifications, as well as their protection through ‘Green Insurance’, whose volume of new policies has grown by 27% compared to the previous year.
Until the end of June, more than 2,850 operations included in this mortgage modality were subscribed, for a total value of 532 million euros, 1.2% more than in the same period last year. In addition, 24% of the total new mortgage production is included in this type of loan.
As for the volume of consumer loans approved in the ‘green’ segment, it has reached 5.7 million euros, 71% more than in the previous year. The financing has been directed at households that wish to improve their energy efficiency through insulation and air conditioning systems, or financing facilities have been given for the purchase of electric and hybrid cars, or vehicles powered by alternative fuels.
Kutxabank has also continued to support companies that have launched initiatives that contribute to the social and environmental development of their respective areas of influence.
Likewise, the divisions specializing in companies and institutions have approved operations worth more than 619 million euros in investments encompassed within the green and sustainable economy, which have favored projects for the generation and incorporation of renewable energies, activities that are committed to sustainable mobility, or that promote social, protected and energy-efficient housing, among other initiatives.
On the other hand, with the publication of its first climate report, Kutxabank has responded to the recommendations made by the TCFD working group of the Financial Stability Council, with the aim of offering the market an objective view of its strategy and management of opportunities and climate and environmental risks.
“Financial institutions are one of the key players in promoting the transition towards a more sustainable and low-emissions economy. Kutxabank is strongly committed to this work and, therefore, has consolidated ESG principles at the center of its business model. In this way, it collaborates in the achievement of international sustainability and environmental agreements such as the Paris Agreement or the SDGs”, he assessed.
After analyzing the potential opportunities presented by adaptation to climate change for different sectors such as energy, construction, mobility or the primary sector, Kutxabank has thus designed a commercial strategy to support its clients and stakeholders in the transition towards a low-carbon economy.
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