Creand Crèdit Andorrà creates a new Sustainability Unit in its banking structure
The unit will manage and coordinate the incorporation of ESG issues throughout the organisation’s corporate strategy and its products and services.
This marks a further step in the bank’s commitment to social progress and environmental protection.
Creand Crèdit Andorrà is incorporating into the bank’s corporate structure a new Sustainability Unit, which will report directly to the CEO. The main purpose of the new unit is to define strategic agendas in sustainability and drive the inclusion of environmental, social and governance (ESG) issues from the highest level and throughout the organisation. In doing so, Creand Crèdit Andorrà reaffirms its commitment to sustainability, especially the fight against climate change.
The new unit will be responsible for integrating sustainability into corporate strategy, risk management and investment decisions, along with other areas related to its offer of products and services. It will coordinate various initiatives in sustainable finance and the Environmental Management System.
Specifically, the main lines of work will be to drive the development of its action plan based on the United Nations Environment Programme Financial Initiative (UNEP Fi) Principles for Responsible Banking. It will also ensure European sustainability regulations are implemented in different jurisdictions in line with the highest international standards, design investment and financial products to bolster the bank’s strategy, integrate environmental risks in banking activity and consolidate the calculation of its carbon footprint.
The bank is a pioneer in its sector in creating a Sustainability Unit, a division that will be led by Martí Alay, who is trained in international trade and has a master’s degree in finance. He has a long career in the bank’s Investment and Business areas and internationally in the Creand group, giving him a holistic, wide-ranging vision.
Creand Crèdit Andorrà is the first bank in Andorra to adhere to the United Nations Global Compact and this commitment since 2016 has seen it join forces to integrate the United Nations Sustainable Development Goals (SDG) into its social responsibility strategy. The end goal is to harmonise its business criteria in social progress and environmental protection. The organisation has received recognition as the Best Andorran Bank in RSC in 2023 for its international financial publication Global Banking & Finance Review, an award it has received every year since 2015.