"This savings bank is an institution with economic interests, but more than this and above this, it is a work of social ideals"
(1927).
Particulars > Corporate responsibility > Our approach
Our approach
"la Caixa", a responsible company
Corporate responsibility consists of acting in line with the values of trust, social commitment and excellence in service, with the aim of contributing to the economic and social development of society. This line of action guarantees the long-term solvency and efficiency of the Entity and includes the protection of the environment and the social impact of its operations.
The Entity was founded in 1904, as a savings bank, with the social aim of avoiding financial marginalisation and of commitment to the social and economic development of Catalonia.
Since it was set up, "la Caixa" has maintained an operating policy based on economic efficiency and responsible operations.
Francesc Moragas Barret
(Founder and First Chairman and CEO)
As was the case then, the shared conviction has continued to burn in the heart of ”la Caixa” that only the long-term business view, good corporate governance and sustainable and responsible action can secure the future and success of its organisations, which have to respond honestly to all its stakeholders: customers, employees, suppliers, regulators and society as a whole.
Consistent with this idea
- "la Caixa" does not understand corporate responsibility as an advertising strategy or mere philanthropy, despite having a major Foundation / Welfare Projects.
- Its business vision affects its general management and its present and future strategies.
- The Entity in its entirety participates in their development and practice.
Isidro Fainé, Chairman
"Helping people is our most significant motivation"
Juan María Nin, CEO
"The social commitment of the entity is our ultimate raison d’être, the most basic one, the one that guides all our financial operations."
Its commitment to sustainable operations, which have to contribute added value to the entity, includes the organisation’s whole chain of value, from the origin of its funds and resources to their application and investment.
Thus, to decide on management strategies, the following are taken into consideration:
- The economic and financial aspects of its business.
- Responsibility towards the environment.
- Customer satisfaction.
- The needs of its employees.
- Relationships with suppliers and collaborators.
- Its effects on the communities and places where it is present.
Responsibility and stakeholders
”la Caixa”, in line with its values of trust, social commitment and excellence in service, and basing itself on the practices of good corporate governance, seeks to create value and to respond to the people and groups with which it inter-relates:
Socially oriented management
Corporate Responsibility underlies both the Entity’s day-to-day administration and its general strategy. Given its transversal character, it affects every area. It is based on the principles of transparency and good practice that are the main elements in good corporate governance.
In its development and as a corporate commitment, it relies on the support and involvement of Senior Management and all other members of the organisation.
In addition, as an example of its importance to the Entity, a body with specific functions on the question has been set up: the Corporate Reputation Committee, which is in charge of defining, implementing and overseeing the Entity’s Corporate Responsibility policies.
The Committee is linked to the Management Board through the President’s office.
Functions and objectives
The Committee is responsible for:
- Identifying, monitoring and managing present and future opportunities and risks to reputation.
- Working with the Management Board to determine policy and the main lines of reputation management.
- Establishing measures of control and management in questions of Responsibility.
- Selecting and reviewing the key numerical indicators of Responsibility.
- Reviewing and approving Corporate Responsibility programmes.
Members and meetings
The Committee consists of senior managers from various areas of the Entity: Communication, Corporate Responsibility, Audits, Marketing, General Risk management, Quality, Brand, General Services, Human Resources, Welfare Projects and Management in different geographical areas.
The decisions and policies adopted by the Committee are implemented with the support of all its members. Despite this, concrete management goals can be delegated to a particular member, depending on his/her specific responsibilities.
The Committee meets once a quarter, although meetings can be called earlier or more often, if the occasion warrants it.
Participation in external initiatives
”la Caixa” belongs to a number of partnerships and initiatives, both in Spain and internationally, whose aim is to advance together on questions of corporate responsibility and the exchange of good practice on the question:
The United Nations Global Compact
In September 2005, ”la Caixa” joined the Global Compact, an international initiative promoted by the United Nations, whose aim is to get companies worldwide to adopt voluntarily an ethical commitment, by which their business strategies, their day-to-day operations and their organisation’s culture comply with ten universal principles on human rights, labour, environmental and anti-corruption questions.
- In joining, ”la Caixa” undertakes to:
- Respect the protection of basic human rights.
- Make sure its companies are not accomplices in human rights violations.
- Give support to freedom of union membership and recognition of collective bargaining.
- Eliminate any kind of forced and compulsory work.
- Abolish child labour.
- Support the abolition of discriminatory practices in the place of work and employment.
- Maintain a preventive approach favouring the environment.
- Foster initiatives that promote greater environmental responsibility.
- Favour the development and spread of technology that is respectful to the environment.
- Work against corruption in all its forms, including extortion and bribery.
- In addition, ”la Caixa” must work actively to extend and introduce these principles and other responsible practices in its business, among its partners, subsidiaries, collaborators, customers and consumers, and in society as a whole.
- The subsidiary companies of ”la Caixa” also belong to the Global Compact.
- Contracts with suppliers include a clause that they must accept in which they state that they know and respect these ten principles.
- The establishment of partnerships in order to advance in more ambitious development objectives, such as the United Nations Millennium Goals, also forms a part of its commitment.