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Sustainable offer

 

We are creating sustainable opportunities


Being attentive to the environmental and social impacts of our financial products and services is one of our commitments. That is why we are developing our offer by evaluating the effects and business opportunities in parallel with the expectations of our stakeholders.

Sustainability in our offer

We want to support our customers on their journey towards a more sustainable world. To this end, we are providing solutions that follow ESG policies and principles, by offering products with environmental, social and governance criteria.

Products with environmental aspects

Aware of our role as a financial organisation, we want to encourage sustainable investment practices to more quickly achieve a carbon neutral economy by 2050.

Accounts 18.25. and 26.31

We created the first completely carbon-neutral bank account in Portugal - (e)mission neutral certified® - today subdivided into two new accounts - 18.25 and 26.31 - which are more adapted to the needs of younger age groups.

They were developed to have a lower environmental impact, and are low-carbon accounts because they are online and because their emissions are neutralised, following the PAS 2050:2008 methodology that analyses the life cycle of products and services.

These accounts neutralise emissions that cannot be avoided by supporting Kamuthi, a project to install a solar photovoltaic park to replace energy production from coal-fired power stations. This project not only reduces carbon emissions but also channels social and economic benefits to local communities by creating 285 jobs for people from villages near the solar park.

Making these accounts carbon-neutral is equivalent to saving:

  • 383 return flights in economy class for one passenger between Lisbon and London;

  • CO₂ emissions resulting from the consumption of 584 barrels of oil;

  • Enough gas to fill 50 hot air balloons;

  • The annual CO₂ emissions absorbed by 21 hectares of pine forest.

The associated Greenhouse Gas (GHG) emissions were calculated, including the entire life cycle of these bank accounts: from opening to closing, including the use of computers, cards, ATM enquiries and novobanco Online. This calculation was carried out in full alignment with the PAS 2050:2008 methodology, which specifically analyses the life cycle of products and services, and led to the conclusion that each new Account 18.25 and 26.31 has an estimated carbon impact of 944g.

 

Find out more about accounts 18.25 and 26.31.

novobanco ECO mortgages

This offer has an environmental dimension that enables customers to benefit from a bonus on the spread if they purchase a property with A+, A or B energy certification.

Personal loans - Hybrid and electric vehicles

Car loans (new and used) for the purchase of green mobility vehicles (plug-in, electric hybrids and non-electric hybrids), with a 1% subsidy on the Personal Credit Line pricing strategy.

Renewable Energy Credit

An environmental offer that enables customers to purchase any renewable energy product at a more attractive rate.

Products with a social dimension

In view of the versatility and importance of a bank account in people's daily lives, at novobanco we endeavour to tailor our offer to the realities and needs of our customers, especially as regards savings products, based on a savings plan tailored to each person's family budget.

This positioning has led to the availability of a package of Micro Saving solutions, which includes three products to encourage savings behaviour in customers by depositing small, regular amounts and rounding up accounts, among others.

  • Planned saving: You can save as little as 10 euros a month by signing up to a monthly instalment plan, in which you set the amount and time of the month to save, allowing you to adjust your savings to your family budget.

  • Micro Saving: This enables any customer to start saving small amounts by rounding up the amounts for everyday expenses and transferring them to a savings account.

  • Savings by objectives: Exclusive product for customers who subscribe to the novobanco app, which lets you define your savings objectives (how much you want to save and in how much time), with the path to achieving the objective being defined by the app.
Minimum Banking Services Account

Current account with debit and credit card with an annual maintenance fee of 4.72 euros, which fulfils the objective of providing financial services with greater coverage and social inclusion and is aimed at:

  • Individuals who do not hold another current account with any other institution or who hold a single current account to be converted into a minimum banking services account;

  • People who hold other current accounts but wish to open a minimum banking services account where one of the holders is over 65 or dependent on a third party.

Microcredit

Funding that boosts social inclusion and the creation of self-employment, in close collaboration with organisations on the ground that promote entrepreneurship, specific training and professional reorientation, access to markets and social support.

Structured Products

We focus on the marketing of structured products, whose remuneration is linked to the performance of stocks from companies that excel in their ability to lead social and government changes with environmental criteria.

The selection criteria for companies undergo a rigorous evaluation process, in compliance with the Bank's risk policy, including sectoral exclusion criteria (ineligible companies involved in the production or sale of tobacco, coal mining industry, nuclear energy) and exclusion criteria for practices involving violations of human and labor rights, including child and/or forced labor.

The four ESG structured savings products subscribed in 2022 represent a total investment of 193.2 million euros in ESG/ECO products in the client portfolio at the end of 2022. In turn, ESG structured products and novobanco ECO have a weight of 58.8% in the total portfolio of available structured products.

 

Learn more about structured products.

 

We are creating sustainable opportunities

Being focused to the environmental and social impacts of our financial products and services is one of our commitments. That is why we are developing our offer by evaluating the effects and business opportunities in parallel with the expectations of our stakeholders.

Credit Lines

Sustainability Line

This line aims to support businesses in their energy transition to a low-carbon economy and/or companies that are eligible under the Taxonomy arising from Regulation (EU) 2020/852 of the European Parliament and of the Council.

Line for Decarbonisation and Circular Economy

This line aims to facilitate access to funding to implement sustainable projects, with the following being eligible: investment in innovative and efficient equipment, investment in renewable sources for self-consumption in the production process or in circular strategies for any stage of the product/service life cycle, the implementation of monitoring, control and action devices to optimise conditions of use, energy consumption and consumption of raw materials, among many others.

SME Consulting services

To help our customers in the energy transition process, we have establish  into ESG partnerships with PWC, ISQ and PKF. Consulting services include diagnosing and calculating carbon footprints, defining sustainability strategies, decarbonisation solutions and certification projects.

 

Find out more about SME consulting services.

Asset Management

Responsible investment recognises the importance of environmental, social and governance factors in the success of investments and long-term stability. Following this premise, we offer investment funds with ESG criteria from entities outside the Group, which are diversified in terms of both geography and investment strategies.

The bank classifies these funds into two categories:

  • Article 8 SFRD (Sustainable Finance Disclosure Regulation): Funds that invest in companies with environmental, social and governance considerations;

  • Article 9 SFDR: Funds that aim for sustainable investment with environmental, social and governance considerations.

In 2022, 48 funds with ESG criteria were made available with a subscription of 411.2 million euros.

 

Find out more here about the list of funds

Did you know that you can choose sustainability preferences in your investments?