Sustainability Performance and Guiding Principles

Sustainability Reports

Our performance

We publish our Sustainability Report annually, integrated in our Annual Report, in accordance with the guidelines of the Global Reporting Initiative (GRI - Standard) and the principles of the AA1000APS standard.

Since 2023, we have also published the TCFD (Task Force on Climate-Related Financial Disclosures) Report, specifically targeted at financial information related to environmental impacts and climate change.

Sustainability Reports

Our Sustainability Reports are subject to verification, according to the principles defined by ISAE 3000 (International Standard on Assurance Engagements 3000), by an external and independent entity, Ernst & Young Audit & Associados - SROC, S.A.

Click on the entries below to learn more about our ESG strategy and performance.

2020 Sustainability Report

2021 Sustainability Report

2022 Sustainability Report

Task Force on Climate-Related Financial Disclosures Reports

Climate and environmental risks and opportunities have gained a central role in the European and Global strategy. In this context, we share the TCFD Report, which follows the recommendations of the Working Group on Climate-Related Financial Disclosures, established in 2015 by the Financial Stability Board (FSB), to address concerns around insufficient disclosure of climate-related risks and opportunities.

Click on the entry bellow to learn more about what are and how we integrate climate and environmental risks and opportunities in our business.

TCFD Report

Our Commitments

As part of our ESG strategy, in 2022 novobanco launched the second edition of the Social Dividend Model, a set of commitments, to be achieved by 2024, anchored in the Paris Agreement targets and the priority SDGs for the Group.

This model is a commitment to give back to society and integrates sustainability both in our business model and in our social responsibility framework.

It encompasses 3 programmes: Environment, Financial and Social Well-Being and Responsible Banking, defined on the basis of the material issues identified by the Bank's stakeholders, with concrete goals for 2024 and different initiatives for their achievement, allowing the monitoring of the Bank's ESG performance.

Environment

+€600mn of green investment (vs 2021)

€0 mn of financing to excluded sectors

30% of investment products with ESG characteristics

-30% of Paper consumption

-28% of CO₂ emissions from own operations (tonnes vs 2020)
Social & financial well-being

40% of employees benefiting from the social well-being programme

+3pp of employees with "healthy"psychosocial risk assessment

+8pp in employee engagement level (vs2021)

+11.8 points in clients NPS indicator (vs 2021)

+9594 hours of employees' voluntary service
Responsible banking

+2.5pp of women in senior leadership positions

-0.9pp in gender pay gap

+3 partnerships with organisations to promote employment of people with disabilities

90% of suppliers with sustainability score

+39160 ESG training hours for employees

Click on the entry below to read our quarterly report (Portuguese only)

Download the report

Our Policies and Guiding Principles

Novobanco believe it is essential to conduct its activity with the firm purpose of having a positive contribution to the entire ecosystem within which it operates.

This course of action requires a robust governance model, sustained by policies and principles of ethics and transparency that ensure effective and prudent management.