Sustainable finance goals challenge the financial sector to allocate private funds to more sustainable investments, which entails a profound change in the financial system’s modus operandi.
This evolution is necessary in order for society to undertake a more sustainable economic growth, underpinning the stability of the financial system, as it mitigates risk, reduces costs, internalizes environmental costs and fosters an efficient resource management.
Throughout 2019, CGD took on countless sustainable finance commitments guiding the future investment strategy for the Bank’s transition to a low-carbon economy.
Lines of action:
1. Developing financial products to support companies in their transition to a circular economy.
As part of this line of action, we highlight the Credit Facility for Decarbonisation and Circular Economy (Portuguese only), which aims to contribute to the targets set by the 2030 National Energy and Climate Plan and streamline the transition to a circular economy, thus contributing to the definition of new processes, products and business models.
2. Educating the civil society and the financial sector stakeholders.
As part of its awareness-raising mission, CGD has hosted a
conference on Sustainable Finance, gathering civil society representatives, regulators, academics and financial institutions, inviting the Minister of Environment and Climate Change.
The conference was held during the first week of November, at Foundation Caixa Geral de Depósitos, on the occasion of the social responsibility week and the international meeting of the UN Global Compact networks.
3. Promoting information on sustainable development challenges.
Within this scope, we highlight the training program carried out in partnership with strategic partners, notably IAPMEI and Pedra Base, on relevant subjects, namely the 2030 Agenda (Portuguese only), the challenges posed by sustainable development and those presented by circular economy (Portuguese only).