Cajamar takes a step in its commitment to sustainability and joins the United Nations Net Zero Banking Alliance

Within the framework of the UNEP FI financial initiative

Grupo Cajamar assumes the goal of reaching zero net greenhouse gas emissions in 2050 as a consequence of its activity.

Cooperative Group Cajamar takes another step in its commitment to sustainability and has adhered to Net Zero Banking Alliance (NZBA) Within the framework of United Nations Environment Program Finance Initiative (UNEP FI), of which he is a founding signatory.

This initiative is incorporated into the cooperative banking model led by Cajamar and its vocation to support people, companies and local productive systems, and which is supported by its sustainability policy, based on its social, environmental and corporate governance commitment. .

In accordance with this international agreement, Grupo Cajamar assumes the goal of reaching zero net greenhouse gas emissions by 2050 As a result of its activity, it will align its loan and investment portfolios to achieve this goal, and will accompany its partners and clients with its products and services throughout the transition process towards a low-carbon economy.

The president of the Cooperative Social Credit Bank-Grupo Cajamar, Luis Rodríguez, highlighted the adhesion of the cooperative group to this alliance: “We are aware that financial entities play a fundamental role with our support for the transition of companies and families to achieve climate neutrality"And for this to happen, it is necessary that all stakeholders—governments, regulators, financial institutions, businesses, and civil society—work in the same direction."

Towards decarbonization

The main objectives of the Grupo Cooperativo Cajamar Sustainable Finance Master Plan are to consolidate and reinforce its culture around sustainability, respond to the demands of regulatory bodies, contribute to establishing the decarbonization roadmap to reduce CO2 emissions, reaching net zero emissions before 2050, and accompanying its partners and clients throughout the fair ecological transition process.

In its commitment to promoting sustainable finance and the fight against climate change, Grupo Cooperative Cajamar adheres to the United Nations Global Compact and is part of different international organizations in the field of sustainability. He is a member of the  UNEP FI, founding signatory of the Responsible Banking Principles; reports its carbon footprint to the Carbon Disclosure Project (CDP); supports and follows the recommendations of the Task Force Climate Financial Disclosure (TCFD) on Sustainable Finance; and has joined the Science Based Targets initiative, taking responsibility for establishing Net Zero emissions reduction targets.

Cajamar Cooperative Group offsets 100% of its emissions, identified and calculated in its Eco-efficiency Plan, through the 'Conservation of the Amazon in Madre de Dios Peru' project, thus contributing to reducing reforestation in the area and, consequently, to sustainable forest management that generates benefits for local communities. Additionally, it is reducing energy consumption in its facilities and achieving greater energy efficiency by betting on the use of renewable energy in its headquarters and offices.