Sustainability
Through its strategic role in the economy, the banking sector is driving forward and leading the transformation and sustainable development of companies and individuals. It is actively working to align itself with trends related to sustainability and social responsibility in its investment and advisory decisions.
Accordingly, Andorran banks are committed to promoting valuable incentives to respond to future challenges through a dual approach:
- Helping companies and the general public transition to reducing their CO2 footprint through new bank financing.
- Redirecting capital to projects in line with the Paris Agreement and offering sustainable alternatives for their customers’ financial decisions.
Andorran banks are thus active participants in the transformation and sustainable progress of businesses and companies in the country. They are making an effective contribution to achieving the objectives set by the Government through the National Strategy for Energy and Combating Climate Change, which is the instrument that plans, coordinates and streamlines the actions, measures and projects to combat climate change. These objectives are as follows:
- Medium-term objective (2030): Cut unabsorbed emissions by 37%.
- Long-term objective (2050): Carbon neutrality.
In the current context of the fight against climate change and the transition to sustainability, this strategy’s main goal is to achieve a balance between greenhouse gas (GHG) emissions and absorption, including additional offsetting measures that make it possible to achieve the national and international targets by 2050.
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