Policy of Unicaja Banco, S.A. and Grupo Unicaja

The "Sustainability Risk Integration Policy in the Decision-Making Process and when Providing Advice on Grupo Unicaja's Investment or Insurance Products" was approved by the Board of Directors at its meeting held on 25 February 2021.

Link to Sustainability Risk Integration Policy in the Decision-Making Process

Unimediación, S.L. (a Banking-Insurance Operator) endorsed this Policy through a resolution adopted by its Board of Directors on 23 February 2021, while Unigest, S.A. (a Collective Investment Undertaking Management Company) formally approved its endorsement of said policy by means of a resolution adopted by its Board of Directors on 25 February 2021. Unicorp Patrimonio, S.A.U. (a Securities Company) and Unión del Duero, S.A. (a Life Insurance Company) endorsed the Group's policy through resolutions respectively adopted by their Boards of Directors on 24 March 2021 and 26 March 2021.

Unimediación, S.L.; Unigest, S.A.; Unicorp Patrimonio, S.A.U.; and Unión del Duero, S.A. form part of Grupo Unicaja.

Content originally added to the corporate website on 10 March 2021. This section was changed on 26 April 2021 to report Unicorp Patrimonio, S.A.U.'s endorsement of Grupo Unicaja's "Sustainability Risk Integration Policy". This section was changed on 3 June 2021 to report Unión del Duero, S.A.'s endorsement of Grupo Unicaja's "Sustainability Risk Integration Policy". On January 18, 2023, the section was modified to include the new version of the "Sustainability Risk Integration Policy" of Unicorp Vida, Compañía de Seguros y Reaseguros, S.A. On May 24, 2023, the section was modified to remove references to Unicorp Vida, Compañía de Seguros y Reaseguros, S.A., having been incorporated into its new website.

Content updated on February 16, 2024.

Adverse impacts are taken into account in investment decisions advice is provided in keeping with the principle of proportionality according to the size of Unicaja, the business model, its internal organisation, the nature and scale of its activity, the products it distributes, the services it offers and the profile of the majority of its customer base.

For such purpose, investments are channelled to companies that minimise sustainability risks after conducting studies that combine an analysis of the company's ESG factors and its economic and financial aspects or of the assets in which it invests according to generally accepted parameters adapted to an internal methodology, which expressly take into consideration the likelihood of adverse impacts taking place in this area.

As set forth by Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector, adverse impacts should be construed to mean any impacts resulting from investment advice and decisions which have negative effects on sustainability factors.

All the related information is disclosed periodically through at least the Consolidated Non-Financial Reporting Statement (NFRS), which may be accessed on the corporate website ("Sustainability and CSR" section > "Social Responsibility Reports" section).

Social Responsibility Reports - Consolidated Non-Financial Reporting Statements

Notwithstanding the above, transparency on adverse sustainability impacts may be materialised through due diligence policies on said adverse impacts in accordance with the development of technical standards by the relevant European Union.

Adverse impacts are taken into account in investment and insurance advice is provided in keeping with the principle of proportionality according to the size of Unicaja, the business model, its internal organisation, the nature and scale of its activity, the products it distributes, the services it offers and the profile of the majority of its customer base.

For such purpose, investments are channelled to companies that minimise sustainability risks after conducting studies that combine an analysis of the company's ESG factors and its economic and financial aspects or of the assets in which it invests according to generally accepted parameters adapted to an internal methodology, which expressly take into consideration the likelihood of adverse impacts taking place in this area.

As set forth by Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector, adverse impacts should be construed to mean any impacts resulting from investment advice and decisions which have negative effects on sustainability factors.

All the related information is disclosed periodically through at least the Consolidated Non-Financial Reporting Statement (NFRS), which may be accessed on the corporate website ("Sustainability and CSR" section > "Social Responsibility Reports" section).

Social Responsibility Reports - Consolidated Non-Financial Reporting Statements

Notwithstanding the above, transparency on adverse sustainability impacts may be materialised through due diligence policies on said adverse impacts in accordance with the development of technical standards by the relevant European Union regulators.

Unicaja Banco, S.A.

Unicaja takes into consideration Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector — along with other regulatory provisions that may have an impact on the inclusion of environmental, social and governance (ESG) factors in the remuneration scheme — in its overall incentives scheme, which is pending further specification and development as regards this point. Variable remuneration criteria that meet said Regulation's requirements will ensure there is an incentives structure in place that is in line with the institution's risk propensity and business objectives concerning sustainability risks, the adoption of measures to prevent conflicts of interests and the fostering of actions having a positive impact on the area of ESG factors. This framework for action will also be included in the "Remuneration Policy Associated to Risk Management".

Unicaja Banco, S.A. (extract)

Pursuant to the regulations in force and taking into consideration their constant evolution, Grupo Unicaja is equipped with procedures to ensure sustainability risks and factors (environmental, social and governance, or ESG, risks and factors) are properly integrated into the decision-making process and when investment and insurance product advice is provided. The specific aim of this is to identify and manage any ESG risks which may have a potential impact on the analyses conducted by investors and other stakeholders and on the decisions taken by them.

Grupo Unicaja constantly develops suitable mechanisms to monitor the integration of sustainability risks and factors into the selection of the products and services it offers, the aim of which is to ensure that it always acts in the customer's best interest. In the area of discretionary portfolio management and providing investment advice on investment products, Unicaja has developed a Corporate Sustainability Risk Integration Policy for the decision-making process and when advice is provided on investment products. This Policy sets out in detail how sustainability factors and risks are to be assessed and how these could affect the return of your investments by identifying such risks, ranging from the categorisation of investment products according to sustainable criteria to the subscription of products using sustainability criteria in the process of providing advice and portfolio management when the customer subscribes a product.

Grupo Unicaja manages sustainability factors within the scope of the business and any related risks according to a line of action based on proportionality, which is defined on the basis of the nature of the Group's core activity and the relevance that the assets and services assessed may jointly have.

In accordance with this principle of proportionality, Grupo Unicaja takes into account adverse impacts on investment decisions, portfolio management and the investment advice it provides on investment or insurance products. As provided by Regulation (EU) 2019/2088, adverse impacts are to be construed as any investment advice or decision-making impacts that have negative effects on sustainability factors, including environmental, social and corporate governance aspects. Unicaja has issued a Statement of Principal Adverse Impacts of Investment Decisions on Sustainability Factors as a market participant and a Statement of Principal Adverse Impacts of Investment Advice on Sustainability Factors.

All the related information is disclosed periodically as it is generated through the Consolidated Non-Financial Reporting Statement (NFRS), which may be accessed on the corporate website ("Sustainability and CSR" heading > "Social Responsibility Reports" section).