BAC continues to consolidate its commitment to the environment through its ‘BAC Net Positive’ strategy, which seeks to create impact in the economic, social and environmental sectors with triple-value financial solutions.
BAC works under its mission to redefine banking to generate prosperity in the communities it serves, recognizing the environmental and social challenges society faces and realizing that no sector can face them alone. each has an important role to play.
With the same dedication it applies to maximizing economic value, it also focuses on maximizing social and environmental value and sharing it with all its stakeholders. Therefore, in the environmental dimension of its strategy, it seeks to become a carbon, waste and water bank, transforming its portfolio so that it is clearly positive and promotes the circular economy and sustainable mobility.
Within this framework, the bank has developed various innovative products and services that help reduce environmental impact and promote more friendly practices with El Salvador.
Reducing the environmental footprint.
In 2022, it measured its environmental footprint for the first time, which includes its carbon footprint, water footprint, and waste and material footprint. In 2023, they began implementing data quality improvement programs to move from estimates to real data, they installed water meters in agencies, installed recycling mines and a waste weighing system. In addition, they embarked on footprint reduction projects such as changing traditional faucets to sensors to save water, installing solar panels, constructing a LEED-certified building, and digitizing the use of paper in their operations.
The sum of these efforts resulted in a 36% reduction in our footprint.
Promotion of sustainable mobility.
BAC, aware of the transport environment, launched the “BAC Hybrid Auto” loan, which offers special financing conditions for the purchase of hybrid vehicles, with the aim of encouraging the use of more efficient vehicles and reducing greenhouse gas emissions. To date, 60% of the hybrid vehicles sold in the country have been financed by BAC, making the bank a key player in the transition to more sustainable mobility. Also, the organization is making available its BAC Electrical Route, a network of electric vehicle chargers, a flagship project starting in 2022 that connects Guatemala to Panama in its main agencies.
In the case of Salvador, it has four charging stations located in its agencies: Zona Rosa, 25 Avenida Norte, Santa Ana and San Miguel, positioning itself as a key ally in the transition to more environmentally friendly mobility. It currently has more than 30 chargers across the region.
Support for environmentally friendly programs.
Its “Positive Green Loan” finances companies developing environmentally oriented projects such as energy efficiency initiatives, water and sanitation management, sustainable construction and transport, and projects that promote the circular economy. In this way, the bank contributes to the promotion of more environmentally responsible production practices in the country’s business sector and SMEs.
Sustainable and digital banking.
In 2023, it released its first BIO card, changing the material of its current cards (plastic) to environmentally friendly material (PLA). The goal is to reduce the use of plastic and turn it into a natural material that can be composted and thus create more environmental value. In addition, it aims to be the first in the world to compost its cards once they reach their useful life cycle, through alliances with entrepreneurs to promote a circular economy in the region and ensure that the cards return to nature.
On the other hand, thanks to the introduction of digital vouchers, it managed to reduce the issuance of physical vouchers by more than 1 million between March and May. This initiative helps reduce paper usage and promotes more sustainable practices.
The bank offers its customers to make their payments and transactions through digital wallets such as Apple Pay, Garmin, Fitbit and NPC. This allows us to reduce the use of cash and physical cards, which in turn helps reduce our environmental impact.
Formation of environmental awareness.
As part of its permanent Yo Me Uno program, in 2023 it has carried out the third edition of Yo Me Uno Talks, called “Voces con Eco”. Through this initiative, it sought to promote the work carried out by the 7 nature care and generation foundations. Supporting Salvadorans to continue positive change in the environment. During the five weeks of the competition, participating foundations were able to share their work, reaching a milestone of more than 1.3 million views and increasing average donations more than 28 times, surpassing the previous edition.
“At BAC, we are committed to transforming the banking system into a model that not only strives for economic success, but also has a positive impact on society and the environment. “We are taking significant steps to become a Neto Positivo bank and thus promote a more stable and prosperous Central America for all.”
Marta Bolaños, Director of Marketing and Sustainability.
BAC’s path is clear, it will continue to implement more impactful projects through 2024 and 2025 to further reduce its footprint. Followed by 2026 and 2027 with compensation drafts; Then in 2028 and 2029, it will implement super-compensation plans to achieve its ambitious goal and commitment to be a net positive bank by 2030.
With its “BAC Net Positive” strategy, it not only benefits the environment, but also has a positive impact on the communities it serves. The bank supports various social and environmental projects and contributes to people’s well-being through its products and services, positioning itself as a leading institution in terms of sustainability in El Salvador and the region.
BAC has signed important initiatives that contribute to the alignment of business strategies with the UN Sustainable Development Goals, the Paris Agreement and the goal of “zero greenhouse gas emissions” by 2050. In this regard, it has set three environmental goals. to be carbon, water and waste positive by 2030, to transform its portfolio to net positive by 2050 and to promote a circular economy and sustainable mobility in the region.
