Caja Navarra: 700 indicators in order to become the most transparent organization within the field of CSR
Caja Navarra has published information regarding its efforts in over 700 economic, social and environmental indicators, which marks a milestone regarding Corporate Social Responsibility (CSR).
The publication of this information falls within the framework of its 2009 CSR Report. In said publication, comprehensive and specific data are provided regarding the company’s performance in all the fields of its activities over the past year. This publication received the highest mark (A+) the GRI (Global Reporting Initiative) and other leading international organizations award in the promotion of entrepreneurial transparency and accountability.
In regard to the content of this report, achievements attained in the field of sustainability in the last fiscal year must be underscored. Concerning the environment, for business operations, an ‘environmental rating’ has been established by which social and environmental criteria are introduced in order to rate business risk. Moreover, CAN has neutralized the entire amount of its CO2 emissions by planting over 26,700 trees through reforestation projects carried out teaming with several municipalities in the Navarre region. Additionally, it has greatly improved its eco-efficiency by reducing, for instance, the consumption of paper by 16.2% or its global consumption of electricity by 3.85%.
In so far as social matters are concerned, it is worth noting the high level of customer participation in the company’s strategy (93.6% choose social projects to which part of profits CAN gained through them were earmarked), staff employment stability and security (99% of open-end contracts), gender diversity (47% women, 53% men) and the presence of women in high-ranking executive positions (31%).
In the field of economics, it is noteworthy to point out CAN’s solvency (9.03 core capital at the closing of the fiscal year) and it asset quality (3.27% delinquency rate as of December 31, 2009).
Demanding Auditing Process
CAN’s 2009 CSR Report underwent a demanding auditing process performed by Ernst & Young in accordance with ISAE 3000 standards. They also certified that they also comply with the GRI A+ level and AA1000 standards at the ‘high assurance’ level. The information published on sustainability is comprised of three complementary documents which, on an individual basis, have been verified:
- The 2009 Social Responsibility Report in GRI format, prepared according the most demanding international standard – the GRI G3 Guidelines – at its highest level, ‘A+ GRI Checked’ and the Financial Sector Services Supplement.
- The 2009 CSR Key Indicators Scoreboard (CCI-RSC, in Spanish) developed by the Spanish Association of Accounting and Business Administration-AECA, a pioneering initiative regarding the automatic comparability of business information, and Caja Navarra is the first company in the world to execute this.
- The 2009 CSR-XBRL Report. For the second year in a row, Caja Navarra has published its report in this format, developed by the AECA, which is a digital language to represent business information, prepare reports and, then, provide users with the possibility to make comparisons, ratings and their own reports.