SANTO DOMINGO.– Grupo Popular presented its Sustainability Report for the year 2022, prepared following the GRI (Global Reporting Initiative) standard and in response to its commitment to the UNEP-FI Principles for Responsible Banking, signed by Banco Popular in 2019, along with more than 250 financial institutions worldwide.
The report details the social, environmental, and economic impact activities implemented by its main subsidiary, Banco Popular Dominicano, and the group of subsidiaries of its parent company, Grupo Popular. It aligns with the ten principles established by the United Nations Global Compact and the Sustainable Development Goals (SDGs).
In the interest of transparency, this is the first sustainability report presented by the entity to be verified by the independent professional services firm KPMG, ensuring that the reported information meets rigorous standards of traceability and accountability to its stakeholders.
The report establishes the Sustainability and Responsible Banking Guidelines, which aim to provide a framework for addressing the region's main challenges in responsible banking.
Regarding the objectives achieved
In its commitment to sustainability, Grupo Popular continues working to achieve short-, medium-, and long-term goals in environmental, social, and governance (ESG) matters to efficiently address current challenges by adopting innovative measures, demonstrating strong management capabilities, corporate social responsibility, a more highly trained workforce, and high-quality products and services.
In this regard, Mr. Manuel E. Jiménez F., CEO of Grupo Popular, explained how these efforts have allowed the financial organization to demonstrate its “commitment to society, the environment, and the improvement of our internal governance, promoting the inclusion of people in the financial system and improving the quality of life of the population by fostering knowledge, skills, and capabilities for resource management.”
Environment, society, and good governance
Regarding the environment, several initiatives were undertaken to mitigate environmental impact. During 2022, volunteers from the institution planted 36,810 trees, equivalent to a reduction of 11,779 tons of CO2, bringing them ahead of their goal of planting one million trees by 2030. In addition, an installed capacity of 7.5 MW of photovoltaic energy was achieved.
In this regard, Banco Popular continued to strengthen its green finance portfolio, "Hazte Eco" (Go Green), with the "Extraeco Popular" and "Extrahogar Eco Popular" products, designed for both the purchase of energy-efficient and sustainable mobility equipment and for renovations using eco-friendly materials. It also launched "HipotEco," a loan for purchasing homes that meet sustainability criteria.
In terms of governance, significant progress was made, including effective systems to prevent fraud, bribery, corruption, money laundering, terrorist financing, and the proliferation of weapons of mass destruction. These measures ensure the transparency and operational sustainability of all Grupo Popular companies, preventing violations that could affect business continuity.
To reinforce its social impact, Grupo Popular provided financial training to more than 10,000 people and registered 4,104 users in the Finance with Purpose Academy. In addition, 151 banking sub-agents joined the Popular Sub-Agent network, which promotes financial inclusion, bringing the total number of affiliated banking sub-agents nationwide to 1,561 by the end of the year.
Through Fundación Popular, the corporate foundation responsible for the social agenda of Grupo Popular and its subsidiaries, we continued to respond to environmental and social challenges, such as expanding projects to reduce maternal and infant mortality, conducting sustainability training activities, strengthening community organizations, and building micro-hydroelectric plants and aqueducts for the self-sufficiency of rural communities in the interior of the country.
