Spanish banks are lagging behind in the actual implementation of ESG criteria

Although banks have made important strides in ESG criteria, they still face key challenges in transparency and real impacts.

Spanish banks have made gradual and significant progress in incorporating environmental, social and governance (ESG) criteria into their strategies and operations. However, according to the recent report “Perspectives on Responsible Banking. Spain 2025”, published by the International Chair in Sustainable Finance at UPF Barcelona School of Management (UPF-BSM) and Triodos Bank, banks still have a long way to go in terms of real and practical implementations. The study analyses 2023 data from 11 Spanish banks that are signatories to the UN Principles for Responsible Banking. Although the sector has significantly improved in transparency and information quality thanks to the new regulations, the results reflect that the effective application of these criteria is still in an early stage, especially with regard to interaction with customers and users. The most urgent need identified is for banks to improve in areas such as helping customers reduce negative impacts and increase positive ones, as well as developing appropriate incentives that promote more sustainable financial decisions.

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