Corporate Sustainability Policy
The Banco de España’s commitment to the environment is set out in its Corporate Sustainability Policy 
(96 KB). This commitment is incorporated into the Strategic Plan (990 KB) through a series of initiatives related to promoting sustainability and social responsibility.
Environmental management system
The Banco de España is setting in place an environmental management system under ISO 14001.
ISO 14001 contains a series of requirements, including: (i) assessing legal compliance, and (ii) drawing up procedures.
By implementing an environmental management system, the Banco de España seeks to:
- Minimise the adverse environmental impacts (waste, energy consumption, emissions) of its activities, thereby helping to protect the environment.
- Assess the legal requirements on an ongoing basis and lessen the possibility of compliance failures.
Carbon footprint
In keeping with its Corporate Sustainability Policy (96 KB) (96 KB), the Banco de España calculates its carbon footprint, to identify and quantify the greenhouse gas emissions resulting from its activities. Over the course of 2023, it calculated the direct emissions from its facilities and the indirect emissions stemming from the electricity consumed at its sites and from staff commutes and business travel.
Environmental footprint of banknotes
The European Central Bank has conducted a project to calculate the environmental impact of euro banknotes, based on the Product Environmental Footprint (PEF) methodology developed by the European Commission.
The aims of the PEF study were to: (i) achieve a comprehensive knowledge of the potential environmental impact of all the activities of a full cash cycle of banknotes, and (ii) measure the potential environmental impact of banknotes as a payment instrument, to help further identify aspects in the banknote life cycle that can be targeted to reduce the environmental footprint of euro banknotes.
The Banco de España, along with the Deutsche Bundesbank, led the data collection phase and the participation in the working group set up for this purpose. The study results can be found here.
Environmental inspections
Aware of the importance of meeting the legislative requirements in this area, each year the Banco de España conducts a comprehensive programme of environmental inspections – including industrial safety and energy efficiency – at all of its sites, to ensure compliance with prevailing legislation.
Waste management
Following an analysis of the environmental impacts of its activities, the Banco de España has established an internal procedure and instructions to ensure efficient waste management. It has also pledged not to send shredded banknote waste to landfills (“Cero vertedero” commitment), and fosters research and development projects to promote circularity.
Packaging and packaging waste
The Banco de España has a procedure in place to ensure that the cash management activities it conducts within the scope of its mandate comply with the applicable regulations to prevent and reduce the environmental impact of packaging and packaging waste.
Training and awareness
The Banco de España regularly runs a programme to raise environmental awareness, as well as technical courses on environmental sustainability.
Research collaboration projects
Euro-denominated cash and specifically euro banknotes have the latest security features incorporated. Any change to these features also requires an analysis of the impact on the environmental footprint of banknotes.
Accordingly, mindful of the importance of fomenting research and development activities both by Spanish institutions and firms, the Banco de España promotes numerous contacts and/or collaboration agreements with firms and institutions for matters within its remit.