Sustainable Fitch kept the corporate ESG rating of Grupo Crédito Agrícola (GCA) at ‘2’, on a scale of 1 (best) to 5 (worst), and revised the overall score to 65 points, compared with 64 previously attributed. “This assessment reflects the progress achieved by the Group in sustainability reporting, in operational practices, in sector exclusion policies, and in the growth of sustainable financing and investment activities, evidencing the increasing integration of ESG principles into its activity and business model,” the bank said in a press release.
According to the same source, the evaluation also recognizes the differentiating characteristics of Crédito Agrícola’s cooperative banking model, based on a close relationship with families, SMEs, and the territories where it operates. This model contributes to financial inclusion, supports local economic development, and reinforces the Group’s commitment to issues such as human rights, working conditions, and engagement with communities. In addition to these factors, Sustainable Fitch also highlights the progress achieved by the Group in the social, environmental and governance pillars.
In the social dimension, Sustainable Fitch values the historical proximity of Crédito Agrícola to communities and its financial inclusion initiatives. The assessment recognizes that Grupo Crédito Agrícola is present in 95% of Portugal’s low-density municipalities and maintains 257 branches in localities where there is no other credit institution, accounting for 41.7% of its commercial network of 615 branches. This positioning “reinforces the Group’s role in promoting financial inclusion and territorial cohesion.” The assessment also recognizes gender balance in the organization, with women making up 52% of the Group’s total employees.
In the environmental dimension, the rating highlights GCA’s commitment to the transition to a net-zero emissions economy, reflected in the Sustainability Strategy 2026-2028 and in the 2030 targets to reduce operational and financed emissions in eight sectors with high carbon intensity. The assessment also highlights the comprehensive disclosure of greenhouse gas (GHG) emissions and resource consumption, as well as the commitment to achieving carbon neutrality in Scopes 1 and 2 and to reducing Scope 3 operational emissions by 33% by 2030.
At the governance level, GCA maintains a two-tier structure, comprised of an Executive Board of Directors and a General and Supervisory Board, which together exhibit a female representation of 37.5% and a level of independence of 55%.
The Grupo Crédito Agrícola is the sixth-largest Portuguese banking group in terms of net assets and operates as a cooperative credit institution serving the national economy, with a special focus on agriculture and rural territories. Through the Central Caixa and its 67 associated Caixas Agrícolas, it provides banking, insurance and asset management services to about 1.6 million customers, including individuals, SMEs and agents in the agricultural sector.
Sustainable Fitch is a specialized entity in the assessment of environmental, social and governance (ESG) performance of companies, structures and financial instruments, supporting investors and other market participants in making more informed decisions. ESG ratings are assigned on a scale of 1 to 5, with 1 being the most favorable rating.
