Sustainability
With regard to the sustainability strategy and policy, Banco Carregosa is carrying out a number of activities, with positive externalities, which allow the Bank to contribute positively, and with a real impact, to various ESG areas (environmental, social and governance). Through its footprint, Banco Carregosa intends to actively promote the creation of a more sustainable world in the long term, in a way that is environmentally friendly, socially just, culturally diverse and economically viable.
Banco Carregosa’s sustainability strategy is developed based on two main guidelines.
On the one hand, by implementing the best sustainable finance practices in the products and services offered or marketed by the Bank, reflecting the new financial paradigm of redirecting financial flows towards sustainable investments, taking into account Environmental, Social and Governance factors. For investors, this means integrating ESG criteria into investment decisions, leading to long-term investments in sustainable activities. For companies, it means contributing to the integration of sustainable practices in order to achieve corporate sustainability.
On the other hand, and in line with its historical mission of giving back to society part of what it receives, Banco Carregosa invests in a series of initiatives and projects that have a positive impact on several areas of sustainability, in line with its business model and with the activities in which it operates. The Bank aims to be extremely careful in selecting projects of high social value and also to spread initiatives and support across the national territory.
Finally, Banco Carregosa is proud to be a member of the Business Council for Sustainable Development (BCSD). BCSD Portugal is a business association that brings together a group of forward-thinking companies, working together to accelerate the transition to a more sustainable world. As a result of this associative movement of several national and international reference companies for sustainability, Carregosa, in 2021, reinforced its alignment with the BCSD manifesto by continuously making an additional commitment in terms of its social responsibility strategy and policy. This commitment is even reflected in one of the pillars of its corporate values in favor of sustainability and promoting a positive impact for stakeholders, society and the environment.
For the benefit of society, Banco Carregosa has thus invested in seven main areas – financial literacy, humanitarian aid, education, arts, health, sport and economy.
FINANCIAL LITERACY
HUMANITARIAN AID
EDUCATION
ARTS
HEALTH
SPORTS
Economy
Regarding Financial Literacy, we highlight the already historical and award-winning "Jogo de Bolsa" (Stock Exchange Game), Banco Carregosa’s main project to promote financial literacy, jointly organised uninterruptedly since 2003 (now in its 20th edition) with Jornal de Negócios and ISCTE-IUL. This financial literacy project has already reached, educated and trained more than 40,000 investors in Portugal. This project aims at contributing decisively to the dissemination, development and boosting of capital markets in Portugal, through a wide network of potential investors who have not yet had the opportunity to use this investment solution. Given the role that this type of initiative plays in learning how financial markets operate, Banco Carregosa has continued the partnerships with several universities, organising "stock exchange games" aimed at higher education students so that they can come into contact with the trading and management of an investment portfolio on the GoBulling electronic trading platforms.
In addition, throughout 2023, Banco Carregosa continued to promote the Portuguese translation of Ray Dalio's book “The Changing World Order”, through the partnership that began in 2022 with the publishing house SELF. As we consider this to be an essential work on the world economy and geopolitics, and in order to promote financial literacy in Portugal, we decided to continue to make this knowledge available to our clients and partners in 2023, first hand and in an exclusive way.
With a strong academic and educational character in the areas of financial literacy, for higher education students and junior entrepreneurs – on topics related to Banco Carregosa's core business – the Bank has developed a wide range of training projects relevant to this target group. The following projects stand out:
- “EEG Business Day” at the School of Economics and Management (EEG) of the University of Minho, with the aim of bringing students closer to the business world;
- Support for an academic project on “Organizational Communication for Sustainability” at the Lusófona University, as part of a degree in Human Resource Management;
- Collaboration with the Universidade Portucalense, acting as a jury and speaker in various sessions in the course units of the Economics and Management degree;
- Keynote speaker at the XIV Corporate Finance Colloquium at ISCAP Porto;
- Support for seminars such as “Quality Investing” and “Different Investor Profiles” at the University of Porto;
- Banco was also a trainer and speaker at the Finance Club – Equity Research Challenge 23';
Finally, we would like to highlight our presence at the inaugural session of the Online Post-Graduation in Financial Markets at ISCTE – Executive Education, and our participation in the CMVM – Securities Market Commission event, World Investor Week – Saving for the Future, Investing with Innovation, under the high patronage of His Excellency, the President of the Republic of Portugal.
Regarding Humanitarian Aid, Banco Carregosa has been involved, over the last few decades, in a number of various social projects and activities, of which we highlight the most relevant sponsorships:
- Donation to the Portuguese Federation of Food Banks to provide significant financial support to the “Banco Alimentar contra a Fome” (Food Bank Against Hunger) to help the many disadvantaged families affected by rising food prices;
- Contribution to the Diocese of Porto to support the reception and activities of thousands of young people coming from all over the world to take part in the “Days of the Diocese” in Porto, and then headed to Lisbon for the World Youth Day in 2023;
- Support for the Bagos D'Ouro association, through financial support and the participation of Banco Carregosa employees in the “Solidarity Football Tournament: the ball is on your side!”, with all the individual and collective cash prizes obtained during this solidarity initiative being donated to the Bagos D'Ouro Association. Also noteworthy was the internal awareness campaign among employees to donate their personal income tax (IRS) to this charity, which fights for the social inclusion of disadvantaged children in the Douro region.
In addition, Banco Carregosa supported ANCAP – Associação Nacional de Combate à Pobreza (National Association for the Fight Against Poverty), APAC – Associação para Apoio à Cegueira (Association for the Support of the Blind), Associação Abrigo para a Vida (Shelter for Life Association), ARSCD - Associação Real Social Cultura e Desporto (Royal Social, Cultural and Sport Association), and the “Irmãzinhas dos Pobres” Nursing Home.
Under the Education support pillar, Banco Carregosa supports the “Youth Symphony Orchestra” by awarding scholarships, the main purpose of which is to support the training and professionalisation of musicians from the Youth Symphony Orchestra with high artistic potential. This project works in several areas, from education to social inclusion and also the commitment to culture.
The Bank also provided financial support to the Lusíada University of Porto to reward the student who obtained the best grade in the “1st cycle of studies in Law”. The Bank supported and played an active role in “FJC Porto de Emprego”, the largest job fair organised by students in Portugal, which was attended by more than 60 companies from various fields and thousands of university students. Banco Carregosa was present at “Speed Recruitment Porto”, organised by the Porto City Council, which aims to bring together companies and candidates looking for (new) professional opportunities, as well as to offer workshops on what is most valued by the job market.
In addition, the Bank has joined the “Inspiramos Juntas” mentoring program, an integrated mentoring project for law students who are at the end of their academic career and need to take the next step to enter the job market.
In the field of cultural patronage, the Bank has supported different artistic areas over the last decade through a wide variety of initiatives:
Music: Banco Carregosa is a founding member of the “Casa da Música” in Porto. The Bank has also been a patron since the first edition of the Porto Music Festival “In Spiritum”, which returned in 2021 to rediscover the historical heritage through music, combining a specific repertoire with the unique environment of each space, and offering new readings of the city of Porto; The Bank also supports the annual “Opera Gala” concert organised by the Youth Symphony Orchestra.
Finally, Banco Carregosa has also supported many other musical initiatives, in particular:
- The launch of the CDs of the maestro and pianist Contantin Sandu; "Live recording of themes by L. Van Beethoven" and the "Masterpieces of Portuguese and Romanian Music for Piano II"
- The launch of a double CD "Bomtempo" and the concert held in Palácio Freixo by pianist "Luísa Tender", the latter included in the Paços de Brandão International Festival, and also for the exclusive concert held for Banco Carregosa in Palácio da Bolsa;
- The production and concert which saw the launch of Teresa Salgueiros CD "O Horizonte" in Lisbon and Porto;
- Rão Kyao, for the Liturgical Recital project "Sopro de Vida" held in several cathedrals in Portugal;
- Concert in support of refugees at the "Gulbenkian Grand Auditorium" - Music for a Cause;
- Concert given by Kátia Guerreiro for the "League of Friends of Hospital"
- Classical music concerts at the Porto Trade Association, in the Salão Árabe: The cycles of concerts "Classical Music" and "Nights in the Salão Árabe"; the piano concerts by Filipe Pinto Ribeiro, and also the grand recital "Winterreise - Journey of Franz Schubert", interpreted by the outstanding baritone Wolfgang Holzmair and Philippe Cassard on the piano, a representative work of the Lied style
In 2023, Banco Carregosa granted its main financial sponsorship to support the Serralves Foundation, as part of its support for the arts, proudly joining the restricted group of institutions that are “Founders of Serralves”, one of the most prestigious cultural institutions in the city of Porto and in Portugal.
The Bank also established a sponsorship agreement with the Calouste Gulbenkian Foundation for the exhibition “Divine Wisdom: The Path of the Sufis” in the Islamic Art Gallery of the Calouste Gulbenkian Museum; the Bank was also the main patron of the exhibition “The Thalia Theatre and its founder, the Count of Farrobo”, a unique figure in the Portuguese cultural panorama of the 19th century. The exhibition was inaugurated on the Count's birthday, 11 December, and was exhibited throughout the first quarter of 2023.
It is also worth mentioning the continuation of the protocol signed with Santa Casa da Misericórdia do Porto for the exhibition of art works from the SCMP collection in the premises of Banco Carregosa.
Health-related areas: for the 7th year running, the Bank renewed its support to the “Banco Carregosa / Secção Regional do Norte da Ordem dos Médicos” award, which aims at distinguishing the best clinical research projects in Portugal and is one of the biggest opportunities for development in the area of health sciences and technologies in Portugal.
The Bank once again joined ENCONTRAR+SE, renewing it status as honorary member of this prestigious institution, whose corporate purpose is to provide support, training, intervention, assessment and research in the field of mental health and the psychosocial rehabilitation of people with mental disorders. The Bank also supported various solidarity initiatives, including those organised by the non-profit association “Mama Help”, which helps breast cancer patients and their families.
As part of its pillar of support for the community of health professionals and medical students, Banco Carregosa also provided various logistical support and sponsored congresses and initiatives in this field. Of particular note was the Bank's support, as patron, of the “18th YES Meeting”, organised by the Students' Association of the Faculty of Medicine of the University of Porto (AEFMUP).
The Bank sponsored a number of sports initiatives, covering different audiences and age groups. Support was granted to several events in the form of sponsorships and patronages, among which the following golf events: “Banco Carregosa Miramar Open”, “Royal Caribbean Match Play | Banco Carregosa", "Estela Bentley Golf Challenge | Banco Carregosa" and "Vidago Golf Challenge Porsche | Banco Carregosa". Banco Carregosa continued to sponsor the sports career of the promising Portuguese golf player João Maria Pontes and also entered into a new sponsoring partnership with the Miramar Golf Club, a reference institution with thousands of members and golfers with a high affinity to Carregosa's Private Banking and Top Affluent target.
The Bank renewed the support to the “Porto and Matosinhos Horse Riding Centre”, which engages about 400 riders in all age brackets (beginners, juveniles, juniors and seniors), in various disciplines such as obstacles, teaching, adapted riding and working horse-riding. Through this partnership, Banco Carregosa supported several competitions with the award of the "Grand Prix Banco Carregosa", the "Amazon Cup", the "Iberian Cup Guilherme Pinto Trophy"; the “Poule de Saltos de Obstáculos”; the "Horse-Jumping Portuguese Championship"; the Matosinhos Youth Cup" and also the Christmas Gala "Prof. João Mota Trophy".
In motor sports, Carregosa sponsors several rally competition teams. In the discipline of sport shooting, the Bank renewed the partnership with the “Porto Hunters Club” lending its name to the shooting field in Porto, Gondomar.
In 2023, the Bank also established a close partnership with CDUP Rugby, one of the oldest and most prestigious rugby institutions for the development and promotion of the sport in Portugal, which has more than 220 athletes registered with the Portuguese Rugby Federation, including several international athletes at various levels.
In order to support the economy and, in particular, the Portuguese business community, Banco Carregosa has joined the “Commitment to Timely Payment” movement. The “Pagamento Pontual” initiative is a project promoted by IAPMEI, ACEGE, APIFARMA, CGD, CIP, Informa D&B Portugal and the Association of Chartered Accountants.
Finally, Banco Carregosa is very proud to have been distinguished with the “Equal Pay Seal” 2023 by the Commission for Equality in Labor and Employment – CITE, for its good practices in promoting Equal Pay for Women and Men for equal work or work of equal value.
See the Sustainability Policy for Investment Consultancy and Asset Management and find out how the Bank considers the main sustainability factors in its activity.