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Social Work of the CECA Sector: Rowing in Favor of Social, Cultural, and Economic Development

Social Work of the CECA Sector: Rowing in Favor of Social, Cultural, and Economic Development

The associated entities of CECA have allocated over 7.8 billion euros since 2014 to various programs aimed at achieving a fairer and more equitable society.

The role of the CECA sector (an association representing CaixaBank, Kutxabank, Cajasur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença, Cecabank, and more than thirty foundations) transcends the merely economic and financial aspects, playing an important role from a philanthropic perspective.

Its Social Work is vital as a catalyst for social, cultural, and economic development, focusing on vulnerable groups. So much so, that the Social Work of the entities associated with CECA is the first private social investor in Spain, a fact that validates its commitment to a fairer and more equitable society.

The Legal Framework Supporting the Social Work

Law 26/2013, of December 27, on Savings Banks and Banking Foundations, was a driver for a new phase in Social Work and foundations over a decade ago, contributing to assist millions of people with special needs and at risk of exclusion.

This new law brought with it a structural reform of savings banks, enabling their integration into larger and solvent groups. Thus, this legislative framework strengthened the continuity of Social Work as a hallmark of the integrated entities of CECA. Over these 10 years, Social Work has repeatedly addressed the needs of society as a priority. This principle is realized through programs aimed at promoting social welfare improvement, fostering equal opportunities and inclusion, mainly directed at the senior community, people at risk of social exclusion, and for the empty Spain.

Year after year, and action after action, Social Work has established itself as an essential tool for achieving a fairer and more inclusive society and continues to lead private social investment in Spain, being a notable complement to welfare policies.

The savings banks and more than thirty banking and ordinary foundations grouped in CECA are responsible for Social Work. And since the entry into force of Law 26/2023, its purpose remains unchanged: “to contribute to social progress by financing projects that create opportunities for progress for people, striving to do everything possible in favor of financial inclusion, as a prelude to social inclusion, and with a special sensitivity towards the most vulnerable groups.” This was stated by Isidro Fainé during the 117th General Assembly of CECA on April 9, where he was reelected as president of the association.

More than 7.8 billion euros allocated to Social Work

The Social Work of the CECA sector has proven to be an essential player as a lever for social, cultural, and economic progress. Evidence of this is the investment of 851 million euros in Social Work by the associated entities in 2023, an increase of 6.4% compared to the previous year. Thanks to this investment, more than 80,960 activities have been carried out, benefiting over 30 million people in 2023, with a special focus on vulnerable groups.

Since the approval of Law 26/2013, the Social Work of the entities in the CECA sector has invested over 7.8 billion euros and conducted more than 930,000 activities. In the previous year’s exercise, there was a 19.9% increase in investment compared to the year 2014. This increase in investment corroborates the future sustainability of this social model, supported in part by the reforms driven by the aforementioned law.

Moreover, this work has been possible thanks to the entities and human teams that have continued to professionalize and maintain their commitment to society over the years, demonstrating great adaptability and flexibility in their programs.

The Areas of Action of Social Work

Specifically, the Social Work of CECA encompasses six areas of action: Social Action, Education and Research, Culture and Heritage, Local Development and Job Creation, Sports and Leisure, and Environment.

The Social Action area seeks to improve the quality of life of individuals, especially those who are the most vulnerable or have special needs. It promotes social development seeking a fairer and more inclusive society through social and assistance programs, health, welfare, integration, social dining, and volunteering.

The Education and Research area fosters innovation with training, education, scientific research, and R&D programs. It also supports financial inclusion and promotes the dissemination of financial education, thereby facilitating economic growth and equal opportunities, adaptability, and flexibility in their programs.

Meanwhile, the Culture and Heritage area supports culture as a transformative element of society and a promoter of social cohesion, with special mention to heritage conservation projects.

Regarding the Local Development and Job Creation area, its mission is to contribute to the development and dynamization of its areas of action, facing challenges such as employment, training, entrepreneurship, support for rural areas, SMEs, freelancers, and local commerce, among others.

The Sports and Leisure area addresses each discipline as a tool for social inclusion, unity, and the dissemination of necessary values for society. Finally, the Environment area supports the commitment to sustainability.

The investment allocated to each area during 2023 is distributed as follows:

– Social Action: over 312 million euros, translated into more than 28,000 activities and with over 5.8 million beneficiaries. This is the segment that received the most investment during 2023.

– Education and Research: over 238 million euros, with more than 16,000 activities and 9 million beneficiaries.

– Culture and Heritage: over 179 million euros, with 21,000 activities and nearly 12 million beneficiaries, being the area that reaches the most people with the least investment.

– Local Development and Job Creation: over 79 million euros, with 5,000 activities and more than 800,000 beneficiaries.

– Sports and Leisure: 29 million euros in 2023, with more than 6,000 activities and one million beneficiaries.

– Environment: over 13 million, with 2,000 activities and more than one million beneficiaries.

Global Progress in Focus

It is worth noting that the Social Work places the 2030 Agenda at the center of its activity. In 2023, the investment has focused on the 17 Sustainable Development Goals and has joined efforts to help reinforce those whose issues required greater attention from Spain, such as health and well-being, industry, innovation and infrastructure, quality education, decent work and economic growth, sustainable cities and communities, and ending poverty.

Additionally, CECA is an active member of the World Savings and Retail Banking Institute (WSBI) and the European Savings and Retail Banking Group (ESBG), both international associations recognized for their profound sense of social responsibility and a business model that prioritizes financial inclusion and the development of Social Work initiatives. This underscores their commitment to a positive and sustainable change that helps individuals face the main global challenges of our time. WSBI’s investment amounts to 3.5 billion dollars annually allocated to social programs worldwide, representing tangible actions that promote global progress.

In this context, with the aim of addressing the financial inequality affecting women entrepreneurs globally and the resulting economic gap, the World Savings Institute and Retail Banking Institute – of which CECA is a part – sealed a new alliance in October 2023 with We-Fi, the Women Entrepreneurs Finance Initiative at the World Bank. This agreement represents a further step in WSBI’s commitment to improving the financial conditions of women entrepreneurs internationally, reinforcing the institution’s role as a key force in building a more inclusive and sustainable financial sector worldwide.

Overall, the role of the Social Work of CECA stands as a backbone for a society with more opportunities for progress for individuals, especially those in situations of social exclusion and inequality. In the future, the roadmap of the association will be to continue rowing in favor of this goal, making a difference and solidifying Social Work as a fundamental part of its mission.

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