CaixaBank has offset its CO2 emissions by supporting a project to protect the Amazon forest.

The project is located in the Rio Capim Complex, in eastern Amazonia, in an area that spans five forests: Río Capim, Poty, Cauaxi, Sumal and Caculé. The project spans across 27,434.9 hectares of forest, which will avoid deforestation due to the project, the bank says.

Since 2009, the bank led by chairman Jordi Gual and with Gonzalo Gortázar as CEO has reduced its own CO2 emissions by 80% and it has set itself a future target of attaining a further reduction of 14.5%, under its 2019-2021 Environmental Plan. CaixaBank is the only listed Spanish bank to offset all greenhouse gas emissions generated and calculated as part of its carbon footprint, making it a “Carbon Neutral” bank.