Environmental sustainability, social inclusion and good governance practices are unavoidable topics nowadays. Despite the increased focus on the environmental component, social and governance pillars are also relevant to central banks, both by virtue of their mission and from a “leading by example” perspective.
Over the past three years, Banco de Portugal has been working more intensely in the areas of environmental sustainability and sustainable finance. In the area of social responsibility, Banco de Portugal has continued to support socially responsible causes and to promote economic and financial literacy. The Bank has also improved its governance model to meet the demands arising from new tasks assigned and from digital transformation.
Regarding cash, in general, and coins in particular, some of the initiatives to reduce the environmental footprint were implemented even before concerns about enhancing social responsibility and sustainability have been declared by the Bank as a strategic priority. Optimization of the coin cycle, recycling and renewable energies are the major fields of intervention of the cash department from the environmental point of view.
Acknowledging that those initiatives are only small steps towards a more sustainable world, our commitment is to be aware, to cooperate and to act to build a better and more responsible future.