At BME, sustainability is a strategic pillar. Our commitment manifests itself along two trajectories, both as a company and as an infrastructure for financial markets, working to make them a driver of change towards an economy that is more resilient, efficient, and in tune with global challenges.
Our Purpose
Sustainability Strategy
Our strategy is based on four fundamental pillars:
Supporting the disclosure of information by issuers: SIX contributes to the harmonization of sustainability disclosure standards through cooperation with standards bodies.
Increasing transparency for investors: SIX increases sustainability transparency for financial products and issuers.
Helping navigate ESG complexity: SIX navigates the changing sustainability landscape, provides ESG and regulatory data as well as content services, and addresses clients’ ESG challenges, thanks to a dedicated and comprehensive product range.
Creating software tools, platforms, and systems (SaaS): SIX creates benchmarks and solutions that enable clients to identify, measure, and report on their sustainability metrics, targets, and trajectories.
Enabling the transition to net-zero: SIX aims to achieve net-zero by 2050 and has set near-term targets in 2024. Throughout all its spheres of influence, SIX actively supports the transition to a low-carbon, economy that is resilient to climate change.
Continuing to be a reliable partner: SIX guarantees credibility and transparency, in line with ESG standards and regulations.
Contributing to financial education: SIX promotes financial education and literacy, thereby contributing to a stable economy.
Attracting and retaining talent: SIX maintains a sustainable talent pool at all levels of the organization, hires the most qualified professionals from the external market, and promotes people from the internal talent pool.
Promoting diversity and inclusion: SIX promotes a diverse and inclusive culture that values different outlooks and fosters cooperation throughout the Group.
Investing in continuous development: SIX promotes a culture of lifelong learning and offers its teams a wide range of development opportunities.
Creating an environment of well-being: SIX offers a healthy, productive, and useful work environment based on trust.
As the infrastructure of the Spanish financial markets, BME provides a solid and transparent financing ecosystem that contributes to the prosperity of the economy and the welfare of society.
Juan Flames, BME Chief Executive Officer
Sustainability Report
In the Consolidated Non-Financial Information Statement of BME for each year, we set out our commitment to transparency and responsible business conduct. In addition, we highlight the year’s main sustainability milestones.
BME Stakeholders
As a key financial market infrastructure, at BME we engage in ongoing dialog with our stakeholders to foster the development of dynamic, solid, and innovative markets.
We have identified five priority groups, which are organized according to their impact and relationship with our activity:
Regulators and supervisors: these bodies ensure regulatory compliance and market stability.
Users of our services: companies, investors, and intermediaries operating in our markets.
BME employees: the key to innovation and the development of our business.
Service providers: these entities facilitate our operations and contribute to market efficiency.
Society in general: the ultimate beneficiary of sound and sustainable financial markets.
For each of these groups, we maintain active communication channels thereby enabling us to take note of their expectations, respond to their needs, and strengthen our commitment to the development of sustainable and competitive financial markets.
Dual Materiality Analysis
As a result of the integration between BME and SIX, it was decided in 2022 to carry out an exercise to make the relevant sustainability-related issues consistent throughout the group.
Given the unique characteristics of both companies, these matters have been prioritized in a particular manner, and it was decided to update the materiality matrix, which involved changes to a number of issues. For example, “Cybersecurity, digitalization, and information privacy” has been split up into the topics “Data protection and cybersecurity” and “Digitalization and innovation.” In turn, “Dissemination of financial knowledge” has become part of “Contribution to society.”
New issues such as “Contribution to economic stability,” “Sustainable product development,” “Participation in ESG discussions and networking,” and “Reporting recommendations” have also been identified.
Science-Based Targets to Achieve Net-Zero
SIX is committed to achieving net-zero greenhouse gas (GHG) emissions across its value chain by 2050
Alliances and Partnerships
BME cooperates actively with international organizations and initiatives to promote sustainability in financial markets. Our participation in global networks and working groups contributes to the development of best practices, promotes transparency, and strengthens the ecosystem.
Some of our most noteworthy initiatives in this area include the following:
Frequently Asked Questions (FAQs)
Sustainability is one of the pillars of the business strategy of BME and is incorporated into all of our activities and transactions. Among other actions, we develop ESG indexes, promote sustainable financing in our business units, develop educational material, and organize courses on sustainability for our clients.
These actions are part of our company’s commitment to being part of a common effort through participation in various initiatives. BME has been a member of the United Nations Sustainable Stock Exchanges (SSE) initiative since 2015. This commitment is reflected in our participation in several working groups, support for the Sustainable Development Goals (SDGs) of the 2030 Agenda, and the organization of events such as 'Ring the Bell for Gender Equality' in March and 'Ring the Bell for Financial Literacy' in October.
We have been committed to the Code of Good Tax Practices since 2010 and have been a collaborating entity of the United Nations Global Compact since 2011. Additionally, we have been a member of Spainsif, a non-profit association that promotes sustainable investment, since 2024.
A strong commitment to sustainability is part of our DNA. This commitment manifests itself along two trajectories, both as a company and as a manager of financial markets. Acting in our capacity as the body charged with the management of financial markets, we provide the enabling environment for the development of sustainable finance in all its various forms. This ranges from investing according to socially responsible criteria in equities, through our FTSE4Good IBEX, IBEX® Gender Equality, and IBEX® ESG indexes, to the promotion of bonds that comply with sustainability criteria.
In this way, we view sustainable finance as a strategic growth opportunity that will allow us to maximize the positive social and environmental impacts derived from the financial sector, while maintaining the same levels of reliability, quality, and transparency that are characteristic of the activities of BME. For this reason, at BME, we have continued to work for fourteen years to develop ESG indexes in the equity markets and to offer the opportunity to issue green, social, and sustainable bonds via the fixed income markets.
On the other hand, in all our activities, we are supported by a responsible management framework comprised of the full range of corporate codes, policies, and procedures establishing guidelines for the activities of all professionals acting on behalf of the company. Responsible management at BME is based on three fundamental pillars. The first is respect for and alignment with the best practices of good corporate governance. For example, one third of its board members are independent, one third are women, and it has not registered any significant legal proceedings for unfair competition practices.
In addition, we are firmly committed to ethical and transparent management. In keeping with the company’s values, at BME we are committed to transparency, both in financial market operations and as regards the disclosure of financial and non-financial information.
And finally, we believe in appropriate risk management to ensure the long-term resilience of the business.
As a company that adheres to the principles of the 2030 Agenda, we guarantee a diverse, equitable, and safe working environment for our employees and promote measures to achieve decarbonization. We also support local development through the supplier policy as well as the payment of direct and indirect taxes.
Through various initiatives in addition to the launch and management of ESG indexes, which help to determine the compliance of the constituent companies.
We are committed to promoting sustainability among issuers and other market participants via, for example, training in the form of specialized courses on this issue provided by the BME Institute. In 2023, the BME Institute launched the first edition of the Sustainable Finance Course in partnership with OFISO. The objective of this program is to provide the necessary knowledge for companies to learn about sustainable financing instruments and formulas, the operation of this specific market, how it is regulated, as well as the risks associated with it.
In addition, BME has been supporting the Institute of Financial Analysts (IEAF) Lighthouse initiative since 2018, which was established to provide analysis to companies that do not have in-house analysts. We have gone a step further by promoting certification for small and medium-sized companies in environmental, social, and governance (ESG) standards, for which there is increasing demand among investors. This initiative will improve the quantity and quality of information provided by Lighthouse to institutional investors, while facilitating the evaluation of investment fund rankings using ESG criteria, a trend that has been consistently increasing in the asset management industry in recent years.
Finally, the Reporting Guide of BME is a document that provides guidelines on the reports published by BME in relation to the execution quality of trades, in accordance with the European Commission Delegated Regulation (EU) 2017/575.
BME has been a pioneer in the dissemination of sustainability indexes. Its range of ESG indexes includes the FTSE4Good IBEX®, the IBEX Gender Equality®, and the IBEX ESG® family.
In 2023, we launched the IBEX® ESG Index family, composed of 47 Spanish listed companies. To be eligible, companies must obtain an ESG rating from an independent provider equal to or higher than C+, comply with the principles of the United Nations Global Compact, and meet certain exclusion criteria related to business activities critical to sustainability. This new family of indexes encourages a commitment to the sustainability of issuers, as well as transparency for investors who wish to invest in companies with strong sustainability performance.
IBEX® Gender Equality was launched in November 2021 to promote gender equality within listed companies. This indicator is updated annually based on information published by the CNMV, and in order for companies to be included in the index, between 25% and 75% of the members of the Board of Directors and between 15% and 85% of people working in senior management roles must be women. The number of companies featuring in the list increased from an initial 30 to 53 at the last revision in June 2023.
These indicators show the degree of compliance of Spanish listed companies in environmental, sustainability, and governance matters.
More information about ESG Indices
ESG (Environmental, Social, and Corporate Governance) bonds are debt instruments issued by companies, governments, or other entities for the purpose of financing projects that have a positive impact in terms of sustainability, social responsibility, and good corporate governance. These bonds are designed to attract investors seeking not only financial returns, but also investments that are aligned with environmental, social, and governance responsibility criteria.
BME plays a key role in the promotion and trading of these financial instruments. Through our fixed income platforms, we facilitate the issuance and trading of social, sustainable, and green bonds, offering investors a wide range of options aligned with their sustainability objectives.
Green bonds earmarked for projects linked to environmental protection are the best known face of sustainability in the fixed income markets; however, they are not the only instruments available to investors in this field.
More information about ESG bonds