Some people think of a bank as a warehouse, dówhere customers deposit their money and banks keep it safe for them. This misconception ignores the fact that banks invest their customers' money. They often do so without providing transparent information about how their money is used, let alone allowing them to decide what activities they want to be funded with it. In a group ProCredit We value transparency as one of the fundamental pillars of our institution and we openly communicate our operations to all stakeholders. our new account in digital sustainable financing model ProGreen, which launched in 2021, emphasizes this even more, by letting our customers know and decide where their money goes.
The check in digital ProGreen guarantees our customers that their money is invsteeprá in businesses with high environmental standards, social and environmentally friendly projects. Therefore, our clients can be sure that their money will not fund activities in protected areas, fossil fuel extraction or single-use plastic production. This not only provides full transparency to clients, but also allows them to autonomously decide how they want to use their savings and thus become empowered participants in the financial market. Account ProGreen places in the hands of your customers decision and responsibility for how they are used sus savings.
In order to be consistent with our environmental objectives and our strategy commercial, la account ProGreen it is 100% digital. The opening of the account, as well as any of its functions, is carried out de crafts online with zero use of paper. In addition, the fact that the customer can perform any service related to the account directly in the application helps reduce CO2 emissions, since the customer does not have to go to the bank. In Ecuador, air pollution is a very important issue that is increasingly es approached by the public generally. We are contributing through our services lto reducetion of pollution.
In addition, our clients have the possibility of requesting our debit cardor sustainable. And you will ask yourself, how can a plastic card be sustainable? Thanks to its elaboration with polylactic acid (PLA) produced from corn, it is possible to obtain a card that, after its useful life, biodegrades in 6 months under controlled conditions, being a green substitute for regular plastic cards that remain up to 400 years in the environment. Our cards are delivered in recycled paper envelopes using sustainable vehicles, which closes the circle of sustainability of the account.
Why does this new sustainable account mean so much to us?
Environmental awareness and the general idea of sustainability are becoming more important every day, as exemplified by the large amount of funds dedicated to green and sustainable investments in general. Through our line of green credits, EcoCredit, we have supported our clients in their investments in: energy efficiency, renewable energy and other environmental measures for more than 10 years and long before it became a current issue.
Almost 20% of our total portfolio is green and our approach is intrinsic and consistent. In addition, it ensures our future growth in responsible lending. Therefore, for us ProGreen is an important step: through this account, we aim to motivate our clients to be part of our expanding sustainable community, where they can align the use of their savings with their personal values.
Sustainability is inherent at ProCredit and our goal is to attract like-minded people to form a long-term partnership that helps preserve the environment and improve social aspects in Ecuador.
