BBVA was presented the ‘Sustainability Action 24’ award by Compromiso RSE for the bank’s support of the clean technology ecosystem. The organization specifically recognizes the creation of a unit dedicated exclusively to financing cleantech, as well as BBVA being the only financial institution participating in the ‘Cleantech for Iberia’ initiative.
The award falls within the ‘Companies’ category of the ‘Sustainability Actions 24’ awards, which for the fourth consecutive year recognize initiatives and projects in the fields of sustainability, the environment and social inclusion. BBVA is committed to cleantech, which will be essential for the decarbonization of the economy and the green reindustrialization. And it has demonstrated this by expanding its sustainable business products and services through the creation of a specialized financing unit for financing what is also known as clean technologies. The team in this global unit, located in Houston, New York, London and Madrid, offers advice on this subject to help all of its clients in their energy transition.
Karla Ceño, Executive Director of Cleantech at BBVA, stressed that “technology will be critical to decarbonizing the economy” when she received the award. In this regard, she feels that “there are already several decarbonization technologies that work and are profitable, as well as many others that allow us to be optimistic about the future.” “The story of sustainability is a story of innovation. And here, banking plays a crucial role by supporting, mobilizing and investing,” she explained.
Furthermore, this award recognizes BBVA for being the only financial institution to join the ‘Cleantech for Iberia’ initiative to accelerate the development of cleantech in Spain and Portugal. The main purpose of this project is to establish the Iberian Peninsula as a global hub for clean technologies. In fact, according to a report by BBVA and ‘Cleantech for Iberia’, cleantech will mobilize over €150 million in Spain and Portugal by 2030, and an estimated 2.65 million new green jobs could be created.
Sustainable finance, the driver for a green economy
The announcement recognizing BBVA for its support of cleantech took place within the framework of the annual ‘Sustainability Day ’ event, organized by Custommedia at the Reina Sofia Museum in Madrid. A forum where sustainability strategies and best practices from various businesses and organizations are shared in round table discussions and presentations. This year, over 800 people and 35 speakers from organizations, institutions, companies and startups came together to discuss trends, challenges and inspiring actions with the aim of working for a more sustainable, just world.
Antoni Ballabriga, Global Director of Sustainability Intelligence at BBVA, participated in the roundtable discussion, ‘Sustainable, responsible financing: the driver of change for a green economy’. “We have to finance our clients’ emission reduction and transition plans,” said Ballabriga, who emphasized the importance of investing in cleantech. In the fight against climate change, technology plays a vital role in creating sustainable solutions that are also profitable. In this regard, Ballabriga stressed that “we have to invest in innovation and infrastructure,” underscoring “BBVA ‘s commitment to capital investment, beyond financing.”