Our Director of Strategy and Sustainability, Juan Carlos Delrieu, reaffirmed today the banking sector’s commitment to helping drive an economic reconstruction after the pandemic that is more environmentally friendly, and called for the various social agents to join forces in pursuit of this goal.
During his speech at the online debate on how to incorporate sustainability into the value of real estate assets organized by Sociedad de Tasación, Delrieu stressed that the health crisis provides the opportunity to design a new, more sustainable production model in which every social and economic agent must assume their responsibilities.
“The renovation of Spain’s extensive housing stock can be key to job creation and economic reconstruction after the pandemic,” he stated. “If Spain is to comply with the Paris Agreement and the Climate Change Law, it must involve the real estate sector, which emits 36% of greenhouse gases.”
The transition toward a more environmentally friendly economy also requires overcoming regulatory obstacles, deepening public awareness, and promoting financial innovation. “Now that citizens are aware of environmental care, we need to have well-defined rules of the game to drive sustainable investments and projects,” he emphasized.
Regarding the banking sector’s role in designing a greener economy, he underlined that financial institutions are responsible for risk management and are committed to promoting the necessary investments and projects, but they need to receive quality data to do so.
Furthermore, he maintained that knowing the value of the investment and articulating tax incentives will help homeowners opt for renovation based on sustainability and accessibility criteria. In his view, “it is necessary to rigorously estimate the relationship between value and sustainable investment to avoid greenwashing and relaunch the regeneration of the real estate sector.”
