Alejandra Kindelán, president of the Spanish Banking Association (AEB), has highlighted the role of banks in the sustainability agenda, which, in a context of geopolitical tension, is inextricably linked to the promotion of competitiveness, growth, sovereignty, and economic security.
During the closing ceremony of the 10th ICO Sustainable Bonds Forum, Kindelán highlighted the enormous challenges Europe faces in addressing the new needs associated with the green and digital transitions. “Today, the sustainability agenda is a driver of transformation,” he said.
Given the scale of these projects, the president of the AEB noted that sustainable bonds are essential for channeling long-term savings into these projects, which must also be profitable. In this regard, she highlighted the importance of public-private partnerships, in which the ICO plays a key role in complementing the private sector through its guarantee schemes and the ability to leverage the banking network’s reach.
“To promote sustainable investment, public authorities must provide appropriate incentives and ensure that objectives and policies remain predictable and stable over time,” Kindelán added.
The president of the AEB has emphasized the banks’ commitment, noting that new lending for sustainable activities in Spain exceeded 90 billion euros last year. But expectations for the coming years are even higher.
For this reason, and to ensure that the banking sector can maintain momentum on these projects, a stable, integrated, and predictable regulatory environment is needed. On the subject of sustainability, Kindelán noted that progress has already been made through initiatives such as the first Omnibus simplification package, the reform of the CSRD, and that of the CS3D, which have helped reduce administrative burdens, particularly for SMEs.
“We now hope that supervisors will adjust their expectations to this new simplified framework,” he said during the meeting, which was also attended by ICO President Manuel Illueca and Carla Díaz de Toledo, Director General of the Treasury and Financial Policy, among others.
