The Financial Centre for Sustainability in Spain (Finresp), based in Madrid, is an initiative of AEB, CECA, Inverco, Unacc, and Unespa
It was established to address the needs of SMEs in adapting to the requirements of the upcoming Climate Change Law
The Financial Centre for Sustainability in Spain (Finresp) has joined the International Network of Financial Centres for Sustainability (FC4S), promoted by the United Nations Environment Programme, which aims to ensure that sufficient private capital is allocated to green and climate-friendly investments.
Finresp, created in 2019 by the main financial sector associations—AEB, CECA, Inverco, Unacc, and Unespa—thus becomes the twenty-seventh member of the United Nations international network, whose objective is to exchange experiences and undertake common actions to accelerate the expansion of green and sustainable finance.
Based in Madrid, this center was established with the aim of specifically addressing the difficulties and needs of the business fabric and small and medium-sized enterprises in adapting to the requirements of the upcoming Climate Change Law and to the regulatory proposals on sustainable finance recently presented by the European Commission.
For the President of the Spanish Banking Association, José María Roldán, “with this adhesion to the International Network of Financial Centres for Sustainability, our center joins the burgeoning international movement of sustainable finance undertaken by major global corporations in compliance with the Paris Agreement. We want to learn from experiences developed in other countries and even launch joint initiatives that can help our companies adapt to the Climate Change Law and thus become increasingly respectful of the environment and the concept of a fairer and more sustainable economy.”
José María Méndez, General Director of CECA, also stated that “this action demonstrates the commitment of Spanish retail banking and Finresp to promoting responsible banking. Our main purpose is to carry out joint actions to accelerate the expansion of a green economy and a culture with environmental, social, and corporate governance (ESG) criteria among SMEs in our country.”
For the President of Inverco, Ángel Martínez-Aldama, “Finresp’s adhesion to the International Network of Financial Centres for Sustainability underscores the commitment of the asset management industry and the entire financial community to sustainable finance, which already represents one of the main driving forces in channeling investment flows towards a sustainable future.”
Pilar González de Frutos, President of Unespa, considers that Finresp’s recent step to join FC4S is “an excellent opportunity for the insurance business to contribute to addressing environmental, social, and governance risks and opportunities.”
