The technological, social, and climate changes of recent years have generated “a shift in the preferences of investors and citizens toward sustainable and high-impact projects and products.” This was stated today by our Director of Strategy and Sustainability, Juan Carlos Delrieu, during his speech at the debate on ‘Responsible Investment and Finance’ organized by Voz Pópuli.
Although there is still a long way to go in the transition toward a more sustainable economy and society, Delrieu maintained that the current moment could not be more ideal to drive this transformation, as reflected by the 54% growth in green bonds in 2020 and 38% in sustainable loans, as well as the recent issuance of the Spanish Green Bond, which saw demand twelve times higher than the amount issued.
Regarding the performance of the financial sector, he stated that it “is well on track to meet the United Nations Sustainable Development Goals (SDGs),” following the progress made in governance, the integration of sustainability into strategy, responsibility in the disclosure of actions, and the promotion of financing with new green products and services, all reinforced by a strong commitment to innovation.
The signing of the Principles for Responsible Banking, the climate agreement signed by 95% of Spanish banks, and the creation of Finresp are some examples of this commitment, he illustrated, convinced of the important role of banks in the transformation toward a decarbonized economy. However, he emphasized that public-private collaboration is vital for this process, which is full of challenges, to be carried out properly.
Among these challenges, our Director of Strategy and Sustainability cited the need for homogeneous and clear data to measure whether the will of companies translates into impact and value creation, and to shift the current regulatory focus—centered on data disclosure and reporting—toward trying to minimize the harmful impact of greenwashing.
