The president of the AEB, Jos\u00e9 Mar\u00eda Rold\u00e1n, believes that “the greatest risk for the banking sector regarding climate change is underestimating its importance and complexity.” He made these remarks during the ‘Flattening the Climate Risk Curve’ webinar, organized by IFC and Felaban. <\/p>\n
In this regard, he commented that “customers are shifting toward digital and sustainable solutions. If we do not make that change as well, we will be left without customers and without business. Either we adapt to the change or we are dead.” In his opinion, approaching this world requires a deep commitment and continuous training from banks. “There is no manual,” he said, “for making this transition, which is subject to continuous technological and regulatory change, nor is there any room for greenwashing.” <\/p>\n
Regarding regulations, the president of the AEB indicated that “the attitude of regulators has undergone a major change in recent years, as they are aware that the transition toward a sustainable economy is fraught with banking risks, so they will likely end up introducing penalties and incentives into capital regulations.”<\/p>\n
Finally, Jos\u00e9 Mar\u00eda Rold\u00e1n referred to the process of rebuilding our economy: “I have reflected, and continue to do so, on what we must base the recovery, and I believe we must set aside the oldest and most fragile elements and invest in future factors, such as clean energy and energy efficiency, among others.”<\/p>\n
He acknowledged that some of these factors are complex, while others are simpler. He cited as an example the renovation of Spain’s obsolete housing stock, which “would not require great sophistication, benefits everyone, and can be a major generator of employment.” <\/p>\n