The Madrid Climate Summit hosted the ‘New Finance Leadership’ round table with participation from BBVA’s Executive Chairman, along with Nadia Calviño, Spain’s Minister of Economy and Business; Margarita Delgado, Deputy Governor of the Bank of Spain; Inger Andersen, Executive Director of the United Nations Environment Programme (UNEP); and José Antonio Alvarez, CEO of Banco Santander.
“When people ask me about the future of finance, they expect me to talk about digital transformation, but I always repeat, ‘the future of finance lies in financing the future,” Torres Vila said. At the beginning of 2018, the organization Torres Vila runs committed to securing €100 billion in responsible financing by 2025. “We have far exceeded this goal; by June of this year we had already secured €22 billion to be earmarked for sustainable finance,” he added.
BBVA has also committed to reducing its CO2 emissions with a goal of moving entirely to renewable energy by 2030. BBVA’s Executive Chairman used the summit to announce that the bank will place a company-wide internal price on CO2 emissions.
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