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Sustainability Act. 23 Dec 2019

Carlos Torres Vila at the Climate Summit: "We will place an internal price on CO2 emissions”

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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