BBVA is investing $25 million (€23.6 million¹) in climate fund Decarbonization Partners Fund I, which raises the bank’s total investment in climate-related funds to €108.4 million. The bank is actively contributing to the decarbonization of the economy through its participation in funds of this kind.

76 percent of BBVA’s lending portfolio corresponds to clients in emission heavy sectors that are making progress in their transition to net zero emissions, according to the latest update to BBVA’s sustainability strategy, published November 3rd. The document underscores how the bank promotes new businesses through sustainability.

BBVA Chair Carlos Torres Vila, together with over 100 chairs or CEOs of large global companies, signed a declaration calling on the global leaders participating in the upcoming United Nations Climate Change Conference in Dubai (COP28) to commit to “transformative policies and actions.” “Every fraction of a degree counts in the race to net zero,” explains this open letter from the Alliance of CEO Climate Leaders promoted by the World Economic Forum (WEF).

The protection of nature and its sustainable management is a matter of the very survival of the planet. Moreover, a growing number of financial institutions are becoming aware that this field offers a real opportunity. The deployment of long-term strategies, the role of investors and shareholders, and increasingly stringent regulation paint a brighter picture.

Last week’s big event shed some fascinating light on the progress we have made toward our shared commitments, though we were also reminded of the huge challenges we still face in building a greener and more inclusive world. Once again this year, the UN General Assembly in New York hosted the SDG Summit and New York Climate Week, which featured plenty of initiatives and events related to the Sustainable Development Goals (SDGs) and climate action.

Javier Rodríguez Soler, Head of Sustainability and Corporate & Investment Banking (CIB) at BBVA, highlights in this article, published by EUROFI, the importance of the transition towards a greener and more inclusive economy in Europe.