Javier Rodríguez Soler: “We see growing investment potential in clean energy in the U.S.”
The Global Head of Sustainability and Corporate and Investment Banking at BBVA, Javier Rodríguez Soler, underscored the enormous demand for electricity and energy expected in the U.S. in the coming years, and the need to have the greatest possible variety and quantity of energy sources. “In this sense, we see a growing potential to invest in clean energy in the U.S.,” he said at the ‘Latin America, the U.S. and Spain in the Global Economy Forum’ as part of New York Climate Week activities.
Rodríguez Soler explained that recent regulatory changes in the U.S. have altered the incentive framework for renewable energy. “Electricity demand has seen structural growth that will continue in the coming years, driven by digitization, artificial intelligence and electrification in multiple sectors, such as transportation, real estate and industrial expansion. This has created opportunities to boost energy capacity with diverse solutions, including renewable energy, which continues to be highly competitive,” he said.
In the U.S., there is a shift toward deregulation and fossil fuels, with an energy strategy designed to ensure energy independence and a dominant position in the sector. But under this framework, low-carbon technologies “are competitive and demonstrating their profitability."
In his view, in Europe, decarbonization projects in industries like steel and cement are making progress, backed by technologies such as green hydrogen and carbon capture, while in Latin America, nature-based solutions are gaining ground, such as reforestation and sustainable agriculture.
In a discussion with Robert da Silva Ashley, Partner and Co-Chair of Energy and Natural Resources at DLA Piper, organized by the Spain - U.S. Chamber of Commerce, Javier Rodríguez Soler stressed the importance of financial support and advice for companies in energy transition projects.
“The energy transition is not a single path, but the combination of sectoral and regional trajectories that depend on policies, resources and technologies. At BBVA, we are committed to next-generation technologies to accelerate the transition to a low-carbon economy. We want to support our clients in their transition processes with financing and advisory services, helping to ensure that investment opportunities are scalable and sustainable,” said Javier Rodríguez Soler.
Regarding the factors that drive sustainability, Rodríguez Soler noted that the transformation will only be possible if it is economically viable for companies and households.
Rodríguez Soler recalled that BBVA channeled €304 billion into sustainable business between 2018 and 2024, and the bank has set a new target of €700 billion for the 2025-2029 period.
Organized by the Spain - U.S. Chamber of Commerce, the forum brought together institutional representatives and corporate leaders in sustainability and the energy transition. Some of the participants included Jaime Muguiro, CEO of CEMEX, and Joseph Stiglitz, University Professor and Nobel Laureate in Economics in 2001. Spanish Prime Minister Pedro Sánchez gave the closing remarks.
BBVA at New York Climate Week
BBVA participated in several sessions during Climate Week in New York. Javier Rodríguez Soler also took part in an event organized by Alterra on climate projects in emerging markets, led by Michael Bloomberg, founder of the financial information company Bloomberg, and H.E. Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates and Chairman of the Abu Dhabi National Oil Company.
In another session, BBVA and BloombergNEF brought together representatives from the corporate world and energy transition sector for a roundtable discussion in their offices in New York.
At the forum organized by the World Economic Forum’s Alliance of CEO Climate Leaders, where BBVA’s Global Head of Sustainability Intelligence, Antoni Ballabriga, participated, the bank was recognized for its model to finance its clients’ decarbonization efforts.
BBVA completed its participation with interventions in sessions of the UN Global Compact and the World Economic Forum.