The 20 largest Spanish banks commit to financing the fight against climate change

Spanish banks unite against climate change. About twenty giant Spanish establishments have signed at the moment the “Collective dedication of Spanish banks with climate motion” in the Pavilion of Spain and with the presence of the president of the Spanish Banking Affiliation, José María Roldán, in addition to the president of the ICO , José Carlos García de Quevedo and José María Méndez, CEO of Cecabank.

The predominant aims of the Settlement are aligned with the United Nations Collective Motion for Climate Motion who signed a complete of 31 world banks final September in the framework of the Ideas of Accountable Banking promoted by the UN Atmosphere Monetary Initiative. The goal of this initiative is to transfer ahead to align what you are promoting with the Paris Settlement and the United Nations Sustainable Improvement Objectives (SDGs).

Amongst these aims, the following stand out: contribute to selling measures aimed toward limiting the enhance in world temperature beneath 2 ° C and striving to keep away from exceeding 1.5 ° C with respect to the pre-industrial stage and to cut back the vulnerability of various financial brokers to The penalties of climate change.

The entities assume the dedication to report yearly on their particular person progress and biennially in the implementation of this dedication and can publish the aims three years after the signature.

For this, the entities have set a calendar that consists of 12 months after the signature, a set of measures can be revealed to help and speed up the shift in the direction of applied sciences, enterprise fashions and societies with low carbon and climate resistant.

The banks which have signed the settlement are: Banco Santander, BBVA, Caixabank, Bankia, Banco Sabadell, Bankinter, Kutxabank, Unicaja Banco, Abanca, Ibercaja Banco, Liberbank, ING Financial institution, BNP Paribas, Banca March, BCC-Grupo Cajamar, Cecabank , Société Générale, Bankoa-Grupo Credit score Agricole, Banco Mediolanum, Triodos Financial institution, Financial savings Financial institution and Monte de Piedad de Ontinyent, Colonya-Caixa D'Estalvis de Pollença.

Entities resembling Santander and BBVA have already proven their intention to mobilize 220,000 million for sustainable financing in the coming years.

Banking and climate change: prepared to take motion, by José María Roldán