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BBVA promotes sustainable finance at the UN

Wednesday, October 18, 2017

Antoni Ballabriga, Global Head of Responsible Business at BBVA, took part in a regional roundtable on the progress of sustainable financing, in an event organised in Switzerland by the UNEP Finance Initiative (UNEP FI) in association with the Swiss Sustainable Finance platform (SSF). 

BBVA took this opportunity to share its vision on sustainable financing at this leading forum for the financial community.

At the event, players from all over Europe came together to discuss the latest trends and innovations in sustainable finance, and to share best practices. The event also marks the 25th anniversary of the UNEP Finance Initiative, which is a public-private collaboration programme between the United Nations environment programme (UNEP) and the financial sector.

“At BBVA we are convinced that the financial industry is at a tipping point that will bring about the scale of capital mobilisation we need to curb climate change and attain the sustainable development goals (SDGs)”, said Antoni Ballabriga.

Ballabriga outlined four forces that have radically changed the thinking on sustainability in the last few years, so today environmental and social challenges have become much more important in the business models of financial institutions.

Firstly, the inclusion of sustainability on the global agenda is already a fact. Secondly, there is also a clear market opportunity, as sustainable development goals will represent a market of 12 trillion dollars a year, and an expected annual investment of between 5 and 7 trillion dollars until 2030.

Thirdly, there are also more and more investors with teams specialising in sustainability, with banks developing a stronger commitment to them. Finally, regulation, both obligatory and recommended, has intensified and become far stricter.

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