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Spanish banks are founder members of Net Zero Banking Alliance

By John Smith • Published: 23 Apr 2021 • 13:18

Adoption of Paris Agreement

Adoption of Paris Agreement Credit: UN Climate Change flickr

SANTANDER, BBVA and Caixa have become founding members of the Net Zero Banking Alliance (NZBA), which has been convened by the United Nations Environment Programme Finance Initiative.

The group plans to help mobilise the financial support necessary to build a global zero emissions economy and deliver the goals of the Paris Agreement, and provide a forum for strategic coordination among financial institutions to accelerate the transition to a net zero economy.

NZBA brings together 43 of the world’s leading banks (although this may increase) and members are committed to phasing out all operational and attributable greenhouse gas (GHG) emissions from their lending and investment portfolios.

At the end of 2020, Santander CIB was the world leader in renewable financing, according to Dealogic. In 2020, the bank helped finance greenfield renewable energy projects with enough installed capacity to power 10.3 million households, and prevent 60 million tons of CO2 emissions.

The bank also announced the appointment of Antonio Simoes as CEO of Santander Spain who joined a year ago from HSBC.

Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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