2023-10-06 19:42:11
Green Finance Institute (GFI) has settled in Spain to design and offer financial solutions and opportunities oriented towards a green economy. With its premiere at the Círculo de Bellas Artes in Madrid within the framework of the round table ‘Green and sustainable investment: Challenges and achievements of the Spanish industry’ -composed of experts in decarbonization to address its effects on the Spanish economy-, the speakers They analyzed the importance of public and private collaboration as well as the increase in investment to face the challenges posed by the energy transition.
Led by Eduardo Brunet Álvarez de Sotomayor, responsible for developing the strategy for decarbonization, GFI Spain aims to increase private financing for the decarbonization of the economy with an initial focus on the built environment and will focus on addressing 40% of the emissions generated by the built environment. Brunet will lead the citiES 2030 financial program, made up of eight Spanish cities including Barcelona, Madrid, Soria, Seville, Valencia, Valladolid, Vitoria and Zaragoza and which is part of the EU’s mission to convert 112 cities into climate-friendly neutral and smart by 2030.
The presentation day was attended by the Secretary of State for Transport, Mobility and Urban Agenda, David Lucas Parrón; the financial director and head of Sustainability of CBRE, Patricia García; the director of Strategy and Sustainability of the Spanish Banking Association, Juan Carlos Delrieu; the general director of Climate-KIC in Spain and LATAM, María García; and the Deputy Director General of Digital Sustainable Finance of the Treasury and Financial Policy.
“GFI has a vision that is not small: to achieve a greener future through financing, since this is absolutely necessary to achieve these objectives that concern everyone. The public sector leads the way by providing infrastructure, standards, regulation, among others, but Even in Europe, the funds obtained do not exceed 20%,” said Álvarez de Sotomayor, who explained that obtaining financing “is not easy at all, in fact, it is quite complicated and it must be made possible by everyone.” To achieve change, the public-private sector must work together”, which according to Álvarez de Sotomayor is the “DNA of the Green Finance Institute: a catalyst for initiatives.”
The event was also attended by the general director of GFI Europe, James Hooton, who stated that it is vital to catalyze private financing to decarbonize the most polluting sectors and achieve a green transition. “In Spain, the Green Finance Institute will collaborate closely with the financial sector and market participants to overcome obstacles to green investment,” he concluded.
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