BBVA Raises Sustainable Financing Target For 2018-25 Period To $291Bln
13 Ottobre 2022 - 11:06AM
Dow Jones News
By Maitane Sardon
Banco Bilbao Vizcaya Argentaria SA has increased its target for
sustainable financing by 50% as it sees accelerating interest in
products such as bonds and loans tied to environmental, social and
governance objectives.
The Spanish bank said it now aims to mobilize 300 billion euros
($291.07 billion) in sustainable financing between 2018 and 2025,
up from its previous goal of EUR200 billion.
"Sustainability is a business opportunity because the amount of
investment required is huge," BBVA Chief Executive Carlos Torres
Vila said at the Institute for International Finance annual meeting
in Washington on Wednesday.
Mr. Torres said the key trends redefining the world include
digitization, the emergence of new transformative technologies, and
decarbonization.
BBVA said it has reached EUR112 billion in sustainable financing
between 2018 and June this year, with 77% of that amount in
products tied to climate action.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
October 13, 2022 04:51 ET (08:51 GMT)
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