Sustainability as a transforming axis of the new economy

Sustainability is one of the priorities of the Sustainable Development Goals (SDG) set in the 2030 Agenda and one of the seven transcendental sectors for the new economy, according to the organizers of the third edition of BNEW (Barcelona New Economy Week), the physical and digital B2B meeting point that takes place in emblematic settings of the city.

NewsEditor
NewsEditor
03 October 2022 Monday 01:46
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Sustainability as a transforming axis of the new economy

Sustainability is one of the priorities of the Sustainable Development Goals (SDG) set in the 2030 Agenda and one of the seven transcendental sectors for the new economy, according to the organizers of the third edition of BNEW (Barcelona New Economy Week), the physical and digital B2B meeting point that takes place in emblematic settings of the city.

Society is increasingly aware of the need to move towards a more sustainable world, based on a more inclusive, low-carbon and climate-resilient socioeconomic model, in which a more ecological way of living prevails and in which and mitigate the impact it is causing in climate change.

To this end, the commitment to renewable energies, sustainable mobility and energy efficiency are key to the transformation challenges that companies and individuals must face. Despite the fact that progress has been made, it is necessary to continue along this line in all areas and also in finance as a transforming agent.

In this sense, banking entities are committed to offering sustainable financing and investment in order to accelerate economic and social changes that contribute to sustainable development.

An example of this is Sabadell Sustainable Commitment, Banco Sabadell's action framework that integrates the future vision of environmental, social and governance commitments into its strategy and establishes action levers with transformation and promotion actions.

As the entity's managers point out, "Sabadell Sustainable Commitment integrates the SDGs into the sustainability strategy and sets objectives aimed at accompanying and responding to the main social, environmental and governance commitments in which it can have a positive impact on its business , customers, investors and society”.

To achieve this, Banco Sabadell has involved all the entity's bodies and has set four strategic axes on which it is currently working: advance as a sustainable entity; accompany clients in the transition to a sustainable economy; offer investment opportunities that contribute to sustainability, and work together for a sustainable and cohesive society.

The bank has a wide range of ESG solutions for which it has established agreements with partners to facilitate the transition towards sustainability. On a large scale, the entity promotes the financing of projects (Project finance) for the new construction of renewable energy plants (Greenfield), being one of the main players in Spain and making investments in wind, photovoltaic, solar thermal, mini-hydraulic energy projects, cogeneration and biogas through its subsidiary Sinia Renovables, which has more than 25 years of experience.

In relation to companies, Banco Sabadell offers financing solutions in the different businesses through Financing applied to Sustainability (FaS) in which the use of funds is the main criterion to determine the green, social or sustainable nature, and Financing linked to Sustainability (FvS) for that which encourages the achievement of sustainability objectives. In addition, it pays special attention to SMEs, providing strategic advice and offering specific solutions to their transformation challenges.

The entity has also focused on energy efficiency by introducing end-to-end solutions (financing service) and promoting their deployment and integration to increase the use of renewable energy over final consumption. To do this, it offers financing according to each customer profile (companies, SMEs and individuals) with loan, renting and leasing options for products such as photovoltaic panels for self-consumption, which include installation solutions with turnkey services.

In parallel, Banco Sabadell grants financing for water and waste management, key to the economy of the future. The entity also helps the energy rehabilitation of private and community homes through financing, offering turnkey solutions, facilitating the processing of aid from European Funds and associating itself with agents specialized in rehabilitation. These actions contribute to urban regeneration, also allowing its decarbonisation.

The energy transformation requires solutions for sustainable, safe and connected mobility, aimed at the fabric of the city and its infrastructures. Banco Sabadell is helping to promote green transport, promoting the use of the ECO vehicle, with a wide offer for companies and individuals, in addition to its renting offer of electric vehicle recharging stations and the deployment of infrastructure in public spaces, contributing thus to the electrification of mobility and the improvement of air quality.

Another lever is support for sustainable entrepreneurship. One example is the 3rd edition of BStartup Green, a Banco Sabadell program aimed at environmental sustainability projects in the pre-seed and seed phases; an ideal opportunity to allocate investments to technology and businesses that provide solutions for the future of the economy linked to the energy transition, industry 4.0, smart cities or the circular economy.

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