ICO brings Spanish issuers and international investors together in London to analyse the green and social impact bond market
"Sustainable Finance in Spain" Forum in London
The event was opened by the Spanish Ambassador to the United Kingdom, Carlos Bastarreche, and Instituto de Crédito Oficial chairman, Pablo Zalba.
Instituto de Crédito Oficial, in collaboration with HSBC, has today held the "Sustainable Finance in Spain" forum in London to analyse the progress of sustainable bond issuance in Spain.
Over the last year, this market has developed a great deal, with the entry of new issuers committed to the principles governing transactions of this kind. The funds raised from these transactions are used to finance operations that generate a positive social or environmental impact.
The event was opened by the Spanish Ambassador to the United Kingdom, Carlos Bastarreche, who underlined the potential of the green and social impact bond market in Spain. "Since 2014, sustainable bonds worth more than 12 billion euros have been issued on the Spanish market".The Ambassador declared that "confidence in the Spanish financial system has been restored" and that Spain had gone on to "lead economic growth in Europe".
For his part, the chairman of ICO, Pablo Zalba, used his address to explain that holding the event in London provided an opportunity to internationally showcase the development of sustainable financing in Spain. "It is a fact that society demands more social commitment from its institutions and at the Instituto de Crédito Oficial we aspire to contribute to that". ICO is working actively to promote and encourage the growth of the sustainable bond market and, in that regard, today's forum complements the ICO Sustainable Bonds Forum, which is held annually in Madrid.
Pablo Zalba also emphasised that the institution that he chairs "is one of the key actors in this sector, with four social impact bond issues undertaken to date amounting to more than 2 billion euros" and he confirmed ICO's commitment to continue increasing its presence in the area of sustainable financing.
The event brought Spanish issuers and international investors together to discuss how the Spanish market has contributed to the development of this sector. The panel included representatives of ICO, Iberdrola, Caja Rural de Navarra, Affirmative Investment Management and Amundi. All of the participants were in agreement in pointing out that for this market to function correctly, the investments must respond to clear criteria in relation to transparency, reputation and identifying sustainable goals.