BBVA raises sustainable finance target to 700 billion euros
BBVA has increased its target for lending to businesses the Spanish bank considers sustainable to 700 billion euros ($732.7 billion) over the next five years, it said on Monday. The lender, which last year established a new global finance unit focused on clean technologies and innovation, had set a previous target of 300 billion euros for the period 2018-2025. "Business opportunity in the second part of the decade will be driven by solid investment in infrastructure and by the maturity of certain new clean technologies, which will make them profitable," Javier Rodriguez Soler, BBVA's global head of sustainability and corporate and investment banking, said.