Summary sheet
The operation concerns 100% green mortgages for private individuals and real estate developers to finance energy efficiency and renewable energy projects in Spain.
The aim is to support climate projects in sectors supporting both national and European targets for energy efficiency and renewable energy, as well as the reduction of CO2 emissions. As such, the project meets the EIB and EU Taxonomy requirements and supports EU objectives in terms of climate action and diversification of energy supply.
The operation will target investments in Climate Action initiatives, more specifically energy efficiency investments in buildings by individuals (new construction) carried out in Spain. Some of the projects are expected to be located in less developed and cohesion regions.
The operation enhances access to finance for final beneficiaries for Climate Action related investments and improves financing conditions for them through long term tenors and favourable financing conditions.
Financial intermediaries, including BBVA, are pivotal in this transition, as financing is crucial for unlocking the investments needed for its realisation. Addressing climate change is a central aim for BBVA, which has established itself as a frontrunner in green financing and has recently been recognised as the most sustainable bank in Europe. In December 2023, for the fourth year in a row, the Dow Jones Sustainability Index (DJSI) ranked BBVA highest in the European banking sector. The DJSI, the premier global sustainability index, announced its latest rankings on December 8, 2023, including 27 banks worldwide. BBVA also stands out for its leadership in issuing Green Bonds within the EU.
BBVA has publicly committed to mobilise green finance lending for EUR 300bn between 2019 and 2025. The EIB is a key partner to BBVA to achieve this target and has developed specific EIB products, including those targeting green financing with EIB requirements for its branch network and clients.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
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Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
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