BBVA is strongly committed to sustainability, which is reflected not only by its own ambitious goals as a financial institution, but also by a very significant objective, present in all its activities, of supporting its clients on the road to sustainability. In this context, the bank today announced the launch of its carbon markets business, a product line within its Global Markets unit that will operate from Madrid and will be led by Ingo Ramming, who will join the bank as Head of Carbon Market Products.
Addressing climate change is one of the most urgent and complex challenges of our time and will require a very significant level of investment. With the creation of the carbon markets business line, BBVA will extend its ability to offer its corporate customers products that help them manage their regulatory and/or voluntary commitments related to climate change. As a first step, the bank will establish financing capacity (repos, total return swaps, etc.) and a derivative product offering in European Union emission allowance certificates.
Roberto Vila, Global Head of Equity at BBVA, notes that: “Being involved in offering market products that will help our customers combat the effects of climate change is a business necessity and at the same time an opportunity. I am delighted that this strategic development is being led by a professional with such experience as Ingo Ramming”.