PortCastelló commits to financing sustainable hand in hand with BBVA
BBVA and the Port Authority of Castellón have signed a sustainable confirming.
It is a product whose conditions, in this case, are linked to environmental, social and governance (ESG) factors. In this way, with the sustainable version of confirming, the port of Castellón becomes the first Port Authority in Spain that may offer advance payment conditions of more favorable invoices to the suppliers with the best performance in sustainability.
In this new operation, signed today at the facilities of the Authority Port Authority in Castellón, the interest rate applicable to the discount of invoices of its suppliers is linked to their compliance with certain previously agreed sustainability, green and social criteria BBVA, a pioneer in sustainable financing, is committed to the Principles of United Nations Global Compact, with the objectives established in the Agreement of Paris and with the achievement of the United Nations Sustainable Development Goals United.
This sustainable transactional product, which also has as a reference the highest market standards, reinforces this commitment and the offer of sustainable financial solutions that the entity offers its clients.
“Today we achieved a very important milestone in BBVA, by promoting and encouraging the chain of suppliers of the port of Castellón to transition towards the objectives of sustainability of your client. Sustainable confirming is the best way to activate and promoting sustainability in the supply chain, adding and uniting efforts to combat climate change. The future of banking is to finance the future, a green and fairer future for all, affirmed Carlos Rodríguez Escudero, Eastern Regional Director of Corporate and Business Banking at BBVA.
For his part, the president of the Port Authority of Castellón, Rafa Simó, has pointed out that this agreement is “an important milestone for our organization, because is in line with our commitment to sustainability, which is already marked in our Strategic Plan, and will help us to be more competitive by simplifying the supplier payment processes.