Santander and CaixaBank have become global green lending giantsso that the first stands out especially in the United States and the second does so in Europe, but both have reached the top with projects such as the financing of the largest offshore wind farm in the worldaccording to ‘Expansión’.
The largest offshore wind farm in the world is being built more than 130 kilometers off the northeast coast of the United Kingdom, the total credit for its development reaches 10,000 million euros and both Santander and CaixaBank are in it, but the economic newspaper points out what there are many other operations underway.
‘Expansión’ collects the ranking of Bloomberg green loans that attest to this and indicates that Santander has been the third most active bank in the granting of sustainable credit in the US in 2021, according to the classification that takes as a reference the loans that are destined directly and in its entirety to finance a project that has a positive impact on the environment.
In this way, the entity chaired by Ana Botín closed 2020 in fourteenth position and has climbed 11 positions in one year thanks to the boost you have given to your investment banking business in the United States and the creation of a special ESG (environmental, social and governance) team, dedicated to seeking opportunities in this area and advising clients on transforming their business towards more sustainable alternatives, reports ‘Expansión ‘.
He adds that Santander’s participation in Vineyard Wind 1 is one of the fruits of that impulse. It is the largest offshore wind farm in the United States and the Spanish bank has acted as exclusive financial advisor in the structuring and execution of the transactionas well as coordinator of the green loan that the project has needed for its start-up, he adds.
With regard to Europe, the economic newspaper explains that the continent is CaixaBank’s specialty and that this is reflected in the Bloomberg ranking of responsible lenders for the Emea region (Europe, the Middle East and Africa).
It states that the Spanish bank was the third most active in that area in 2020 and repeated in 2021, with eight green syndicated operations and a quota that exceeds 9% of the total sustainable credit granted last year.
Santander also appears in that ranking, although in a less prominent position. Its position is eighth and there is another Spanish bank on the European list, BBVA.
In this way, it stands out that with the impetus of the US and Europe, Santander and CaixaBank have managed to position themselves for another year among the 20 “world giants of green loans”, adding all geographies. The global ranking that includes the banks that have granted the most pure sustainable credit during 2021 to companies around the planet testifies to this, ends the analysis of ‘Expansión’.
Santander, the first Spaniard to appear, is in eighth place, rising two positions from the previous year, and CaixaBank appears five places behind.
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