The financial and business sectors, supported by administrations, must direct their activity towards those activities that are aligned with the Sustainable Development Goals (SDGs) to contribute to accelerating the process and the goals set in the 2030 Agenda, as highlighted in the round table SDGs, looking towards 2030, which was held within the framework of the Barcelona New Economy Week.
The session brought to the debate table the importance of complying with the objectives determined by the 2030 Agenda, especially in the current decade, because the speakers agreed that "much" is being done, but "little time remains". In this sense, they highlighted Europe's role in leading the process, the need to deepen awareness among the world population, and that working for and towards the SDGs should not be seen as a challenge, but as an opportunity. They also analyzed the role that both administrations and companies and institutions must play.
All parties were represented at the round table with the participation of Arnau Queralt, director of the Advisory Council for Sustainable Development of the Generalitat de Catalunya; Víctor Quesada, general coordinator of the international network of SDG promoters in Spain; Xavier Ribera, director of communication, institutional relations and sustainability at Basf Spain, and the director of sustainability at Banco Sabadell, Ana Ribalta.
The director of sustainability at Banco Sabadell spoke about the double impact of the 2030 Agenda: public and private finance. As Ribalta highlighted, one way to encourage the acceleration of the objectives set for the end of this decade is through the correct implementation of European restructuring funds, among other things, because the European Union has already included all the levers for progress towards sustainability in its design.
"From the Spanish and European financial system, a very clear contribution can be made to this work because the sector is very well structured to channel all these funds from large companies to small self-employed individuals," Ribalta assured. That is why, "from the financial sector, we must anticipate in granting financing aid for those who access these funds because sometimes the resolution periods in resource management are long, but also help them as Spanish entities have done, and among them Banco Sabadell, supporting them in the management of all necessary documentation and procedures." The bank understands that "it is extremely important for the financial sector to contribute in an accelerated and orderly manner to support all economic agents so that they can access European and Spanish restructuring funds."
Considering that for every euro invested by the public sector, the private sector must invest four euros, the financial sector must also be side by side with private investment in achieving the SDG objectives because "in companies that are not implementing sustainability goals within their business commitments, their long-term economic and financial solvency will be compromised," Ribalta added and stressed that hence the interest of finance in ensuring all agents are in line with the 2030 Agenda. Otherwise, "they will receive less financing and what they do receive will be more expensive," he specified.
The session has brought to the debate table the importance of complying with the objectives determined by the 2030 Agenda, especially in the current decade, because the speakers have agreed that "much" is being done, but "little time remains"Xavier Ribera, director of communication, institutional relations, and sustainability at Basf Spain, highlighted that this chemical company clearly understands that "either responsibilities in sustainability are assumed or there will be nowhere to play as a key business piece"and for this, as he has insisted, we must be co-responsible with all the actors that form the value chain. "Companies and consumers must become aware that we must produce and consume responsibly." Currently, Basf works focused on the SDGs, particularly on 13 Climate Action and 12 to ensure sustainable consumption and production patterns, with "the focus on the circular economy" and in collaboration with thestakeholders.
Banco Sabadell works with the will to implement the 17 Sustainable Development Goals (SDGs) but "you have to know how to prioritize those in which, as an organization, you will have power of influence and great impact, and in which, while maintaining your activity, you can commit to carrying them out with guarantees and success," Ribalta highlighted. The financial institution has carried out an internal analysis and reflection, incorporating the company's stakeholders to decide what is really important within its activity. "Subsequently, as a result of the evaluation, choices are made and priorities are set to be able to jointly establish very specific objectives," metrics that will mark the roadmap to follow, incorporating it as another segment of the company's daily management.
Ana Ribalta: "In companies that are not implementing SDGs, their economic and financial solvency will be compromised in the long term"In the case of Banco Sabadell, actions have been designed for all 17 objectives, among which the goals set for SDG 13, Climate Action, stand out, which urges urgent action to combat climate change and its effects. Ribalta explained that among these measures they help companies to decarbonize through "the sustainable financing sources we offer them, sustainable products as such, and accompanying them in decision-making"as for example, something as simple as how the carbon footprint is calculated, what is the process that must be followed to reduce it.
Another aspect incorporated by the financial entity has to do with risk analyses for financed companies to analyze how they should incorporate the environmental transition into their business structure.
It is worth highlighting within the series of actions promoted by the bank, its collaboration as the first bank in Spain with Mastercard's global Priceless Planet Coalition project, with the aim of planting 100,000 trees by 2025. With this action, Banco Sabadell adds its grain of sand to the initiative to achieve a more global impact on the planet. Mastercard launched it in 2020 to unite the efforts of companies, financial institutions, local authorities and consumers to fight climate change by planting 100 million trees over five years, with the help of expert forestry and climate change organizations, such as Conservation International (CI) and the World Resources Institute (WRI).
Banco Sabadell has joined Mastercard's Priceless Planet Coalition project, to plant 100,000 trees by 2025The head of sustainability at Banco Sabadell explained that the impacts of the SDGs on any company "are enormous," internal and external, and that in the case of the entity it has been an internal look at the organization as a whole, in which all products are rethought from the point of view of environmental, social and governance impact, how they are produced, what is the relationship with employees and clients, etc. "But this work is an opportunity in three basic senses:employee commitment to the company increases, greater customer loyalty is achieved and, without a doubt, it is a source of innovation in service, product, channels... in everything," Ribalta pointed out.
Throughout the session, Arnau Queralt, director of the Advisory Council for Sustainable Development of the Generalitat de Catalunya, emphasized the role of administrations as a lever to promote the implementation of all SDGs and to work towards raising public awareness.
On this aspect, Víctor Quesada, general coordinator of the international network of SDG promoters in Spain, recalled that the latest published reports show how only between 5% and 7% of the population is familiar with the 2030 Agenda and the goals it has set. Quesada believes that administrations must deepen the reformulation of public policies and, in the case of Spain, the sustainable country strategy that has been designed by the Government.