The fiscal year 2022 was characterized by the following: Difficulties associated with the war between Russia and Ukraine, and the economic environment characterized by inflation and high interest rates, This has sparked growing controversy among some sectors and political spectrums regarding the scope and evaluation of sustainable financing. Despite the circumstances, Progress has been made on the obligations of asset owners and managers, Accompanied by the dissemination of sustainable finance regulation in aspects such as requirements related to the disclosure and marketing of financial products with sustainability characteristics and international cooperation in standards. Reports preparation.
The mix and presence of sustainable investment strategies It is still more developed in the Spanish marketin line with previous versions of the study that were presented this year at the conference spainsif Annual Meeting 2023, Sponsored JPMorgan Asset Management, EY, Morningstar, and Fidus, Which was held in Madrid at the EY Dome With the help of more than 200 people, 120 in person and 80 online.
Joaquin Garalda, President of Spainsif, During the institutional opening, he expressed his thanks for the commitment of Spainsif member entities to promoting dialogue and working towards a financial sector that accelerates and facilitates the achievement of sustainability goals. He also expressed his thanks to the authorities for the effort they devote annually to answering the questionnaires, given the importance of the report presented today in analyzing and evaluating the development of sustainable investment in Spain.
For this part, Alberto Castilla, EMEA ESG Solutions Leader and Sustainability and ESG Partner at EY Spain commented: “Sustainable investment and ESG issues are one of the dimensions that has evolved most rapidly in recent years in business management. Today, In addition to commitment, organizations must have the vision and capabilities to understand their impact on entity evaluation and confront transformation decisively.
Study presented during the event It was prepared from 60 responses received to the questionnaire based on the Eurosif methodology, 33 responses from national entities and 27 responses from asset managers and owners. international. Strategies for active dialogue and exercising the right to vote have witnessed significant increases since the last studies and were reinforced in the 2022 data as being the most widespread among the practices of the entities that make up the sample, reaching 202,137 million euros, followed by environmental, social and institutional integration (105,686 million euros) and positive screening strategies (28,997 million euros). .
Mariano Arenillas, President of DWS Iberia, The annual study Spainsif 2023 has highlighted “It carries out the most precise analysis of the evolution of sustainable investments in Spain, and puts on the table a series of conclusions that serve as a guide so that the industry can advance in the development of these investments, in the context of an increasing demand for transparency by the segment of clients and an increase in regulatory requirements. During the show, Andrea Gonzalez, General Manager of SpainsifI have investigated the complementary nature of the study in relation to different approaches to sustainable investing that emerge from European regulatory pieces, and developed a methodological shift for future editions that will consider dual materiality approaches, impact evidence or investor aspiration scores, among others.
Helena Vince, Consultant in CNMV And the president European Commission Sustainable Finance Platform, He noted that throughout this year, “financing the transition” has dominated the debate that has focused on how to finance the transition of the most carbon-intensive sectors versus a more comprehensive analysis of how to finance the economy’s transition to carbon neutrality itself. Its entirety. Finnis has looked at how the sustainable finance framework currently addresses the subset of transitional finance. He also highlighted the importance of interaction and integration between reliable and robust transformation plans, and alignment with the classification of investments in fixed assets or capital expenditures, in addition to absolute greenhouse gas emission targets and reductions. He pointed to many areas that require further depth or improvement, and also shared what the European Sustainable Finance Platform is working on in this regard.
Trends in sustainable finance
The annual event Spainsif 2023 included a specialized presentation on Engagement In cooperation with the Forum for Responsible Investment-FIR. Gregory CostCEO, and Justin ApollonResponsible for dialogue and Engagement From the French SIF, they shared the goals of this initiative, from influencing corporate environmental, social and governance (ESG) practices to driving improvements in sustainability information disclosure.
During the annual Spainsif 2023 event, two roundtables were held aiming at advanced participation and voting practices, and evaluating the results of the market study. Maria Jose GalvezHead of ESG at Heythey ran the table for the “active ownership exercise” in which they participated Elena Domekspecializes in ESG in JP Morgan Asset Management; antonio Santoro, President of Southern Europe WildAnd Clemene IbalzaCEO of Funditel and Vice President of the Spainsif Group of Asset Management Entities.
Next, in Table II, market data from other interest groups representing Spainsif Vice-Presidents are evaluated. Supervised by Gloria Gonzalezthe field of corporate social responsibility and ethical investments Economists Without Borders (ESF) The Vice President of the Non-Profit Entities Group Spainsif participated in the conference Silvia Fernandez de CaliaHead of Corporate Social Responsibility Department Initial coin offering Vice President of the Financial and Insurance Entities Group Spainsif; Marta de la CuestaProfessor of Applied Economics at UNED Vice President of the Spainsif Academic and Service Provider Entity Group; And Andres HerreroSocial security UGT And vice president of the trade union group Spainsif.
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