The Principles for Responsible Investment sponsored by the United Nations have the following objectives:

• To incorporate environmental, social and corporate governance (ESG) issues into investment analysis and decision-making processes

• To incorporate these three issues into ownership policies and practices

• To strengthen appropriate disclosure on these issues by the entities in which investments are made

• To promote acceptance and implementation of the Principles within the investment industry

• To work together to enhance effectiveness in implementing the Principles

• To report on activities and progress towards implementing the Principles and making them more effective

The event, the first of its kind in Spain, highlighted the benefits for the Spanish financial market of global growth in responsible investment. At the same time, it was stressed that Spanish investors and companies are turning towards the challenge of sustainability. There was also discussion about how responsible investment could help prevent another financial crisis.   

Also participating at the event were Juan de la Mota, president of the Spanish Network for the United Nations Global Compact and Elliot Frankal, Communications Manager of the Principles for Responsible Investment (PRI).

Juan de la Mota explained that global investors are redefining their investment tools, strategies and models to adjust them to new realities such as climate change and population growth. “It is vital that Spanish investors should not lose touch with this trend. The rapid growth of initiatives such as the PRI and the Ecuador Principles is demonstrating the growing importance given by capital markets to social, environmental and corporate governance subjects," he said. De la Mota added that this is good news for companies that take sustainability seriously.

The PRI representative, Elliot Frankal, said that “When they ask me whether responsible investment is relevant in a recession, particularly in a country such as Spain, where the economy has particularly suffered, my answer is clearly yes.” Frankal added that “If the world wants to prevent the repetition of the damage caused by a financial crisis, we have to construct more sustainable capital markets. Modern responsible investment has a major role to play in achieving this goal."  Frankal thought that responsible investment means “a profound analysis of a wide range of social and environmental risks, a more proactive approach towards corporate governance, and greater transparency and responsibility, both in investor transactions and in those of the companies in which they invest.” In fact, one of the causes of financial crises, he suggested, is "the lack of corporate governance and the risks that managers have taken in some of the biggest financial institutions in the world.”

Elliot Frankal added that the Spanish market “is one of the biggest markets in the world and I hope that this event can be a turning point for Spain to become a true leader in responsible investment."

BBVA has taken a leading role in the milestones developing Socially Responsible Investment (SRI) in Spain. In February 2008, the pension fund of the BBVA Spain employees became the first employee pension scheme to be fully managed using SRI criteria. BBVA was also the first Spanish entity to subscribe the Principles for Responsible Investment (PRI) as a pension fund and as a Pension Fund Manager (PFM).

With this initiative, BBVA once more shows its commitment to promoting SRI in Spain and takes up a position alongside the main employment funds and asset managers at a global level.

Others in Spain who have joined the PRI initiative apart from BBVA include the Cajasol Empleados pension fund, Arcano and Novaster, who also participated in this event and outlined their best practices and experiences in the field.

Annexed files:

• Agenda

To download the Presentations, click here

"BBVA promotes the UN Principles for Responsible Investment", on the BBVA TV CR Channel. Watch video