BBVA, a leading financial institution in ESG, has joined Suma Capital to expand its track record and expertise in responsible investments. To do so, it will invest €300m in Suma Capital’s third sustainable infrastructure fund, SC Climate Impact Fund III.
BBVA's investment will focus upon the energy transition, circular economy and waste management for the production of biogas and biomethane.
The investment enables BBVA to access the deal flow of energy services and sustainable energy production companies in Spain via Suma Capital.
The company said the investment also encourages high learning potential from its firm, which it described as a benchmark in the field of responsible investments.
This learning process is boosted by direct access to both Suma's investment team and the companies in its portfolio, added BBVA.
The investment sees BBVA joining other Spanis and European institutional investors participating in the SC Climate Impact Fund III.
In terms of geographic scope, Suma Capital expects investments in Spain to represent 50-70% of total commitments, with the remainder in Europe (mainly France, Germany, Italy and the UK).
Enrique Tombas, chairman and founding partner of Suma Capital, said that “working hand in hand with BBVA, a leader in ESG in the banking sector, is an exceptional opportunity to promote our common investment strategy and move towards a more sustainable future.
"Suma Capital is committed to working closely with the BBVA team, sharing knowledge and experience to maximise the positive impact of our joint investments in sustainable infrastructure. We are excited to embark on this new project and are confident that this alliance will lead us to achieve even more significant and transformative results for society and the planet.”
Javier Rodríguez Soler, BBVA’s global head of sustainability, added that “for BBVA, sustainability is a business opportunity and this investment is part of our global sustainability strategy and, specifically, investment in climate funds. These funds generate an attractive risk-adjusted financial return and will allow BBVA to learn in this environment and become a benchmark in the financing of these technologies.”
BBVA invests €300m in Suma Capital’s third infrastructure fund
