BBVA partners with Fifth Wall Climate Fund to invest in technologies to decarbonize the real estate industry.
ENPNewswire-August 8, 2022--BBVA partners with Fifth Wall Climate Fund to invest in technologies to decarbonize the real estate industry
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Release date- 05082022 - BBVA and US venture capital firm Fifth Wall, are joining forces to invest in technologies that address climate change in the real estate and construction industries, which make up 40% of the global total carbon dioxide emissions.
Through Fifth Wall's Climate Fund, BBVA will invest in companies seeking decarbonization solutions that address the entire lifecycle of buildings.
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'Fifth Wall Climate Fund invests in companies and startups that develop innovative technologies and solutions to reduce carbon emissions from construction and real estate. This goal is fully aligned with BBVA's sustainability strategy: to support the transformation and transition of the most emission-intensive industries,' said Javier Rodriguez Soler, the Global Head of the Sustainability Area.
'As the real estate industry's contributions to climate change come to light, it's critical that stakeholders from across the globe come together in order to achieve a more sustainable future. We are thrilled that BBVA has taken a leadership position in climate through its commitment to Fifth Wall's Climate Fund and we look forward to introducing the company to critical decarbonization technologies that can advance its sustainability priorities,' said Brendan Wallace, Co-Founder & Managing Partner, Fifth Wall.
BBVA aims to obtain valuable lessons that help the bank learn firsthand about the most disruptive technologies to fight global warming
Apart from profitability according to the risk of this kind of investments, by investing in the Climate Fund, BBVA aims to obtain valuable lessons that help the bank learn firsthand about the most disruptive technologies to fight global warming, while also gaining exposure to the business opportunity that investing in climate tech presents.
BBVA wants to lead the financing of the development of these new technologies. Being a pioneer will allow it to acquire distinctive knowledge on the business opportunity and the risks, and to offer unique advice to its clients.
The entire construction value chain, which includes materials (extraction, production, transportation); construction (logistics, supplies, suppliers, installers); operation (building maintenance, efficiency, water and electricity...
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