The third vice president and minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, asked this Monday the financial sector to accelerate the adoption of sustainable agendas in the face of the impact of climate change.

“Climate change is (…) a material event for climate change,” said Ribera during his speech at an event organized by the Financial Initiative of the United Nations Environment Program (UNEP FI).

In this sense, the vice president has indicated that it is necessary to “accelerate” actions to promote the sustainable financing agenda and has indicated that the European financial sector must “position itself” to lead the “wave” of ‘green’ investments.

Likewise, it has asked financial institutions to “assume” the carbon impact of their credit portfolios and has indicated that the authorities expect “high commitment, high involvement and high speed” from them.