Banking

IIDMA urges to facilitate the constitution of energy communities

The International Institute for Law and Environment (IIDMA) publishes the ‘Legal Guide for the constitution of energy communities in Spain’ in which it describes the steps to follow for their constitutions and identifies all available legal options. Until the legal regime for energy communities is transposed into Spanish law, it is essential to provide legal …

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Major Spanish banks fail to comply with their obligation to report on the environmental impact of their financial activities

IIDMA warns that banks’ Non-Financial Information Statements do not contain the information they are required to report by law. This data is essential in identifying which players in the banking sector support a real decarbonization of the economy, in line the objectives of the Paris Agreement. Between 2016 and 2020, the top 60 banks across …

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Spanish banks must urgently stop financing oil and gas projects

BBVA and Banco Santander’s new commitments regarding thermal coal is a step in the right direction, but it is imperative they stop financing other fossil fuel projects that are incompatible with the Paris Agreement. Madrid, November 11, 2021 – Decarbonizing the economy is an essential step towards limiting the increasing of our global temperature to …

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