International. BBVA has signed a €68 million green loan with Gmp, the first loan of its kind in the Socimis/Reits sector in Spain. The operation is aimed at financing the emblematic Castellana 77 building, whose recent rehabilitation positions it as one of the most sustainable in AZCA, a very attractive office area in the capital of Madrid.
Gmp is the first Spanish Socimi to obtain green certification for one of its loans. Gmp is firmly committed to maximizing the sustainability of its buildings, which has led it to obtain LEED certification in 80% of its asset portfolio. This green loan that it has recently signed with BBVA is another example of its commitment to sustainability not only in the management of high-quality assets but also in its financing.
For a loan signed between a bank and a third party to be considered a green loan, it must be aimed at promoting environmental sustainability and be qualified as such by an environmental consultant. In this case, it has been the consultancy Arup that has certified this operation as green in accordance with the 'Green Loan Principles'.
The purpose of this green loan is to finance the emblematic Castellana 77 building that, together with Castellana 81, also owned by Gmp, have significantly boosted sustainability in the financial heart of Madrid after its recent rehabilitations.
This 'green loan' reflects the commitment of both institutions to sustainability and the commitment to socially responsible projects.
In line with the European Commission's Action Plan on Sustainable Finance, BBVA recently announced its Commitment 2025, the Bank's climate change and sustainable development strategy to advance the achievement of the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change.
It is an eight-year commitment (2018-2025) based on three pillars: finance, manage and involve. BBVA is committed to mobilizing €100 billion in green and social financing, sustainable infrastructure and agribusiness, social entrepreneurship and financial inclusion.
In its commitment to manage environmental and social resources and minimize potential direct and indirect negative impacts, BBVA has set a goal that by 2025 70% of the energy it uses will be renewable and reduce its direct CO2 emissions by 68% compared to 2015.
In addition, BBVA is committed to involving all its stakeholders to promote the contribution of the financial sector to sustainable development.
Gmp commitment to sustainability and people's health and well-being
Gmp's commitment to environmental sustainability and energy efficiency as a strategic pillar of the Company has been endorsed by the LEED certification of the majority of its portfolio over the last three years. In fact, its emblematic Castellana 81 building is the first LEED platinum building on paseo de la Castellana and its new development, the oxxeo building, has also recently achieved the highest possible distinction granted by the U.S. Green Building Council (USGBC).
Additionally, it is the only Spanish real estate company with an Integrated Quality, Environment and PRL Management System certified according to the UNE-EN-ISO 9001:2015 UNE-EN-ISO 14001:2015 and OHSAS 18001:2007 Standards.
Beyond environmental sustainability, Gmp has positioned itself as the pioneer real estate company in Spain committed to the well-being and health of the occupants of its buildings. In this sense, Castellana 81 is the first WELL building in Spain and the fifth in Europe to obtain the WELL Building Standard Gold certification in the Core & Shell category.
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