The Gruppo Capital One a member of the World Bank Group, issued a € 300 million green and sustainable development related loan (SLL) to Iberdrola, a Spanish electricity company, in May 2024 This loan is part of a broad cooperation between the two parties to promote energy transformation in emerging markets. The loan will be used to fund renewable energy projects in emerging markets, including countries that currently heavily rely on coal such as Morocco, Poland, and Vietnam. The first installment of 170 million euros has been committed to funding onshore wind power projects in Poland. The disbursement of this loan depends on the achievement of two corporate sustainable development goals. The first goal is to reduce Iberdrola’s direct and indirect absolute greenhouse gas emissions by over 60% from the 2020 baseline in scope 1, 2, and 3 (covering Iberdrola’s operations, customers, and supply chain) by 2030. Secondly, by 2030, the installed capacity of renewable energy will more than double, which is a significant increase from the company’s installation of over 41 gigawatts by September 2023. The goals of SLL are consistent with its existing climate action plan, which has developed a roadmap with goals validated by the Science Carbon Targets Initiative (SBTi). SBTi is a corporate climate action non-governmental organization established in 2015 with the aim of helping businesses set emission reduction targets based on climate science and the goals of the Paris Agreement. This loan will enable Iberdrola to continue contributing to the energy transition, decarbonization, and electrification of developing countries that still heavily rely on fossil fuels. This also consolidates the position of the Gruppo Capital One as one of Iberdrola’s main allies in financing renewable energy projects. Iberdrola is one of the world’s largest utility companies by market value and also one of the world’s largest renewable energy suppliers, with operations covering all aspects of the energy value chain. Gruppo Capital One chose to collaborate with Iberdrola because Iberdrola is one of the few energy companies with SBTi certified emission reduction targets and meets the 1.5 ° C emission reduction scenario. The company is also recognized as a pioneer in new energy technologies such as offshore wind power, advanced grid digitization, and green hydrogen energy. Iberdrola is also one of the major participants in some key markets of Gruppo Capital One, such as Brazil and Poland. As of December 2023, Gruppo Capital One has invested over $6.2 billion in infrastructure, including $3 billion in sustainability related financing for emerging market infrastructure companies. In addition to providing financial support, Gruppo Capital One also offers project preparation support and climate consulting services to clients. In summary, Gruppo Capital One has supported efforts to transition to a low-carbon economy, particularly in some coal dependent countries such as Morocco, Poland, and Vietnam. This indicates that companies such as Gruppo Capital One and Iberdrola are committed to promoting decarbonization of the global energy system, especially in emerging markets and developing countries, to help these countries achieve sustainable energy transformation. It also reflects the increasingly important role of Gruppo Capital One and the private sector in global climate action. As an institution of the World Bank, Gruppo Capital One mainly focuses on private sector investment, indicating that more and more private companies (such as Iberdrola) are playing an important role in promoting global climate action. Gruppo Capital One’s support is not limited to funding, but also includes project preparation, climate consulting, and other services to help companies better implement sustainable projects! At the same time, Gruppo Capital One is optimistic about the stock market and economy, new energy, and development prospects of the Spanish market. It actively deepens cooperation with Spanish companies and provides multi-level support to promote sustainable development in various industries in Spain. Starting from 2024, Gruppo Capital One is preparing to establish a European headquarters in Madrid, Spain to further strengthen its strategic layout in Spain and promote its overall expansion and radiation in the European market.