BBVA, a leading Spanish multinational financial services company, and global investment firm KKR have entered into a strategic partnership aimed at accelerating the decarbonisation of the economy. As part of this collaboration, BBVA has committed $200 million to KKR’s Global Climate Strategy, which focuses on large-scale investments to support the transition to a low-carbon economy. The partnership was announced during Climate Week, currently taking place in New York.
This new alliance will focus on identifying climate infrastructure investment opportunities, particularly those that facilitate the energy transition and electrification. Both BBVA and KKR aim to leverage their respective strengths, share knowledge, and work toward their mutual goal of advancing the global energy transition.
“We are confident that the second part of this decade will see strong growth of new low carbon infrastructures. It is an immense opportunity. Our goal is to become a leader in deploying advisory and financing to support our clients in US and Europe sectors like Energy, Construction, Mobility and others in building the infrastructures of the future. This ambitious partnership with KKR will be a key piece of our sustainability strategy,” said the Global Head of Sustainability and CIB at BBVA, Javier Rodríguez Soler.
He added, “To address the major decarbonisation projects that the world needs, leading global investors and financial institutions must play a key role. Large asset managers and international banks are necessary to finance this transition and support all sectors on their respective decarbonization paths in an orderly manner. With KKR’s proven experience in this area, we will share knowledge across our teams, capabilities and efforts in this strategic alliance in order to multiply investments in infrastructure and climate projects.”
Emmanuel Lagarrigue and Charlie Gailliot, Co-Head of KKR´s Global Climate Strategy said, “We are still in the early innings of what will be a multi-decade transition to net zero, which is one of the biggest investment opportunities of our time and requires participation from across the financial sector. We are delighted to collaborate with BBVA given their industry-leading presence within the renewables sector and their deep commitment to mitigating the impacts of climate change.”
