The Power of Incentives in the Emerging Markets

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There's been a lot of talk in Europe about trying to sort of replicate or compete with the IRA. Do you think they'll be able to do it? The approach has been different, but Europe has a long, long standing trajectory of having this in the agenda as a major priority. Now we can also learn in Europe, I believe, from what the US has done. It is quite technology neutral. So it's across a variety of technologies that you can get the incentive if you do the carbonize.

The low-carbon transition will require some major innovations, a rapid buildout of existing technologies, and significantly more financing, the recently released synthesis report of the Intergovernmental Panel on Climate Change (IPCC) states.

In this episode of the ESG Insider podcast, we sit down for an interview with BBVA Chair Carlos Torres Vila to learn how one of the largest banks in Spain and Mexico is approaching the transition.

Carlos talks about steps BBVA is taking to lower the carbon profile of its portfolio in sectors high in emissions intensity. He explains how the bank is mobilizing capital for the low-carbon transition. And he tells us that the right economic incentives will help unlock the innovation needed to advance the transition.

Listen to our episode about S&P Global CERAWeek here: https://www.spglobal.com/esg/podcasts/on-the-ground-at-ceraweek-where-the-energy-world-stands-on-the-low-carbon-transition

Photo source: BBVA

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