July 7, 2022


Porcelanosa moves toward sustainable financing with BBVA

The two companies have signed a green loan linked to environmental factors to speed up industrial decarbonisation and boost the circular economy, in keeping with the Sustainable Development Goals (SDGs).

BBVA and the Porcelanosa business group have signed a financing agreement to promote sustainable industrial policies and initiatives based on two main indicators: reduced carbon footprint and zero waste generation with a waste recycling ratio of over 95%. "Our top strategic priority is to accompany our customers on the transition to more environmentally-friendly business models", said Carlos Rodríguez Escudero, the director of BBVA's Eastern region.

The financial director of the Porcelanosa Group, Ana Colonques, and the director of BBVA's Eastern region, Carlos Rodríguez Escudero, at the signing of the sustainable loan.

A financial commitment that is consistent with the SDGs

This loan is linked to the Sustainable Development Goals (SDGs) and features a Sustainability Linked Loan (SLL) format. Through it, Porcelanosa wants to enhance its Sustainable Production and Consumption Plan to minimise its environmental impact, reduce carbon dioxide (CO2) emissions and promote a circular economy aimed at recycling and reusing industrial waste to design new products.

This way, the company is continuing to make progress in terms of its ecological transition with new green measures that seek to respond to climate change and to the challenges ahead by upholding efficiency, creativity and researching eco-friendly solutions. Representatives from both companies reiterated this message at the loan signing, which was held on Thursday at the Porcelanosa headquarters and featured Ana Colonques, CFO of the Porcelanosa Group, Jorge Fabregat, Management Systems Coordinator at the Porcelanosa Group, Carlos Rodríguez Escudero, Director of BBVA's Eastern Region, and José Ramón Fragoso, Corporate Director of BBVA's Eastern Region.

"The ecological effort we have been making for years to be self-sufficient in energy and production now takes on a new dimension thanks to BBVA. The support and trust received from the bank encourages us to continue moving towards sustainability with a new business strategy that seeks to reduce our carbon footprint and to use clean energy so that we can continue growing in a way that is fair and responsible. This shared vision between the two parties is what we will convey to each of our companies. And we will do so by professionalising our services while at the same time providing new employment opportunities linked to industrial entrepreneurship, innovation and the green economy", said Ana Colonques, the Porcelanosa Group's financial director.

Porcelanosa's sustainable management is evidenced by its Zero Waste Certification (awarded by SGS), which confirms that over 99% of the waste generated in its production facilities is recycled and reused in other industrial processes, thus putting an end to landfilling.

From right to left: Jorge Fabregat (Management Systems Coordinator at the Porcelanosa Group), José Ramón Fragoso (Corporate Director of BBVA's Eastern Region), Ana Colonques (CFO of the Porcelanosa Group), Carlos Rodríguez Escudero (Director of BBVA's Eastern Region) and José Vicente Salvador (Treasury Manager at the Porcelanosa Group) at the Porcelanosa Group headquarters.

Porcelanosa's sustainable model

The Porcelanosa Group is a business holding company specialising in the comprehensive design and management of technical solutions for the residential, hotel and retail sectors. Consisting of seven companies and a network of sales outlets that reaches 1,082 centres in 134 countries, this Spanish multinational manufacturer of ceramic products, bathroom and kitchen fixtures and ventilated wall systems has redirected its business and distribution model towards sustainable development policies to decarbonise its industrial activity.

All these initiatives are part of its Sustainable Production and Consumption Plan, which includes wastewater treatment (Zero Discharge Programme), the control and reduction of CO2 emissions, cogeneration (more than 30% of its electricity is self-generated), recycling and reusing industrial waste (Zero Waste Certificate), research into green hydrogen and clean energy production.

In order to accelerate its ecological transition, the company has increased its green investments and automated its industrial processes with new technologies and renewable energies, such as wind (guaranteed since 2018) and solar.

Aerial view of the main facility of the PORCELANOSA Group in Vila-real (Castellón).

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