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CBRE and Banco Santander sign agreement for the decarbonization of the real estate sector

A new business collaboration between CBRE and Banco Santander has been announced. Through this collaboration, the bank's clients will have access to strategic environmental consulting services, design, implementation and financing of projects to improve the energy efficiency of their properties.

This new alliance is expected to advance, streamline and facilitate the energy transition and contribute to the decarbonization of the sector. The agreement will start in Spain but could be extended to other markets in the future. Currently, the building stock accounts for 40% of energy consumption, so decarbonization is a priority and we must act quickly.

The bank's clients will be able to receive a strategic consulting service from CBRE to evaluate and diagnose ESG for their homes, in order to identify the most adaptable measures for each home in Spain and thus reduce electricity consumption and, failing that, CO2 emissions.

Clients can also count on a Project Management proposal for the adaptation of buildings in the case of apartments. In this way, they can count on the management of the scope of the improvement works and control of costs and deadlines, in order to obtain an estimate of the reduction of consumption and emissions according to the reforms that can be applied.

For its part, Banco Santander plans to provide the necessary financial support to execute these projects.

Patricia García de Ponga, CFO and Head of ESG at CBRE states that "Designing a solid ESG strategy is now the new normal; corporations are doing it with the objective of making a positive impact on the environment but also to protect the value of their investments".

He adds that "This agreement with a banking institution such as Banco Santander is a clear example of the imperative need to develop innovative formulas to expand decarbonization solutions to all agents of the economy; financial institutions hold the key to accelerate decarbonization and achieve a much greener economy".

On the other hand, José Miguel Alonso de Ozalla, head of Specialized Segments and Green Finance for Companies and SMEs at Santander in Spain, agrees that the agreement is part of the company's sustainable strategy. He adds that "accompanying our clients in their green transition and real estate is one of the most challenging sectors. CBRE has a deep knowledge and offer of integral solutions around sustainability and can help our clients in the decarbonization of their real estate".