Francisco González: “We need to reimagine the role of banking”

Francisco González also stressed that 'we need to build balanced long-term relationships with our customers and other stakeholders, based on extreme transparency and avoiding conflicts of interest.'

In his address he also explained that 'banks need to harness the possibilities enabled by new technologies to offer universal access to financial services, help people make the best financial decisions and promote their financial health.'

And finally, he believes that 'banks need to help customers drive sustainable development and transition towards a low-carbon economy.'

BBVA wants to be a catalyst of this change and is taking part in the initiative promoted by the United Nations to define a set of Responsible Banking or Sustainable Banking Principles, together with 24 banks from the five continents, in line with the Responsible Investment Principles or the Sustainable Insurance Principles for insurance companies set out five years ago.

According to BBVA's Group Executive Chairman, 'these Responsible Banking Principles, which we expect to be able to announce by year end, will define the standards and the accountability model of this new banking sector.'

In his opinion, 'we all, public institutions and the private sector, need to come together to take on this major challenge we are facing.' For Francisco González 'we all strive to ensure that the organizations we lead connect with the real needs of people and society as a whole. This is our responsibility to future generations,' he emphasized, by way of conclusion.

Download here Francisco González's speech at the BBVA Sustainable Finance Forum