The 16th Annual Event of Spainsif, held in person at the EY Dome in Madrid and streamed online, gathered more than 300 professionals and experts in sustainable finance and investment. The event, sponsored by EY, Nordea AM, and S&P Global Ratings, took place in a context defined by the ongoing revision of the European regulatory framework on sustainable finance, as well as by a complex economic and geopolitical environment — all of which add new dimensions to the consolidation of the sustainable investment market in Spain.
The session opened with institutional remarks from Alberto Castilla, Partner for Sustainability at EY Spain, and Pablo Esteban, Deputy General Manager of Spainsif, who highlighted the association’s role as a plural platform that, since 2009, has brought together the key actors in sustainable finance in Spain while fostering consensus.
Esteban stated: “We are at a decisive moment of regulatory review, geopolitical uncertainty, and growing social pressure — one that is increasingly demanding, yet also more mature, technical, and collaborative. In this context, the international interoperability of sustainability frameworks will be key to achieving coherence, comparability, and trust in the system. This is precisely where Spainsif strengthens its role as a multistakeholder meeting point, connecting theory, practice, and regulation.”
According to Alberto Castilla, Sustainability Partner at EY, “The Spanish sustainable finance ecosystem has reached a stage of maturity — in Spain and across Europe — that requires coherence between regulation, impact measurement, and investor education. Only with interoperable and comparable frameworks providing high-quality data from a wide range of companies will we be able to generate the trust needed for sustainability to become a structural pillar of the financial market.”
Rodrigo Buenaventura, Secretary General of the International Organization of Securities Commissions (IOSCO), delivered a keynote address on the international interoperability of sustainable finance frameworks. This was followed by a panel discussion titled “Sustainable Finance in Times of Change”, moderated by Patricia Suárez (Asufin), Vice-Chair of Spainsif’s Nonprofit Entities Group, and featuring Mario Delgado (EY), César Rico (Nordea Asset Management), and Luis Solís Fernández-Gil (S&P Global Ratings).
The panel explored key issues shaping the future of sustainable finance — from value creation and the genuine prioritization of sustainability within financial institutions, to evolving investor appetite in areas such as biodiversity and private markets. Participants also discussed how engagement with companies and the energy transition can translate into tangible value for investors, the need to improve the assessment of climate risks, and the development of sustainability-linked debt in international markets.
Antonio Royo-Villanova, ESG Specialist at DWS Iberia, introduced the Annual Study on the Evolution of Sustainable and Responsible Investment in Spain, sponsored by DWS since 2021. This report monitors market practices based on data collected from surveyed institutions over the past decade. It reveals a stabilization of assets under management following ESG criteria in Spain, alongside a rise in impact-driven strategies, while identifying persistent challenges — particularly regarding standardization, data quality, and the responsiveness of retail investors to sustainability suitability tests.
Representatives of Spainsif’s vice presidencies — including José Luis Garzón (ECB), Clemen Epalza (Fonditel), Irene Rodríguez (BME), and Mario Sánchez (CCOO) — presented and discussed the detailed findings. Their discussion addressed diverse issues, such as sustainable investment strategies in sensitive industries and regions (including defense and armaments), advanced stewardship approaches like Split Stewardship, key engagement themes such as climate, biodiversity, human and labor rights, gender equality, and the integration of ESG issues at the organizational level, particularly as competitiveness becomes a central topic in regulatory simplification debates.
The event concluded with a keynote by Ana Puente Pérez, Deputy Director General for Sustainable and Digital Finance at the Spanish Treasury and Financing Department of the Ministry of Economy, Trade and Enterprise, who emphasized:“It is essential to strengthen the resilience and competitiveness of our companies — particularly SMEs — to address climate and environmental risks.”
She added that the Sustainable Finance Council, which brings together public, financial, corporate, labor, and third-sector stakeholders, is working to support companies through this transition and to ensure access to financial resources necessary to fund green and climate-related investments.
Spainsif is a nonprofit association comprised of organizations committed to promoting Socially Responsible Investment (SRI) in Spain. It serves as a platform that brings together financial institutions, insurance companies, asset managers, service providers, universities, business schools, nonprofit organizations, and trade unions. Founded in 2009, Spainsif currently has 111 member entities and plays a leading role in fostering dialogue, research, and best practices in sustainable and responsible investment across the Spanish market.
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