Spanish bank in alliance with ClimateTrade support forestry projects with blockchain technology

Spanish bank in alliance with ClimateTrade support forestry projects with blockchain technology

Banco Sabadell has approved investing in forestry projects supported by blockchain technology in Spain in alliance with ClimateTrade, and certified by the Ministry for the Ecological Transition and Demographic Challenge (MITECO). This was reported by ClimateTrade on its website.

According to what was reported, the Spanish bank approved the compensation of 3,632 tons of CO2 corresponding to its scope 1, 2 and 3 emissions related to business trips, and will carry out three forestry projects located in Parada de Achas (Pontevedra), Laza-Touza (Orense) and the third through a reforestation project as a sustainable forest in the Sierra de Gredos (Ávila), which provides synergies to the Regional Park and the Natura 2000 Network.

In this sense, the Director of Sustainability at Banco Sabadell, Ana Ribalta, highlights that with this initiative, The banking entity continues to make progress in reducing its own CO2 emissions, compensation and the neutrality of all its operations.

“This action is another example of Banco Sabadell’s activity being aligned with the Paris Agreement and is part of the sustainability strategy that focuses, among other things, on our commitment to continue making progress in reducing our own emissions and the neutrality of all our operations. .”

It was also reported that the 2021 emissions compensation adheres to the set of measures that the entity has been implementing to continue reducing its carbon footprint, among them, “the use of renewable energies since 2015, eco-efficiency measures and plans to reduce waste and material consumption (water, paper, plastic)”they explained.

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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.

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