Margarita Delgado: Closing remarks - 7th ICO Sustainable Bond Forum

Closing remarks by Ms Margarita Delgado, Deputy Governor of the Bank of Spain, at the 7th ICO Sustainable Bond Forum, Madrid, 8 June 2023.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
08 June 2023

First of all, thank you for the invitation to participate in this 7th ICO Sustainable Bond Market conference. I am sure that the various panels have addressed recent developments in social and green bonds and the latest innovative approaches in sustainable finance.

It would be interesting to take a look at the conclusions of the first edition of this conference to see just how much progress has been made in this market; huge strides for sure. For example, through the development of new instruments to mobilise the financial resources needed to achieve a net-zero economy and the goals set by the Paris Agreement. However, I am convinced we would also find that some of the challenges are still with us today, probably including the ones I am going mention in this address.

Recent evolution of sustainable bond markets

Developments in sustainable finance markets have been very significant. In recent years we have seen a surge in new bonds and instruments.