Yesterday, 16 November, FINRESP presented the Financial Sector Social Report at an event entitled The financial sector, addressing the challenge of sustainable finance", where Jerusalem Hernández, Sustainability and Good Governance partner at KPMG España, presented the most important data and conclusions drawn from the report itself. In addition, the conference featured an interesting discussion on the socio-economic impact of the sustainable transition between José María Méndez, Chairman of FINRESP, and Antón Costas, Chairman of the Economic and Social Council.

Data from the Report that were highlighted at the conference included the positive signs displayed by financial institutions as "economic dynamisers and value generators by managing a total of €5.3 trillion from individuals and companies in different savings, insurance and investment instruments last year". It also reported the "granting of nearly €482 billion of new financing to households and businesses last year, 16.4% more than in 2021. Specifically, 36% of new financing was allocated to SMEs, and more than 460,000 residential mortgages were granted, accounting for more than 70% of all home purchase and sale transactions in Spain".

Currently, the financial sector is ranked first in the generation of quality employment and FINRESP's founding associations, including CECA, have generated more than 210,000 jobs, 92.8% of which are permanent contracts.

As stated by FINRESP, "A clear example of this is that 52.3% of the professionals are women, registering a better performance in equality than the national average (46.4%). In addition, 25% of the members of the governing bodies are women, four points higher than in 2021". A clear sign that the financial industry is 100% committed to equality, inclusion and diversity among its employees.

During the debate, Antón Costas stressed in his intervention that "finance is the bridge between the present and the future. It plays a key role among savers and investors. Without finance, a country is poorer. Today the two major challenges of capitalism are social inclusion and climate change. Sustainable finance is an essential lever to address these two challenges".

For his part, our CEO and Chairman of Finresp, José María Méndez, concluded that "we are witnessing a structural transformation of the global economy, moving together towards a productive model that is compatible with the preservation of the environment, and firmly committed to society and good governance. The financial system has a key role to play in this shared objective: directing capital flows towards sustainable activities. Our sector is therefore an essential catalyst for this transformation. And the report we are publishing today is evidence of this".