CaixaBank & Siemens Gamesa Sign First Sustainable Factoring Agreement

CaixaBank has signed the first sustainable factoring agreement in Spain with Siemens Gamesa. The operation includes sustainability criteria in the pricing policy of this short-term financing method, in line with both companies' environmental commitment.

The inclusion of ESG (environmental, social and corporate governance) criteria means that Siemens Gamesa will be able to improve the conditions of the factoring that it pays to CaixaBank according to its sustainability rating. For Siemens Gamesa, sustainability is the backbone of its whole business model, which is why it wants to comply with ESG principles in all its decisions, including financial operations. 

Besides signing the sustainable factoring agreement, Siemens Gamesa and CaixaBank have turned its guarantee facility agreement 'green', amounting to €1 billion. Siemens Gamesa uses this facility to carry out its overall manufacturing and selling activity of both onshore and offshore wind turbines, making a positive contribution to the Sustainable Development Goals (SDG), specifically those of  'Affordable and Clean Energy' and 'Climate Action'.