11 March 2025
BBVA teams with AkzoNobel Vehicle Refinishes to accelerate decarbonization of the Sustainable Repair Network
BBVA Corporate & Investment Banking (CIB) has signed a collaboration agreement with AkzoNobel Vehicle Refinishes to accelerate the net-zero emissions strategies for the Sustainable Repair Network partners, further advancing its commitment to sustainability.
AkzoNobel Vehicle Refinishes has signed a collaboration agreement with BBVA to provide Sustainable Repair Network partners with customized financial products to help accelerate their transition towards more sustainable bodyshop operations. This network is AkzoNobel’s program, designed to assist its customers in becoming more sustainable and efficient by offering products, services, and tools that make a measurable impact on reducing the carbon footprint of body shops.
AkzoNobel’s certified Sustainable Repair Network partners in Spain will benefit from BBVA’s tailored approach to investments in sustainable technologies with attractive terms to support both capital expenditure (CAPEX) and operating expenditure (OPEX) needs.
Through AkzoNobel’s Energy Pulse assessment, partners can identify key opportunities to reduce CO₂ emissions and unlock access to a range of financing options to modernize their bodyshops and achieve even greater energy efficiencies. This includes the installation of LED lighting, solar panels, or investing in new technology for their refinishing operations, such as AkzoNobel’s ColorMatchic, PaintPerformAir, and more.
A strategic step toward sustainability
Josep Guiro, Regional Commercial Leader at AkzoNobel Vehicle Refinishes, says that the collaboration agreement with BBVA will help businesses to make meaningful changes: “This partnership is a strategic step in supporting customers’ transition to more sustainable practices. By integrating financial services into the sustainable repair journey, we’re making it easier for bodyshops to modernize their operations and reduce their carbon footprints, which aligns with AkzoNobel’s broader commitment to sustainability.”
Commitment to competitiveness and sustainability
Marina Andrés, Head of Global Transaction Banking Advisory at BBVA, added: "Our collaboration agreement is designed to empower AkzoNobel’s commercial clients to invest in sustainability and enhance their competitiveness, while enjoying the convenience of a single, trusted financial partner".
While the partnership is currently exclusive to Spain, it underscores AkzoNobel’s ongoing commitment to promoting sustainability across the EMEA region. Access to sustainability linked funding is key to helping Sustainable Repair Network partners to invest in energy-efficient technologies, reduce operating costs, comply with environmental regulations, and meet growing consumer demand for sustainable practices. The collaboration further strengthens AkzoNobel’s position as a trusted partner in the automotive refinish industry, offering not just products, but complete solutions for sustainability.
At the same time, this initiative represents another milestone in BBVA’s commitment to sustainability and the promotion of innovative financial models that support the transition to a low-carbon economy, aligned with national and European climate goals. BBVA recently set a new sustainable business target of €700 billion for the period 2025 to 2029, doubling its previous target, which it had already achieved by December 2024—one year ahead of schedule.