AkzoNobel’s Vehicle Refinishes has signed a collaboration agreement with Banco Bilbao Vizcaya Argentaria (BBVA) to provide Sustainable Repair Network partners with customized financial products to help accelerate their transition towards more sustainable body shop operations.
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 body shops 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.
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.”
Marina Andrés, Head of Global Transaction Banking Advisory at BBVA, adds that they are excited to partner with AkzoNobel in such a significant initiative, saying, “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.