Internationalizing a company is a real lever for growth. Go to the foreign market, keeping in mind the sustainability can increase the chances of success of any business. And it is that, as explained by Regina Palla, COFIDES Deputy Director of Sustainability and Impact in the Internationalization and Sustainability webinar hosted by Banco Sabadell’s HUB Empresa, “Organizations should use sustainability as a tool for their internationalization”.

“Sustainability is the main challenge of the coming decades and must be adopted by all countries and by all social and business agents,” said Ricardo Santamaría, director of country risk and debt management at CESCE, who also participates in the webinar† Therefore, he adds, “all projects focused on sustainability will have financing facilities.”

“All projects focused on sustainability have financing facilities”, Santamaría, CESCE

Sustainable business in the EU

In this sense, the challenge is “to internationalize a company through investments that make growth and profitability compatible with respect for the natural and social environment,” said Carlos Dalmau, Director of International Solutions at Banco Sabadell in the presentation of webinar

In order to do business across borders, regulation is one of the most important aspects that companies need to analyze. The European Union (EU) has a clear strategy centered on environmental and social criteria, which is shared by most developed countries.

So “if a company is going to internationalize in the EU, it is necessary to familiarize yourself with its taxonomy, because in addition it is likely to become a global standard,” says Palla. In fact, it is already a highly applied regulation in Ibero-America and in Africa.

Low-carbon productive activities and projects to mitigate climate change are considered sustainable

This community taxonomy assesses which activities are considered sustainable and which are not. For this reason, it is advisable to go to international markets knowing how business activities are typified.

Palla emphasizes that all those low-carbon productive activities and projects to mitigate climate change are considered sustainable. “It is therefore advisable to have a professional within the company who is an expert in this taxonomy,” he adds.

In addition to complying with the regulations of the region where business is conducted, it is critical to consider how the necessary financing will be obtained to internationalize the business.

The financial sector is the one that will demand that organizations have policies that guarantee the management of social and environmental risks. That is, “it will be the… swimming pool from financiers who will measure the sustainability of the investment made”, explains the deputy director of sustainability and impact at COFIDES.

What challenges does the global economy face?

In addition to sustainability, Santamaría points to the rivalry between China and the United States (US) as one of the main challenges facing the global economy, as it has become the vector of international relations.

In this scenario of regulatory change, the EU’s backbone is the European Fund Next Generation EU, which has a long-term vocation as an instrument to finance the changes facing the Union.

The Country Risk and Debt Management Director at CESCE also points to the risk of aging and its impact on sustainability as one of the challenges facing the global economy.

Likewise, he asks not to lose sight of inflation, changes in monetary policy and the high debt burden of some areas.

However, Santamaría points out that there are important opportunities to do business abroad. “Community markets are going to make significant investments, as are the US and Canada and developing regions,” he says.

This expert also focuses on investments in energy. “As countries get closer to achieving carbon neutrality, carbon-intensive activities will be banned outright,” he concludes.

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