All posts by Carmen Gomaro

Carmen Gomaro - leading international news and investigative reporter. Worked at various media outlets in Spain, Argentina and Colombia, including Diario de Cádiz, CNN+, Telemadrid and EFE.

Barça registers Ricky Rubio in the ACB and the Euroleague

The opportunity for Ricky Rubio to return to basketball with Barça has now been fully realized. On Tuesday, the Barça club officially registered Rubio to play in the ACB and the Euroleague, marking his return to the organization after 12 years and seven months away in the NBA. His NBA career, although filled with talent, didn’t quite meet his expectations, as evidenced by his failure to be selected for an All-Star game despite impressive statistics. Rubio’s NBA journey also came to a halt last August when he took a break for his mental health.

Since then, Rubio has been on a journey of recovery, and he recently began training with Barça. His progress has been promising, and while the club stated that his return to competition won’t be immediate, it’s clear that he’s getting closer to that goal. Initially, Rubio’s contract with Barça will only run until the end of this season.

After starting his basketball career with Joventut, Rubio enjoyed success with Barça, winning several titles including the Euroleague. He has also achieved international success with the Spanish national team, earning two gold medals, two bronzes, and other accolades. As Rubio prepares to return to competition, his presence will undoubtedly strengthen the team’s prospects, especially considering the upcoming Paris tournament.

Xavi, Klopp, Zidane and Guardiola: this is the harsh 'burned coach syndrome'

Xavi Hernández announced by surprise a week ago that he will resign from the FC Barcelona bench on June 30. “It is the best. I had decided a long time ago. “There is no point in continuing,” he said.. A few hours earlier, Liverpool announced that Jürgen Klopp will leave the team, leader of the Premier, after eight years. «I'm running out of energy. “I know I can't do the job again, and again, and again, and again,” the German admitted.. Two unexpected slams reminiscent of Zinedine Zidane's in 2021 at Real Madrid and with speeches similar to the one Pep Guardiola used to say goodbye to Barça in 2012. «Four years is an eternity. The reason is very simple, they wear out a lot,” he said then, after winning two Champions Leagues, three Leagues and two Copas del Rey and marking an era.

The life of a football coach is marked by results, but in these escapes a cause recognizable by sports psychologists is perceived: burnout syndrome or the burned out coach due to “chronic, severe and difficult to manage work stress.” that generates rejection of one's own professional role. «It's like you're near a bonfire. You notice that it burns you and you want to get away quickly,” explains the doctor in Sports Psychology from the University of Murcia, Enrique Garcés de los Fayos.. «There are three phases: emotional exhaustion, which results in a feeling of lack of energy; distancing from sport and reduced personal fulfillment, which makes it no longer attractive to continue working. “It feels like distance is needed,” he explains.

In football, professionals are special, but this syndrome has already emerged on the benches due to the particularity of their work, which is increasingly scrutinized and exposed.. «It is a profession of high emotional tension, where they can do a perfect job on a day-to-day basis and in making decisions, but when the ball starts rolling there is a rival, a context, a referee, an audience, some players with their own emotional and physical states.. There is no control over all that.”. It is explained by Juan Miguel Bernat, sports psychologist and head of the High Performance Psychology department at Levante UD.. He has even fictionalized it in his book Player Nº30. How to develop a high performance mindset.

Workaholics

“Whatever team you are on and whatever you fight for, the tension is very high and there are factors that multiply it,” he warns.. Coaches, according to Bernat, usually have passion, which makes them addicted to work, “with great difficulty in limiting it, and mental health requires moments of disconnection.”. Public exposure does not help: “They are subject to continuous evaluation. There are no times or processes to reach the objectives. It's either you're worth it or you're not worth it. And, furthermore, they do not allow you to disconnect from the errors.

The resources available to carry out the work are not constant and are conditioned by injuries, markets, club finances or sanctions.. “Sometimes the coach himself may perceive that, with what he handles, he cannot respond to what is demanded of him and that surpasses him,” adds Garcés de los Fayos.

However, they can't afford it.. «They feel responsibility for the emotional state of everyone around them. The coach is the leader, we all look at him and feel that they cannot allow themselves to come after a defeat with a dull spirit, without strength, because what must be conveyed is that we must get up, keep pushing…. Players or assistants may be flatter one day, they feel that they do not. And furthermore, they have to be empathetic with the emotional moment of the footballers.. “That tractor effect is exhausting,” adds Bernat.

Experience as a protector

Not even having shone on the grass at the highest level helps to avoid it.. “Being a soldier is not the same as commanding and, furthermore, the pace may have been rapid and the appropriate psychological tools to deal with this stress may not have been acquired,” recalls the Murcian psychologist.. It is easier for Xavi, Zidane or Guardiola, in their first experiences on elite benches, to end up burned out than Ancelotti, “because it has been proven that experience is a protector, like having communication and social skills and a well-developed personality.”

The cocktail of stressors undermines the confidence of technicians. «They have to learn to not judge themselves based on results, but on their behavior and decisions. Two bad results do not make you a bad coach. Each match cannot call into question his ability as a coach but rather his performance in that match,” warns Bernat.

Otherwise, they enter a vicious circle: “sleep disorder, intrusive thoughts, low confidence…. Then it is difficult to make easy and small decisions, they become more addicted to work, they do not disconnect, they do not come to decision-making clear and that affects the quality.. They cannot reverse it and believe that it is better to step aside.. It's like physical fatigue, which cannot be overcome without stopping,” he summarizes.

«It is the technique of marking an end»

This process is understandable when the team does not work, the club trembles and doubts arise, but how is it explained in the sweet moments? It was the case of Guardiola and it is that of Klopp, who says goodbye from the leadership. Bernat has an explanation: “These decisions are not made now, but in a moment of low energy, but it is not the way to leave and they think: I'm going to pick this up and then I'll leave.”. You tell your brain, I won't let you rest now, but in a season you will.. There it gives you a boost of energy, when you see the end of something that you are already aware that you cannot sustain day after day. It is the same effect that Xavi has achieved. To his goodbye, the team has shown a reaction.

«It is the psychological technique of marking an end. The wear and tear is so brutal that the mind needs it. It's like redoing yourself in a marathon. If you don't know that there is a wall at kilometer 35 and you suffer, you leave it, but if you know it, you hold on to reach the goal,” exemplifies the Levante psychologist.

When is burnout overcome? “You have to take a step to the side and not force it,” advises Bernat. «But it doesn't heal itself. It's not enough to run away, you have to work at it. The football coach saw the psychologist as a rival in the technical field, but that is changing and they are increasingly present. Even the coaches have seen that they are not infallible,” says Garcés de los Fayos.

Chaos in El Salvador: they declare the preliminary scrutiny failed and will open the polls to count "vote by vote"

The recent presidential and legislative elections in El Salvador have faced scrutiny from the Supreme Electoral Tribunal. Nayib Bukele, who claimed victory in the elections, has not yet officially been declared the winner. The Tribunal will be opening a significant number of ballot boxes for both the presidential and legislative elections to conduct a thorough vote count. Despite congratulations from several world leaders, the official announcement is still pending. Only 70.25% of the minutes processed have been counted so far, with Bukele receiving a significant lead over his main rival, Manuel ‘El Chino’ Flores. The count for the legislative elections is even lower, with only 5.06% of the minutes being accounted for. The decision to open all the ballot boxes comes in response to complaints about the system for transmitting electoral results. The final count will begin on Tuesday, with digitized and transmitted records being accepted while manual records will be discarded. The Tribunal has cited inconveniences and difficulties in the transmission process for this decision. The disputed ballot boxes will be opened in the presence of various authorities and international observers. Anomalies have been reported, including duplicated results and system errors favoring the ruling party, New Ideas. Opposition groups have labeled the elections as fraudulent and rejected Bukele’s self-proclamation as the winner. They accuse the regime of illegally modifying the electoral system and violating legal provisions during the campaign.

If the 'king of German literature' would raise his head…

If the German poet and playwright Johann Wolfgang von Goethe were to come back to life, he would surely request a new house and a different burial. This desire stems from Goethe’s belief, as described by his biographers, that brain volume is linked to intelligence. As a result, he specifically requested to be buried alongside another intellectual giant, Schiller. However, fulfilling this wish proved to be a complex task as Schiller had already passed away, and his remains were buried in a mass grave, making it impossible to identify them. In an attempt to honor Goethe’s wish, authorities selected the largest and most impressive skull, assuming it belonged to Schiller. However, centuries later, genetic analysis revealed that the chosen skull was not Schiller’s, leading to the unsettling realization that Goethe had been buried beside the wrong person.

Interestingly, if Goethe were alive today, he would probably not be surprised to learn that brain size does not necessarily correlate with intelligence. Such scientific understanding has progressed over the years, evident in the state of his dilapidated house-museum.

Following Goethe’s death, his family retained ownership of the house. It was only in 1885 that it became public property and, subsequently, opened to the public, attracting mainly cultured and devoted admirers. While not all aspects of the house could be preserved exactly as they were during Goethe’s time, his burial chamber, study, and library remain intact as he left them in March 1832. Despite the turbulent events of the 20th century, which did not inflict major damage on the house, it has suffered from overall deterioration.

To address this issue, sanitation plans have been put in place, with renovation work scheduled to commence in 2026 and expected to last at least three years. According to the authorities, the extended timeframe is due to the complexity of the project. However, it is no secret that Germany tends to face bureaucratic hurdles and complications when it comes to carrying out large-scale renovations.

The estimated cost of the renovation is approximately 45 million euros, with funds to be allocated over a period of just under 10 years. The federal state of Thuringia, where the city of Weimar is located, has agreed to contribute 17.5 million euros, while 10 million euros will come from foundations and donations. The remaining 17.5 million euros will be requested from the federal budget, pending approval from the Bundestag. Prominent figures, such as Claudia Roth, the head of Culture in Chancellor Olaf Scholz’s coalition, have voiced their support for the renovation, but emphasize that the final decision lies with the responsible members of the German Bundestag.

Roth has expressed her support, stating that she would “naturally welcome it if the Budget Committee could provide a subsidy for the renovation of the Goethe House in Weimar. However, the ultimate decision on this matter rests with the responsible members of the German Bundestag.” In her statement, Roth highlights the significant importance of the Klassik-Stiftung Weimar to the Ministry of Culture and emphasizes the substantial federal funding already allocated to the foundation, amounting to 14 million euros annually for its operational expenses. Ultimately, the fate of Goethe and his house lies in the hands of political decision-makers, drawing parallels to the themes explored in Goethe’s masterpiece, Faust.

Samuel Eto'o's plot: 20 years for another Cup final in Mallorca

Sergio Campoy is 48 years old and Mallorcanism in his veins. He belongs to the club of vermilion fans who have seen his team travel through the Olympus of football: he has been in the three Copa del Rey finals that RCD Mallorca has played in 107 years of history. He was at the Bernabéu in 1991, when they were “a clear minority in the stands” and, despite losing to Atlético de Madrid, they sowed “the seed of everything that would come later”. He was in Valencia in 1998, suffering against Barça. And he was, of course, at the Martínez Valero in Elche in 2003, in that dream final, the third, the charm, the epic of all epics for the club of his life.

20 years (and a half) have passed since that milestone and Campoy, like all Mallorcanism, cannot help but feel the vertigo today at having another final close at hand, with the feverish gaze of nostalgia, as if twenty years were Gardel's nothingness.. “The excitement is maximum,” he explains while counting the hours until the match against Real Sociedad starts.. “Let's keep dreaming, the new generations have not experienced the joy of playing in a final and I see in their eyes the nerves and excitement that I enjoyed in the past,” he says, thinking of his children.. Alejandro, his eldest son, is 18 years old and has never seen Mallorca in those matches.. “La Real is a great team but it is possible to surprise, why not? This is football.”

Talking about a Cup final is not just anything in Mallorca. The collective memory of the island has that legendary Elche title etched in fire, when they defeated Recreativo de Huelva 3-0 in a final surrounded by mysticism, a feat of a club that in 2017 was relegated to Second B and that now returns to compete in the elite.

“The road to that final had a lot of merit,” remembers Mateu Alemany, president of the club between 2000 and 2005 and until recently football director of FC Barcelona. “We eliminate the best of the moment”. In the quarterfinals against Madrid galactico and in the semis against Superdépor, champions of the Champions League and the League respectively.. “That gave it a very high value,” claims the former manager.. This is how the third final in twelve years arrived. But that one wasn't like the others. “We were not going to a party as troupes, we were going with the obligation and pressure to win it, as favorites,” details Alemany, who admits that not taking advantage of it would have been a failure.

The players, in full celebration. EFE

“Mallorca was no longer a small team that miraculously sneaks into a final”. It was a club that had just played in the Champions League and was facing a historic opportunity to place a great trophy in its showcases.

That generated excitement but also a certain “suffering” and a collective state of anxiety, the fuel for 15,000 fans to travel to Elche.. The shipping companies could not cope and getting there was quite an odyssey. “It is still the largest mobilization in the history of a Balearic sports club,” recalls Alemany, still excited when remembering that night.. “Some boats arrived late, the Police had to escort us, it was brutal,” added Sebastià Oliver, president of Moviment Mallorquinista, a group that brings together more than 7,000 fans, on the phone.

But nothing about that distant night is understood without a proper name.. “It was the final of Samuel Etóo”, says Tolo Ramón, coach and analyst of Mallorca. The Cameroonian, whom Alemany considered “the best striker in Europe” at the time, was playing with his team in the Confederations Cup in France. Their participation in the final was unclear and normatively complex. But the president unblocked the situation and released the player. “He was 40% of the team's potential, he came on a private plane and left at the end of the game, he couldn't stay for the entire celebration,” says Alemany.

Between one flight and another, he scored two of the three goals in the final and forced a penalty, bringing the club to ecstasy where mentioning his name is like saying a spell that automatically awakens pride.. To this day, a large mural with his face adorns the facade of the stadium.

The captain, raising the Cup. GETTY

“We are very excited about this Cup,” explains Nacho Bonnín, a tireless member of Mallorca and another of those who completed the pilgrimage to Elche two decades ago.. “The Girona game lit the fuse, everything that had to go well turned out perfectly”. Now he sees a disparate tie but trusts in the strength of Son Moix. “We hope we have a good tie and go to Seville.”

For Ramón, the “oldest” Mallorcanism wants a final against Atlético de Madrid “and for the mythical final of 33 years ago to be repeated, now on neutral territory”, in Seville. The algorithm will say that Real Sociedad, sixth in the League and one of the best teams in Europe, plays today in the Cup against the fifteenth placed team. However, in the territory of the intangible, the San Sebastian team faces a club that reigned in that competition. And it conspires and dances under Etóo's mural to invoke the tornado of history.

En-Nesyri's double and the unfortunate attack on Ocampos in Vallecas: "There is always a fool"

Youssef En-Nesyri’s return proved crucial for Sevilla as they secured a vital victory against Rayo Vallecano, pushing them three points clear of the relegation zone. After being eliminated in the round of 16 of the African Cup, the Moroccan forward ended his goal drought with two well-taken goals, the first of which came from an unfortunate deflection. Despite having a long list of injured players, including the suspended Sergio Ramos, Quique Sánchez Flores’ team controlled the game from the start. Vallecano had their chances, but struggled to find the back of the net once again. The match was marred by an unfortunate incident where a young fan attacked Sevilla winger Lucas Ocampos during a throw-in, highlighting the need for strong action against such behavior in football stadiums. Both Ocampos and coach Quique expressed their concerns and called for strict measures to prevent such incidents from happening again.

Isi Palazón’s goal gave Rayo some hope, but their efforts to equalize were in vain as they failed to convert multiple chances. The match marked Sevilla’s first win in Vallecas since September 15, adding more significance to their crucial victory. Despite their injury troubles, Sevilla managed to stay afloat and secure three important points, giving them some breathing space in the battle against relegation.

Heroes, collaborators and veterans: the Belgian drama with its darkest past

Netflix has just added a new film called Will to its collection. Set in Antwerp in the 1940s, the movie is based on a book by Jeroen Olyslaegers and follows two police officers struggling to balance their allegiance to the Resistance with their obligations to the Gestapo during the occupation. Belgium, a country with a complex history of spies, traitors, and exiles, still finds it difficult to openly discuss this dark period.

The country is no stranger to complicit leaders who either remained in Belgium or sought refuge in Latin America or Spain, like infamous figure Leon Degrelle. Shockingly, there have been cases of individuals who received pensions from the Nazis for their services to the Third Reich and continue to do so. Tragically, half of Belgium’s Jewish population was exterminated during the Holocaust, leaving behind a painful legacy.

Recently, a debate emerged in Flanders regarding amnesty for those who collaborated with Hitler’s regime, prompting the then Minister of Justice to stir controversy by suggesting that it might be time to “forget” about collaborationism. This sparked outrage and debates about the importance of facing and learning from the past.

In 2024, Belgium will commemorate various significant anniversaries. One heartwarming story that gained attention is the fundraising campaign led by Randy Buelens to bring World War II veteran Chester Sloan, known as Buck, to Europe for the celebrations of the Normandy landings. Despite being seriously wounded in the Ardennes, Buck, who turns 100 on June 1, wanted to participate and bid farewell to the historic event.

Another remarkable publication that has recently been released is Following the Footprints by Jean de Selys Longchamps. Authored by Marc Audrit, this biography delves into the life of a baron who transformed from a posh and carefree young man into a national hero after the invasion. Serving in the British air force, the baron and his companion successfully attacked a railway line near Ghent and returned to Brussels, defying orders. Flying over key Nazi-held locations, they targeted the Gestapo headquarters, resulting in the deaths of four Nazis, including a high-ranking SS officer responsible for deporting thousands of Jews to Auschwitz.

Although the pilot and his team were hailed as heroes and received medals, the baron tragically lost his life in another operation months later. Despite the countless stories and legends surrounding De Selys Longchamps, it is surprising that it took 80 years for his definitive biography to be written. Belgium, a nation lacking in mythical heroes, should pay more homage to its recent ones, beyond a few busts and faded memories.

Maduro seeks date and rivals for his elections

The Bolivarian revolution has once again presented a revised version of the National Dialogue Table, aimed at manipulating the upcoming presidential elections. This table, also known as the “little table” due to its lack of representation, was previously used in the 2020 parliamentary elections, which were widely disputed by the international community and the democratic opposition.

In the past, the “little table” had the support of Russian Foreign Minister Sergei Lavrov and former Spanish Prime Minister José Luis Rodríguez Zapatero.

Recently, the National Assembly, resulting from this process, welcomed a group of collaborationist pre-candidates closely aligned with the Bolivarian regime. They accepted the ruling party’s invitation to propose their preferred election date and contribute their conditions to Nicolás Maduro’s “magnanimous act.”

Among the participants were evangelical leader Javier Bertucci, a ally of Zapatero in Caracas and former prison companion of Leopoldo López. There were also deputies financed by Colombian magnate Alex Saab, as well as other relatively unknown figures to Venezuelans. However, even with Nicolás Maduro included, they only accounted for a meager 21% of national support, according to a survey conducted by Polianalítico in January.

Javier Bertucci, who previously ran as a compliant candidate in the 2018 presidential elections under the banner of Esperanza por el Cambio, emphasized the need to not toy with the hopes of the people.

Interestingly, the candidate leading the polls and the only one to have passed a primary election with 92.6% of the votes did not attend the meeting. They were neither invited nor welcome. The signatories of the Barbados Agreement, along with the government, were also absent. María Corina Machado pointed out the violation of the agreement and the Unitary Platform, representing the opposition, described the meeting as unacceptable and aimed at distorting the electoral process.

“Maduro is now proposing an electoral schedule, with rumors of elections in July. This would require the registration of candidates to be completed by March or April, which may not align with the US deadline for revoking Machado’s disqualification. It puts the US in a dilemma and leaves uncertainty about any potential negotiation,” explained political consultant Luis Peche Arteaga.

The proposed date for elections in July appears to be the most favored, considering the agreement in Barbados that stipulated elections in the second half of the year.

The Bolivarian revolution is now attempting to generate divisions within the opposition through debates about replacing Machado’s candidacy and by introducing new candidates who may legitimize the elections both domestically and internationally. This strategy aims to limit the purification of the Electoral Registry, hinder the registration of new voters, and complicate international observation,” sociologist Gianni Finco revealed.

The current situation poses a significant dilemma for the United States and Machado herself. They must decide whether to proceed with Machado’s candidacy as planned and boycott the elections, as done in the past, or negotiate concessions that would allow a candidate from the democratic alliance to run with Machado’s endorsement,” added Luis Peche.

The fires in Chile: the greatest catastrophe since the 2010 earthquake: "It is the entire Chile that mourns and suffers for our dead"

Chile is shocked, hit by the biggest catastrophe since the earthquake that left 521 dead and 56 missing in 2010.. It was expected that this year, with a dry and hotter summer, the fires would grow, but no one imagined what February 2024 would bring: more than 15,000 homes burned, 112 dead and more than 200 missing.

“I have declared national mourning for two days, starting tomorrow, Monday, because it is the entire Chile that mourns and suffers for our dead,” said President Gabriel Boric this Sunday, visiting the Valparaíso region, the epicenter of the fires.

To know more
Latin America. Death toll from forest fires in Chile rises to 112, suspected to be intentional

Death toll from forest fires in Chile rises to 112, suspected to be intentional

America. Chile declares a state of emergency due to the forest fires that ravage the country and leave at least 10 dead

Chile declares a state of emergency due to the forest fires that ravage the country and leave at least 10 dead

“My deepest condolences to each of the victims who have lost a loved one and also to those who have lost their homes, their memories and their belongings.”. Know that you will not be alone,” added the head of state, who described the fires as “the biggest tragedy we have experienced” in the country since the 2010 earthquakes.

Boric, who since December buried the dream of a new Constitution, adopted a “management mode” with which he tries to be seen as close and concerned about the problems of Chileans in daily life, had to reorganize his government in the middle of the holidays. summer in the southern hemisphere.

Boric visits the Valparaíso region, devastated by fire. AILEN DIAZ | EFE

February is Chilean August, the month in which the country comes to a standstill. The Minister of Defense, Maya Fernández, granddaughter of Salvador Allende, had to return to Chile one day after starting her vacation in Brazil. The minister spokesperson, Camila Vallejo, is also on vacation.

A few days ago, Boric had given a positive assessment of the fight against the fires that hit the country every summer, especially in the central region.

“This year, in the season until January 26, 2024, we had had 2,867 fires. In the same period last year, we had 3,934. That is, this year we have had 27% fewer fires.”

Days later, that balance became useless. Carolina Tohá, Minister of the Interior, spoke openly of “intentional” fires.

“There are always rumors of this type, but this time they are serious antecedents from reliable people,” said the minister this Sunday when visiting Valparaíso.

Chile is not prepared

Michel De L'Herbe, an expert in risk prevention, told El Mercurio that Chile is not prepared to adequately fight the periodic fires that plague the country.

“We are in a context of extreme weather and we are missing fundamental aspects, such as fighting fires at night and also increasing the capacity of liters of water transported by aircraft.. Those that have a capacity of 1,100 or 1,500 liters are not enough. “At least six thousand to ten thousand liters are required.”

Luis Toledo, specialist in Civil Protection and Emergency Management, highlighted that Chile faces risks “every year on the same date.”

“The geographical configuration, with ravines, presence of vegetation and often garbage, offers the conditions for interface fires. Valparaíso was called by the native peoples as Alimapu, which means territory devastated by fire.. “The repopulation of burned and high-risk areas, together with the absence of preventive measures and the lack of construction of defensive firebreaks in the vicinity of populated areas, must be analyzed.”

Pope Francis dedicated a moment to the Chilean tragedy this Sunday, during the traditional Angelus prayer: “We pray for the dead and injured of the devastating fires that hit central Chile.”

The Chilean meteorological service assured that starting Tuesday the heat and wind conditions will no longer be extreme and will favor the fight against the multiple outbreaks of fire.

Ribera now points to the big banks: "The financial sector must reflect so as not to be trapped in investments full of CO2"

Banco Santander, BBVA, CaixaBank…. The greatest leaders of the Spanish financial world are now in the crosshairs of Teresa Ribera. The Minister for the Ecological Transition has singled out big banks for their significant role in financing a fully sustainable energy system: “The financial sector needs to reflect on what decarbonization means for them.”

The third vice president’s clear message was materialized in an initiative that the Ministry is currently finalizing. “We are working on a book on sustainable finance that will guide us in allocating our financial resources,” Ribera announced during his opening speech at the XII Business Symposium of the Foundation for Energy and Environmental Sustainability (Funseam) held in Barcelona on Monday.

Ribera clarified that this document, being prepared by the Ministry, aims to encourage the banking sector to avoid investing in high carbon emissions projects that could lead to difficulties in returns and may not align with the initial expectations. The ultimate goal is to facilitate the transformation of the entire energy and industrial system.

This is not the first time that the top national energy policy official has collaborated on a document related to sustainable finance. One year ago, Ribera participated in the preparation of the book “Sustainable Finance: An Environmental, Social, and Good Governance Commitment,” promoted by Funseam. The XII Business Symposium, held in Barcelona on Monday, also marked the opening of this event, where Ribera used the opportunity to announce the new ministerial initiative.

The book, which opens with reflections from Teresa Ribera, is expected to have an online version available in the first quarter of this year. The book is divided into three sections. The first section highlights the new approach to ESG (Environmental, Social, and Governance) factors being adopted by companies in the banking and telecommunications sectors.

Alongside Ribera, other voices appearing in the book include Margarita Delgado, the deputy governor of the Bank of Spain and president of the European supervisory authority, as well as José Carlos García de Quevedo, the president of the Official Credit Institute (ICO).

A year ago, Europe engaged in a contentious debate that determined which businesses were eligible for green financing. The controversy centered around whether to include gas and nuclear activities in the so-called green ‘taxonomy’, which would determine whether these activities could attract sustainable financing. After a close vote, gas and nuclear were included on the list alongside solar and wind energy, meaning they were considered equally green in the eyes of capital.

Ribera’s call to action comes as the latest annual report from the Spanish Observatory of Sustainable Financing reveals that the green credit market reached €60,788 million in 2023.

“Money is not the problem, but we need technological certainty and a regulatory framework,” said Paula Pinho from the European Commission.

While public-private initiatives offer attractive returns for companies, they need to carefully consider investments to avoid getting stuck in high carbon emissions projects.

Conflict in the US

Since its inception in 2021, the Net Zero Financial Services Providers Alliance (NZFSPA) has attracted some of the world’s largest financial services firms. Supported by the United Nations (UN), this group of companies has committed to aligning all their products and services with net zero greenhouse gas emissions by 2050. This commitment aims to encourage investment funds, banks, and other entities in the financial market to follow suit.

On September 13, 2023, 22 Republican attorneys general sent a letter to the signatories of the NZFSPA expressing concerns that their commitments may conflict with state and federal laws.