#1CONSEJERÍA DE HACIENDA Y FUNCIÓN PÚBLICA Comunidad de Madrid INVESTOR PRESENTATION#2TABLE OF CONTENTS 1. MACRO OUTLOOK II. FUNDING PROFILE AND STRATEGY III. SUSTAINABLE FINANCE#3CONSEJERÍA DE HACIENDA Y FUNCIÓN PÚBLICA Comunidad de Madrid I. MACRO OUTLOOK#4Economic growth The Community of Madrid economy is still growing vigorously, extending its dynamism for a period that already reaches three and a half years. It's rate of progress is higher than 2,5% in this period. GDP: Quaterly variation rates GDP: Interannual variation rates 5,0 $ 2 % % 0% N 1,4 1,2 4,5 4,0 1,0 3,5 3,0 2,8 0,8 0,6 2,5 2,0 0,5 1,9 1,5 0,4 0,4 1,0 0,2 0,5 0,0 (),0) III 2014 III 2015 III 2016 III 2017 III 2018 III 2019 III 2014 Source: CRTR (IECM) and CNTR (INE) -España C. de Madrid III 2016 Source: CRIR (IECM) and CNTR (INE) III 2015 III 201/ III 2018 III 2019 C. de Madrid España Percentage of Madrid compared to National total. Madrid with 14.1% of the population generates 19.2% of national GDP. C. MADRID SPAIN POPULATION 6.587 46.729 % Total 14,10% 100% GDP 230.794.788 1.202.193.000 % Total 19,20% 100% GDP Forecast According to BBVA Research, the GDP forecast to the Community of Madrid and Spain are the following: 2019 2020 2021 C. MADRID SPAIN 2,60 2,30 2,20 1,90 1,60 1,90 Source: INE, BBVA Research 4#5Real GDP In 2018, the Community of Madrid grow up at the greatest rate in comparison with other regions (+3,1%). Real GDP by CC.AA. (%) in 2018 3.5 3.1 3.0 3.0 2.8 2.6 2.5 2.5 2.4 2.4 2.4 2.2 2.2 2.2 = 2.0 2.0 1.9 2.0 1.9 1.9 1.5 1.5 1.0 0.5 0.0 Madrid Aragon Cantabria Navarre Castila -La Mancha Balearic Canary Islands Spain Andalusia Galicia Catalonia Basque Country Castile and Leon Asturias Valenciana Source: INE Extremadura Rioja Murcia 1.0 5#6Demand and Supply Slight reduction of growth in external demand offset by domestic demand growth. Weight of the services, industry and construction sectors on GDP in 2018 was 85.3%, 9.4% and 5.1% respectively. 4,5 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0,0 -0,5 II 2014 Contribution of regional demand and external demand to GDP growh in the Community of Madrid Sectorial growth Community of Madrid Interannual variation rates 9,0 8,0 7,0 6,0 5,0 4,0 3,0 2,0 1,0 0,0 Industry Construction Services II 2015 II 2016 || 2017 II 2018 II 2019 Source: CRTR (IECM) III 2018 IV 2018 12019 | 2019 III 2019 Internal Demand External Deamand Source: CRTR (IECM) CO 6#7Foreign Direct Investment The inflow of Foreign Direct Investment in Community of Madrid is high during the 1st half of 2019. Anyway, it slows down in comparison with the impressive figures reached last year. The foreign investment levels out in the third quarter of 2019. 50.000 45.000 40.000 Foreing investment received Millons of euros 50.000 45.000 40.000 35.000 Foreing investment issued Millons of euros 35.000 30.000 25.000 20.000 15.000 10.000 5.000 30.000 25.000 20.000 15.000 .. 10.000 5.000 0 0 2011 2012 2013 2014 2015 2016 2017 2011 2012 2013 2014 2015 2016 2017 2018 ACUM. I- 2018 ACUM. I- III-2019 III-2019 Source: Ministry of industry, trade and tourism Source: Ministry of industry, trade and tourism ■C. de Madrid Resto de España C. de Madrid Resto de España 7#8Labour market According to Labour Force Survey, third quarter of 2019, the Community of Madrid shows a positive performance of labour market. The unemployment rate continues to fall in terms of YoY, although it is tempers the pace of reduction achieved during the last two quarters. Including the last figure obtained from the survey, 20 consecutive quarters of year-on-year job creation are linked. Finally, the Community of Madrid unemployment rate has reached at 10.26% rate in the third quarter. The activity rate is up to 62.9%, which is the second highest of all Spanish Autonomous Communities. 28,00 26,00 24,00 22,00 20,00 18,00 16,00 14,00 12,00 10,00 8,00 Unemployment rate 1-12 11-12 III-12 IV-12 1-13 II-13 III-13 IV-13 1-14 11-14 III-14 IV-14 1-15 II-15 III-15 IV-15 1-16 QT-11 1-16 IV-16 1-17 II-17 III-17 IV-17 1-18 Source: EPA, INE Comunidad de Madrid -España 8T-11 10,26 III-18 IV-18 1-19 6T-11 Interannual variation of employed and unemployed 150.000,00 100.000,00 50.000,00 0,00 13,92 -50.000,00 III-19 -100.000,00 -150.000,00 I-13 -13 1-14 -14 1-15 III-15 1-16 III-16 I-17 III-17 1-18 III-18 I-19 III-19 Source: EPA, INE employed unemployed 8#9R&D Investment Madrid leads R&D spending with 3,922.8 million euros (26.2% of the Spanish total). Madrid is a leader in technological innovation spending with 6,656.6 million euros based on the location of the head office, and 5,846 million euros if considered where the expense has been made, what is 35.6% and 31.3 % respectively of Spanish total. Madrid is the second European region with more jobs in high tech sectors in 2018, behind Ille de France. R&D and personal expenditure Madrid Cataluña Andalucía País Vasco Comunitat Valenciana Castilla y León 3.923 Madrid Cataluña País Vasco Comunitat Valenciana Galicia Castilla y León Galicia Navarra Aragón Murcia Andalucía Aragón Navarra Murcia Castilla-La Mancha Canarias Asturias Castilla-La Mancha Asturias Canarias Baleares Cantabria Extremadura Baleares Cantabria - Rioja ■ Rioja ■ Extremadura 0 500 1.000 1.500 2.000 2.500 3.000 3.500 4.000 4.500 Source: Comunidad de Madrid Expense on innovative activities 6.657 0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 9#10Community of Madrid financing system The Community of Madrid Budget increased by 7,5% YoY in 2019, due to the main tax growth, the PIT. Billions € 2018 2019 % 19/18 % Total 2019 State managed taxes PIT 19.64 20.31 3.4% 102.7% 10.73 11.57 7.8% 58.5% VAT 6.96 6.69 -3.9% 33.8% Excise duties 1.59 1.71 7.6% 8.6% Excise duties: transport 0.12 0.17 37.5% 0.8% Bank deposits tax 0.13 0.13 0.0% 0.7% Business Tax (Local tax on businesses locations) 0.03 0.03 0.0% 0.1% Gambling taxes 0.02 0.02 0.0% 0.1% Environmental tax (regional tax) 0.06 0.01 -91.7% 0.0% Community of Madrid managed taxes 2.17 2.40 10.5% 12.1% Wealth Transfer Tax 1.06 1.30 22.2% 6.5% Stamp Duty 0.41 0.43 4.9% 2.2% Inheritance and Gift tax 0.45 0.42 -6.7% 2.1% Madrid's tax on gambling Tariffs Waste Collection Fees 0.17 0.16 -1.2% 0.8% 0.09 0.09 4.7% 0.5% 0.00 0.00 0.0% 0.0% Current Transfer Rest of non-financial income Total of non-financial income 4.07 3.76 7.6% -19.0% 0.65 0.83 26.4% 4.2% 18.40 19.78 7.5% 100.0% Source: Community of Madrid (Budget of the Community) 10#11Tax comparison The Community of Madrid has fiscal advantages on some taxes which has taxation power in order to increase deductions up to 100% such as Wealth Tax- or reduce the tax rate -as is the case of Property Tansfer Tax and Stamp Duty-. It has to be considered that tax rates and deductions which are shown in the following table are generally applied. Nonetheless, tax regulation sets other deductions with an application more residual. PIT Wealth tax Tax rate Only taxed over Tax rate Tax rate Inheritance tax Bonuses Inheritance and Gift tax Gift tax WTT Tax rate Bonuses Tax rate Wealth Transfer Tax and Stamp Duty SD Tax rate *Maximum deductible amount Source: Comunidad de Madrid. Community of Madrid 18.5-43.5% 700,000 € Discount of 100% 7.65-34% Groups I y II: 99%; Group III: 10-15% 7.65-34% Groups I y II: 99%; Group III: 10-15% 6% 0.75% Catalonia Andalusia Castile and Leon 21.5-48% 500,000 € 0.21-2.75% 7-32% 19.5-48% 700.000 € 0.24-3.03% 7.65-36.50% 19-44% 700,000 € 0.2-2.5% 7.65-34% Groups I y II: 99%-20% Groups I y II: 5-9% Groups I y II: 1.000.000€*; Group III y IV disabled people: 250.000€* 7.65-36.50% Groups I y II: 100- 80% 7.65-34% 10-11% 8-9-10% 8-10% 1.50% 1.50% 1.50% 11#12CONSEJERÍA DE HACIENDA Y FUNCIÓN PÚBLICA Comunidad de Madrid II. FUNDING PROFILE#13Normative protection of Debt payment The Community of Madrid's debt is included in the scope of State debt Article 135 of the Constitution states ... ■". Loans to meet payment on the interest and capital of the State's Public Debt shall always be deemed to be included in budget expenditure and may not be subject to amendment or modification as long as they conform to the terms of issue.". In terms of Organic Law Article 14.5 of the Law on Financing of the Autonomous Communities states: "The public debt of the autonomous communities and the securities of an equivalent nature issued by them shall be subject, to the same rules and shall enjoy the same benefits and conditions as the Public Debt of the State". Article 14 of the Organic Law 2/2012 of 27 April on Budgetary Stability and Financial Sustainability provides: "The payment of interest and principal on the debt of public administrations shall have absolute priority over any other expenses" In practice, the Spanish Government has provided financial support to regions that have experienced budgetary difficulties or access to the financial market ✓ Since 2012 the Treasury has implemented mechanisms such as the FLA (Autonomous Liquidity Fund) and FFPP (Payment Provider Fund) to provide liquidity to the regional governments and local authorities to enable them to cope with their payment obligations (Royal Decree-Law 17/2014). Ultimately, the Government of Spain is the ultimate guarantor of debt amortization. 13#14Gross financing needs 2020 Refinancing of long-term debt redemptions in 2020 2,893 MM Negative settlement 120 monthly payments (DA 36th, Law 2/2012, 29 june) 55 MM Target deficit (over 0 38 GDP) in 2020: 0% MM Agencia Vivienda Social, (Lt) debt MM Refinancing 2013 Suppliers Mechanism Loan and 2015 Financial Facility Loan 1,187 MM 4,173 GROSS FINANCING NEEDS 2020 MM AMOUNTS (€ million) Source: Comunidad de Madrid TOTAL ISSUED 2019: 2,740 MM 14#152020 Debt Strategy 1. Funding needs: EUR 4,173 bn. 2. EUR Benchmarks transactions. 3. Preference for medium and long maturities. 4. Smoothen the maturity profile towards longer term financing. 5. Commitment to liquidity (Taps). 6. Promote Sustainable Finance: ➤ Capacity to issue bonds and loans. ➤ Public and private deals. ➤ In complies with the GBP and SBP and aligned with the SDG. 15#16Rating and debt ratios Moody's S&P DBRS Current Rating Baa1 A- A- Stable Positive Positive Outlook 10/30/2019 11/08/2019 09/27/2019 Date Comunidad de Madrid National Total 2016 2017 2018 2019 3Q 2016 2017 2018 2019 3Q Debt/GDP (%) 14.4 15.0 14.6 14,3 Debt 30,417 32,783 33,448 33,692 24.9 276,995 24.8 288,119 24.,4 293,395 24.1 298,077 Comunidad de Madrid Public Tresury 2016 2017 2018 Debt Average Cost (%) 2.41 2.27 2.16 3Q2019 2016 2017 2018 3Q2019 2.20 2.80 2.58 2.43 2.42 LCR (Liquidity Coverage Requirement): NIVEL 1 EUROCLEAR.ECB 0% risk weighted. Minimum risk applicable in accordance with European Prudential Regulations The cost of debt under control (december 2019) The average cost of Comunidad de Madrid is 2.19% The average cost of debt Spanish Treasury is 2.21% * Source: Comunidad de Madrid, INE and Bank of Spain Considering rights and obligations * December 2019 Treasury cost 16#17The main characteristics of the debt Distribution bonds/loans Loans Currency distribution Type % Public entities Private entities 29.77 70.23 Total % Loans 41.24 Bonds Bonds 58.76% Type Loans 41.24% Euro % 100.00 Euro 100% Foreign currency 0.00 Total % Bonds 58.76 Distribution fixed/variable Floating 17.83% Fixed 82.17% A commitment to fixed-rate issuances is a strength: - Reducing risks. - Reducing volatility when making payments. Maturity Distribution Short term 0.52% Long term 99.48% Source: Comunidad de Madrid. (*) SEC 2010 Institutions *Private entities, Private Banks *Public entities: European and Spanish (ICO) Financial Update: 31/12/2019 17#18mill.€ 6.000 5.000 4.000 3.000 2.000 1.000 Funding Activity 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ■ Bond ■Loans ■ Public Mechanisms ■Financing Needs 2020 Madrid, regular player in Capital Markets. Source: Comunidad de Madrid 18#19The main characteristics of the debt mill.€ 4000 3500 3000 2500 2000 1500 1000 500 0 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 32-35 2036 37-42 43-44 2045 2046 48-49 2053 2058 2066 As at 31/12/2019 ■Bonds ■Loans The average maturity of debt is 7.67 years The average maturity of Spanish Treasury is 7.55 years Source: Comunidad de Madrid and Spanish Treasury 19#20Average cost and average life % 4,5 4 3.90 3.82 3.96 3.61 6.96 6.85 6.92 3,5 3.53 6.41 6.17 3 5.50 2,5 2 2010 2011 Source: Comunidad de Madrid 5.51 5.34 2.79 Years 8,0 7.67 7.39 7,5 7,0 6,5 6,0 2.43 2.27 5,5 2.21 2.19 2012 2013 2014 2015 2016 2017 2018 2019 Average Cost Average Life 5,0 20 20#21mill.€ 2.000 Comunidad de Madrid: Benchmark Transactions 1.800 1.600 1.400 1.200 1.000 800 600 400 200 0 ....... 19/05/2021 30/04/2022 08/05/2022 17/07/2023 21/05/2024 ■ Public Tap Sustainable 30/09/2024 30/04/2025 30/04/2027 Common features of these operations: ▪Extraordinary investor's response. ▪Outstanding quality of the orderbook: Demand driven by real money investors. ▪High international support, very well diversified in geographical terms. Source: Comunidad de Madrid 30/04/2028 30/04/2029 12/03/2030 21#222019 Transactions 2019 Placements and Loans Amount Operation Settlement date Tenor (€ mill) Public Placement (Sustainable) 1,250,000,000 02/14/2019 10 Тар 38,000,000 03/05/2019 40 Loan 65,000,000 03/12/2019 30 Loan 300,000,000 03/13/2019 12 Loan (Sustainable) 50,000,000 03/14/2019 11 -Moderate interest rate with "Contained financial costs" Loan 100,000,000 03/14/2019 12 Loan 100,000,000 03/15/2019 12 Loan (Sustainable) 97,000,000 03/15/2019 10 -5-47 years tenors executed Private Placement 175,000,000 03/18/2019 40 Loan 25,000,000 03/18/2019 40 Loan (Sustainable) 220,000,000 03/29/2019 11 Loan 53,000,000 04/05/2019 10 -The average Funding cost for 2019 was 1.77% and the average tenor was over 15 years. Tap (Sustainable) 50,000,000 04/25/2019 40 Тар 50,000,000 05/17/2019 47 Тар 92,000,000 06/10/2019 Тар 50,000,000 12/03/2019 Private Placement 25,000,000 12/04/2019 151 47 10 Total 2,740,000,000 Source: Comunidad de Madrid 22 22#232019 Bond Profile BY REGIONS BOND TRANSACTIONS OTHER 2% SWITZERLAND 2% USA 1% BENELUX 4% GERMANY AND AUSTRIA 32% ITALY 6% FRANCE 17% SPAIN 37% Source: Comunidad de Madrid BY INVESTOR TYPE OTHERS OFFICIAL INSTITUTIONS 0,72% 2,17% ASSET MANAGERS 24,66% INSURANCE COMPANIES AND PENSION FUNDS 28,5% TOTAL AMOUNT 1,730,000,000 € BANKS 43,95% 23 23#24CONSEJERÍA DE HACIENDA Y FUNCIÓN PÚBLICA Comunidad de Madrid III. SUSTAINABLE FINANCE#25Sustainability Mandate of the Community of Madrid The community of Madrid has the clear social and environmental mandate to meet the needs of its citizens. The social expenditures include several programs such as the financing of public polices related to public health, education, social services, employment promotion, public transportation, and subsidized housing. The community of Madrid's expenditure on social programs aim to strengthen Madrid's socio-economic recovery and improve social cohesion, thanks to the development of public services that benefit all the citizens and the implementation of programs to promote employment through investment of small businesses. Additionally, the community of Madrid has an important environmental mandate. Almost 50% of the region area of the region is protected due to its environmental protection and conservation value. The geo-economic situation in Madrid creates the need to implement policies for pollution management and waste treatment in densely populated urban areas. Comunidad de Madrid stands out in Autonomous Communities international transparency with an index of 98.1 points out 100, standing above the average of 94.0 point. Source: Comunidad de Madrid 35 PLAZA MAYOR 25 25#26Sustainable Finance Framework The Sustainable Finance Framework of the Community of Madrid is in line with the Sustainability Bond Guidelines 2018 and Green Loan Principles 2018: Use of Proceeds Bond Proceeds of the Sustainable Finance Instruments will be directed towards investments from the following eligible categories: (i) Affordable housing; (ii) Education; (iii) Healthcare; (iv) Social Inclusion; (v) Economic inclusion and SME financing; and (vi) Climate change and environmental management. Project Evaluation and Selection There is a Committee of Selection, Monitoring and Evaluation that meets before issuing the instruments linked to sustainability to select the eligible programs from the General Budget. Management of Proceeds The income from the Sustainable Finance Instruments will be monitored. Income from the Sustainable Finance Instruments will be allocated to eligible programs in the General Budget of the Community of Madrid, corresponding to the fiscal year of finance instruments issued linked to sustainability. Reporting The reports over allocation will be available to investors approximately one year from the date of issued Sustainable Finance Instruments and until the proceeds of have been allocated completely. The Community of Madrid is developing extensive social and environmental reports and will strive to publish an extraordinary report dedicated to the impact of Sustainable Finance Instruments and based on existing indicators. Source: Comunidad de Madrid 26 26#27Sustainalytics Second Party Opinion "Sustainalytics is of the opinion that the Comunidad de Madrid Sustainable Finance Framework is credible and impactful, and aligns with the Sustainability Bond Guidelines 2018 and Green Loan Principles 2018." Eligible categories Affordable housing Education Healthcare Social Inclusion Economic Inclusion and SME Financing Climate Change and Environmental Management Extracts from Sustainalytics Opinion¹ ⚫ "Comunidad de Madrid's intention to finance projects for the development and provision of social housing and shelter to disadvantaged populations directly supports Spain's State Housing Plan" "Sustainalytics' considers Comunidad de Madrid's financing of public education to contribute to the access to education. [...] Furthermore, Comunidad de Madrid allocates specific resources to guarantee access to education for students in disadvantaged situations (social and/or cultural disadvantage or minorities)." ⚫ "Comunidad de Madrid offers universal healthcare coverage to all its citizens. In 2019, healthcare will account for 42.5% of Madrid's budget [...] Sustainalytics considers that the financing of the Communidad's healthcare programme will facilitate the ongoing provision of quality healthcare services to the local population." • • "Speaking to the impact of Comunidad de Madrid's social inclusion policies, according to a survey shared with Sustainalytics, over 90% of the immigrants in this region feel well integrated in their working environment and local communities." "Sustainalytics considers that the support provided to Madrid's SMEs, including start-ups and those exercising craftsmanship/artisan activities, will have two types of positive social impact: strengthening the competitiveness of SMEs leading to the creation and preservation of jobs, and the promotion of the integration of vulnerable people." "[...]financing low carbon transportation and reduction of global CO2 emissions are considered an impactful use of proceeds as it will support Comunidad de Madrid to achieve its greenhouse gas emissions reduction target." Second-Party Opinion Comunidad de Madrid Sustainable Finance Framework Evaluation Summary Sustainalytics is of the opinion that the Comunidad de Madrid Sustainable Finance Framework is credible and impactful, and aligns with the Sustainability Bond Guidelines 2018 and Green Loan Principles 2018. This assessment is based on the following: 1The full Second Party Opinion is available at: http://www.comunidad.madrid/inversion/relacion-inversores/deuda-sostenible Source Comunidad de Madrid USE OF PROCEEDS The six eligible categories for the use of proceeds (1) Affordable housing; (ii) Education; (i) Healthcare; (iv) Social inclusion; (v) Economic inclusion and SME financing; (v) Climate change and environmental management are aligned with those recognized by both the Green Bond Principles and the Social Bond Principles. Sustainalytics considers the eligible categories outimed in the Comunidad de Madrid Sustainable Fmance Framework to have clear social and environmental benefits with specific relevance to UN Sustamable Development Goals 1,3,4,5,8,11 and 13 PROJECT EVALUATION SELECTION Eligible programmes are evaluated and selected by a dedicated internal Selection, Monitoring and Evaluation Committee. The Committee is composed of representatives from the Regional Treasury Department and sub-departments for Financial Planning and Public Finance, and it will meet prior to the issuance of a sustainable finance instrument to select eligible programmes from the General Budget. Sustainalytics considers the project evaluation and selection process of Comunidad de Madrid to be in line with market practice. MANAGEMENT OF PROCEEDS In line with market practice, the proceeds of the Sustainable Finance Framework will be allocated to eligible budgetary programmes in the General Budget of Comunidad de Madrid, corresponding to the fiscal year of the issuance. Pending full allocation, the unallocated proceeds will be held and/or invested in Comunidad de Madrid's liquidity portfolio. REPORTING Comunidad de Madrid intends to report on the allocation of proceeds on its website within approximately one year from the date of issuance and until the proceeds have been fully allocated. Allocation reporting will include the total amount provided to the various eligible budgetary programmes. Where feasible, the impact report will include relevant impact indicators per each green and social category. Sustainalytics views Comunidad de Madrid's allocation and impact reporting as aligned with market practice. SUSTAINALYTICS SECOND-PARTY OPINION Evaluation date Issuer Location Report Sections Introduction Sustainalytics Opinion Appendices 1 February, 2019 Madrid, Spain For inquires, contact the Sustainable Finance Solutions project team: Joshua Zakkai (Amsterdam) Project Manager [email protected] (+31) 20 205 00 79 Begum Gurscy (Timisoara) Project Support [email protected] (+40) 0356 089 978 Jean-Claude Berthelot (Amsterdam) Client Relations jean-claude [email protected] (+31) 20 205 00 15 "All six use of proceeds categories are recognized as impactful by the Sustainability Bond Guidelines 2018. Sustainalytics has focused on where the impact is specifically relevant in the local context" SUSTAINALYTICS 27#28Use of proceeds – transparent and audited programs Eligible categories Affordable Housing Education Healthcare Social Inclusion Economic Inclusion and SME Financing Program in the General Budget Amount in € million 261B 113.3 FIN DE LA POBREZA SDG 11 CIUDADES Y COMUNIDADES SOSTENIBLES EDUCACIÓN DE CALIDAD 232A/322A,B,C,F / 324M 1,189.8 312A 232B/231A,C,F,D,E / 232A,B,E/ 2,928.1 241A,M 3,880.3 261B/322A,B,F / 422B / 431A/ 433A453N / 463A 241A,M/422B/431A/433A / 463A Climate Change and Environmental Management 422B453N / 456A,N Source: Comunidad de Madrid FIN SALUD Y BIENESTAR W DE LA POBREZA CIUDADES Y 11 COMUNIDADES SOSTENIBLES 5 IGUALDAD DE GÉNERO EDUCACIÓN DE CALIDAD 360.3 1,471.6 TRABAJO DECENTE Y CRECIMIENTO ECONÓMICO 11 CIUDADES Y COMUNIDADES SOSTENIBLES 13 ACCION POR EL CLIMA 20 28#29Alignment with the UN Sustainable Development Goals Eligible categories Framework Affordable housing Education Healthcare Affordable housing includes objectives to reduce the percentage of the population living in poverty, and refers to the need to implement social protection systems and measures for all, achieving a substantial coverage of the poor and the vulnerable. Education aims for (i) equal access to affordable and quality education, including university; (ii) sustainable increase in the number of youth and adults who have relevant skills for employment, decent jobs and entrepreneurship; and (iii) build and upgrade education facilities that are child, disability and gender sensitive and provide safe, non-violent, inclusive and effective learning environments for all. Healthcare strives to achieve universal health coverage, including access to quality essential healthcare services and access to safe, effective, quality and affordable essential medicines and vaccines for all. FIN DE LA POBREZA SDG EDUCACIÓN DE CALIDAD SALUD YBIENESTAR 11 CIUDADES Y COMUNIDADES SOSTENIBLES Social Inclusion Social inclusion strives to ensure access to adequate, safe and affordable housing, and basic services to all. It also aims to provide access to sustainable transport systems to all, with special attention to the needs of those in vulnerable situations such as children, persons with disabilities and older persons. In particular, gender equality strives to eliminate all forms of violence against all women and girls, and recognizing the importance of equality. FIN DE LA POBREZA 11 CIUDADES Y IGUALDAD DE GENERO COMUNIDADES SOSTENIBLES Economic Inclusion and SME Financing Climate Change and Environmental Management Economic inclusion strives to support productive activities, decent job creation, entrepreneurship and innovation, and encourage the formalization and growth of SMEs, including through access to financial services. EDUCACIÓN DE CALIDAD TRABAJO DECENTE 8 Y CRECIMIENTO ECONOMICO Climate change and environment management that aims to integrate climate change measures into national policies, strategies, and planning 11 CIUDADES Y COMUNIDADES SOSTENIBLES 13 ACCIÓN POR EL CLIMA Source: Comunidad de Madrid 29 29#30Management of Proceeds An amount equivalent to the proceeds of the Sustainable Finance Instruments will be allocated to a mix of environmental and social projects and provision of service. All amounts can be traced back to Madrid's General Budget for a specific fiscal year. The use of revenue may include capital and operating expenditures of eligible project categories and programs, as well as indirect lending to projects such as grants for private and public organizations and consortiums for special purposes. Only Community of Madrid's own expenditures (net of EU grants, EIB loans, state grants or other revenues earmarked for specific purposes) are eligible. Specific chapters of the relevant budgetary programs that will be excluded are: - - - Personnel expenditures (Chapter 1 of the budgetary programs), Financing costs (Chapter 3 of the budgetary programs), Contingency Funds (Chapter 5 of the budgetary programs), Financial assets (Chapter 8 of the budgetary programs), except for art.87-89 - Indirect investments in projects such as grants for private and public companies and consortiums for relative framework purposes. Financial liabilities (Chapter 9 of the budgetary programs) It is possible to issue multiple Sustainable Finance Instruments as long as the total amount of funding does not exceed the amount of eligible programs in the annual budget. In principle, the full amount of the Sustainable Finance Instruments proceeds will be allocated to the budget of one fiscal year. The amount will be formally allocated at the close of the fiscal year when the definitive budgetary amounts are approved. The fiscal year is considered to be closed by the end of the first quarter (March) of the following year. An external auditor will verify the amounts within one year from the date of the Sustainable Finance Instruments issuance. Community of Madrid ensures that the systems and processes as specified above meet their requirements over the lifetime of the instrument. Source: Comunidad de Madrid 30 30#31Projects List 2020 ELEGIBLE PROJECT NAMES CATEGORY Social Housing Agency as an intermediate entity of the FEDER operating program of the Community of Madrid: Realojo Cañada Real and Río Guadarrama. Acquisition of houses. Conservation and maintenance of inhabited social housing Affordable Housing Urbanization of land designated for the construction of social housing Construction of new social housing development Reparation of uninhabited social housing for its second adjudication Education Health Neighborhood Assistance Service of the Community of Madrid, ASIVECAM Attention to certain students with specific needs for educational support Book loaning program Maintenance expenses in Secondary Education Centers of the Community of Madrid Tutoring Program (support and academic reinforcement) Trainig and awareness-raising for women in situations of social exclusion Vocational training scholarships of higher degree Educational compensation classrooms High impact medications and orphan drugs (for uncommon diseases) Collaboration with local entities Collaboration with professional entities Nursing Care Report 2.0 Collaboration with citizen entities Drogodependientes mobile service and referral to treatment Reduced cost of school menu Assist beneficiaries of economic benefits recognized in ther PIA Assist the beneficiaries of home help recognized in their PIA Care for the eldery in centers Subsidy for the user of public transportation in Madrid Senior Centers Comprehensive care in residential centers Soup Kitchens Attention in non-residential centers SUM 9.068.225,00 2.585.000,00 3.697.761,00 14.355.300,00 4.790.000,00 982.057,00 1.811.302,00 49.997.776,00 14.000.000,00 1.889.800,00 144.499,00 16.000.000,00 707.594,00 480.000.000,00 116.800,00 110.000,00 20.000,00 500.000,00 1.238.102,00 30.000.000,00 206.000.000,00 66.000.000,00 292.972.990,00 1.002.777.633,00 13.955.287,00 4.576.872,00 2.704.359,00 6.600.338,00 Free transportation services to special education centers for students Free school transport services for students with physical disabilities from early childhood, primary and secondary education centers Economic benefits for social integration of victims Social Inclusion Free lunch service for students in special education centers Free school transportation service for students in shanty towns Participation and integration centers Volunteer School of the Community of Madrid Economic Inclusion and SMEs Financing Housing First program Center for people in situation of social exclusion Network of volunteer information points (PIV) Information and attention program, LGTBI Minimum Insertion Income Subsidies for integration projects linked to minimum insertion income Cooperation for development subsidies Pre-commercial public purchase Help for the promotion of technological sectors Help for the promotion of technological Start-Ups Aid to encourage the use of innovation services in small businesses. Check Innovation Program Aid for the industrial SECS for industry project 4.0 Aid to intermediary innovation entities Financing for the management of household waste Measures to promote efficient mobility 5.561.417,00 2.154.545,00 300.000,00 2.949.474,00 982.851,00 1.900.000,00 112.314,00 500.000,00 1.000.000,00 69.320,00 400.000,00 168.626.480,00 4.700.000,00 3.100.000,00 1.500.000,00 2.500.000,00 1.925.000,00 1.500.000,00 1.500.000,00 1.500.000,00 7.032.256,00 2.000.000,00 3.879.562,00 1.137.006,00 Climate Change Measures of conservation of the protected natural areas of the community of Madrid Measures to protect and improve the environment Management Assistance to non-profit entities with environmental purposes and Enviromental Conservation measures for green areas and preurban parks of the Community of Madrid Inventory of emissions. Study of contribution of sources. Study of impact quantification measures Strategy of Air Quality and Climate Change of the Community of Madrid 2013-2020. Blue plan + Maintenance and support for the management for the air quality of the Community of Madrid TOTAL 1.700.000,00 500.000,00 142.279,00 1.019.361,00| 2.447.793.560,00 31#32Reporting Framework example: Sustainability Bond Allocation Reporting 2018 Comunidad de Madrid Sustainable Finance Allocation Reporting 2018 Eligible Sustainability Project Portfolio Affordable Housing Education Amount (EUR) Allocation of Sustainability Sustainability Bonds Sustainability Loans 22.860.591 49.098.257 Amount (Eur) 1.150.000.000 379.000.000 Healtcare 440.851.800 Social inclusion Economic inclusion Environmental Management Eligible Sustainability Project Portfolio 2.059.848.131 10.425.000 18.074.664 2.601.158.443 Sustainability Funding 1.529.000.000 % of Eligible Sustainable Project Portfolio allocated: 58,8% Source: Comunidad de Madrid % Sustainable net proceeds allocated: 100% 32 32#33Sustainable Finance Framework (Impact indicators) The Community of Madrid will report over the most important social and environmental impacts produced by the eligible programs, based on the impact indicators. The following is a sample of the indicators by category: Eligible category Sample of impact indicators Affordable housing Number of vulnerable individuals or families benefiting from subsidized housing Education Number of supported special education centers Number of education programs or professional development aimed at young people in risk of exclusion Healthcare Number of people with rare diseases who are provided access to adequate services and medication Social inclusion Number of supported victims of domestic violence (in terms of housing, financial, and other) Number of individuals or families who benefit from social minimum income Economic and financial inclusion of SME Climate change and environmental management Number of SMEs that receive support for equipment and facilities and technological modernization Amount of waste recycled or turned into compost (tons) Zones/number of protected natural parks and other areas with unique conservation value where assistance has taken place. Number of electric cars purchased/new charging ports for electric cars Source: Comunidad de Madrid 33 333#34Reporting Framework example: Sustainability Bond Impact Reporting 2018 Comunidad de Madrid Sustainable Finance Impact Reporting 2018 Allocation information Impact indicators Other impact indicators Project category Target population Eligible Project SDG Addressed (*a) Category Target Group (if applicable) Budgetted amount (*b) Allocated to sustainable Finance (amount) Share of Total Budget Financing (*c) Number of beneficiaries (*d) EUR EUR % Number Unit of measure Additional Indicators number / unit of measure Affordable Housing Goal 1: No Poverty Goal 11: Sustainable Cities and Communities Disadvantaged and underserved groups 22.860.591 4.300.231 0,3% 34 Families with social housing Number of social housing units acquired Number of special education centres 37 31 Education Goal 4: Quality education Youth, disadvantaged groups 49.098.257 21.888.382 1,4% 146.088 Number of vulnerable students Number of special 4.576 education students Number of public schools (0-18 years) 1.618 Healthcare Goal 3: Good Health and Well-being Citizens (including disadvantaged and underserved groups 440.851.800 480.000.000 31,4% 187 Number of people with a rare disease being provided access to services and adequate medication Number of pleople treatment medication high impact 50.203 Disadvantaged Social inclusion Goal 1: No Poverty SDG 5: Gender equality and underserved 2.059.848.131 groups 1.007.017.055 65,9% 274.351 Number of individuals or families benefiting from social benefits Number of victims of gender violence supported 438 Number of subsidized trips 368 Economic inclusion Goal 4: Quality education Goal 8: Decent work and economic growth SMEs and long- term unemployed 10.425.000 1.487.239 0,1% 41 Number of SMEs that received support Environmental management Goal 13: Climate Action 18.074.664 0,9% Amount of recycled or composted waste (tons). Interventioned Area (ha)/ Number of Protected Natural Parks and other areas with unique conservation value Number of electric vehicles acquired / new points of electric vehicle recharge 286.952 118.968 491 Taxis 215 Commercial vehicles Total *a: Eligible SDGs which are adressed by the financed portfolio/project and fit to the choosen SBP (sub)category *c: This is the share of the total portfolio cost that is financed by the issuer. Source: Comunidad de Madrid 2.601.158.443 1.529.000.000 100,0% 420.701 *b: Signed/budgetted amount committed by the issuer for the portfolio or portfolio components eligible for sustainable finance. *d: Impact indicators 34 =4#35Leadership in Sustainable Bonds First Spanish public region to issue Sustainable Bonds. • Largest Sustainable Bonds issued in Spain. Capacity to Issue Sustainable Bonds and Sustainable Loans. Largest amount outstanding in Sustainable Bonds (4,154MM). Amount (€ million) Settlement Tenor Sustainable Bond (Public) 700 04/18/2017 5 Sustainable Bond (Public) 1,000 02/23/2018 10 Sustainable Bond (Public) 1,250 02/14/2019 10 Source: Comunidad de Madrid 35 55#36Thanks you for your attention Contact Information Rodrigo Robledo Tobar Director General for Financial Policy and Treasury Mª Luz García Aliaga Deputy Director Financial Policy Beatriz Mula Coso Head of Funding [email protected] http://www.comunidad.madrid/inversion/relacion-inversores Disclaimer This presentation was created by the Community of Madrid This presentation does not constitute an offer or invitation (by or on behalf of) the Community of Madrid to the subscription or purchase of securities issued by the Community of Madrid. This presentation is not intended to provide any assessment of the financial situation of the Community of Madrid or any assessment of the instruments used by the Community of Madrid and should not be considered as a recommendation from the Community of Madrid. Each recipient of this presentation, independently, should judge the relevance of the information contained in this document, make their own assessment and determine whether additional information should be sought and consult their own advisors in terms of legal, fiscal, or another type that is deemed necessary. 36#37ANNEXES CONSEJERÍA DE HACIENDA Y FUNCIÓN PÚBLICA Comunidad de Madrid#38Overview of outstanding Sustainable transactions Amount (€ million) Settlement Maturity Tenor Social Bond (PP) 48 08/18/2016 08/18/2031 15 Social Loan 20 11/08/2016 11/08/2026 10 Sustainable Bond (Public) 700 04/18/2017 04/30/2022 5 Sustainable Loan 240 06/28/2017 06/28/2032 10 Sustainable Bond (Public) 1,000 02/23/2018 04/30/2028 10 Sustainable Loan 39 02/05/2018 02/05/2028 10 Sustainable Loan 340 01/29/2018 01/29/2032 10 Sustainable Bond (PP) 150 10/22/2018 10/22/2058 40 Sustainable Bond (Public) 1,250 02/14/2019 04/30/2029 10 Sustainable Loan 50 03/14/2019 03/14/2030 11 Sustainable Loan 97 03/15/2019 03/15/2029 10 Sustainable Loan (Blookchain) 220 03/29/2019 03/29/2030 11 Source: Comunidad de Madrid 38#392018 Transactions 2018 Placements and Loans Operation Loan Amount (€ mill) 75,000,000 Settlement date Tenor 01/22/2018 12 Loan 100,000,000 Loan 25,000,000 Loan 150,000,000 Loan (Sustainable) 340,000,000 01/23/2018 12 01/24/2018 9 01/24/2018 11 01/29/2018 14 Loan 36,000,000 Loan 65,000,000 Loan 10,000,000 Loan (Sustainable) 39,000,000 Loan 75,000,000 Тар 385,000,000 Public Placement (Sustainable) 1,000,000,000 02/05/2018 15 02/06/2018 6 02/05/2018 8 02/05/2018 10 02/06/2018 11 02/20/2018 28 02/23/2018 10 -Moderate interest rate with "Contained financial costs" Loan 200,000,000 03/16/2018 30 -5-40 years tenors executed -The average Funding cost for 201 was 2.1% and the average tenor was over 18 years. Loan 250,000,000 04/27/2018 30 Private Placement 92,000,000 10/10/2018 35 Private Placement (Sustainable) 150,000,000 Loan 70,000,000 10/22/2018 40 12/14/2018 5 Total 3,062,000,000 Source: Comunidad de Madrid 39#402018 Bond Profile BY REGIONS BOND TRANSACTIONS NORDIC 2% SWITZERLAND 4% OTHER 1% BENELUX 5% FRANCE 5% UNITED KINGDOM 6% ITALY 22% Source: Comunidad de Madrid BY INVESTOR TYPE OTHERS 1,23% OFFICIAL INSTITUTIONS 2,46% BANKS 26,74% SPAIN 38% ASSET MANAGERS 31,35% GERMANY AND AUSTRIA 16% TOTAL AMOUNT 1,627,000,000 € INSURANCE COMPANIES AND PENSION FUNDS 38,23% 40#41Debt issuance Procedure: Public issue (I) Authorizations •Authorization from the Regional Government. •Authorization from the Central Government. Contact with Investors and Financial Institutions •Continuous contact is maintained with investors and financial institutions, indicating deadlines, levels and amounts in which Comunidad de Madrid has more interest. •Instructions to a group of institutions that are selected taking into account those which have realized higher amounts of private placements with Comunidad de Madrid, as well as those which have participated successfully in public issue of equivalent terms of the Treasury; FADE, ICO, FROB and even private companies. If market conditions are good the transaction will carry out. •Range price formation. The syndicate, in communication with Comunidad de Madrid, sets a price range to trade the issue within the agreed timeframe with Comunidad de Madrid; the eventual commission to be received by the syndicate is discussed, and on the issue date, Comunidad de Madrid informs via email of the roles to be played by each one of the participants of the group and seeks the approval of the syndicate. •On the scheduled issue date, the transaction is announced on the trading screens of Bloomberg and Reuters in order to capture the attention of investors. •The order book is opened. •The order book is closed. Fixing of Issue Price •Once the bonds have been allotted to the investors who have recorded orders in the book, a time is announced to fix the issue price; at the scheduled time, a joint call for fixing the price is made. Once Comunidad de Madrid and all banks are connected online with the screens of Bloomberg, the transaction is priced in accordance with the agreed terms in the Termsheet, based on the Treasury references. Fixing the issue price, coupon and IRR for the transaction. A first simulation of the relevant calculations is made. Documentary Process •Sending the final Termsheet, with the terms and conditions of the transaction that has just been established, to his approval. At this stage, a distribution by type of investor and nationality is requested. At this point, the institution that has been assigned this role, advises Bloomberg of the price, date, coupon, and ISIN code for the transaction. •Preparation internal report to be signed by the Managing Director of Financial Policy, Treasury and Real Estate and then sent out to our Legal Services. •Legal Service, in accordance with the terms of the report, applies for the corresponding ISIN code to the Bank of Spain and prepares the transaction authorization order to be signed by Regional Minister of Economy and Finance once it has been examined by the Intervención Delegada de Tesorería. •The Orden is published in the BOCM at least two days before payment takes place, since during this period of time the Bank of Spain must be advised of the list of subscribers and the application for the credit of securities; this Order becomes the Prospectus for the public issue. Letters are also sent to the rating agencies in order to request an specific rating for the transaction in question, that is submited to the subscribing institution. •At the same time, over this period, Legal Services, along with the Financial Institution, prepare the Contract which is signed the day before disbursement day and requires a preparatory report by Legal Services and by the Intervención Delegada de Tesorería. That Contract: •Is a suscription contract. •Is excluded from the scope of Law 30/2007, of 30 october, on Public Sector Contracts. Disbursement :T+7 •Disbursement :T+7 •At this stage, the rating letters from the rating agencies are submitted to the subscribing institution. Source: Comunidad de Madrid 41#42Debt Issuance Procedure. Private placement or retap Authorizations •Authorization from the Regional Government. Authorization from the Central Government. (II) Contact with Investors and Financial Institutions • Continuous contact is maintained with investors and financial institutions, and the comunications indicate that Comunidad de Madrid has the necessary authorizations to execute financial transactions, as well as the deadlines, levels and minimum, amounts that interest us. • A specific offer is submitted by an investor o financial institution which should have been assigned a code by the Bank of Spain (Banco de España); for this reason, sometimes the operation is carried out through a bank that has been assigned such code and functions as an intermediary. •The offer submitted is then studied by means of an indicative termsheet, in which key elements that must be included are: •Amount •Princing date Date of disbursement IRR all-in (including all commissions) indicating the Treasury reference levels. Fixing of Issue Price •Once the operation has been internally approved, taking into account the financial strategy of Comunidad de Madrid, the pricing time is fixing with the financial institution. •On the day and agreed time for princing, the financial institution contacts by telephone with Comunidad de Madrid in order to establish the price. •Connected online with the screens of Bloomberg, and in accordance with the terms established in the indicative Termsheet, a first simulation of the relevant calculations is made, and if the parties agree, the transaction is established in a real way. Documentary Process ⚫The final Termsheet, with the terms and conditions of the transaction that has just been established, is submitted to the issuer for his approval. At this stage, a distribution by type of investor and nationality is requested. At this point, the financial institution advises Bloomberg of the amount, coupon, maturity date and ISIN code for the transaction. •Preparation Internal Report to be signed by the Managing Director of Financial Policy, Treasury and Real Estate. • Legal Services, in accordance with the terms of the Report, applies for the corresponding ISIN code to the Bank of Spain (provided that the transaction is not a reopening) and preparesthe authorization order to be signed by the Regional Minister of Economy and Finance, once it has been examined by the Intervención Delegada de Tesorería. •The Order is published in the BOCM at least two days befores payment takes place. Bank of Spain is advised of the list of subscribers and the application for the credit of securities.This Order becomes the Prospectus for the private placement. Letters are also sent to the rating agencies in orden to request an specific rating for the transaction in question, that is submited to the subscribing institution. At the same time, over this period, Legal Service, along with the Financial Institution, prepare the Contract which is signed the day before disbursement day and requires a preparatory report by Legal service and by the Intervención Delegada de Tesorería. Said Contract: Is a subscription contract.. •Is excluded from the scope of Law 30/2007, of 30 october, on Public Sector Contracts. Disbursement (T+6) Disbursement: T+6 •At this stage, the rating letters from the rating agencies are submitted to the subscribing institution. Source: Comunidad de Madrid 42#43Affordable Housing Use of proceeds: Revenue from the Sustainable Finance Instruments will be allocated to projects aimed at fighting against housing exclusion by providing affordable housing and shelter to disadvantaged populations. • • Related expenditures include: Renovation, maintenance and improvements of affordable housing projects; Provide affordable housing with adjusted rents to disadvantaged targeted populations; Maintenance, adaptation and modernization of shelters for at risk youth, improving spaces for accommodation. Source: Comunidad de Madrid 16 14 43#44Education Use of proceeds: Revenue from the Sustainable Finance Instruments will be allocated to projects aimed at providing educational programs and vocational training to youth, as well as allowing for a successful integration of disadvantaged groups in the education system, preparing them for future labor market opportunities. Related expenditures include: . • . • • • . Construction, rehabilitation and maintenance of public education schools; Construction, rehabilitation and maintenance of public education centers; Acquisition of equipment to ensure a quality education in public education schools; Financing expenses related to home educational support service (SAED), hospital classrooms (AAHH) and therapeutic educational centers (CET); Financing educational programs and vocational training for young people at risk of exclusion or unemployed; Collaboration to support the integration of students with special educational needs; Expenses related to subsidized school transport services; Financing the development and maintenance of public universities; Providing financial support to university students, based on socioeconomic criteria such as income level and patrimony, or disabilities Source: Comunidad de Madrid 44#45Healthcare Use of proceeds: Revenue from the Sustainable Finance Instruments will be allocated to projects aimed at providing a modern and sustainable public healthcare service system to the citizens of Madrid (including, but not limited to, vulnerable groups). Related expenditures include: . . . Development, maintenance and modernization facilities integrated in the public healthcare service system (hospitals, health-care centers, mental health facilities, etc.); Provision of health care or social services in underdeveloped areas or vulnerable populations; Acquisition of medical equipment or provision of diagnostic services; Financing programs for the promotion of health; Financing activities to prevent and treat drug addiction. Source: Comunidad de Madrid 45#46Social Inclusion Use of proceeds: Revenue from the Sustainable Finance Instruments will be allocated to projects aimed at supporting, integrating and providing basic services to several vulnerable population groups (victims of domestic violence, the elderly, risk population and minorities, physically and/or disabled people, etc.) and to integrate, education and employment programs as well as financial assistance to vulnerable groups at risk of social exclusion. Related expenditures include: • . • • Fighting against domestic violence and promotion of equal opportunities; Support integration of families and individuals at risk (social action and education); Provision of financial assistance (i.e minimum income) to people at risk of social exclusion; Ensure universal accessibility to the public transportation system; ESTRATEGIA MADRILEÑA CONTRA LA VIOLENCIA DE GENERO 2016/2021 GAFE-ALSTAURANTS Robin food • Support to the elderly; • Support to the mentally and/or physically disabled Source: Comunidad de Madrid 1 Pre 46#47Economic Inclusion & SME Financing Use of proceeds: Revenue from the Sustainable Finance Instruments will be allocated to projects and programs aimed at promoting labor market entry opportunities for long-term unemployed or people with lower employment prospects, and financing SMEs in the Community of Madrid. This activity will contribute to the growth and development of Madrid's economy, hence promoting employment creation and retention. Related expenditures include: • • • • • • Supporting professional training directed at the unemployed in the Community of Madrid; Conducting studies and labor market research to plan and implement policies of employment; Support in orientation programs for those distant to the labor market that allow for a direct contact with employment agencies and employers; Promote integration in the labor market of persons with disabilities and those who are in risk of social exclusion. Provide finance to SME's, including start-ups in order to stimulate their competitiveness and job creation; Provide training and advising to commercial SMEs to help them improve their skills and business; Support SMEs in the Handicraft and Artisan Market to improve their competitiveness PRESUPUESTOS GENERALES DE LA COMUNIDAD DE MADRID 2019 4228 Servicio: MEMORIA DE PROGRAMA INDUSTRIA 12011 D.G. DE INDUSTRIA, ENERGÍA Y MINAS La Dirección General de Industria, Energía y M de la eficiencia energética, para reducir el ciudadanos madrileños, consiguiendo asi in reducir nuestra dependencia energética y coat Uno de los instrumentos más destacados de i que, además del ahorro de energía y la rec seguridad de las instalaciones y mentalizari importancia de la eficiencia energética. Desde cabo aproximadamente 715.000 actuaciones acumulado cercano a 200.000 toneladas equi de emisiones cercana a un millón de toneladas Para 2019 se continuará con los Planes Renov añadirán algunos nuevos que están en fase c Fundación de la Energía de la Comunidad de M Otro de los objetivos básicos de la Direcció Comunidad de Madrid. En este sentido, con e se considera necesario llevar a cabo actua industriales, para incrementar la competitivic más atractivas a nuevos inversores, que busca En concreto, se considera que lo más adecuac utilización de los fondos disponibles, es it industriales, lo que redundará en una mejora actividad, y, por tanto, en una mejora de su co En esta linea, se incentivará también la mej mediante la sustitución de lámparas y energéticamente y la instalación de regulado. incentivar el autoconsumo energético en la campos solares térmicos y fotovoltaicos, y de Por otra parte, se apoyará la utilización de combustibles fósiles convencionales. El impul movilidad más sostenible. En concreto, se ap recarga, cuyo despliegue permitirá cubrir las n consumo de energia, reduciendo a la vez su in En 2019 se continuará, por tanto, con el for para lograr un despliegue que permita la dive PROGRAMA: 433A Servicin MEMORIA DE PROGRAMA ECONOMÍA 12010 D.G. DE ECONOMÍA, ESTADÍSTICA Y COMPETITIVIDAD Siguiendo las directrices marcadas por el Gobierno de la Comunidad de Madrid, se consideran ejes prioritarios de la definición de la Politica Económica Regional la promoción y desarrollo económico y financiero y su transferencia al mundo empresarial, para lo que se precisa una rápida adaptación al las nuevas circunstancias que permitan no sólo evitar una pérdida de competitividad sina incluso liderar el proceso de innovación tecnológica. La primera fase de este proceso de mejora de la competitividad empresarial se realiza a través de la realización de informes, estudios investigaciones que permitan conocer tendencias en el comportamiento de la economía regional y de sus diferentes sectores, y, en consecuencia, permitan prever posibles lineas de actuación para last políticas públicas en favor del tejido empresarial y, en especial, de las pequeñas medianas empresas madrileñas que se están viendo alectadas en su funcionamiento y viabilidad. En el desarrollo de estos instrumentos y labores de análisis se cuenta con la permanente y activa. colaboración de los organismos y asociaciones representantes del tejido empresarial. Otro de los objetivos primordiales en materia de desarrollo económico es el apoyo a las politicas del mejora de la economía madrileña y de sus sectores productivos, a través del impulso a la competitividad y el empleo, por medio de la elaboración de planes y programas de actuación de sectores y colectivos especificos. En este marco y de acuerdo con las competencias asignadas a esta Dirección General, se establecen las líneas de actuación a fin de conseguir una actuación ágil, eficaz, eficiente y próxima a las necesidades de la economia regional. Por todo ello, en este ejercicio, se sigue apostando por el mayor conocimiento y análisis de la realidad económica de la región y por el impulso a la creación y desarrollo de nuevo tejido empresarial, entre los que cabe destacar los siguientes: Elaboración de estudios sobre diferentes sectores estratégicos y aspectos relevantes de la economía madrileña, sea de forma directa, mediante trabajo interno, sea a través de apoyo externo o por medio de colaboraciones con empresas u organismos especializados. Divulgación y publicación de las actuaciones de apoyo a la actividad empresarial por parte de Dirección General. - Promoción del conocimiento de la realidad socioeconómica a través de diferentes foros, seminarios y jornadas sobre la economía y el empleo en la región, así como a través de diversas publicaciones. Análisis y prospectiva del entorno económico regional, tanto en relación con el resto de regiones españolas como con las principales regiones europeas. Desarrollo y promoción económica y financiera del tejido empresarial atención a las pymes. Madrid, con especial - Apoyo y gestión del reafianzamiento de proyectos de inversión de pymes a través de Avalmadrid. Source: Comunidad de Madrid -34- 47#48Climate Change and Environmental Management Use of proceeds: Revenue from the Sustainable Finance Instruments will be allocated to financing the measures included in the Waste Strategy of the Community of Madrid, activities related to the management and restoration of Protected Natural Parks and other unique spaces with important conservation value (Zonas de Especial Conservacion), activities from the Climate Change Strategy of the Community of Madrid 2013-2020 (Plan Azul+) to promote the manufacture and use of electric vehicles and improve and promote accessibility to public transportation as well as the use of bicycles. Related expenditures include: • Funding the renewal of fleets that reduce pollution; . Funding the installation of charging ports for electric vehicles; • • • • • • • Promoting of the use of bicycle and public transport to ensure a modal shift from roads; Urban planning and development that leads to a reduction in the use of passenger cars; Measures to decrease the volume of waste generated; Treatment of electrical and electronic equipment waste ; Programs for new uses of recycled materials such as rubber from tires; Research studies on contaminated soils financing; Financing of conservation and restorative activities; Organization and financing of educational activities that facilitate and enhance the knowledge of the importance of the environmental spaces in the Community of Madrid Monitoring and development of the Forestry Plan of the Community of Madrid. Source: Comunidad de Madrid 48