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Sustainability and Responsible Banking

Sustainability and Responsible Banking

BBVA is celebrating the World Day for Reducing CO2 Emissions by reaffirming its environmental policy to develop a more sustainable economy. BBVA has committed to be neutral in terms of CO2 emissions in 2020. As of January 1st, it has assigned an internal price for its emissions, thus incorporating this factor into decision-making processes, as BBVA Group Executive Chairman Carlos Torres Vila recently announced. This measure is part of BBVA’s broader effort to align its activity with the Paris Agreement and cut its direct and indirect emissions. BBVA will light its Madrid headquarters building in blue in commemoration of this international day.

BBVA’s Group executive chairman participated in a debate organized by CNBC at Davos to discuss what financial institutions can do to mobilize resources for a more sustainable development. Carlos Torres Vila pointed to the bank’s commitment - not only to mobilize resources, but to accompany its clients in this change. “Advising our clients in their environmental transition is an integral part of BBVA’s strategy,” he said.

Larry Fink, CEO of BlackRock, warns that his asset management company (the world's largest) will take action against investee companies that do not consider sustainability. "We will be increasingly disposed to vote against management and board directors when companies are not making sufficient progress," he warns in his annual letter to the CEOs of the world's leading companies.

At the forum entitled `Después de la Cumbre del Clima ¿Ahora qué?´ (The Climate Conference has ended, now what?, in English), Global Head of Responsible Business in BBVA, AntoniBallabriga, reflected on the steps that the banking sector must take following COP25. While acknowledging the "insufficient" results of the conference, he remarked that, "It marked another step toward reaching global agreements," in which BBVA has actively participated. He highlighted the banking sector´s role in providing support and advice in the energy transition process.

The 7th Survey on the Saving Habits of the Spanish Population; prepared by Instituto BBVA de Pensiones-Mi Jubilación (BBVA Retirement Pensions Institute – My Retirement), focuses on the Spanish baby boomer generation. The survey offers very revealing insights into the perception that people born between 1957 and 1977 (aged 42 to 62) have about their financial standing regarding their retirement. Elisa Chuliá, a member of the Forum of Experts of the BBVA Retirement Institute has taken a deep look a the survey’s results to narrow down the financial traits that define this generation.