BBVA Asset Management announces its commitment to support achieving zero carbon emissions
BBVA Asset Management has announced its commitment to support reducing net greenhouse gas emissions to zero by the year 2050, in line with global efforts to limit global warming to 1.5°C. To this end, the asset manager is committed to including investments that are in line with this goal in its portfolios.
BBVA Asset Management has undertaken to support the companies in which it invests in their decarbonization goals. It also undertakes to set mid-term decarbonization targets for 2030 for assets under management and to review that mid-term target at least every five years, with a view to increasing the proportion of managed assets covered until 100% of assets are included.
This commitment by BBVA Asset Management is in line with the BBVA Group's sustainability policy, which in April 2021 joined the Net-Zero Banking Alliance (NZBA) and has also announced its commitment to reduce exposure to carbon-related activities to zero. To do this, it will accompany its customers on this path, supporting them with financing and advisory services in their transition to sustainable energy models. BBVA will stop financing clients whose coal-based activities represent more than 5% of their revenues, as stated in its updated BBVA Environmental and Social Framework.
BBVA Asset Management has implemented a Sustainability Plan, which extends throughout the entire organization. This plan aims to incorporate sustainability criteria into the investment process of all managed vehicles and is based on four pillars: commitment, exclusion, integration and impact strategy.