BBVA, recognized in S&P Global’s Sustainability Yearbook 2024
BBVA has been recognized yet another year in the latest edition of S&P Global’s Sustainability Yearbook. BBVA is among the top 5 percent of the world’s most sustainable banks, according to this ranking published today. The yearbook distinguishes leading sustainability companies in 62 sectors.
In this edition, S&P evaluated 9,400 companies, analyzed 174,000 documents and collected 16.5 million data points.
In December 2023, this thinktank recognized BBVA as the most sustainable bank in Europe for the fourth year in a row in the Dow Jones Sustainability Index, the leading global index on sustainability.
BBVA had a total score of 84 points out of a possible 100. The financial institution received 84 points in the economics and corporate governance areas; 70 points in the environment and 89 for social issues. Furthermore, it received the highest possible score (100 points) in several areas: transparency and reporting; fiscal strategy; human rights; and customer relations.
BBVA in sustainability indexes
BBVA is included in the main international sustainability indexes, including MSCI ESG Leaders Indexes, FTSE4Good Index and, for the sixth consecutive year, the Bloomberg Gender Equality Index.
The bank was also recognized by Being selected by, and remaining on these indexes requires organizations to demonstrate constant progress in sustainability and influences their eligibility for investment portfolios, which place increasing importance on non-financial factors.
Commitment to sustainability
BBVA has put sustainability at the core of its business and it is one of its six strategic priorities to overcome three major challenges: fighting climate change; preserving natural capital; and promoting inclusive growth, with two main objectives:
- Fostering new business through sustainability: the bank has mobilized €206 billion in sustainable business from 2018 to 2023, and is ahead of schedule to meet its target of €300 billion by 2025.
- Reaching net zero emissions by 2050. In addition to the decarbonization targets set for 2030 in eight sectors (oil and gas, power generation, the automotive industry, steel, cement, coal, aviation and shipping), BBVA is working on establishing targets for other sectors, such as aluminum, agriculture, and commercial and residential real estate. In 2023, for the first time, the bank published its clients’ progress in decarbonization in the initial version of the bank’s climate transition plan.
Furthermore, BBVA reached €108 million in decarbonization funds last year through investments that helped to make the bank a pioneer in financing innovative companies and business models in this field.
Moreover, BBVA is committed to having a positive impact on society, with a special focus on education and support for entrepreneurship. For this reason, the bank participates in numerous initiatives and partnerships, and is actively involved with stakeholders to promote sustainability in the financial system. The bank’s Community Community remains in force, through which it will allocate €550 million between 2021 and 2025 to social initiatives to support inclusive growth in the countries where it has a presence.
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