Commitment

“BBVA is a great ally for Spanish companies as they take on their sustainable transition and international expansion,” remarked Javier Rodríguez Soler, Global Head of Sustainability and CIB at BBVA. His presentation was part of the 41st Seminar organized by Spanish financial press association APIE and titled ‘The role of businesses in the new economy’, being held in Santander. “At BBVA, we support and accompany our clients, and not only multinational firms, but also those companies that need more specific advice to help them continue to grow,” he said.

BBVA will issue a total amount of $50 million and the resources will be used to  finance projects focusing on reforestation, the regeneration of natural forests on degraded land, mangrove conservation or restoration, climate-smart agriculture, and wildlife habitat restoration, among others.

BBVA has received the 'Alcance 3.0' award for the 'Best Comprehensive Scope 3 Emissions Reduction Strategy'. This award, presented by the CPOnet Group, recognizes the efforts of organizations that help reduce emissions in their value chain: suppliers, customers, employees, partners, shareholders and society.

Antoni Ballabriga, Global Head of Sustainability Intelligence & Advocacy at BBVA and member of the EU High-Level Expert Group (HLEG) on Scaling Up Sustainable Finance in Low and Middle-income Countries, explains the key findings and recommendations that the HLEG will submit to the European Commission.

Garanti BBVA International, a Garanti BBVA subsidiary known for its ongoing sustainable financing initiatives, has reached an agreement with Kordsa Teknik Tekstil A.Ş. (Kordsa) for a $50 million sustainable loan.

BBVA mobilized €20 billion in sustainable business in the first quarter of 2024, up 41 percent on the same period last year. The bank is now ahead of the curve in achieving its goal of mobilizing €300 billion between 2018 and 2025, having already reached €226 billion. Of this figure, 77 percent will go toward combating climate change and 23 percent to promoting inclusive growth.

Once again, BBVA has been busy promoting sustainability training among 418 of its suppliers and SME customers across 13 countries in which it operates. A total of 552 people will soon be taking part in the UN Global Compact Sustainable Suppliers Training Programme, of whom 59% (326) are women.

In 2023, 96 percent of power consumption at BBVA Group facilities came from renewable sources, well above the 70 percent target set for 2025. In Spain, Portugal, Colombia, Uruguay, Mexico, Peru and Türkiye, 100 percent of the bank’s power usage comes from clean energy sources.

For the fourth consecutive year, on the occasion of its Annual General Meeting (AGM), the bank will donate €300,000 to social non-profits active in four areas related to the environment and inclusive growth. Asociación Talismán, Fundación Emet, Asociación Puente de Esperanza Madrid and Fundación Madre Coraje were the chosen candidates 2024.

BBVA closed 2023 reporting good progress in decarbonizing its credit portfolio. Improvements in plan delivery reached 24 percent in key sectors —such as oil and gas— for which 2030 targets were set. As of December 2023, 80% of the finance portfolio in high-emission sectors relates to clients actively managing their transition, according to the latest TCFD report published by the bank.

Garanti BBVA CEO Recep Baştuğ has secured the top spot among finance executives and seventh place overall in the latest annual "Türkiye’s Sustainability Leaders" ranking, published by the Turkish franchise of leading business magazine Fast Company.

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.

COP28 has ended and following intense debates and difficult consensus, we have seen considerable progress in the development of sustainable cooling. Refrigeration is not only necessary for the life of numerous households - it is essential for sectors such as food, logistics, digital technology and tourism.

BBVA set a record annual figure for sustainable business in 2023: €70 billion, up 39 percent on the figure reported in 2022, as sustainability now permeates all segments and because the bank serves a wide range of industries.

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As part of its strategic commitment to sustainability and inclusive growth, Garanti BBVA continues to host its series of events around the theme 'Sustainable Future in Exports.' The fourth installment of the series—previously held in Istanbul, Gaziantep, and İzmir—unfolded this year in Bursa.

The two institutions will provide finance to boost the country's foreign trade through an expansion of the facilities at Uruguay's premier port. The total outlay comes to $340 million.

As part of its efforts to further increase financing for renewable energy projects, Garanti BBVA recently announced an agreement to provide €36.1 million in financing to Galatya Energy Production Inc. for the Işıklar Wind Power Plant.

It is the BBVA Group’s first ever blue bond, which are securities used to finance projects geared toward ocean sustainability and the Blue Economy.

76 percent of BBVA’s lending portfolio corresponds to clients in emission heavy sectors that are making progress in their transition to net zero emissions, according to the latest update to BBVA’s sustainability strategy, published November 3rd. The document underscores how the bank promotes new businesses through sustainability.

With BBVA financing, Supermercados Peruanos seeks to have a direct impact on the percentage of recycled waste and to increase the number of people benefiting from its food donation program ‘Bueno por dentro’ (Good on the inside).

The events aim to provide support and guidance for sectors and institutions impacted by both the European Green Deal and Carbon Border Regulation processes.

BBVA Chair Carlos Torres Vila stated that "the investment necessary for the economy to function without emissions must make economic sense, since a large part of it will come from the private sector." At a round table hosted by UNEP FI in Madrid, he stressed that "decarbonization will occur when investments in emerging green technologies prove profitable."

From April to June 2023, BBVA channeled around €19 billion in sustainable business. This figure, showing growth of around 30 percent compared to the same period of the previous year, sets a new quarterly record. In total, BBVA channeled €169 billion in sustainable business from 2018 to June 2023, well over half of the €300 billion target laid down for the 2018-2025 period.

BBVA has been recognized for its Outstanding Financial Leadership in Sustaining Communities at a global level, at the Global Finance magazine's Sustainable Finance Awards 2023. The bank also won three other regional awards in different sustainability-related categories.

BBVA is repeating as the only Spanish bank on the Steering Committee of the Net-Zero Banking Alliance (NZBA). The bank has been a founding member of this alliance since April 2021. NZBA is a forum promoted by United Nations that defines the frame of reference for the decarbonization of the banking sector: a robust, science-based framework that underpins the credibility of the voluntary commitments.