16 January 2024

“At BBVA CIB, our objective is to proactively accompany our clients in their transition”

María Ángeles Baena, Sustainability Solutions Discipline Leader

Since 2020, BBVA Corporate & Investment Banking has been working on the implementation of a sustainability strategy that complements and accompanies the Group's global strategy, in which sustainability is a fundamental value reflected in a very clear priority: advise and accompany our clients in their transition toward a greener and more inclusive future.

At BBVA CIB, we have taken this priority, we have made it our own and, placing our clients at the center, we proactively seek ways to accompany them in their transition toward a low carbon economy.

Although our plan is alive and has been evolving and adapting to the reality of our clients and the markets in which we operate, there are certain common factors that represent the driving force of our strategy and that allow BBVA to be one of the pioneering institutions in sustainability in the field of corporate and investment banking.

Firstly, our big bets. These are the market niches in which we think we have a competitive advantage either due to our knowledge of the sector, our product capabilities, or our expertise in sustainability. These initiatives have the full support of the organization at a global level and allow us to harness market opportunities that we would not otherwise be able to reach. These initiatives include the development of factoring linked to sustainability, or our commitment to financing new green technologies.

A second group of projects is supported by our sustainable expertise to achieve a greater depth in the strategic dialogue with large corporate clients. To this end, we have a team of professionals with deep knowledge of the implications of the energy transition and decarbonization in each sector, whose mission is to connect these needs with the support that we can offer them through our catalog of financial products and services.

Innovation is the third pillar of our strategy. At BBVA CIB, we have always been at the forefront of creating and participating in new sustainable financial products. Back in 2004, we adhered to the Equator Principles, we have participated in the first issues in the history of green bonds and social bonds... and, today, we continue working on the launch of new products that allow us to finance the needs of our clients, while supporting their sustainable transformation.

Furthermore, at BBVA CIB, we are directly responsible for supporting the BBVA Group to achieve its commitment to be Net Zero in 2050, through the alignment of our loan portfolio (which constitutes a large part of the Group's scope 3 emissions). To this end, we must help our clients reduce emissions, financing the transformation of their production models. To align our portfolio, it is key to continue deepening our knowledge of each sector and the impact of new green technologies. We are already hard at work on these initiatives.

Last but not least, there is a final group of levers, known as enablers, which help us to execute the entire strategic plan as a whole. This group includes initiatives in relation to strengthening our sustainable brand, such as BBVA Greenfluencers; or the implementation of technological and data projects, which is one of the major pain points when it comes to sustainability.

Looking ahead, our strategy must continue to evolve and adapt to the new needs of our clients and the requirements imposed by regulators. In fact, we are working with BBVA's Global Sustainability Area to analyze new potential lines of action related, for example, to water or biodiversity.

In short, at BBVA CIB we have a solid strategy that has sustainability as a priority and that, placing customers at the center of our business, seeks to develop the knowledge and product capabilities required to accompany them in their transition.