26 March 2024

World Climate Day: Sustainability is a strategic priority of BBVA CIB

Every year on 26 March is World Climate Day, an event that was proclaimed in 1992 as part of the UN Convention on Climate Change. Since then, this day has been intended to raise awareness of the impact of human behavior and activities on climate change and to draw attention to the urgency of tackling this problem as quickly as possible.

In a world where environmental and social challenges are becoming ever more apparent, the ability of financial institutions to act as a catalyst for sustainable change is crucial. In this respect, BBVA CIB has made sustainability a strategic priority. For years, there has been a radical shift in companies' business models towards decarbonisation, not only to achieve a positive social impact, but also because there are now other, more competitive business models where the application of ESG criteria and practices allows them to gain market share in a more efficient way.

Specifically, in its corporate and investment banking division (BBVA CIB), the bank employs a model based on knowledge and proximity to the client, aiming to support them through their transition. This approach focuses on establishing solid, long-term relationships and prioritizing the sustainability of its production models.

Sustainable business at BBVA

BBVA CIB significantly contributes to BBVA's stated goal of sustainable business. This commitment, essential for global economic growth, is demonstrated through the incorporation of responsible practices in its operations and investment strategies. The area offers a global advisory service specialized by sector and sustainable financing solutions that enable clients to implement their decarbonisation plans and meet their other environmental, social and inclusive growth objectives.

In 2023 BBVA, which aims to mobilise €300 billion in sustainable business, reached an annual record of €70 billion, 39% more than in 2022. Sustainable mobilisation within corporate businesses grew by 99%; in retail banking, it saw an increase of 43%; and within BBVA CIB, it rose by 20%. In 2023, BBVA CIB devoted over €40 billion to sustainability initiatives. The bulk of this, exceeding €35 billion, was aimed at addressing climate change, with approximately 4.5 billion euros boosting inclusive growth. These investments underline the firm's dedication to eco-friendly and social infrastructure, as well as advanced decarbonisation strategies.

BBVA Greenfluencers: inspiration to build a better future

Emphasizing sustainability fosters improved strategic dialogue with clients and presents an excellent business opportunity. For this reason, and with the aim of sharing all the best practices, initiatives and experiences gathered by BBVA Corporate and Investment Banking, BBVA Greenfluencers was launched in 2022. BBVA Greenfluencers is a monthly newsletter in which the bank shares its ESG expertise through relaxed and informal video interviews. Our business specialists engage with representatives from companies at various stages of their sustainable transition. All Greenfluencers are an inspiration and contribute to building a better future, as well as opening a dialogue that enhances the understanding of the different challenges the corporate world faces in the realm of sustainability.

Through initiatives like BBVA Greenfluencers, the bank aims to encourage strategic dialogue with its clients, as well as inspire shift towards a more sustainable future.  In light of the crucial need for collective action, these measures exemplify the support that financial institutions can play in accompanying clients in forging a fairer, more resilient world that can address climate change challenges.