BBVA's sustainability strategy & milestones
BBVA has been working on sustainability for years and has positioned itself as one of the global leaders in sustainable finance. The results of these efforts can be seen in its presence in the main sustainability indices, such as the Dow Jones Sustainability Index, where BBVA is the first European bank and third in the world. The bank has also been an active promoter of some of the most relevant international sustainable finance initiatives, such as the UN Principles for Responsible Banking.
Sustainability is one of the six strategic priorities of BBVA Group, and a good example of BBVA’s leadership and commitment to sustainability is the bank’s Pledge 2025 initiative, which seeks to mobilize EUR 200 billion of capital to fight climate change and drive sustainable development by 2025.
Additionally, in 2021 BBVA announced its NetZero plan, committing to reduce to zero the bank’s exposure to activities related to coal by no longer financing companies in those activities. And the bank will do so by 2030 in developed countries and by 2040 in other countries.
BBVA believes that its role as a bank goes beyond simply financing. BBVA has integrated sustainability into everything it does: from being carbon neutral in its own organization, to innovating across its wholesale banking sustainable products ranging from bonds to corporate loans, to a sustainable framework for transactional banking, as well as more specific products such as derivatives and foreign exchange operations. The bank is also scaling up its sustainable finance advisory teams to offer the clients the best solutions anytime, anywhere.
BBVA wants to support and accompany its clients in their transition to a more sustainable business model.
The bank aspires to be recognized as a strategic partner by their clients in matters of sustainability, providing better advice, assessing its strategic impact and supporting those transformation initiatives that best respond to the social and environmental challenges posed by climate change, while offering liquidity and sustainable financing to anticipate and meet clients’ needs in relation to their sustainable transition.
BBVA has a proven track record in sustainability: