In 2008, BBVA’s Pension Plan for employees in Spain became the first Pension Plan to be managed according to Socially Responsible Investment (SRI) criteria for the totality of the financial resources managed while adhering to the Responsible Investment Principles (RIP) of the United Nations. These initiatives of high social significance were agreed to by the Control Commission of the fund, members of which are BBVA, the CCOO, UGT, Federation of Managers and CGT unions and beneficiary representatives. | |
The criteria for Socially Responsible Investment (SRI) include environmental, social and corporate government (ESG) criteria when analyzing investment decision-making. In 2009, the Control Commission decided to take a step further along these lines and carried out the first sustainability rating of the Pension Plan on the totality of its investments with the two-fold purpose of guaranteeing that the investments were managed according to SRI criteria and providing it with maximum transparency and recognition. This step was based on the confidence that active management of ESG risks can contribute, in the long term, to obtaining greater profitability in the investment portofolio. Among the three specialized companies recognized for their solvency that were invited to bid, the analysis was awarded by the BBVA Pension Plan Control Commission to Analistas Internacionales en Sosteniblidad (AIS), of the Triodos Group, one of the most prestigious sustainability agencies in the world. The first goal of the certification established by AIS is to measure the degree of sustainability of the Pension Plan by analyzing the risks and social, environmental and corporate government opportunities contained in the portofolio, from the perspective of greater generation of company value and ESG risk control. To carry out this goal, AIS, in association with Sustainalytics, will analyze more than 2,200 securities listed in the Stock Exchange, based on environmental, social and corporate government criteria, taking into consideration the corporate relationships with the primary groups of interest affected by their activity. |
This measure reinforces BBVA’s leadership in SRI in Spain and makes it a point of reference for the adoption of management criteria regarding environmental, social, ethical and corporate government risk in the market. By taking this measure, BBVA has also foreseen the growing sensitivity for the provision of greater information transparency and has integrated it in Pension Plan management. Annexed files: UN Principles of Socially Responsible Investment (PRI) |
