BBVA, the first Spanish bank to support the Climate Change initiative prior to the Global Compact Leaders Summit

• In 2002, the BBVA Group pledged to uphold the principles of the UN Global Compact

• For BBVA, this endorsement is framed within its policy of Corporate Responsibility, being a direct result of its commitment to the environment expressed in its Environmental Policy

     Coinciding with the Global Compact Leaders Summit, held in Geneva, with the participation of BBVA’s Chairman, Francisco González, the Bank has formally adhered to the Statement "Caring for Climate: The Business Leadership Platform", fostered on a three-way basis by the United Nations Environment Programme, the United Nations Global Compact and the World Business Council for Sustainable Development.

     In 2002, the BBVA Group pledged to uphold the principles of the UN Global Compact, and since then, insofar as the environment is concerned, a hands-on approach has been adopted within the organisation in order to fulfil the Compact’s three environmental principles:

   - Business should support a precautionary approach to environmental challenges.
   - Business should undertake initiatives to promote greater environmental responsibility.
   - Business should encourage the development and diffusion of environmentally friendly technologies.

     This statement is a commitment to voluntary involvement by those businesses interested in advancing in the quest for solutions to Climate Change. Through their support for this initiative, businesses acknowledge that climate change is a problem that requires action to be taken by governments, companies and citizens, and one that presents major risks and opportunities for organisations.

     In addition to BBVA, some of the world’s largest corporations are already on the list of subscribers, such as: Telefónica, Wespac, Unilever, El Corte Inglés, Repsol and Deutsche Telecom, amongst others.

     For BBVA, this endorsement is framed within its policy of Corporate Responsibility, being a direct result of its commitment to the environment expressed in its Environmental Policy, approved in 2003. The Statement on Climate Change is fully consistent with the pledges laid down in the aforementioned policy, whose main points are, amongst others, the inclusion of environmental risks in the assessment of financial transactions, the development of products and services in environmental matters and efficiency in the use of natural resources.

     Accordingly, through its endorsement of this initiative, BBVA reaffirms its position as a committed and responsible company seeking solutions to mitigate and prevent the consequences of climate change, within a scenario of necessary compatibility between the environment and business activity.

For further information visit "Caring for Climate: The Business Leadership Platform".