BBVA invests in renewable power from wind sources in Argentina, doubling down on its environmental commitment
Within the framework of its Global Eco-efficiency Plan 2016-2020, BBVA recently signed an agreement in Argentina to buy electricity from wind farms, a clean source of electricity that uses wind turbines to transform wind energy into electric power.
With this agreement, BBVA becomes one of the first financial institutions to join the Argentine Renewable Energy Futures Market (MATER), the regulated market where private parties buy and sell renewable energy.
From August 1, the Reconquista 199 building will start sourcing 80 percent of its energy needs from non-polluting sources. The agreement will also allow preventing up to 1,500 tons in carbon emissions per year, an important step towards the company’s decarbonization target.
"At BBVA we are aware of - and take responsibility over - our environmental impact. With the aim of building an increasingly sustainable and eco-efficient bank, we have signed an agreement that contributes to reducing our carbon footprint," said BBVA Argentina Head of Real Estate, Services and Labor Relations Fabián Montiel.
"With the aim of building an increasingly sustainable and eco-efficient bank, we signed an agreement that contributes to reducing our carbon footprint."
In its latest year-end report, BBVA reaffirmed its commitment in Argentina to building an increasingly sustainable bank, and underscored its permanent commitment to the ten principles of the UN Global Compact that promote human, labor and environmental rights.
The Group is rolling out a series of initiatives globally, within the framework of its Global Eco-efficiency Plan 2016-2020, aimed at curtailing the environmental footprint of its bank’s activity across the planet.
As a result of this commitment, BBVA Argentina has reduced its paper consumption by 40 percent and water consumption by 13 percent on a year on year basis. The company has also reduced its carbon emissions and outlined a new purpose that includes the elimination of plastic in all its corporate buildings.
The bank also certified 140 branches and its 4 flagship buildings, including the Torre BBVA, under the ISO 14001:2015 standard following the assessment conducted by international consultancy DNV-GL. This certification entails complying with a set of provisions establishing a number of requirements to control the environmental impact of the activities carried out by any type of organization.