BBVA Asset Management donates more than one million euros to 27 charity projects
BBVA Asset Management has announced the 27 winning projects of the second round of awards granted by the BBVA Sustainable Future SRI fund. In total, the fund manager will donate more than one million euros to NGOs throughout Spain.
The BBVA Sustainable Future Fund makes socially responsible investments and is committed to charity initiatives. In fact, it has pledged to donate 25% of its total annual management fees to projects related to the environment, dependent individuals, and social inclusion. At the end of 2019, this fund had €967 million in assets under management, which means it donated €1.2 million. The proceeds will be distributed among 27 solidarity projects across Spain.
The BBVA asset manager has received a total of 232 requests, of which 181 met the requirements. 34% are projects related to social inclusion, 50% to health, the elderly and dependent individuals, and 16% to the environment. Of the 27 winning initiatives, three are national and three for each of BBVA in Spain's seven regions—each of these projects receives 37,090 euros. In addition, a category called Grand Prizes has been created, with 100,000 euros for each of the three winning projects.
“Sustainable Future SRI is an example of BBVA's commitment to helping its clients in the transition to a more sustainable and inclusive world, while investing with sustainable criteria and donating part of its fees to projects related to the environment, dependent people and social inclusion," said Luis Megías, CEO of BBVA AM.
The BBVA Sustainable Future Fund was chosen as the best charitable investment fund at the Expansión - Allfunds awards ceremony for the best investment funds in 2019 held in March. This is a multi-asset solidarity fund with an international mixed fixed income investment strategy, which takes a holistic approach to socially responsible investment in all its facets: the application of SRI criteria to all asset classes; objective measurement of SRI criteria to identify quality companies and governments committed to sustainable practices; the exclusion of controversial activities, countries, and companies, and the incorporation of sustainable impact issues such as nutrition, energy efficiency, and the fight against climate change.