At BBVA we have moved a step further in integrating our corporate information, with the publication of the BBVA report in 2015. Thus, after 13 Corporate Responsibility reports, for the first time all of the Group’s non-financial information has been published alongside the financial data, in one document.
We are thus aligned with our stakeholders’ demands and the regulatory trend, which is increasingly putting more focus on this type of information. From 2017, the EU Directive on non-financial information will force European companies with over 500 employees to report on their social, environmental, economic and corporate governance impacts, which represents a very significant advance.
This report has been prepared following the guidelines established by the framework of the International Integrated Reporting Council (IIRC). It incorporates information on the Group’s context and strategy in an environment that is in full transformation; it describes our comprehensive risk management model from the most traditional to reputational aspects; and it evaluates the Group’s performance in 2015, not only from a financial standpoint, but our relationships with key stakeholders: our customers, employees, shareholders, regulators, suppliers and society in general.
In this respect the model has also been followed for applying the concept of capital driven by the <IR> Banking Network, BBVA group that it has been part of since its inception.
In preparing the report, the Global Reporting Initiative (GRI G4) Sustainability Reporting Guidelines have also been followed, which is the main worldwide reporting standard, with the contents of its financial supplement also having been included with a comprehensive compliance option.
The report summarizes the year’s main highlights, from a value creation standpoint. It highlights the progress of our Responsible Business Plan, which culminated in 2015 by achieving the goals set around three strategic priorities:
- Transparent, clear and responsible communication (TCR): in the past year, we have intensified work to help our customers make informed decisions throughout the entire life cycle of their relationship with the bank. This work is embodied in 80% coverage of product sheets (single document containing all the information on the product that is provided to the customer) with TCR criteria in the Group, 22 products covered by TCR contracts, and implementation of the advertising code, which became mandatory in 2015, among other advances.
- Financial literacy: since launching the Plan in 2013, almost 4.2 million people and 126,000 SMEs have participated in our financial literacy programs, in which we have invested more than 43 million euros.
- Solutions with high social impact: this includes the work of the BBVA Microfinance Foundation in Latin America, which at the end of 2015 served more than 1.7 million entrepreneurs, 83% of whom are in a vulnerable situation. In 2015 we achieved our goal of contributing to the creation of 10,000 jobs through economic and educational assistance to SMEs and the self-employed as part of the program Yo Soy Empleo. In addition, we have continued to offer solutions to all families struggling to pay their mortgages.
In line with the trend begun several years, the report tries to reflect, in a simple and direct manner, the impact of our activity on the societies in which we operate. In this regard, it should be highlighted that in 2015:
- we invested over 103 million euros in social programs, 3.9% of net attributable profit
- we supported 1,720,968 SMEs, micro enterprises and self-employed individuals through more than 23.5 billion euros of funding
- we financed 1.7 million homes
- our total tax contribution amounted to 8.157 billion euros worldwide
2015 was also the closing year of the Global Eco-Efficiency Plan, which ended achieving the reduction targets set in terms of the consumption of paper, water and energy, CO2 emissions and environmental certification of our buildings.
In short, BBVA’s publication in 2015 represents a milestone in our reporting model, which highlights the Group’s commitment to transparency, one of our three corporate principles.
Access the full BBVA in 2015 report.