BBVA’s shareholders gift for the Annual General Meeting will be given to charitable causes
In order to help alleviate the effects of COVID-19 on the most vulnerable, BBVA will make a charitable contribution in Spain in replacement of the traditional gift given to shareholders for the Annual General Meeting. It will be the shareholders who vote on which of four causes they prefer for the donation from this gift: social inclusion, education, health and people with disabilities.
BBVA will allocate a total of €300,000 to these four social projects. The distribution of funds will be as follows: each of the four winning institutions will receive €50,000 and an additional amount depending on the number of votes from BBVA shareholders, which will result in an additional €100,000 to be distributed among the institutions.
Shareholders will be able to vote on the impact areas of social inclusion, education, health and people with disabilities, and not on specific organizations. Thus, this year, in addition to the attendance cards, vote and delegation for the Annual General Meeting, the shareholders with the right to attend receive a card with information on these charitable initiatives. This card contains a QR code that redirects them to BBVA’s Shareholders and Investors website, so that they can vote on the area to which they would like to allocate the amount from their shareholder gift.
BBVA has invited a total of 13 social organizations to participate in this call for proposals. They were selected based on a series of strict criteria. They are all organizations that have either collaborated with BBVA on volunteering initiatives; on other projects that do not entail receiving funding in the 2019-2020 period; or have requested financial support from BBVA during the same period and did not receive it. In addition, they are organizations experienced in some of the previously mentioned impact areas, and have projects nationwide. These organizations must also be accredited by Fundación Lealtad.
A multidisciplinary jury comprised of BBVA representatives and of four leading social organizations (Fundación Lealtad, Fundación ONCE, FAD and Cáritas) will vote to select the four winning organizations. They will take into account factors like the organization’s strength, and the impact and viability of the project, among other things. These organizations also commit to present an annual report on the implementation of the selected project. The winning organizations will be announced on the day of BBVA’s Annual General Meeting.
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