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Diversity 27 Jan 2021

Bloomberg recognizes BBVA's strategy on gender equality

BBVA was included in the Bloomberg Gender-Equality Index for the fourth consecutive year. The financial institution, which has placed diversity as a business objective, improved its rating by five percentage points compared to previous editions thanks to its policies of promoting equal opportunities in professional growth and an inclusive corporate culture, according to the international agency. Garanti BBVA, the Group´s Turkish subsidiary, is also included in the index.

For Carlos Casas, BBVA’s Global Head of Talent and Culture, “diversity is embedded in the bank’s purpose and our values, it is one of BBVA’s hallmarks and we all work to make it possible.” The executive points out that “being part of the Bloomberg index for the fourth consecutive year indicates that we are on the right track for creating work environments of trust and equal opportunities for all our employees, independent of their gender.”

BBVA incorporates diversity and inclusion as one more business objective, with its own objectives in each area of the bank, while placing equality as a strategic priority. In 2020, the bank’s Board of Directors increased the percentage of women represented from 19% to 33% (5 directors out of 15 members). In December, the bank set a new target to increase female representation on the Board to 40% before the end of 2022, without ever falling below 30%.

In this edition, the benchmark annual report on inclusion and diversity has included 380 companies from 44 countries and 11 economic sectors, all of them committed to developing policies, representation and transparency that reinforce gender equality. “The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data that investors are demanding today,” said Peter T. Grauer, Chairman of Bloomberg. “Their commitment to disclosure is making the business case for inclusion, and driving transparency in the markets,” he added.

The good score that BBVA received, a five percentage point improvement, is largely due to the bank’s policies on equality and the promotion of professional growth for women at BBVA, as well as the fostering and implementation of an inclusive corporate culture. The report highlighted the institution’s action plans to close the gender pay gap, as well as policies and programs that contribute to an inclusive work environment with equal opportunities for all employees.

For its part, Garanti BBVA, a BBVA subsidiary in Turkey, has one again been included in the Bloomberg Index.

BBVA, a success story at the United Nations

Inclusion in the Bloomberg Index comes on the tails of another recent international recognition. UN Women, the United Nations organization dedicated to promoting gender equality and the empowerment of women, has compiled the best business practices in this area in a new study. Its objective is to share government and company success stories to promote gender equality in the workplace, the market and society.

Among outstanding initiatives, the organization chose BBVA´s ´Work better. Enjoy life’ program. The institution’s productivity and work life balance plan, launched in November 2019, includes bolder and more visible measures for achieving time efficiency among its employees such as digital disconnection and the closure of the bank’s corporate headquarters in Spain at 7pm. Initiatives to create an attractive environment for employees, company efficiency, and that also ensure equal opportunities.

A benchmark in sustainability indices

In addition to the aforementioned Bloomberg Gender-Equality Index, BBVA is present in other international sustainability indices or ESG (Environmental, Social and Governance) indices, which evaluate the performance of companies in these matters. Among them: the Dow Jones Sustainability Indices, as a member of DJSI World and DJSI Europe; MSCI, as a member of the MSCI ESG Leaders Indexes; FTSE4Good, as a member of the FTSE4Good Index Series; Euronext Vigeo, as a member of the Euronext Vigeo Eurozone 120 and Europe 120 indices; Ethibel Sustainability Excellence, specifically in Ethibel Sustainability Excellence Europe and Ethibel Sustainability Excellence Global and finally, it is included as one of the leaders in the index of companies that fight against climate change, prepared annually by the Carbon Disclosure Project (CDP).

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