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Shareholders' meeting 20 Apr 2021

Carlos Torres Vila takes stock of 2020 and announces pledge to making BBVA carbon neutral by 2050

At BBVA Annual General Meeting, Carlos Torres Vila took stock of last year and unveiled a new objective in the bank´s fight against climate change. “Today, we are announcing BBVA’s commitment to becoming carbon neutral by 2050. With this commitment, we are moving the baseline scenario in the Paris Agreement forward by 20 years,” he said.

In his opinion: “The fight against climate change requires everyone’s involvement. In addition to being a necessity for the planet, it is also, without a doubt, an opportunity.” He also assured that, “we want to help our clients in their transition toward a more sustainable and inclusive world, with financing, advisory services and innovative solutions.”

As for 2020, he recalled the bank’s strategy in facing the COVID pandemic. “Since the very beginning, the response from BBVA teams has been exemplary,” prioritizing and “protecting the health and well-being of everyone while continuing to provide an essential service to society.” He also offered “a message of support to all those who have lost a loved one, and to those who are suffering from the economic effects of this crisis.”

In closing, he addressed the bank´s full year results. “Despite the environment, in 2020, we obtained a profit of €3.08 billion without extraordinary items, and we continue to lead European banks in efficiency and profitability.” In his opinion, a major milestone this year was the sale of our U.S subsidiary. A very attractive transaction that puts us in a position of extraordinary strength to increase shareholder distribution. And also to move forward in our growth strategy, with a focus on digitization and sustainability.”

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