The rise in the global temperature has negative effects on the planet – effects that are difficult to revert in some cases. Increasing frequent heat waves, devasating fires – like the recent fires in California – and natural disasters like tropical cyclones, floods and droughts, have had an enormous impact on the environment and socioeconomic development.

BBVA CEO Onur Genç stated that: “Today, more than ever, banks play an important role in addressing the sustainability challenge.” In his opinion, “Only banks can play a central role in  distributing the resources, which is a key part of the climate change challenge.” The executive made these remarks at the 15th IESE Banking Industry.

BBVA participated at a conference in Luxembourg organized by United Nations Environment Programme Finance Initiative (UNEP FI). During the forum, which coincided with the start of the Climate Summit in Madrid, BBVA laid out its strategy to help its customers transition toward a low-carbon economy and integrate climate risks into their decision-making.

The consequences of climate change are already so obvious, it is hard to deny the extreme situation the planet is facing a climate emergency situation. The growing number of natural disasters, outbreaks of forest fires, and the extinction of hundreds of species are some of the most alarming indications of a phenomenon that threatens the survival of the planet and with it, the human species.

BBVA has named the winner of its newly created Open Talent Award for Sustainability as Australian last mile start-up AgUnity.

After last week’s climate summit in New York, there is still a lot of uncertainty around the feasibility of fulfilling either the 2030 Sustainable Development Agenda goals or hitting the 2050 carbon neutrality target. In an article written by BBVA Research’s Arturo Fraile, the economist warns that “time is running out, and progress must be made” because positive results are still on the distant horizon. In his opinion, financial regulation and supervision will be key to this unavoidable transition.

The extinction of species, the rise in temperatures and major natural disasters are some of the consequences of climate change. Countries and industries are aware and work to combat the planet’s accelerating pollution. Are there any viable solutions? According to some researches, using big data and machine learning could help drive energy efficiency, transforms industries such as the agriculture and find new eco-friendly construction materials.

• U.S. is one of the largest contributors to greenhouse gas emissions (GHG), making its involvement in the fight against climate change a matter of critical importance.
• Efforts outside the federal government could enable the U.S. to fulfill two-thirds of its commitment to reduce GHG emissions.

The United Nations warns about one of the most significant global issues facing humanity, as reflected in Sustainable Development Goal (SDG) 13: climate change and its impacts. “Without action, the world’s average surface temperature is likely to surpass 3ºC this century. The poorest and most vulnerable people are being affected the most.” BBVA’s approach to business is accompanied by a firm commitment to mitigating the effects caused by climate change and integrating them into its risk management model.

On Saturday, March 30th, the world came together to celebrate Earth Hour, an initiative promoted by the Worldwide Fund for Nature (WWF). Entire cities went dark for an hour to raise awareness and urge people to join the global movement in support of the environment and the protection of the planet. BBVA’s HQ in Spain – Ciudad BBVA – as well as other corporate buildings and headquarters in other countries, including Mexico, the U.S., Colombia, Peru, Uruguay or Argentina, also showcased their commitment to sustainability and the fight against climate change.

The planet needs all of us. Helping it with a one-hour blackout is something that means very little to each of us, but it is very important to the place where we live — and not just symbolically. For the 12th year since Earth Hour was first launched in 2007 by World Wildlife Fund (WWF, the large independent organization dedicated to the conservation of nature) in 2007, the biggest capitals in the world will turn off their lights to fight climate change.

The BBVA Foundation Frontiers of Knowledge Award in the Climate Change category has gone in this eleventh edition to Anny Cazenave (France), John Church (Australia) and Jonathan Gregory (UK), for their research into the response of sea level to climate change. Narrowing down the causes, integrating satellite observations and innovations applied in numerical modeling have contributed to discovering that the pace at which this rise is taking place is increasing.

The banking industry is taking another step towards laying the groundwork to tackle the climate change threat with a new set of tools. The groundbreaking methodologies published today, aimed at helping the banking sector understand and manage the adverse effects and the opportunities of climate change in their loan portfolio. The methodologies are the result of a joint effort by sixteen leading global banking institutions – including BBVA – and Acclimatise, a UK-based climate change advisory.

On February 28, BBVA unveiled its climate change and sustainable development strategy ‘Pledge 2025’. A cornerstone of this pledge is the sector norms which enable the bank to address specific matters of sustainability with particular environmental and social impact (mining, energy, infrastructure and agribusiness) and provide clear guidance on the procedures to follow in the management of clients and transactions in these sectors. These rules embody the Commitment to Human Rights that BBVA took on board in 2008 and which has recently been updated.

Last Sunday, June 17, the BBVA Communication team and their families took part in “1m2 por la naturaleza” initiative, the great collaborative garbage collection in Spanish ecosystems.

BBVA is one of 26 international banks that will work jointly on the development of Banking Principles that will align the banking industry’s business model to the UN’s Sustainable Development Goals and the Paris Agreement on Climate Change. The United Nations is driving the initiative. BBVA’s Group Executive Chairman stressed that “these banking principles will define the standards and accountability model for the future of banking.”

BBVA’s Group Executive Chairman is convinced that, to tackle the enormous environmental, social and technological challenges that climate change poses, the social role of banks needs to completely change. “We need to reimagine the role of banking,” said Francisco González a few days ago, during the BBVA Sustainable Finance Forum event.

The importance of building ties between the public and private sectors to drive the fight against climate change and the opportunities this will spawn for businesses are the main takeaways of the panel on How can institutions foster sustainable development? held during the first edition of the BBVA Sustainable Finance Forum.

Sixteen international banks convened by the United Nations jointly published a first version of the methodology to provide banking greater transparency and advance a better understanding of the management of risks and opportunities related to climate change. BBVA is one of the institutions participating in the project.

BBVA today announced its strategy around climate change and sustainable development, Pledge 2025. The strategy will help the bank meet the United Nations Sustainable Development Goals and is in line with the Paris Agreement on Climate Change. Pledge 2025 will help the bank align its activity to a 2ºC Scenario and strike a balance between sustainable energy and fossil fuel investments and is based on three lines of action: financing, management and engagement.

Europe’s banks want an active role for the financial sector in the fight against climate change. They are asking Brussels to draw up an urgent plan based on the recommendations of the European Union’s High-Level Expert Group on Sustainable Finance.

Economist William Nordhaus received the BBVA Foundation Frontiers of Knowledge Award in Climate Change for developing the first model capable of integrating economic and environmental data to identify the most efficient policies against global warming.

A chronic deficit in infrastructure for telecommunications and logistics has hindered  Argentina’s competitiveness in the tourism industry. Even so, since 2015 the country has moved up seven positions in the World Economic Forum’s biannual report on Latin America.

Customer experience, the new business models and investment in social commitment are the three opportunities for the banking industry, as it seeks to maintain a relevant role in society. “Investing in social sustainability is part of the banking industry’s responsibility,” said José Manuel González-Páramo, BBVA’s Executive Director and Head of Economy, Regulation and Institutional Relations, during the event entitled XIII Banking Industry Meeting organized by IESE (13th Meeting of the Banking Sector, organized by IESE) in Madrid.

ShareAction, one of the most important observers of responsible investing, has published a study on the 15 biggest European banks, analyzing how we manage the risks and opportunities related to climate change. This study follows the guide for investors on discussing climate change with their bank that was published a few months ago.

Big Data can play an important role in achieving the UN’s Sustainable Development Goals, which the international community hopes to do by the year 2030. However, to reach this objective, more information and more public-private cooperation is needed.

UN Global Pulse, a United Nations agency that seeks to use big data for the public good, has announced the winners of Data for Climate Action – an open innovation initiative to find solutions for climate change.  BBVA Data & Analytics collaborated with the initiative by providing statistics on credit and debit card transactions in Spain.

The Conference on the United Nations Convention on Climate Change is currently taking place in Bonn, from Nov. 6-17. At a side event hosted by the Inter-American Development Bank (IDB), BBVA was invited to share its approach to green finance.

BBVA’s Group Executive Chairman is convinced that technological advances will be accompanied by greater progress and well-being, but he is also calling for policies and structural reforms that are capable of mitigating the costs of the transition to the new digital society. Supporting research and education, promoting competition and transparency in the markets and developing new employment policies and social protection systems were among the recommendations Francisco González shared at an event organized by El Periódico de Catalunya and BBVA in Barcelona.

The recent elections in Germany have ended this year’s electoral cycle in Europe. With euroscepticism weighing in at the ballot box, it’s now up to the European Union to bring its institutions closer to the continent’s citizens, according to José Manuel González-Paramo, Executive Director of BBVA, speaking at a conference on “The New Europe: Challenges and Opportunities” organized by ADEIT.

BBVA has joined a group of 14 banks that have made a commitment to the United Nations Environment Programme – Finance Initiative (UNEP-FI) to implement the recommendations on financing and climate change published by the Financial Stability Board in July in the framework of the G20.

The path of devastation left by Hurricanes Harvey and Irma has affected more than tens of thousands of people along the Texas Gulf Coast and Florida. According to BBVA Research USA, the economic impact of Harvey could reach $111 billion for Texas and $52 billion for Florida due to Hurricane Irma. Now as impacted communities transition to the recovery stage, many neighbors and people throughout the nation are willing to lend a helping hand. Here are a few ways you can assist with disaster relief efforts.

Known as one of, if not the, oil and gas hub of the United States, the East Texas region suffered another dire consequence of Hurricane Harvey’s ripple effect: the interruptions to the energy companies who had set up shop in the affected areas.

As flood waters caused by Hurricane Harvey receded, thousands of south Texas residents  found themselves left with damaged homes, cars and other property in the historic storm’s wake.

Climate change is one of the greatest problems facing humanity. Abrupt temperature changes, famine, disease and floods are all evidence that changes in the climate are not a myth. The consequences could get worse if we do not manage to reduce the greenhouse effect, as Matthew Liao warns in his book The Next Step: Exponential Life. It can be downloaded at no charge  on BBVA’s website for the OpenMind project.

Hurricane Harvey slammed into the South Texas coast in late August, bringing with it historic and unprecedented flooding and leaving a path of destruction in its wake, the exact toll of which will take weeks, months and likely even years to determine.

BBVA Compass, with nearly a quarter of its branches located in South Texas and its holding company headquarters located in Houston, felt the full force of Harvey’s lashing, with employees’ personal lives impacted, administrative buildings closed, branches closed and some flooded and ATMs knocked offline. But, as one of the top 25 largest U.S. commercial banks based on deposit market share, it was critical that operations continued with minimal interruption to serve all communities and clients.

This is the message the G20 wanted to transmit at the end of the summit that took place last weekend in Hamburg, Germany. However, it does not seem that this actually reflects the tone among the heads of state. The main point of disagreement was around the U.S. position on climate change.  They agreed on issues related to opening markets, international trade and the stability of the financial system.

All eyes are already set on Hamburg, where, under Germany’s presidency, the G20 leaders will be meeting today and tomorrow to agree on a program to deliver on the goal set in this year’s slogan: “Shaping the interconnected world.”

In a report entitled The Future of Football, Futurizon predicts that in the future, sports events will be broadcast using tiny drones capable of hovering a few inches above the playing field, swirling around spectators or chasing the ball in the air. Except for referees, players and coaches, ordinary spectators have always enjoyed these events from architectural points of view:  the stands or the sides of the pitch. And, even if we don’t realize it yet, narratives have also depended on these points of view. What would happen if the perspective changed? Would it be possible to televise a match exactly as the referee sees it? Would that be of any interest at all? Or telling what an embedded drone observes?

Technological capital, human capital, regulatory capital and social capital… all are dimensions that the science of economics measures and includes in its analyses. Cultural capital is not a common concept in this science, however. But Timothy Besley, Professor at the London School of Economics (LSE) feels it is fundamental as a conditioning aspect of the economic activity of any organization, institution or country.

There has been an increasing focus on sustainable finance and on the impact of the climate change for the financial stability since 2015 year. Having said that, sustainable finance and the analysis of the consequences of climate change for the financial system are still in a very nascent stage and there is still a lot of work to be done. Two leading projects that are a step in the right direction are those of the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD) Recommendations -at global level- and the creation of a European Expert Group on sustainable finance -in the EU.

Once again this year BBVA is joining in with Earth Hour as a symbolic gesture on top of its long track record of commitment to sustainability and caring for the environment. This initiative by the World Wide Fund (WWF) is now a decade old, and raises awareness of the fight against climate change by all those who take part in it.

BBVA Data & Analytics, BBVA’s center of excellence in financial data analysis, has announced today that it is joining the “Data for Climate Action” challenge hosted by Global Pulse, a United Nations innovation initiative on big data.

BBVA, the most active Spanish bank as regards the issuance of green bonds in 2015 (according to Bloomberg), has taken a giant leap by signing a green loan in favor of Iberdrola for 500 million euros. Being the first operation of this type for an energy sector company, this agreement involves the highest sum as of this date.

Francisco González, Group Executive Chairman of BBVA, presented the book The Next Step: Exponential Life in an event held at the Massachusetts Institute of Technology,  This work collects the insights of twenty of the world’s most authoritative voices in a number of fields, analyzing the tremendous opportunities – and the risks and uncertainties – that the so-called “exponential technologies” will bring to humanity

Gene Likens revealed the environmental impact of acid rain. Marten Scheffer has proven that human activity can bring irreversible damage to nature. Both have contributed decisively to understand how ecosystems respond to human-induced alterations of the natural environment, key to better protect our planet. The BBVA Foundation has recognized the work of these two ecologists with the Frontiers of Knowledge Award.

Climatologists Syukuro Manabe and James Hansen are the winners of the BBVA Foundation Frontiers of knowledge Award in the category “Climate Change.” Their research made it possible to predict global warming caused by the increase in CO2 in the atmosphere.