Larry Fink, CEO of BlackRock, warns that his asset management company (the world’s largest) will take action against investee companies that do not consider sustainability. “We will be increasingly disposed to vote against management and board directors when companies are not making sufficient progress,” he warns in his annual letter to the CEOs of the world’s leading companies.
BBVA is one of the top five European banks with the strongest commitment to sustainable finance, according to a report produced by World Resources Institute (WRI). The bank takes the top position in Europe and the third worldwide, when considered by asset size.
27 Dec 2019
At the forum entitled `Después de la Cumbre del Clima ¿Ahora qué?´ (The Climate Conference has ended, now what?, in English), Global Head of Responsible Business in BBVA, AntoniBallabriga, reflected on the steps that the banking sector must take following COP25. While acknowledging the “insufficient” results of the conference, he remarked that, “It marked another step toward reaching global agreements,” in which BBVA has actively participated. He highlighted the banking sector´s role in providing support and advice in the energy transition process.
24 Dec 2019
20 Dec 2019
The Madrid Climate Summit hosted the ‘New Finance Leadership’ round table with participation from BBVA’s Executive Chairman, along with Nadia Calviño, Spain’s Minister of Economy and Business; Margarita Delgado, Deputy Governor of the Bank of Spain; Inger Andersen, Executive Director of the United Nations Environment Programme (UNEP); and José Antonio Alvarez, CEO of Banco Santander.
19 Dec 2019
Held in Madrid and with Chile presiding, COP25, has come to an end following nearly two weeks of intense debate, the presentation of reports on the threats of climate change and proposals to tackle the different challenges.
16 Dec 2019
The Spanish environmental company EDF Solar has installed 523 solar panels with a production capacity of 236.182 kWh/year at BBVA Group headquarters. As a result, the bank will reduce CO2 emissions in the atmosphere by 106 metric tonnes.
12 Dec 2019
Climate change is “probably the greatest business disruption humankind has ever faced,” BBVA Group executive chairman Carlos Torres Vila said at the Madrid Climate Change Conference. That’s why “sustainability is a core part of our strategy. The future of finance lies in financing the future,” he stressed.
11 Dec 2019
Investment in growth in the European Union is less now than it was before the last financial crisis, despite the many modern-day challenges: the digital revolution, climate change, an aging population, migration, to name a few. José Manuel González-Páramo discussed this issue at the Rome Investment Forum held in the Italian capital. The BBVA executive board member stressed that long term investment capacity in Europe should focus on two crucial challenges: adapting to a more sustainable growth model and investing in strategic digital capabilities.
Beachbox Hotelco has become the first company in Spain’s hospitality sector to sign a sustainable project finance loan to finance the construction of the Six Senses Ibiza hotel. BBVA served as sustainable coordinator in the €55 million syndicated loan for the financing of the project. BBVA and Caixabank will each contribute 50 percent of the funds.
10 Dec 2019
Year 2050: 300 (270–340) million people today live on land indicated as vulnerable to an annual flood event. According to a report by Nature Communications, at the current rate of global warming and Antarctic ice sheet instability, estimates of vulnerability to sea-level rise and coastal flooding triple for Asia, to a greater extent, but also European Mediterranean countries.
05 Dec 2019
Green is more than a color. In our collective imagination it symbolizes nature and is associated with caring for the environment. We need a green future so the world will continue to be the place we know today and not the foreboding future as depicted by gloomy predictions. BBVA is aware of this and for years has been committed to green and social financing. In fact, it is one of the banks most recognized for its activity in sustainable financing.
03 Dec 2019
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.
02 Dec 2019
The climate summit in Madrid kicks off with a reception for world leaders who, over the course of the next few days, will discuss the environmental challenges confronting the planet. BBVA sponsors the inaugural lunch with a sustainable menu designed by the brothers of El Celler de Can Roca. The chefs from Spain’s northeastern city of Girona have created a culinary overture to invite reflection on some of the most relevant topics to be addressed at the summit.
BBVA reaffirms its commitment to the fight against climate change and responsible banking with the expansion of its framework for sustainable transactional products, which was published at the beginning of the year. With it, the bank seeks to make different sustainable financial solutions available to a greater number of clients.
BBVA is expanding its range of sustainable products. Starting on December 2nd, the bank will begin selling sustainable financial contracts. BBVA will invest the amount obtained from customers in companies that are considered sustainable based on certain criteria for inclusion, which will determine the green, social or sustainable nature of the investment.
29 Nov 2019
The Roca brothers of El Celler de Can Roca fame have created the dishes that will be served to prime ministers, heads of state, government officials, and the United Nations’ Secretary-General at the opening lunch of the next Climate Summit. The summit gets underway next Monday, December 2, in Madrid. The meal, sponsored by BBVA with a menu prepared by the Roca brothers, is based on local Spanish products and a cuisine that is amenable to small-scale farmers. “Cuisine is a transformative tool that can raise awareness and advocate for sustainability,” Joan Roca stated.
28 Nov 2019
27 Nov 2019
BBVA will actively participate in the United Nations Conference on Climate Change (COP 25), which will be held in Madrid, starting on Monday, December 2. Some of the confirmed events include a round table discussion where BBVA Group executive chairman Carlos Torres Vila – together with representatives from other banks – will discuss new climate leadership. In addition, there will be a sustainable meal, sponsored by BBVA and prepared by the Roca brothers for heads of state and government officials.
21 Nov 2019
“Impact investing has made traction and is now fundamental to addressing the significant objectives related to sustainability. At a time like now, when all of us are experiencing the impact of the climate emergency, this type of asset is all the more relevant. It is undeniable: sustainability requires impact investing.” Lidia del Pozo, BBVA’s Director of Community Investment Programs, said these words at the European Venture Philanthropy Association (EVPA)’s 15th annual conference in The Hague.
Industry and institutions consider the Internet of things an opportunity for the present and the future that will digitize many operations and bring tremendous benefits. But it also has the ability to help combat climate change and protect the environment. This is how the Internet of Things could impact the sustainability of the planet in different areas, such as water use and energy efficiency.
Luisa Gómez Bravo, currently BBVA’s Global Head of Corporate and Investment Banking (CIB) — the bank’s wholesale banking department — has an extensive track record in banking. After graduating in law and business administration at ICADE in Madrid, she worked for several years in London for American investment banking firms and in 1998 she moved to BBVA. Since then, she has held various management positions at the bank, and at the end of 2018, she was appointed head of the investment banking unit.
She is passionate about broadening her professional experience by taking on new challenges that arise each day. “I like spreading this enthusiasm and ambition to the BBVA CIB team because I believe that we have a great culture of leadership and an enormous capacity to take on the challenges and opportunities that lie ahead,” she says.
Luisa demonstrates this same passion in her personal life. She enjoys spending the weekends with her husband and four children, ensuring she gets as much quality time with them as possible.
19 Nov 2019
13 Nov 2019
These days the term sustainability seems to cover everything, and financial institutions are adapting to this new way of understanding the economy. In a gradual but unstoppable fashion, companies are incorporating sustainability criteria in their management. As a result, private and institutional investors are starting to call for global sustainable investment indexes that are rational, solid and reliable to allow them to monitor the evolving profitability of their sustainable investments.
12 Nov 2019
High level government representatives from the energy, industry, and finance fields participated alongside business leaders at the Eighth Turkish Wind Energy Congress (TWEC 2019). Experts at the event agreed, “We have created a success story in energy, with wind energy leading the sector.” The event was held in Ankara and organized by theTurkish Wind Energy Association (TWEA).
04 Nov 2019
Urgency and opportunity are the two defining traits of the current situation that financial institutions are facing in this climate emergency scenario. For Antoni Ballabriga, Global Head of Responsible Business at BBVA, there are “two axes that define this age of responsibility.” At BBVA, “we are lending at interest rates that reward companies that meet measurable sustainable goals.” In his opinion, the financial sector “is taking ownership of its share of responsibility in this transition, although we still have a long way to go.”
BBVA has been named sustainable finance bank of the year by international magazine LatinFinance. The publication recognized the bank’s performance in the region, notably the experience, creativity, and drive demonstrated by its teams as they promote sustainable finance.
31 Oct 2019
As of September 2019, BBVA stood at the top of the Spanish financial and corporate bond issues league tables published by Bloomberg. “The secret to being involved in so many bond issues is the bond value chain and teamwork,” said Regina Gil, Global Head of Credit at BBVA.
25 Oct 2019
“According to United Nations estimates, meeting the Sustainable Development Goals will require mobilizing $5 to 7 billion per year. This explains the enormous scale of the changes that we need to address,” explained BBVA Global Head of Responsible Business Antoni Ballabriga, during speaking at the Open Summit event in Madrid. Ballabriga underlined the key role that financial institutions are called to play in a context “where sustainability is the biggest business opportunity for banks in the next 10 years”.
24 Oct 2019
Today BBVA celebrates its fourth annual Open Summit, the event dedicated to innovation and, as explained by BBVA’s Global Head of Client Solutions David Puente, “demonstrates our commitment to the fintech ecosystem.” Sustainability will be a featured topic throughout the day, and the Open Talent final winner will be announced.
22 Oct 2019
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.
21 Oct 2019
Between January 2016 and December 2018, BBVA Group reduced its energy consumption by 7 percent per employee. This savings reaffirms the bank’s commitment to sustainability. By December 2018, the Group had hit its targets of having 35 percent of the energy it consumes coming from renewable sources and reducing its CO2 output by 27 percent compared to 2016. October 21 marks World Energy Savings Day and intends to raise awareness about energy efficiency and the need for responsible and sustainable guidelines governing the consumption of the planet’s resources.
17 Oct 2019
Garanti BBVA joined 129 other banks from around the world in signing the United Nations Environment Program Finance Initiative (UNEP FI) Principles for Responsible Banking at the UN General Assembly in New York. The participating banks represent over $47 trillion in total assets. By signing these principles, Garanti BBVA and five other Turkish banks – ING, the Investment and Development Bank, Şekerbank, TSKB and Yapı Kredi – formalized their commitment to leading the way for sustainability in the country.
16 Oct 2019
Angélica Valbuen lives in Cundinamarca, Colombia. She is 39 years old, works in the fields. A situation that destines them to financial exclusion if it were not for the work of institutions like the BBVA Microfinance Foundation, which helps over 150,000 women in rural areas of Latin America.
14 Oct 2019
Banks and investors as starting to awaken to the benefits that can derive from the use of blockchain technologies in bond issues, including green bonds. BBVA and Spanish insurance company Mapfre partnered early this year to arrange the issue of a pioneering blockchain sustainable bond. The technology allows to cut costs, increase efficiency and ensure full transparency.
10 Oct 2019
“We need a massive change and digitalization can not only radically accelerate the pace at which we mobilize funds for sustainable development, but also improve the use of these funds by enabling a better management of their social impact,” explained BBVA Global Head of Responsible Business Antoni Ballabriga, during the European Banking Summit, held in Brussels on October 2 and 3.
09 Oct 2019
Energy savings at BBVA’s headquarters is 5,766,731 kWh a year, equivalent to the consumption of 1,900 households. This equals 12 to 15 percent less than when the complex was inaugurated in 2015 and a 1,430-metric ton per year reduction of CO2 emissions. The building’s sustainable design and equipment are not solely responsible for this success: tools powered by artificial intelligence have also been used to optimize the bank’s energy use.
08 Oct 2019
Climate change, the biodiversity crisis and inequality pose “the greatest sustainability challenges in the coming years,” according to BBVA Group executive chairman Carlos Torres Vila. “Addressing the most important challenges humanity has ever faced is in our hands, and the future will depend on what we do now. For banks, the future of banking lies in financing the future.” Given all of these challenges “companies cannot simply stand by,” he emphasized at an event held by the SERES Foundation in Madrid on Tuesday.
BBVA has named the winner of its newly created Open Talent Award for Sustainability as Australian last mile start-up AgUnity.
01 Oct 2019
On September 22, the Principles for Responsible Banking were signed during the United Nations General Assembly in New York. These principles were conceived a year ago in Paris thanks to the initiative of 28 financial institutions working together under the framework of the United Nations Environment Programme – Finance Initiative (UNEP FI). BBVA was one of the founding banks. To date, 130 CEOs from financial organizations around the world have signed the principles.
Garanti BBVA has been awarded the Leadership in Energy and Environmental Design (LEED) platinum certificate for the overall sustainability of its headquarters building in Istanbul. It is the only bank in Turkey to have received such recognition, which is one of the most rigorous green building rating systems in the world, developed by the American Council of Green Buildings (USGBC).
27 Sep 2019
“The financial sector’s Collective Commitment for Climate Action is an important step toward working as a true global coalition. It is the industry’s most ambitious commitment to the climate,” explained Antoni Ballabriga, the Global Head of Responsible Business at BBVA, during his presentation at one of the round table discussions taking place in parallel to the climate conference held in New York this week.
26 Sep 2019
Sustainability has dominated the headlines around the world for decades, and is only picking up speed. From achieving a sustainable future by local initiatives to campaigns by larger entities here in the U.S. and across the globe.
24 Sep 2019
Generali has just issued, together with BBVA and seven other banks, its first green bond amounting to 750 million euros. This is the first bond from a European insurance company and the largest to date. BBVA acted as deal manager and joint bookrunner.
23 Sep 2019
BBVA is one of the signatories of the Collective Commitment to Climate Action that, under the auspices of the United Nations, 31 international financial institutions have promoted to ensure the alignment of their products and services to the fight against the climate emergency.
22 Sep 2019
BBVA is one of the signatories of the Principles for Responsible Banking, promoted by the United Nations Environment Programme Finance Initiative (UNEP FI). These Principles embody the commitment of 130 banking institutions and the United Nations to take on the climate emergency and sustainability challenges facing society today.
19 Sep 2019
Even though sustainable finance has been a fundamental issue in the social agenda for many years now, thanks to the 2015 Paris agreement on climate change, the world became aware of the environmental risks and economic impact resulting from the effects of climate change. However, it is not just society that is increasingly more aware. The financial industry is also contemplating climate change and the Sustainable Development Goals (SDGs) as relevant factors to determine their investment strategy.
18 Sep 2019
BBVA and Pestana Hotel Group have reached a new milestone in the sustainable finance market, issuing the world’s first green bond in the hotel industry, according to the International Capital Markets Association’s (ICMA) Green Bond Principles. The €60 million bond has a maturity of 6 years and was placed among professional institutional investors.
14 Sep 2019
Yet another year, BBVA has been included in the Dow Jones Sustainability Index (DJSI), the market’s leading benchmark index, which measures the economic, environmental and social performance of the world’s most valuable companies. BBVA’s inclusion in the DJSI World and DJSI Europe indices was announced today Friday, September 13. Garanti BBVA was also included in the DJSI Emerging Markets and is the only company in Turkey which qualified for fifth consecutive year.
12 Sep 2019
The term agribusiness is used to refer to economic activities derived from or connected to farm products. In other words, crop production, as well as crop processing, transportation and distribution. Agriculture and all of its economic, social and demographic derivatives… a sector that has an impact on practically all the Sustainable Development Goals (SDGs).
04 Sep 2019
Antoni Ballabriga, BBVA’s Global Head of Responsible Business, was recently appointed Co-Chair of the Global Steering Committee for the United Nations Environment Programme Finance Initiative (UNEP FI). The UNEP FI is the global partnership established between the UN and the financial sector to promote sustainable finance, a cause that will keep Antoni Ballabriga busy well after the summer holidays. His calendar features a trip to New York on September 22 when BBVA, as one of the founding banks, will sign the United Nations Principles for Responsible Banking.
Antoni Ballabriga received a B.A. in Business Administration and an MBA from ESADE Business School. He completed postgraduate studies at Harvard Business School where he focused on strategy and corporate social responsibility. He chairs the European Banking Federation’s working group on sustainable finance. He has also chaired the Spanish Forum for Socially Responsible Investment (SpainSIF) and the Spanish association of executives for corporate social responsibility (DIRSE).
Ballabriga reports directly to the bank’s management board. His avowed mission is “to ensure the bank systematically positions people at the heart of its decision-making processes.”
30 Aug 2019
Each individual can play a part in the fight against climate change, to one degree or another. With small, daily gestures, it is possible to contribute to the conservation of the environment. Large corporations, through different debt instruments, bonds, and even specific transactions, also play a role in supporting this campaign, a campaign that concerns every corner of society. More specifically, what impact do businesses have on the environment, and what can they do to offset it?
29 Aug 2019
Banks, with their array of financial service offerings and bottom-line image, may not seem like natural cheerleaders for sustainable corporate practices. Your banker, after all, doesn’t make a living sourcing fair-trade chocolate for candy bars or producing renewable biomass fuel. Banks, however, play an increasingly significant role in promoting sustainable activities that support a clean environment, vulnerable populations and human rights, among other goals through their internal practices and through the enterprises they finance.
Through its renewable energy subsidiary, Enel Green Power España (EGPE), Endesa has begun construction of ‘Primoral’ wind farm, which will supply power to BBVA from the end of 2019. The plant, located in Villamayor de Gállego (Zaragoza), will be a 35 MW power plant capable of generating 108 GWh a year once it comes into operation.
28 Aug 2019
Although the concept of sustainable development was first used officially in the Bruntland Report, published in 1987, it wasn’t until the UN General Assembly held in 2015 when countries across the globe signed the UN 2030 Agenda For Sustainable Development. A pivotal part of this agenda are the 17 Sustainable Development Goals (SDGs), a set of goals and specific sets of tasks defined by the UN to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.
16 Aug 2019
Origination & Sustainable Bond Group
Sustainability is a concept that we are hearing more and more frequently because it poses a growing concern for society as a whole – for both individuals and companies. Sustainability refers to satisfying current needs without compromising future generations’ ability to meet their needs, while striking a balance between economic growth, environmental protection, and social well-being. This is a guide to explain the most common acronyms we come across when talking about sustainable finance.
08 Aug 2019
BBVA’s Global Head of Responsible Business, Antoni Ballabriga, has been named co-chair of UNEP-FI Global Steering Committee. UNEP FI (United Nations Environment Programme – Finance Initiative) is a global partnership established between the United Nations and the financial sector in 1992 to promote sustainable finance.
30 Jul 2019
Grupo Piñero, a Spanish group dedicated to the vacation industry, closed a bilateral sustainable financing deal with BBVA. The bank acted as the sustainability coordinator. The agreement involves a €20 million revolving credit facility (RCF), which is aligned to the tourism company’s firm commitment to holistic and long-term strategic sustainability.
26 Jul 2019
Following a six-month public consultative process, the United Nations Environment Programme Finance Initiative (UNEP FI) has this week released the final official versions of the UNEP FI Principles for Responsible Banking and their supporting framework documents. Endorsed by more than 100 financial institutions ahead of their 22 September global launch. BBVA is one of the 30 Founding Banks for this initiative.
25 Jul 2019
Based on the exponential growth of the issuance of green, social and sustainable bonds in the past 12 months, it is fair to say that we are no longer talking about a passing fad, but rather a phenomenon that is here to stay. More companies, as well as investors, are incorporating ESG (Environmental, social and corporate governance) objectives in their investment agendas. BBVA Global Markets Research discusses the ESG bond market, its volumes and main topics in their report ‘ESG Bonds: Key topics and trends for 2019 and beyond – Getting the harmony right’.
24 Jul 2019
BBVA served as sole sustainable agent in the first syndicated revolving credit facility in Latin America, signed with Fibra Uno, a strategic client for the bank. The transaction is also the first sustainable transaction by a real estate business in the region and the first facility to be arranged in accordance with the ‘Sustainability-Linked Loan Principles’ in Latin America. BBVA was also the joint bookrunner and lead arranger in the transaction, which involved a total of 11 banks.
23 Jul 2019
22 Jul 2019
Over eight million tons of plastic per year. As part of its Pledge 2025, BBVA works to attain the United Nations’ (UN) Sustainable Development Goal (SDG) 14 by protecting marine life and financing ecology and biology research teams. The goal is the conservation of habitats and/or endangered species in Spain.
18 Jul 2019
CIE Automotive wanted to benefit from BBVA’s experience and advice in its first sustainable financing with a commercial bank. The international industrial group formalized an €80 million bilateral sustainable loan with the bank.
Atlantic Copper, with the support of BBVA, has made its debut in the sustainable financing market by drawing up of two bilateral financing deals worth a combined total of €44 million. This activity confirms both companies’ strategic commitment to become aligned with the Sustainable Development Goals (SDGs) and Agenda 2030.
16 Jul 2019
The agribusiness company COFCO International has signed the first syndicated sustainability-linked facility arranged by a Chinese corporate with the help of BBVA. The financing is for a total of $2.1 billion comprising three tranches – a 1-year revolving credit facility (RCF), a 3-year RCF and a 3-year term loan – each tied to sustainability criteria.