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. Also, for fifth consecutive year, Garanti BBVA earned a spot in the DJSI Emerging Markets.
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.
12 Jul 2019
BBVA Group executive chairman Carlos Torres Vila defended the role of education in general and financial education in particular to fight poverty and enhance people’s well-being. “Education in general is the best driver to end inequality and promote a sustainable development. It’s the simplest way to bring the age of opportunity to everyone – especially those who are most vulnerable,” he said on the second day of the BBVA EduFin Summit 2019 being held in Madrid.
09 Jul 2019
Head of Global Public Finance
24 Jun 2019
As part of its commitment to the societies where it has a presence and its purpose to bring the age of opportunity to everyone, BBVA contributes to the United Nations (UN) Sustainable Development Goal (SDG) 10: reduce inequality within and among countries. The 17 SDGs are a call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity – an initiative that the UN has also geared toward the corporate world through public-private partnerships.
18 Jun 2019
This year, the BBVA Foundation Frontiers of Knowledge Awards ceremony underscored the need for an increased commitment to sustainability across the globe. “Climate change, the biodiversity crisis and inequality are issues whose future consequences may be much more serious if we fail to act now,” said the President of BBVA Foundation Carlos Torres Vila during his address. The awardees gathered to attend a gala that was held for the first time this year in the city of Bilbao.
17 Jun 2019
BBVA’s Group executive chairman announced today that the bank’s goal is for all products to offer a sustainable option – both for large corporations and institutions, and SMEs and individual customers. The bank plans to reach this goal throughout 2020 for its main products sold in Spain.
14 Jun 2019
True to its commitment to sustainability and the environment, BBVA has launched a €20 million new line of green loans for customers interested in purchasing electric or hybrid cars. This new product seeks to meet a growing demand from society, increasingly aware of the fight against climate change.
12 Jun 2019
BBVA is consolidating its leadership in Europe’s green financing market by signing a EUR 25 Mn bilateral green loan with Katoen Natie, a Belgian logistics and engineering company. This transaction represents an important landmark as it is the first green financing closed in Belgium by BBVA. Furthermore, BBVA is not only acting as lender but also as advisor on their Sustainable Finance Framework. The loan is in favour of a subsidiary of Katoen Natie for an innovative industrial recycling plant which will result in the recycling of chemical residues while also recovering materials and producing energy for neighboring industries.
10 Jun 2019
How is the electricity market changing with the arrival of renewable energy? How will green energy and its marketing evolve? Are companies advancing in the transition to a decarbonized economy at the pace the planet needs? These are some of the questions posed in the event organized by the newspaper El País “Marketing renewable energy” on June 6th.
05 Jun 2019
This week marks yet another milestone for BBVA in the European green financing arena. ESB, the leading Irish Utility, has chosen BBVA to act as green structuring bank and joint bookrunner in their inaugural EUR 500 million green bond. This is the first ever green bond issued by an Irish corporate and the net proceeds from the transaction will be destined to finance eligible green projects, mainly under the following categories: renewable energy, energy efficiency, clean transportation and green buildings.
04 Jun 2019
BBVA launches a line of loans for developers dedicated to the construction of highly energy efficient homes. This product further demonstrates BBVA’s solid commitment to sustainability and green financing.
03 Jun 2019
A commitment to sustainable development is the best guarantee for a better future. All measures aimed at improving energy efficiency and increasing the use of renewable energy are welcome in this undertaking. This is precisely the objective of the United Nations seventh Sustainable Development Goal (SDG): to ensure access to affordable, reliable, sustainable and modern energy for all, an objective that BBVA is also actively supporting.
31 May 2019
Redexis has made its €300 million syndicated revolving credit facility sustainable by extending its maturity profile, reducing the average cost of its debt and reinforcing its socially responsible commitment. BBVA acted as sustainable coordinator in this transaction, the first ever by the Spanish energy infrastructure company in the sustainable financing market.
29 May 2019
In recent years, society has become increasingly aware of the importance of climate change. The not so remote hazards it poses to our current way of life make changes in current policies necessary. The financial industry is joining forces in the fight against climate change through sustainable finance. Sustainable loans are one of the key tools, and banks play a decisive role when they act as sustainable agents for these loans. But what does this actually entail?
24 May 2019
What if the whole world came together to eliminate poverty and hunger; ensure good health, quality education and clean water for all people and reduce inequalities? What if every country committed to work toward affordable, clean energy and responsible consumption and production? It may sound too good to be true, but through the United Nations 2030 Agenda for Sustainable Development, that’s actually happening now.
In commemoration of Earth Day, the New York Stock Exchange (NYSE) publicly acknowledged those companies listed on the exchange that have integrated sustainable practices into their business models, promoting sustainability with their actions, in their business dealings, and with their stakeholders. BBVA was one of the companies the American stock exchange singled out for their significant Earth-friendly efforts, like BBVA’s ‘Pledge 2025’.
23 May 2019
Investors who want to put their money where their ethics are — to realize potentially attractive returns while supporting environmentally sound and humane business practices — may choose from a variety of financial instruments that align with these goals.
22 May 2019
20 May 2019
An integrated and fully-entrenched capital markets union in Europe is needed to ensure an orderly transition in accordance with the United Nations Sustainable Development Goals and the Paris Agreement. José Manuel González-Páramo, BBVA Head of Global Economics and Institutional Relations stated as much today.
09 May 2019
Garanti Bank presented its initiatives to combat climate change at the 10th Energy Efficiency Forum and Fair. The bank has increased both its portfolio of sustainable loan options and its financing of innovative projects aimed at supporting green and renewable investments.
29 Apr 2019
As part of its commitment to the communities it serves, BBVA is contributing to the fulfillment of the UN’s second Sustainable Development Goal (SDG): to end hunger and promote sustainable agriculture. The 17 SDGs are a universal cry, calling for the adoption of measures to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity. With this initiative, the UN appeals to businesses to take a stake in public-private alliances and join forces by uniting their efforts behind this initiative.
26 Apr 2019
BBVA acted as advisor and lead coordinator in the first-ever sustainable bond issued by Government of Navarre. For the first time in its history, Navarra will finance projects with a positive environmental or societal impact through capital markets.
22 Apr 2019
BBVA has a core purpose of bringing the age of opportunity to everyone. The first step toward fulfilling this purpose has to do with the bank’s contribution to attaining the first of the United Nations (UN) Sustainable Development Goals (SDGs): the end of poverty. The 17 SDGs are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The UN has called on companies to unite their efforts and initiatives in this area, with a focus on public-private partnerships.
15 Apr 2019
03 Apr 2019
BBVA acted as a sustainable agent, together with Santander, in ACCIONA’s first sustainable syndicated loan of €675 million. In this type of financing, the interest rate is adjusted based on the company’s performance in sustainability parameters.
The deal, structured as per the German debt instrument, is worth €220 million, which will be allocated to sustainable projects. Blockchain technology was used to manage the negotiation of the deal, and both BBVA and Madrid’s regional government used their own nodes to establish a network between the two parties.
29 Mar 2019
SSE PLC, a leading developer, operator and owner of renewable energy assets across the UK and Ireland, has once again partnered with BBVA as sole sustainability coordinator under its new ‘revolving credit facility’ (or RCF). In 2017, SSE and BBVA worked together in the arrangement of the company’s inaugural green bond issue.
28 Mar 2019
Iberdrola has successfully signed, with BBVA acting as lead arranger and sustainable agent, a new €1.5 billion multi-currency syndicated credit facility linked to sustainability criteria. This is the first transaction aligned with the ‘just transition’ concept, introduced in the Paris Agreement.
26 Mar 2019
BBVA recently structured the first sustainable loan in RCF format in Spain’s hotel industry. The €65 million credit line with Meliá Hotels International is an example of the Balearic group’s commitment to the fight against climate change.
22 Mar 2019
BBVA signs with the French electricity company EDF a €300 million sustainability-linked revolving credit facility (RCF) which incorporates a pricing adjustment based on the company’s sustainability performance linked to CO2 emissions and energy efficiency.