Sustainability and Responsible Banking
Sustainability and Responsible Banking
BBVA has ranked first among European banks 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 largest companies by market cap.
Global Head of Responsible Business at BBVA
This launch is part of the bank’s commitment to the fight against climate, and adopt initiatives that contribute to the Sustainable Development Goals.
One of the fundamental goals of the Principles is to define the banking industry’s role and responsibilities in creating a sustainable future, aligning it to the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement, which was adopted in 2015 and entered into force in 2016.
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.
Carlos Torres Vila
BBVA Group executive chairman
BBVA was recently named Best Investment Bank for Sustainable Financing by Global Finance as part of its 22nd annual World’s Best Investment Banks survey.
In naming the global winners, Publisher and Editorial Director Joseph D. Giarraputo pointed out the role investment banks will play in the world post-pandemic, specifically mentioning the importance of understanding the skills and specialties that these banks bring. For BBVA USA, sustainability is a clear differentiating factor and has become especially important over the past year.
For yet another year, the Organization for Economic Cooperation and Development (OECD) has published the data reported by nearly 40 of the largest foundations in member countries of the Development Assistance Committee (DAC), to showcase the impact of private philanthropy. For second year running, the BBVA Microfinance Foundation (BBVAMF) ranks as the leading contributor to development in Latin America, and the world’s second, next to the Bill and Melinda Gates Foundation.
BBVA has updated its Corporate Social Responsibility (CSR) policy with several new additions following the recommendations of Spain’s financial market regulator, the CNMV, and the bank’s growing commitment to its role in sustainable banking. Furthermore, BBVA’s Board of Directors also approved the General Policy on Sustainability, which defines and establishes the general principles, main objectives and guidelines for the management and control of the Group in terms of sustainable development, with the aim of striking a balance among economic development, social development and environmental protection.
In 2020, BBVA launched its ‘COVID-19 Social Response Plan’ with €35.7 million to help society at large. The funds were primarily used to purchase medical equipment to support public health systems. In addition, the bank collaborated with a variety of different organizations to support vulnerable groups, and promoted research on the disease and its side effects. More than 3.5 million people directly benefited from these initiatives, rolled out on top of another batch of measures implemented to support clients and customers, including payment deferrals and government backed loans.
Garanti BBVA has been included in Bloomberg’s Gender Equality Index – a recognition it received thanks to its internal equality policies, the benefits it provides its customers and its successful efforts through its entire value chain.
BBVA reached €50.2 billion in sustainable financing at the end of December 2020. This means it has achieved half of its sustainable financing objective foreseen for the 2018-2025 period (€100 billion), one year ahead of schedule. The growth rate in the financing of this type of BBVA sustainable operation is 33 percent more than planned.
BBVA received the banking industry’s silver award in the yearbook put together by S&P Global, analyst for the Dow Jones Sustainability Index (DJSI), the ranking in which the Group rose to the position of the second most sustainable bank in the world in 2020.
Garanti BBVA is launching a product to finance the installation of solar energy systems on rooftops for self-consumption.
45 minutes by motorcycle, half an hour by boat and 15 minutes on foot. That is how Sergio Pacheco and Victor Madera, loan officers of the BBVA Microfinance Foundation in Colombia, manage to bring financial services where no one else does. This journey is just one example among the numerous cases that can be found in the countries where the Foundation works. These are the lengths to which they go to reach those who live outside the financial system, which is another barrier to their progress. In 2020, BBVAMF has banked nearly 300,000 people in Colombia and Peru, and its two institutions combined have reached more than 2.1 million clients.
Garanti BBVA launches ‘Garanti Portföy Temiz Enerji Karma Fon’, an innovative fund that invests in capital market instruments tied to Turkish and international companies in the sector of clean, renewable and alternative energy technologies.