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Sustainability

Sustainability

Citizens, companies, city councils and institutions from all over the world will turn off the lights this Saturday, March 22 for Earth Hour to fight against climate change and the loss of biodiversity. BBVA participates for yet another year in this initiative organized since 2007 by the World Wildlife Fund, turning off a hundred headquarters, corporate buildings and branches spread throughout all the countries where the bank is present.

BBVA closed 2023 reporting good progress in decarbonizing its credit portfolio. Improvements in plan delivery reached 24 percent in key sectors —such as oil and gas— for which 2030 targets were set. As of December 2023, 80% of the finance portfolio in high-emission sectors relates to clients actively managing their transition, according to the latest TCFD report published by the bank.

New clean technologies, or 'cleantech,' will play a key role in the decarbonization of the economy. To make this possible, however, the private sector must make a firm commitment to the sustainable agenda, leading to decisive, long-term investment in firms that develop clean technologies. These were the points emphasized by speakers at the 3rd BBVA Sustainability Forum, which the bank held in the auditorium of Ciudad BBVA, Madrid, Spain, with a livestream feed. 'Opportunity' was a key word in almost every speech.