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Sustainability and Responsible Banking

Sustainability and Responsible Banking

World Savings Day celebrates a financial habit that should be learned from an early age to ensure better financial planning in the future. Young people aren't adults yet and don’t have the financial responsibilities of grownups. But, as kids become teenagers, they do have to start facing certain challenges, such as managing their monthly allowances to save a bit - or at least not overspend - or start using their first bank account.

More than 2,600 BBVA USA employees participated in the bank’s annual Week of Service during the week of Oct. 7. Employees across the bank's footprint participated in 227 events, including Habitat for Humanity projects, food bank initiatives, community clean up efforts, and financial education workshops for individuals and small businesses. Their efforts generated more than 8,000 volunteer hours across the bank’s footprint.

With earnings season in the banking sector underway, it may be the right time to take a look at some of the most commonly used, but more frequently misunderstood, financial terms. One of these terms is the expression 'positive jaws,' which has been used, for example, by BBVA CEO Onur Genç during the quarterly results presentations.

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.

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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.