As of January 2021, 12 percent¹  of BBVA’s new financing is connected to sustainability, according to the figures released on Investor Day, which was held last week. At this event, BBVA’s Global Head of Sustainability, Javier Rodríguez Soler, also announced that BBVA expects to channel over €35 billion in sustainable financing in 2021. This represents more than 70 percent growth from 2020. “Decarbonization, in particular, and sustainability, in general, represent the greatest transformation in the history of humankind,” Rodríguez Soler stressed. This phenomenon represents an “huge business opportunity” for BBVA and its shareholders.

The role of banking is fundamental as a funder of all productive sectors. In addition, it plays a key role by channeling funds toward activities that contribute to decarbonization, and due to the influence that can be exerted on the behavior of banking customers and their environmental performance, through such financing, in order to achieve the objectives of the Paris Agreement.

BBVA publishes intermediate emission reduction targets for the real estate and aluminum sectors

BBVA and its foundations will devote a total of €550 million during the 2021-2025 period to fund social initiatives aimed at fostering inclusive growth in the countries where they are present. “This is the most ambitious social plan that we have implemented to date,” said BBVA CEO Onur Genç.

BBVA is one of the 30 founding institutions of the Principles for Responsible Banking. In the last two years, it has reinforced its commitment to them through multiple actions, accessions and alliances with supranational organizations. In addition, and after incorporating sustainability as one of its strategic priorities in 2020, the bank recently created a global area of sustainability to elevate this matter to the highest executive level of the organization.

A lack of role models, stereotypes and difficulties accessing funding make it hard for women to launch businesses. Committing to work-life balance, redefining the face of entrepreneurs and new business and digital models are some key aspects that could help make entrepreneurial opportunities more egalitarian.

Of 8,300 known animal species, 8% are extinct and 22% are endangered. These United Nations figures place the planet on the brink of what some scientists now call "the sixth mass extinction." The impact of human action on ecosystems is causing many species to disappear, with irreversible harm to biodiversity and the environment.

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