Today marks the 10th anniversary of the UN Guiding Principles on Business and Human Rights, the framework for managing the impact of business on fundamental rights. Much has happened since Professor John Ruggie developed these principles.
The need to create a livable global environment that respects and preserves biodiversity is driving initiatives such as the European Green Deal, with an integrative vocation under the umbrella of sustainable and inclusive development. The aim of this agreement is to implement a set of measures to address climate and environmental challenges.
BBVA joins the European Clean Hydrogen Alliance, which aims to promote the extension and development of the use of green hydrogen for a carbon-neutral Europe by 2050. BBVA is the only Spanish bank in this alliance promoted by the European Commission.
In an especially hard year for the world of entrepreneurship, BBVA continued supporting entrepreneurs who create a positive social impact. The bank devoted €7.7 million euros (5 percent of the total investment in social programs) to entrepreneurship initiatives, benefitting 2.61 million entrepreneurs in 2020.
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.
The Collective Commitment to Climate Action (CCCA), the most ambitious global banking sector initiative supporting the transition to a net zero economy by 2050 is celebrating its first anniversary. And to commemorate the occasion it has published its first follow-up report.
As part of its commitment to sustainability, BBVA has become the first institution in Argentina to launch recycled plastic cards, 85.5 percent made of PVC (polyvinyl chloride), produced from recycled plastic.
Access to technology and financial education improvement for the entire population, especially the most vulnerable, is essential to achieving an inclusive recovery. These have been the main conclusions from the latest edition of EduFin Talks, a space for reflection and debate on financial education's challenges organized by the BBVA Center for Financial Education and Capability in a 100 percent digital format.
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. The BBVA Group also took second place in the world ranking. The announcement was made on Friday, at the closing of the stock market in New York.
New challenges and opportunities in financial education and inclusion will be the main topic of the third edition of EduFin Talks. The BBVA’s Center for Financial Education and Capability presents the new edition of EduFin Talks, a space to reflect on and discuss the challenges of financial education. This year it will be held fully online.
The BBVA Chairman kicked off MoneyFest, this year’s virtual edition of Money2020. In an interview with Spriha Srivastava, Executive Editor overseeing the London Newsroom of Business Insider, he shared his insights into the trends that the pandemic has accelerated, such as digitization and sustainability. Carlos Torres Vila considers that this crisis can be an “opportunity to reset our world.” In this sense, he noted that the “infusion of public funds must contribute to achieve a more digital, sustainable and inclusive society.”
Learning something new is always positive, especially when it’s about something as important as personal finances. Pay attention to this agenda of virtual events in the last quarter of the year, as it will help with money management and improving financial health.
Both organizations have announced a global collaboration agreement to promote equality among girls and young people with a focus on female role-models. "We are convinced that we can curb the impact of gender stereotypes in a simple and effective way, by teaching girls about successful women that can help them become aware of all the opportunities within their reach", said BBVA global head of Talent and Culture Carlos Casas.
BBVA has launched a new sustainability training program for the Group's more than 125,000 employees around the world. It is the first major bank in the world to give mandatory sustainability training to all employees. The new training modules will be available from September 28, coinciding with the fifth anniversary of the United Nations Sustainable Development Goals (SDGs).
On September 25, 2015, at the United Nations headquarters in New York, representatives from 193 countries approved the Agenda 2030. Pivotal to the agenda, the UN defined 17 Sustainable Development Goals and 169 targets – which were announced during the signing ceremony – that address a broad range of issues, from extreme poverty to climate change, and promote both education quality and gender equality, peace or responsible consumption. To commemorate the occasion, BBVA lit up in blue (in homage to the United Nations) its flagship La Vela building in its corporate headquarters in Madrid.
More than a third of the global banking industry has signed the Principles for Responsible Banking, which this month celebrates its one-year anniversary. This milestone demonstrates the sector’s commitment to sustainability and aligning its business activity to the promises made in the Paris Agreement and the UN’s Sustainable Development Goals.
Today, international banks BBVA, BNP Paribas, ING, Société Générale and Standard Chartered (also known as ‘the Katowice Banks’) published a report on the application of the PACTA methodology, designed to steer their credit portfolios towards the objective of the Paris Climate Agreement. This report aims at helping banking peers to quickly understand and apply this methodology and thus publish comparable results.
BBVA and Grupo Piñero agreed three sustainable bilateral financing deals on behalf of Levantur. These are the first sustainable bilateral loans to be guaranteed by Spain’s Official Institute of Credit (ICO). The Spanish tourist Group will use the financing for liquidity and working capital needs arising from the economic impact caused by the COVID-19 pandemic.
BBVA and the Korean energy company, SK Innovation, have signed a working capital loan of €100 million to expand the company’s electric vehicle battery manufacturing facilities in Europe. This transaction is the first working capital loan certified by BBVA in Asia in compliance with its sustainable transaction banking framework.
The bank — which has committed to securing €100 billion in sustainable financing between 2018 and 2025 as part of its contribution in the fight against climate change — reached 40 percent of its sustainable financing target in June 2020. This figure includes transactions in green and social financing (62 percent of the total), social entrepreneurism and financial inclusion (13 percent), sustainable infrastructure and agribusiness (11 percent), and other sustainable sources (14 percent).
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.
Within the framework of its Global Eco-efficiency Plan 2016-2020, BBVA recently signed an agreement in Argentina to buy electricity from wind farms, a clean source of electricity that uses wind turbines to transform wind energy into electric power.
BBVA keeps making strides in its sustainability commitment. The bank, in coordination with Caixabank, has signed the first ever sustainable loan with a pharmaceutical company in Spain. The scheme is divided into three tranches: a long-term loan, a revolving line and a credit line for acquisitions, subject to a six-year maturity term.
Many institutions and world players have spearheaded initiatives that are pursuing a common goal: to emerge from the coronavirus crisis with a sustainable and green recovery. Manifestos, letters, commitments, institutional statements, and calls to action have proliferated as the impacts of the crisis have worsened. Many of these initiatives are supported by the European Union; its leaders have approved a historic agreement to address the deep recession caused by COVID-19. It’s the era of green partnerships, and BBVA is an active participant.
BBVA and Acerinox make history by closing the first sustainable transaction in the steel industry in Spain. The deal, a bilateral loan totaling €80 million with a maturity of five years, is intended to partially finance the Acerinox acquisition of VDM Metals.
Many families are struggling under the economic impact of the pandemic, especially those affected by joblessness. Financial vulnerability refers to the ability of individuals or households to cope with a 'shock' that entails the loss of their main source of income.
BBVA’s Center for Financial Education and Capability’s grant program has selected the financial education research projects that will receive financing this year. One of the novelties of this edition is that seven grants will be given this year, instead of five like in previous years. A total of 40 projects from 23 countries were presented.
A bond is a debt instrument that companies issue in capital markets to attract financing from institutional investors (for example, investment funds). Banks also issue debt: it is a way of obtaining funds that they later use to grant loans to their clients. Along with customer deposits, issuances are, for banks, an additional source of financing to carry out their activity.
The impact of the COVID-19 crisis is laying bare existing social and economic gaps across the globe. According to a paper by the Federal Reserve Bank of New York, minority-owned businesses have a poorer financial health, and are struggling more under posed by the global pandemic.