Sustainability

The cleantech ecosystem is advancing at different rates. While technologies such as solar and wind power are already consolidated, innovations such as carbon capture and green hydrogen still have a long way to go. Reaching the maturity of these solutions is key to  sustainability and requires strategic investment to accelerate global decarbonization.

In the first quarter of 2025, BBVA channeled approximately €29 billion into sustainable business initiatives, marking a 55 percent increase on the same period in 2024. This figure is part of the bank’s new target of channeling €700 billion into the sustainable business between 2025 and 2029, more than  double its previous target and also raising the bar, given the shorter timeframe involved (five years versus eight).

BBVA has successfully renewed the Tier IV Gold certification for its Data Processing Center (DPC) in Tres Cantos (Madrid), the highest recognition awarded by the Uptime Institute for the management and running of these cutting-edge technology complexes. This achievement has been made possible thanks to the implementation of more than 30 energy-saving measures in recent years.

BBVA CIB and the company Basque Hydrogen have signed the first project finance loan on the Iberian Peninsula to finance an electrolytic hydrogen plant to produce synthetic fuels (e-fuels) in the Bilbao port. BBVA made the announcement during the largest European conference on innovation and financing for the energy transition, the Energy Tech Summit, which starts on Wednesday in Bilbao. The event will bring together over 1,500 experts from the cleantech ecosystem.

BBVA is the main sponsor of a new edition of what is the largest European conference on innovation and financing for the energy transition, which will run from April 9 to 10 at the Euskalduna Palace in Bilbao. This year’s event will notably feature a debate on the key resources needed to achieve a more sustainable energy model.

BBVA and Técnicas Reunidas have signed a Memorandum of Understanding (MoU) with the aim of promoting the development of initiatives and projects linked to the energy transition and the decarbonization of the economy.

For the third year running, BBVA has been busy promoting training in sustainability for 466 of its SME suppliers in 13 countries where it operates, showing an 11 percent improvement on the 2024 figure (418 companies). In total, 593 people will take part in the Sustainable Suppliers Training Program of the UN Global Compact (up 7 percent on the 552 in 2024).

BBVA CEO Onur Genç believes that decarbonization requires ‘massive’ capital investments. “Europe needs large banks to finance clean technologies, or ‘cleantech’, on a greater scale,” he said at an event held at the bank’s headquarters in Madrid.

The financial institution is developing an internal manual to give visibility to the reality of the people on the autism spectrum in the workplace and society. The goal is to make all professionals at the bank aware of this neurodivergence and promote a working environment that facilitates the integration of this group, makes the most of their strengths and understands the barriers they face.

For the fifth consecutive year, the bank will donate €300,000 to social organisations operating in the social and environmental spheres at its Annual General Meeting. The winning entities for 2025 are the Asociación Madrileña Para Ayuda del Recluso Abandonado, the Asindown Foundation, the Francisco Luzón Foundation, and the Scout Griebal Foundation.

Cleantech is key to moving toward sustainability, although to continue growing it must overcome certain challenges, notably the €50 billion investment gap that currently exists in Europe until 2030, according to Cleantech for Europe. Public-private partnerships and the development of innovative solutions are essential to unlock its potential and ensure wider access to clean technologies.

‘Is our last chance?’ features eight documentaries that aim to draw attention to the urgent environmental and social impacts of climate change. From rising sea levels and increasing droughts to ecological devastation, the documentaries emphasize the pivotal role water plays in ecosystems, economies, and communities, and call for sustainable management of this vital resource. The screenings will take place at Salt Beyoğlu's Open Cinema from March 19 to April 19, 2025.

Battery energy storage systems (BESS) have become a solution to prevent surpluses from being lost and to cover the intermittence of renewable energy. “We need energy storage solutions to make them permanent,” says researcher and electric battery expert Philippe Knauth in an interview for bbva.com. He also points out that the democratization of energy depends on “the combination of renewable energies and energy storage.”

Clothing is much more than something to keep us warm: it is a powerful expression of our identity, culture and ideas. Brands are becoming increasingly aware of the importance of creating quality clothing that is not only attractive, but also sustainable, and that showcases their commitment to the planet and the future.

Cleantech Way: download the BBVA and Ethic publication

In Houston, BBVA Chair Carlos Torres Vila underscored the expected sharp rise in energy demand, especially electricity, and the enormous investment needed in infrastructure and innovation to address this challenge. “The growing demand for energy means European banks need greater scale to finance it,” he said while participating in CERAWeek 2025, the leading global event in the energy sector organized by S&P Global. The BBVA Chair also stressed the importance of capital markets and shareholders determining the results of the consolidation process underway in countries such as Spain, Italy and Germany.

BBVA and research provider BloombergNEF (BNEF) will work together to enhance and strengthen BBVA’s energy transition knowledge and expertise in clean technologies. The announcement was made during an event held in Madrid where the agreement and its objectives were presented.

The Carbon Disclosure Project (CDP) recently recognized Garanti BBVA’s efforts in sustainable development by including the bank in its global ‘A’ List of its Climate Change and Water Security Programs.

BBVA is set to channel €700 billion in sustainable business between 2025 to 2029, more than double the previous target of €300 billion set for the 2018–2025 period, which it reached in December 2024, one year ahead of schedule. This new, more ambitious objective will also run for a shorter period (five years as opposed to eight).

The bank has reached 35.4 percent women in managerial positions, exceeding the target of 35 percent by 2024. Initiatives such as the global program ‘Yo soy talento feminino’ (I am female talent), is helping to boost the development of women with greater potential.

The aviation industry consumes 380 billion liters of fuel every year, or three percent of global  CO2 emissions. Sustainable aviation fuels  (SAF) are the most advanced cleantech alternative to decarbonize this industry, with innovations such as those of the startup Twelve, which have managed to reduce emissions by up to 90 percent compared to traditional fuels.

BBVA channeled €99 billion in sustainable business in 2024, setting a new annual record for the Group. BBVA reached this target of €300 billion in the 2018-2025 period one year earlier than planned.

BBVA CEO Onur Genç proclaimed at The World Economic Forum that in the Iberian Peninsula “we have in front of us a great opportunity to promote cleantech investment on a major scale.” In his view, it is essential to harness the development of industrial clusters in Spain and Portugal to lead the energy transition in Europe. In this context, the Iberian Peninsula has tremendous potential to generate economic growth on the back of clean technologies.

BBVA’s Turkish franchise secured its highest-ever score of 85 in the 2024 S&P Global Corporate Sustainability Assessment (CSA), leading Türkiye’s banking sector once again. The bank also ranked 15th globally among 668 financial institutions assessed, further cementing its position as a leader in sustainability. S&P Global-CSA is one of the most respected platforms for evaluating corporate sustainability, providing a benchmark for international investors. The assessment covers areas such as business ethics, governance, risk management, climate action, transparency, and human rights.

By 2030, clean technologies, or ‘cleantech’ will mobilize over €150 billion of investment and create 2.65 million new jobs in the Iberian Peninsula, according to ‘Cleantech for Iberia’. These are some of the projections of the potential growth included in the new monographic study on sustainability published by BBVA, in this edition dedicated to clean technologies.