The Organization for Economic Co-operation and Development (OECD) has just published the Private Philanthropy for Development statistics detailing the contribution of the 40 largest foundations in the world. For the third consecutive year, the BBVA Microfinance Foundation (BBVAMF) is the second worldwide and the first in Latin America.

BBVA mobilized €10.81 billion in sustainable financing between January and March, 2022, up 26% from the previous quarter, making it a quarter record. In total, BBVA has mobilized €96.7 billion in sustainable financing between 2018 and 2022’s first quarter.

Garanti BBVA recently launched a new tool to allow customers to view their carbon footprint. The new feature on the Garanti BBVA mobile app calculates their carbon emissions based on utility and fuel expenditures, and aims to contribute to a more sustainable world, and the climate crisis.

In January 2022, the European Central Bank (ECB) launched the first stress test for European banks using climate criteria. Ana Rubio, the Head of Financial Regulation at BBVA, and Antoni Ballabriga, the Global Head of Responsible Business at the bank, help us to better understand exactly what these tests are.

As part of Garanti BBVA’s commitment to support Turkey's fight against climate change, the bank has signed an agreement with energy company ABB to promote rapid charging stations for electric vehicles.

BBVA's environmental footprint has decreased considerably in the past two years. In 2021, energy consumption per employee was 14% lower than in 2019, water consumption was 5% lower and paper consumption was 32% lower. Net waste per employee dropped by 52% over the same period.

On April 21, 2021, 43 financial institutions from around the world formed the Net Zero Banking Alliance (NZBA).   BBVA now celebrates its first anniversary as a founding member by leading progress in the financial sector toward a more sustainable world.

BBVA’s donation drive in Spain among its employees, customers and non-customers has already collected two million euros, in addition to the bank’s own contribution of one million euros. Nearly 50,000 donors have joined this campaign in aid of Ukraine.

BBVA has announced a 20 million dollar investment in Lowercarbon Capital, one of the few venture capital funds specializing in innovative companies in the climate change and decarbonization fields.  This investment will focus specifically on the carbon capture sector.

Uber, Instagram, Twitter, and Google are some of the companies in which Lowercase Capital & Lowercarbon Capital's founders invested when they were startups. Chris and Crystal Sacca have invested in innovative startups for years, first in technology and more recently in the fight against climate change. As widely known investors, activists and philanthropists in the U.S., they devote a major effort to environmental protection.

The pandemic has shown the importance of having insurance to cover hospital expenses, temporary unemployment or death. These unexpected expenditures are a shock for people under vulnerable conditions and their household economy. Microinsurance are products tailored to address these needs and offer protection to low-income persons aiming to guarantee their well-being and security in the face of risks, all at affordable prices.

BBVA will co-chair the Climate Finance Leadership Initiative (CFLI) in Colombia, a new public-private partnership that aims to mobilize capital in support of Colombia's climate goals. The initiative will be replicated in other countries to close the climate finance gap in emerging markets.

Social taxonomy is the classification of economic activities that significantly contribute to social goals in the EU and represent a common code for investors, businesses and regulators regarding what is sustainable from a social perspective and what is not.

Three energy projects financed by Garanti BBVA were recently presented with three awards by IJ Global, one of the world's leading journals for energy and infrastructure finance. The prestigious magazine recognized the bank for three projects it financed. The Star Refinery project was presented the award for the Oil and Gas Project of the Year in Europe; the Central Anatolian Natural Gas Combined Cycle Plant project (with installed capacity of 853 MW) won the award for the Best Energy Restructuring Project of the Year in Europe; and the Kalyon - YEKA Karapinar Solar Power Plant Project received the award for the Export Finance Agreement of the Year.

Garanti Bank is cooperating with the Turkish Marine Environment Protection Association/TURMEPA to further its goal of working toward a sustainable world and combating the climate crisis. Both organizations are collaborating to collect waste and prevent marine pollution in the Marmara Sea and the provinces of the region as part of the “Blue Breath Project”.

Garanti BBVA once again made the Dow Jones Sustainability Index, thanks to its efforts to incorporate sustainability in its strategy and all of its activities. The bank has been included in the prestigious index since 2015.

As part of its focus on sustainability, Garanti BBVA is once again the main supporter of Earth Hour - a WWF campaign since 2007.

Given the massive influx of Ukrainian refugees leaving their country as a result of the Russian military invasion and looking for a place to live, BBVA has offered the Ministry of Inclusion, Social Security and Migrations 200 homes for refugees. The homes will be able to house up to 800 people and are spread throughout Spain, but are mostly located in Catalonia, Valencia and Andalusia.

BBVA adheres to a statement signed by 49 companies around the world to support people fleeing Ukraine and address their immediate needs. The companies involved include Adidas, Amazon, Deloitte, FedEx, L'Oréal, Pfizer, Unilever and Virgin. The initiative is part of the Tent Partnership for Refugees, a global non-profit. BBVA made  a donation of 1 million euros to improve the living conditions of refugees.

BBVA has launched its Global Financial Education Plan through 2025 with the aim of training one million people and reaching 50 million people who access BBVA content on this subject. The plan, which will be implemented in all countries where BBVA is present, has three lines of action in financial education: society, business support and collaboration.

Garanti BBVA is to start producing environmentally-friendly cards from recyclable plastic. This will be first used with the bank’s Green Bonus cards, which will use the minimum possible amount of PVC.

BBVA is firmly committed to working towards building a greener and more inclusive society. To this end, for the second consecutive year and on the occasion of the Annual General Meeting, the bank will make a donation of 300,000 euros to social organizations working in four areas related to the environment and inclusive growth. ATADES, Aldeas Infantiles SOS, Asociación Amica and ECODES were the winning organizations in 2022.

BBVA has reinforced its commitment to the environment by releasing its third report according to recommendations issued by the Task Force on Climate-Related Financial Disclosures (TCFD). In a TCFD report, companies showcase their environmental activities and provide information on risks and opportunities around climate change.

Garanti BBVA has signed a contract with Standard Chartered for $75 million with a maturity of 370 days. In doing so, it repurchased a repo transaction related to  Environmental, Social and Governance (ESG), realizing the first repo transaction indexed to sustainability performance.

BBVA's CEO, Onur Genç, expressed BBVA's intention to go beyond financing and advising its customers in the transition to a sustainable future. At the IIF Sustainable Finance Summit, he announced that “BBVA will invest in promising innovative companies involved in decarbonization”.

BBVA has launched a donation campaign amongst its customers and employees in Spain, aimed at aiding in the humanitarian crisis that Ukraine is suffering. Moreover, BBVA will enable free transfers from individuals to Ukraine from March 7.

Garanti BBVA in collaboration with Ekonomist magazine and the Turkish Association of Female Entrepreneurs (KAGİDER) recently celebrated the 15th edition of the Women Entrepreneur Competition. During the awards ceremony on March 3rd, the winners of the four leading categories were announced.

In 2021, 79 percent of energy consumption at BBVA's facilities around the world came from renewable sources, surpassing the 70 percent target set in its 2025 Pledge on direct environmental impacts. The bank has also managed to reduce its direct CO2 emissions worldwide by 67.5 percent compared to 2015, very close to the 68 percent target set for 2025.