BBVA channels €29 billion into sustainable business in Q1 2025, up 55 percent year on year
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).
Of the total amount channeled this quarter, 78 percent targeted activities related to climate change and natural capital—including efficient water use, sustainable agriculture, and the circular economy. The remaining 22 percent was set aside for projects relating to social, educational, and healthcare infrastructure, entrepreneurship and support for fledgling companies, along with financial inclusion for disadvantaged groups.
Note: Sustainable business channeling is considered to be any mobilization of financial flows, cumulatively, in relation with activities, clients or products considered to be sustainable or promoting sustainability in accordance with internal standards and market standards, existing regulations and best practices. The foregoing is understood without prejudice to the fact that said mobilization, both at an initial stage or at a later time, may not be registered on the balance sheet. To determine the financial flows channeled to sustainable business, internal criteria is used based on both internal and external information. Figures exclude BBVA Asset Management and Fundacion Microfinanzas BBVA activity.
Contribution by segments
Corporate & Institutional Banking (CIB) mobilized around €15.2 billion, up 49 percent year on year. Its activities include renewable energy project financing and sustainability-linked reverse factoring, among other strategic initiatives. Notably, renewable energy project financing contributed around €600 million.
The Companies unit channeled roughly €10.8 billion (+58 percent year-on-year), focusing mainly on energy efficiency solutions, vehicle fleet renewal, and efficient water use. Within this segment, €1 billion was set aside for natural capital, with Mexico accounting for about half of this figure, especially in the agricultural sector.
The Retail Business contributed approximately €2.8 billion, up 85 percent year on year, mainly targeting products that promote energy savings in homes and transport, including financing for hybrid and electric vehicles.
Sustainability as a business opportunity and growth driver
On February 24, 2025, BBVA announced a new sustainable business target of €700 billion, to be mobilized between 2025 and 2029, more than double the previous target of €300 billion set for 2018–2025, which as of December 2024 had already been achieved—a full year ahead of schedule. The shorter five-year horizon reflects BBVA’s strategic focus and strong desire to push ahead with its sustainability agenda.
According to Javier Rodríguez Soler, Global Head of Sustainability and CIB: “BBVA was one of the first companies to recognize the positive impact of sustainability on the financial industry. It represents a business opportunity and is one of our strategic priorities. We aim to turn it into a key growth driver by funding investments to meet the growing demand for clean and efficient energy. Tailored advisory services for each market segment and the transformation of risk processes are essential to achieving this differential growth.”