BBVA creates a sustainability hub in Houston to become the bank of choice to finance the U.S. energy transition
BBVA Group opened a new office in Houston with the aim of leading the financing of the energy transition in the United States. This move to support its sustainability is spurred by the BBVA´s Group´s plans for growth in the country and forms part of its Corporate & Investment Banking (CIB) operations in the United States.
“We aim to make sustainability a driver of growth, support decarbonization projects, and position BBVA as the leading player in sustainable finance in the United States,” says Javier Rodríguez Soler, BBVA’s Global Head of Sustainability and CIB.
"We aim to position BBVA as the leading player in sustainable finance in the U.S."
BBVA’s U.S. sustainability strategy focuses on supporting energy companies and those that promote sustainable development, including traditional renewable technologies like wind and solar, as well as emerging "cleantech", such as energy storage systems, hydrogen, and carbon capture. It also covers sectors like electric vehicles, energy efficiency, and the circular economy. The strategy aims to help companies transition to more sustainable business models through financing and advisory services.
These plans will help BBVA achieve its goal of mobilizing €300 billion in sustainable business between 2018 and 2025. As of June 2024, the bank had already reached €252 billion.
Houston, energy transition capital of the world
"The United States has a unique opportunity to lead the global transition to a more sustainable economy. Our office in Houston, the energy transition capital of the world,
will be a key component of our sustainability strategy, complementing and integrated with our New York operations," said Alvaro Aguilar, BBVA's Head of Strategic Projects in the United States.
BBVA made the announcement at the first annual Houston Energy & Climate Week, of which the bank was a sponsor.
With over 4,700 energy-related companies¹ and ground-breaking leadership in the sector, Houston has become the world's energy transition capital. The city is the global hub for companies leading decarbonization efforts.
This new Houston location will work alongside the cleantech innovation finance teams working in New York, London and Madrid.
Houston has also recently welcomed BBVA Mexico's nearshoring unit, which supplements BBVA Mexico's long established Houston agency’s operations. By the end of 2025, the Houston location is expected to house approximately 100 BBVA Group employees, making it an important growth focus for BBVA.