BBVA named Europe's most sustainable bank for the fourth year in a row in the 2023 Dow Jones Sustainability Index
For the fourth consecutive year, the Dow Jones Sustainability Index (DJSI)¹ awarded BBVA the best score in the European banking category. The DJSI, which released its new annual breakdown on December 8, 2023, is the world's leading sustainability index. A total of 27 banks from around the world won a place in this year’s ranking.
BBVA earned a total score of 84 points out of 100. The bank achieved 84 points in the economic and corporate governance dimension, 70 points in the environmental dimension, and 89 points in the social dimension. In addition, the bank achieved a perfect score (100 points) in several assessed areas: transparency and reporting; tax strategy; human rights; and customer relations.
“To be recognized as the most sustainable bank in Europe for four years in a row by the leading global sustainability index is a milestone for us. At BBVA , our aim is to support our clients in their transition to sustainability, while encouraging inclusive growth in our host societies. We have a key role to play as intermediaries on this journey toward a green and just transition. We are not the central players, but our role is still decisive in supporting the entire economy in its decarbonization," said Javier Rodríguez Soler, Global Head of Sustainability and CIB at BBVA.
This year, over 13,000 companies were invited to take part in the S&P Global Corporate Sustainability Assessment (CSA). More than 3,400 of the invitees went on to complete a questionnaire of over 100 items on environmental, social and governance (ESG) issues.
Only the top 10% of companies in each sector in this analysis were selected to join the index. Assessment by S&P, the rating agency, determines companies' inclusion in the Dow Jones Sustainability Index.
BBVA and its commitment to sustainability
BBVA places sustainability at the core of its business. Sustainability is one of its six strategic priorities to address three major challenges: fighting climate change, preserving natural capital and driving inclusive growth.
In 2022, BBVA raised its target for mobilizing sustainable business in the period 2018-2025 to €300 billion, three times its initial target.
In climate action, BBVA continues to take steps toward carbon neutrality by 2050, not only in its own emissions but also in those of its clients. BBVA will stop financing coal-driven companies by 2030 in developed countries and by 2040 globally, as foreseen in its Environmental & Social Framework. In addition, BBVA has set intermediate targets to decarbonize its portfolio in other carbon-intensive industries (oil and gas, power generation, automobiles, steel, cement) by 2030.
BBVA Peru has been included in the indices DJSI MILA Pacific Alliance for the second year in a row. It is the only bank in Peru to feature in that index.
BBVA in the sustainability indexes
BBVA is included in the main international sustainability indexes, including the MSCI ESG Leaders Index and the FTSE4Good Index. The bank also has a spot in the Bloomberg Gender Equality Index.
Selection to and continued membership of these indices depends on proving consistent progress and influences eligibility in investment portfolios, which attach increasing importance to companies' non-financial factors.
S&P Dow Jones Indices
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI) that provides essential financial intelligence to individuals, businesses and governments for optimal and confident decision making. For further information: www.spdji.com.