BBVA has ranked first among European banks in the Dow Jones Sustainability Index (DJSI), the market's leading benchmark index, which measures the economic, environmental and social performance of the world's largest companies by market cap. The BBVA Group also took second place in the world ranking. The announcement was made on Friday, at the closing of the stock market in New York.
BBVA received the highest mark (100 points) in areas such as financial inclusion; environmental reporting; social reporting; corporate citizenship and philanthropy; occupational health and safety; tax strategy; and policy influence. The bank achieved a global mark of 87 points, five points higher that in 2019.
"At the beginning of 2020, BBVA included sustainability in its strategic priorities. To be ranked as Europe's first bank in the Dow Jones Sustainability Index shows our commitment to facing the social and environmental challenges ahead of us," said Ricardo Laiseca, Head of BBVA's Global Sustainability Office.
"We congratulate BBVA for being included in the Dow Jones Sustainability Index World and Europe. A DJSI distinction is a reflection of being a sustainability leader in your industry. With a record number of companies participating in the 2020 Corporate Sustainability Assessment and more stringent rules for inclusion this year, this sets your company apart and rewards your continued commitment to people and planet," said Manjit Jus, Global Head of ESG Research and Data, S&P Global.
Only 25 banks may enter the global ranking
The DJSI Index is an international sustainability benchmark, which is elaborated by rating agency SAM, part of S&P Global. This year saw record numbers of participating companies, with an increase of 18.9 percent compared to 2019. Only 25 banks may enter the global ranking, out of 253 financial institutions analyzed in the banking sector.
The analyzed companies are required to submit a thorough questionnaire every year, consisting of some hundred questions that cover a wide range of issues, including climate change strategy, talent management and environmental reporting.
Earlier this year, BBVA published its General Sustainability Policy and its first report on the risks and opportunities associated with climate change according to the Task Force on Climate-related Financial Disclosures (TCFD) standard. This report includes BBVA's progress in the inclusion of climate risks in the management of all of its businesses and the bank’s commitment to accompanying its clients in the journey toward a more sustainable future.
Furthermore. BBVA has recently joined the Nasdaq Sustainable Bond Network (NSBN), which consists of the various sustainable debt issuers in the world and is a clear reference point for socially responsible investors. BBVA is the only Spanish bank on the platform,
BBVA is listed in the world’s leading sustainability indices, including the MSCI ESG Leaders Index, FTSE4Good Index, Euronext Vigeo Index Eurozone and Europe 120 and the Ethibel Sustainability Excellence Europe and Global indices. The bank is also included in Bloomberg’s gender-equality index, and it recently obtained an 'A-' mark in the latest analysis by CDP Climate Change.
To be included in these indexes, companies are expected to show constant progress in sustainability matters. This inclusion has also a relevant impact in terms of their eligibility for investment portfolios, which concede an increasingly importance to non-financial factors.
BBVA's Turkish unit Garanti BBVA has also secured a position in the DJSI Emerging Markets index for the sixth consecutive year.