BBVA mobilized €11 billion in sustainable financing between January and March, 2022, up 26% and a quarter record
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.
With €96.7 billion mobilized between 2018 and the first quarter of 2022, BBVA has almost reached half of its target for sustainable financing by 2025, set at €200 billion, after announcing in July 2021 that it would double this initial target.
“Sustainability is becoming a key lever for the Group's growth,” explained BBVA's CEO, Onur Genç, at the presentation of the results for 2022's first quarter. Genç emphasized the origination of sustainable retail business in the first quarter of 2022, which has quadrupled its figures, compared to the same period of the previous year.
BBVA has doubled its sustainable business in business banking and increased corporate and investment banking by 18%. Sustainable mobility financing for retail customers has increased by two and a half. Business generated for energy efficiency (green mortgages, solar panels and efficient household appliances for retail customers) increased fourfold. Certified sustainable construction multiplied its business by 3.4 times in the first quarter of 2022 compared to the same period in 2021.
BBVA and its commitment to sustainability
BBVA incorporates climate change risks and opportunities into its investment and financing decisions. The bank promotes sustainability in each of its operations and products. It currently has a catalog of sustainable alternatives for all its products in Spain and will continue along this path in the rest of the geographical areas in which it operates.
Furthermore, BBVA - alongside South Korea's KB Financial Group - obtained the highest score in its sector in the Dow Jones Sustainability Index (DJSI), making it the most sustainable bank in the world, according to this index.