Compiled by S&P Global based on its proprietary ESG Scores, the DJSI uses publicly available information from participating companies. BBVA in Peru's performance in the Governance dimension had the greatest weight in the assessment, followed by the Social and Environmental factors.
The report also noted the bank's outstanding achievement in the Consumer Relations, Transparency & Reporting and Tax Strategy areas, where it earned a perfect score every time (100 points). The bank also excelled in Business Ethics (93 points), Human Capital Development (92) and Climate Strategy (84), demonstrating impressive strength in the various topics examined.
“We are proud and honored that our sustainable strategy consistently upholds the highest standards of the local financial industry. This is how we reaffirm our commitment to help our clients in the transition to a low-carbon, greener and more inclusive economy," said Fernando Eguiluz, CEO of BBVA in Peru.
The Dow Jones Sustainability Indices gauge the performance of participating companies using environmental, social and governance criteria. According to information provided by S&P Global, an ESG Score is "a relative score measuring a company's performance on and management of ESG risks, opportunities, and impacts compared to their peers within the same industry classification.”
Committed to sustainability
Since 2020, BBVA has included sustainability among its strategic priorities, with an emphasis on climate change and inclusive and sustainable social development. However, even before then, the bank delivered on its commitment to sustainability for many years, launching sustainable finance initiatives in the geographies where it operates. In 2018, for instance, BBVA and Ferreycorp signed a bilateral green loan, the first of its kind to be arranged in Peru and in all of South America.
BBVA's leadership in sustainability is also reflected in its Objetivo 2025 initiative, the bank’s pledge to mobilize €300 billion in sustainable finance by 2025. BBVA will have already exceeded 60 percent of this target amount by the end of 2023.
BBVA's efforts have led the Dow Jones Sustainability Index 2023 to rate it as Europe's most sustainable bank for the fourth consecutive year: BBVA achieved the best score in the banking category in the region and the second best score worldwide.