BBVA has acted as global and sustainability coordinator and advisor for COFCO International, the overseas agriculture business platform of China-based COFCO Corporation, in a new syndicated sustainable facility. For a total of USD 700 million and a tenor of 3 years, this financing is the second sustainability-linked loan (SLL) arranged by COFCO International, the sector’s leading sustainability performer and one of the most active commodity traders in the sustainable loan market. Apart from the coordinator roles, BBVA has also been appointed facility agent among a syndicate of seven international and Chinese banks.

BBVA is one of the 30 founding institutions of the Principles for Responsible Banking. In the last two years, it has reinforced its commitment to them through multiple actions, accessions and alliances with supranational organizations. In addition, and after incorporating sustainability as one of its strategic priorities in 2020, the bank recently created a global area of sustainability to elevate this matter to the highest executive level of the organization.

Banking sector commitment to UN Principles of Responsible Banking gains firm and steady traction: two years after launch 240 institutions have already become signatories. We take a look at this project of United Nations Environment Program Finance Initiative (UNEP FI) and the progress achieved since it launched two years ago.

With increasing frequency, Governments and financial and non-financial organizations are relying on the so-called sustainable finance instruments to fund projects intended to create a positive impact on the environment - such as the development of eco-friendly energy sources - and promote social and inclusive growth. In Spain, sustainable finance mobilized a total of €33.03 billion in 2020, according to data from the Spanish Observatory for Sustainable Financing (OFISO).

The BBVA unit thus becomes the first and only Turkish bank to join the Net-Zero Banking Alliance (NZBA), which was launched in April by the United Nations Environment Programme Finance Initiative (UNEP-FI).

This September 1, BBVA has returned to the markets with a two-year floating rate senior preferred bond (FRN) issue. Investors’ interest in the bond issue was extraordinary, with demand reaching €4.75 billion, which allowed the bank to reduce the price to 15 basis points plus 3-month Euribor, which is 20 bps lower than the initial price talk (IPT). The social nature of the bond allowed the issue to close below the reasonable price assigned to the bond. “The market’s response has far exceeded expectations,” commented BBVA’s wholesale funding team in charge of the operation.

BBVA has been recognized as the world's global leader in sustaining communities at the Global Finance Awards 2021, which recognize global and regional leaders in different categories. The publication has especially valued “the bank's support for entrepreneurs via the Microfinance Foundation.” BBVA, the only Spanish bank to receive recognition as a “global leader”, has also won five other regional awards in different categories related to sustainability.

Green digital finance is geared to finance initiatives with a sustainable development goal. Its aim is to speed up the reassignment of capital to carbon-neutral assets and release new sources of climate and socially just finance.

Nabiax, a leader in data centers in Spain and Latin America, has converted one of their financing in the project finance format into a sustainable one for €320 million. BBVA acted as the sustainable coordinating bank for this sustainable financing that marks a milestone in the data technology sector.

The World Economic Forum's (WEF) Alliance of CEO Climate Leaders, released a letter today, calling on the G7 and other world leaders to support a just transition. BBVA Chairman Carlos Torres Vila, the sole representative of a Spanish bank, has signed, together with 78 other CEOs or heads of large global companies, a declaration whose objective is to promote the contribution of the private sector in the fight against climate change.

BBVA reinforces its commitment to reducing the risks of climate change and joins PCAF (Partnership for Carbon Accounting Financials), an alliance that enables financial institutions to assess and disclose the greenhouse gas (GHG) emissions  of loans and investments.

BBVA Asset Management and Robeco have struck a deal whereby the Dutch firm will advise BBVA's sustainable equity funds. Strengthening the sustainable range is a strategy the asset management company has closely focused on in recent months. Partnering with Robeco will enable us to address this goal by opening up a new dimension while boosting efficiency and flexibility by leveraging the strengths of the two financial groups.

In 2020, BBVA allocated €79.1 million (55.6 percent of its total investment in social programs) to initiatives in support of education, knowledge and culture, benefiting 5.6 million people. In addition, over 2.2 million users accessed the content on education, science, culture and economics, which was provided by the bank through the digital platforms for its initiatives and programs. The BBVA Foundation and its activities also benefited 3.5 million people.

BBVA has joined the Net-Zero Banking Alliance (NZBA) as one of the 43 founding members. Banks in this international alliance commit to ensuring that all of their credit and investment portfolios are neutral in net emissions of greenhouse gases by 2050, in line with science and the most ambitious targets in the Paris Agreement. In addition, the direct impact of their activities must also be neutral - something that BBVA already achieved in 2020.

BBVA has fulfilled its commitment to offer a sustainable alternative for its products in Spain - both for individuals and companies. The wide range of sustainable solutions is designed to respond to society’s growing demand and to help customers make the best financial decisions that also help the environment.

BBVA and Enel have signed a €1.35 billion sustainable linked guarantee facility. This guarantee facility, the largest of its kind signed by Enel Group, is an essential and necessary financial tool for the company’s entire operations: production, transport and distribution of electricity and gas, and public lighting services.

Citizens, companies, city councils and institutions from all over the world will turn off the lights this Saturday, March 27 for Earth Hour to fight against climate change and the loss of biodiversity. Since 2007, BBVA has participated in this initiative organized by the World Wide Fund for Nature, shutting down corporate headquarters and buildings distributed throughout all the geographies where the bank is present.

BBVA became carbon neutral in direct CO2 emissions in 2020. The Group managed to meet this goal by offsetting its entire carbon footprint through carbon mitigation projects, which also benefited the local communities where they are developed. The bank offset 120,562 tons of CO2e during the year through seven projects developed in different countries across its footprint. This achievement represents another step towards in its push to align its activity with the Paris Agreement and reduce direct and indirect emissions.

BBVA reinforces its leading position in the European sustainable bond issuance. On this occasion, the bank has acted as sole green structurer and bookrunner for the successful issuance of the green bonds of Scottish Hydro Electric Transmission plc (SHET), an electricity transmission company and subsidiary of SSE plc. With this dual tranche transaction, the company consolidates its position as the UK's most active utility in ESG bond financing.