Sustainable Finance

BBVA closed 2023 reporting good progress in decarbonizing its credit portfolio. Improvements in plan delivery reached 24 percent in key sectors —such as oil and gas— for which 2030 targets were set. As of December 2023, 80% of the finance portfolio in high-emission sectors relates to clients actively managing their transition, according to the latest TCFD report published by the bank.

It is the BBVA Group’s first ever blue bond, which are securities used to finance projects geared toward ocean sustainability and the Blue Economy.

BBVA was selected as one of the bookrunners for Colombia's first issue of social bonds in the international market. The debt was rated Baa2/BB+/BB+ for its inaugural offering and was denominated in US dollars with a dual-tranche format maturing in 2035 and 2053. It is an integral part of the Colombian government’s sustainable strategy, and is the first time the country has issued social bonds and only its second issue under ESG (Environmental, Social and Corporate Governance) criteria, following the placement of Green Treasury Notes in 2021, in which BBVA also acted as lead bookrunner.

BBVA mobilized €15.6 billion in sustainable corporate business between January and September 2023 (up 95 percent from the same period the previous year) and €7.3 billion in retail banking (up 69 percent). Both segments have consolidated growth in the mobilization of sustainable business.

The agreement between Hochschild Mining and BBVA is a ‘Club Deal’ facility totaling $200 million in favor of the mining companies Ares and Amarillo Mineraçao do Brasil.

With BBVA financing, Supermercados Peruanos seeks to have a direct impact on the percentage of recycled waste and to increase the number of people benefiting from its food donation program ‘Bueno por dentro’ (Good on the inside).

BBVA Chair Carlos Torres Vila stated that "the investment necessary for the economy to function without emissions must make economic sense, since a large part of it will come from the private sector." At a round table hosted by UNEP FI in Madrid, he stressed that "decarbonization will occur when investments in emerging green technologies prove profitable."

From April to June 2023, BBVA channeled around €19 billion in sustainable business. This figure, showing growth of around 30 percent compared to the same period of the previous year, sets a new quarterly record. In total, BBVA channeled €169 billion in sustainable business from 2018 to June 2023, well over half of the €300 billion target laid down for the 2018-2025 period.

BBVA and Tiendas Ara, a major chain of discount stores,  have teamed up to offer a new line of social-impact reverse factoring. The aim is to provide Ara’s suppliers, mainly micro, small and medium-size companies, with access to more affordable finance solutions. In line with the commitment to narrow inequalities and build lasting relationships with local suppliers to boost domestic production and foster job creation, Tiendas Ara is the first company to join this initiative in Colombia.

BBVA Asset Management published its first report on environmental activity, based on the recommendations of the Task Force on Climate Financial Disclosures (TCFD). It is the first Spanish asset manager to make this commitment to transparency. The report includes the environmental progress of the asset management area and incorporates information on the risks and opportunities associated with climate change.

BBVA’s Turkish unit has renewed its syndicated loan agreement obtained from international markets within the scope of its foreign borrowing program and in accordance with social sustainability criteria.

Spain is a key market to promote sustainability at BBVA. In the first quarter of 2023, the bank channeled €7.81 billion euros in sustainable business in this market - up 40 percent from the same period last year and more than 50 percent of the total amount (approximately €14 billion) mobilized by the BBVA Group. “Over half of our sustainable business was channeled in Spain in the first quarter of the year, a new record,” the BBVA CEO said this Wednesday at the 18th Meeting of the Banking Sector organized by IESE.

BBVA has channeled 150 billion euros in sustainable business from 2018 to March 2023, half of the €300 billion target set for the 2018-2025 period. Nearly 14 billion euros was mobilized in the year's first quarter, an increase of almost 20 percent compared to the same period in 2022. “Quarter after quarter we are making good progress towards achieving our sustainable business goal for 2025,” said Javier Rodríguez Soler, BBVA’s Global Head of Sustainability, commenting on these results.

To promote sustainable growth in the country, BBVA Mexico, González Calvillo (GC), PwC Mexico and the UN Environment Program held the first edition of the ESG Summit Mexico, in which -with the participation of experts and guests from organizations such as S&P, BlackRock and the Mexican Sustainable Finance Council-, the main aspects that a company must know to include environmental, social and corporate governance criteria into its business model were addressed.

BBVA Mexico reaffirms its commitment to the environment and climate change by issuing its second green bond in the local market, the first issue under the BBVA Group's Sustainable Debt Financing Framework updated in November 2022.

The global carbon credit trading platform Carbonplace has raised 45 million dollars in a seed funding round and has been incorporated as its own entity. BBVA, one of the nine founding banks, has participated in this round and has appointed its Head of Carbon Markets at BBVA Corporate & Investment Banking, Ingo Ramming, as a representative on Carbonplace's Board of Directors.

The world's leading recruiter PageGroup. which operates globally as Michael Page, Page Personnel, Page Executive and Page Outsourcing, has signed an £80 million sustainability Club Deal facility led by BBVA. The new financing will support PageGroup in pursuing a twofold objective: to fight climate change and contribute to gender equality. BBVA has been mandated as sole sustainability coordinator in this transaction, in which HSBC also participated, with each entity providing £40 million in sustainable financing.

Garanti BBVA, the BBVA Group’s Turkish franchise,  integrates climate change and inclusive growth within its core strategies. In line with that commitment, Garanti BBVA has launched a program of events called 'Sustainable Future in Exports' to support Türkiye’s adaptation to the European Green Deal and pave the way to sustainable investment. At the first event, held on November 23, 2022 at Fişekhane Istanbul, the bank explained the European Green Deal and the Carbon Border Adjustment Mechanism (CBAM) to the sectors and institutions–especially SMEs–that will be affected by the new rules governing exports to the EU.

BBVA channeled a total of €124 billion in sustainable business between 2018 and September 2022, of which €13 billion corresponds to the third quarter of 2022, a 60% increase over the same period in 2021.

BBVA Chair Carlos Torres Vila today announced that the bank will increase its sustainable finance target by 50 percent. “Sustainability is a business opportunity,” because the amount of investment required is huge ($275 trillion through 2025), he said at the Institute for International Finance (IIF) annual meeting in Washington, DC.  In this sense, he added that the bank has been channeling sustainable financing “at a really fast pace”, which prompted the bank to surpasse in June 2022 the initial goal set for 2025. For that reason, “today I can announce that we’re now upping the ante again to €300 billion for the period 2018-2025,” he said.

BBVA placed €1.25 billion in a green bond issue of senior preferred debt today, with a seven year maturity. The issue price was set at mid-swap plus 155 basis points, below the initial target price (mid-swap plus 175-180 basis points). This is the Group’s first bond issue with a “green” seal for senior preferred debt and the largest with this label for a Spanish financial issuer.

Madrid and Mexico City hosted the 2022 EduFin summit, the annual financial summit organized by BBVA’s Center for Financial Education and Capabilities, which was held on September 29th and 30th. 25 experts from ten countries attended this international event, which has become a real benchmark in the field. Over 200 guests attended in person and over 1,600 watched via streaming. Throughout the event, participants discussed how digitization is revolutionizing financial education and propelling the inclusion of the most vulnerable.

See the video on YouTube of the first day of BBVA EduFin Summit 2022

See the video on YouTube of the second day of BBVA EduFin Summit 2022

Carlos Torres Vila to open EduFin Summit 2022, BBVA's global financial education event

BBVA to train two million people in financial education

Spot the differences between a knowledgeable financial influencer and a con artist

BBVA is part of a European high level expert group charged with providing recommendations to the European Commission to promote sustainable financing in emerging countries and bridge the gap that currently exists in financing the SDGs. BBVA is the only private bank in this group, which will present its recommendations in mid-2023.

BBVA has created a new sustainable loan that focuses on reducing water footprint, a key priority in many companies' sustainability policies. Iberdrola, one of the world leaders in sustainability, is the first company to formalize this innovative solution in the sustainable financing market, which can be structured as a bilateral or syndicated loan.

This Monday, Carlos Torres Vila opened the 39th APIE Seminar in Santander, together with Nadia Calviño, the first Vice President of the Spanish government and Minister of Economic Affairs and Digital Transformation. The BBVA Chair said that “private investment will be fundamental to the decarbonization of the planet.” In this regard, he believes authorities play a crucial role in building “confidence, with certainty regarding the regulatory framework, the rules of the game, budgetary and fiscal stability, and competitiveness.”

Grupo DEME, a marine engineering company with a global presence, signed a €20 million sustainable financing agreement with BBVA. The loan is part of an extensive financing package that will enable the Belgian group to finance further investments in its dredging and environmental activities. Based in Zwijndrecht (Belgium) with over 5,200 employees worldwide, the company is reinforcing its commitment to sustainability and the environment.

In the past 15 years, around 1.5 billion adults have been included in the financial system, where microfinance has played a key role. Giovanni di Plácido, director of Analysis and Research for BBVA Microfinance Foundation (BBVAMF), recounts the creation of loans and monetary transactions to the advent of microfinance as a formula for inclusion, and the Foundation's leading role in the transformation of this sector in its 15 years of activity.

Garanti BBVA recently renewed its syndicated loan with international markets. The agreement was signed with 30 banks from 16 countries for $594 million, and consists of two separate tranches of $283.5 million and €290.5 million, respectively, and a one year maturity.