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BBVA’s commitment to a greener and more inclusive world

Javier Rodríguez Soler, Global Head of Sustainability at BBVA: “One of BBVA’s priorities is to help customers in the transition to a more sustainable future”

BBVA’s drive for sustainable financing began in 2007 when it participated in the first issue of a green bond whose issuer was the European Investment Bank (hereinafter, EIB); a year later, the employee pension plan manager in Spain was the first in the market to sign the Principles for Responsible Investment.

In 2018, BBVA presented its Pledge 2025 to contribute to the achievement of the SDGs and the challenges arising from the Paris Climate Agreement. Since then, the Group has made progress in developing this priority, integrating sustainability across the board in management, internal processes and in their customer and other stakeholder relations.

On December 4, 2018, the Katowice Commitment was signed. BBVA joined ING, BNP Paribas, Société Générale, and Standard Chartered in a joint commitment to adjust their loan portfolios to the objectives set in the Paris Agreement against climate change. In an open letter addressed to world leaders and heads of state by those gathered at the 24th United Nations Climate Summit in Katowice (Poland), these institutions pledged to finance and design the financial services necessary to support clients in the transition to a low-carbon economy.

On September 22, 2019, together with 206 other banks, BBVA signed the Principles of Responsible Banking, a framework of 6 principles to help any bank align its strategy with the company’s objectives, with more than $53 trillion in assets and that represents more than a third of the global banking system. The Principles of Responsible Banking are promoted by the United Nations Environment Program Finance Initiative (UNEP FI) with the aim of facing the challenges of sustainability and the climate emergency that today’s society faces.

Also at said climate summit, held in New York at that time, BBVA joined the Collective Commitment to Climate Action. This initiative promoted by UNEP FI represents an important step towards working as a truly global coalition. According to the experts’ opinion back then, it was the most ambitious milestone in the financial sector with regard to climate. It was signed by 36 banks.

On April 21, 2021, BBVA became one of the 43 founding members of the Net-Zero Banking Alliance (NZBA). 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 of the Paris Agreement. In addition, the direct impact of their activities must also be neutral – a goal that BBVA has already achieved in 2020.

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