BBVA: Best Sustainable Bank Spain 2020
In its mission statement, Spanish multinational financial services company BBVA pledges to help customers improve their financial health and transition to a more sustainable future. CEO Carlos Torres Vila believes that climate change could be the “greatest business disruption humankind has ever faced”. As one of the world’s largest financial institutions, BBVA (Banco Bilbao Vizcaya Argentaria) is squaring up for the fight against climate change, and its Pledge 2025 outlines the ambitious benchmarks. Its carbon footprint will shrink thanks to the use of 70 percent renewable energy sources within the next five years. It aims to reach 100 percent renewable energy by 2030 — a feat already accomplished throughout its Spanish network. BBVA is mobilising €100bn to support green finance, sustainable infrastructures, social entrepreneurship and financial inclusion over an eight-year period — and has already reached 30 percent of that target. BBVA has adopted all 17 of the United Nations’ Sustainable Development Goals as a roadmap of opportunity and obligation. For each goal, BBVA contributes with sponsorship of social and environmental programmes, campaigns to raise awareness and partnerships that encourage innovation. BBVA offers green loans for energy-efficient homes and eco-friendly vehicles, issues sustainable bonds for social or environmental projects, and extends revolving credit lines with preferential rates to corporate clients with outstanding ESG scores. BBVA develops investment products that align with the principles for socially responsible investing, including two portfolio funds, a one-year sustainable finance contract and a long-term individual pension plan. The CFI.co judging panel is pleased to present BBVA with the 2020 award for Best Sustainable Bank (Spain).
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