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Sustainability strategy
Sustainability strategy
Sustainability strategy
BBVA has defined sustainability as one of its six strategic priorities, covering the following three dimensions in the geographies where it operates:
- Climate. Business opportunities related to global warming: electric transport, energy efficiency, renewable energy, etc.
- Natural Capital. Business opportunities related to nature: water, land, biodiversity, and waste and pollution.
- Inclusive growth. Business opportunities related to inclusive social and economic growth: inclusive infrastructure, financial inclusion, entrepreneurship, job creation, access to basic goods and services.
Boost Sustainability as a growth engine
BBVA has been a pioneer in identifying the impact of sustainability in the financial sector. The new priority goes a step further and seeks to promote sustainability as an engine of differential growth, taking advantage of the need to finance investments to meet a growing demand for efficient and clean energy. Specialized advice tailored to each market segment, together with the transformation of risk processes, are key to generating differential growth.
Promoting new business through sustainability
BBVA is promoting the creation of new business around sustainability with three priority areas:
1. Promoting the development of financial solutions and customized proposals for customers to capture business opportunities related to sustainability.
2. Development of differential risk management capabilities.
3. Implementation of control processes.
Sustainability Governance
Integration in the executive level across the Group
The implementation of the sustainability strategy, approved by BBVA’s Corporate Bodies, involves cross-functional integration at the executive level. For this implementation, the Group has the Global Sustainability Area, whose Head reports directly to both the Chief Executive Officer, in business matters, and to the Group Executive Chairman in matters of transformation and sustainability strategy.
Thus, the execution of the Sustainability strategy is transversal in nature in the Group, and it is the responsibility of all its areas to progressively incorporate it into their strategic agenda and work dynamics. To this end, the Global Sustainability Area has the responsibility of designing and promoting the execution of the Group’s strategic sustainability agenda (with a focus on the fight against climate change, the protection of natural capital and inclusive growth) and business development in this area.
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Carbon footprint & transition plan
Carbon footprint & transition plan
BBVA as designed a Transition Plan in order to reduce its carbon footprint. For that purpose intermediate emissions reduction targets for 2030 have been set for 11 sectors of the loan portfolio and its progress is being monitored.
Management of risks associated with climate change
Management of risks associated with climate change
The management of climate and environmental risk factors is key to implement BBVA’s strategy, which is based on managing risks appropriately, supporting the transition to a low-carbon economy, and meeting the ambition of achieving net-zero carbon emissions by 2050.
Natural capital
Natural capital
The global effort to combat climate change is insufficient if the challenge associated with natural capital is not simultaneously addressed. It is essential for companies’ decarbonization processes to also encompass their dependencies on and impacts to nature and biodiversity.The BBVA Group has identified potential business opportunities connected to natural capital, such as nature, agriculture, water, and the circular economy. With regard to risks, specialized methodologies and tools have been used to identify sectors with high exposure to risks related to natural capital, which has made it possible to determine that this is a material issue for the Group.
Heat map of impacts and dependencies
Interactive map by sector
Contribution to society
Contribution to society
When it comes to contributing to the inclusive growth of the societies in which the Group is present, BBVA established the 2025 Community Investment Goal, through which it would allocate 550 million euros to social initiatives to support inclusive growth and reach 100 million people between 2021 and 2025.
Both objectives were met, ahead of schedule, on December 31, 2024, with 594 million euros allocated to social programs and almost 106 million people reached.
In 2024, the Group allocated 182 million euros in community contributions (175 million euros in 2023) representing 1.72% of the adjusted attributable profit. Through this contribution, 85 million people have been reached during the year.
Other contribution to society
As regards contributions to foundations and non-profit entities, the overall figure in 2024 was 17.9 million euros (42.3 million euros in 2023).
Volunteer work
A total of close to 13,500 thousand BBVA employees took part in community service initiatives during 2024 (around 12 thousand in 2023), having dedicated close to 43,000 hours (82% during working hours and 18% outside of working hours). The time dedicated by employees in 2024 is equivalent to a contribution of 1 million euros (around 485 thousand euros in 2023).
Double materiality analysis
Double materiality analysis
Sustainability is a strategic pillar for the Group, generating impacts on society and the environment, while safeguarding its competitiveness and financial results.
In 2024, the double materiality analysis process has been updated to incorporate the principles of the CSRD and ESRS, as well as the implementation guide for the assessment of materiality issued by the European Financial Reporting Advisory Group (EFRAG).
BBVA has identified material impacts, risks and opportunities within several sub-topics, which in turn correspond to four general topics:
- Climative change
- Own workforce
- Consumers and end-users
- Business conduct.
Sustainability strategy
BBVA has defined sustainability as one of its six strategic priorities, covering the following three dimensions in the geographies where it operates:
- Climate. Business opportunities related to global warming: electric transport, energy efficiency, renewable energy, etc.
- Natural Capital. Business opportunities related to nature: water, land, biodiversity, and waste and pollution.
- Inclusive growth. Business opportunities related to inclusive social and economic growth: inclusive infrastructure, financial inclusion, entrepreneurship, job creation, access to basic goods and services.
Boost Sustainability as a growth engine
BBVA has been a pioneer in identifying the impact of sustainability in the financial sector. The new priority goes a step further and seeks to promote sustainability as an engine of differential growth, taking advantage of the need to finance investments to meet a growing demand for efficient and clean energy. Specialized advice tailored to each market segment, together with the transformation of risk processes, are key to generating differential growth.
Promoting new business through sustainability
BBVA is promoting the creation of new business around sustainability with three priority areas:
1. Promoting the development of financial solutions and customized proposals for customers to capture business opportunities related to sustainability.
2. Development of differential risk management capabilities.
3. Implementation of control processes.
Sustainability Governance
Integration in the executive level across the Group
The implementation of the sustainability strategy, approved by BBVA’s Corporate Bodies, involves cross-functional integration at the executive level. For this implementation, the Group has the Global Sustainability Area, whose Head reports directly to both the Chief Executive Officer, in business matters, and to the Group Executive Chairman in matters of transformation and sustainability strategy.
Thus, the execution of the Sustainability strategy is transversal in nature in the Group, and it is the responsibility of all its areas to progressively incorporate it into their strategic agenda and work dynamics. To this end, the Global Sustainability Area has the responsibility of designing and promoting the execution of the Group’s strategic sustainability agenda (with a focus on the fight against climate change, the protection of natural capital and inclusive growth) and business development in this area.
More information
Updated page 30 May 2025