BBVA, a prominent financial institution, demonstrated its commitment to sustainability by channeling approximately €19 billion into sustainable business ventures between April and June 2023. This impressive figure reflects a remarkable 30% increase compared to the same period in the previous year, setting a noteworthy new quarterly record. Over the broader timeframe of 2018 to June 2023, BBVA has successfully directed a total of €169 billion towards sustainable initiatives, surpassing more than half of the targeted €300 billion for the strategic period spanning from 2018 to 2025.
Javier Rodríguez Soler, the Global Head of Sustainability at BBVA, underscored the institution’s ongoing growth and achievement of successive quarterly milestones. He emphasized the integration of sustainable criteria across all business segments and industries that BBVA engages with. Notably, a substantial 77% of the sustainable business endeavors undertaken from 2018 to June 2023 were dedicated to advancing climate action. The remaining 23% were strategically allocated to foster inclusive growth, reinforcing BBVA’s pivotal role in supporting clients as they navigate the transition towards a more sustainable global landscape.
Soler further expounded on the positive societal impact generated by BBVA’s core business operations. These encompass the promotion and funding of projects that drive the energy transition, as well as initiatives fostering inclusive growth. Notably, BBVA’s commitment extends to critical areas such as entrepreneurship, inclusive infrastructure, and the vital cause of financial inclusion.
BBVA’s sustained efforts in steering its business activities towards sustainable avenues not only underscore its dedication to responsible practices but also exemplify its instrumental role in shaping a more sustainable and inclusive world.