BBVA Named Europe’s Most Sustainable Bank for Fourth Consecutive Year in Dow Jones Sustainability Index

BBVA Named Europe’s Most Sustainable Bank for Fourth Consecutive Year in Dow Jones Sustainability Index

(IN BRIEF) For the fourth year in a row, BBVA has been recognized as Europe’s most sustainable bank in the Dow Jones Sustainability Index (DJSI), a leading global sustainability ranking. The bank received a total score of 84 out of 100, excelling in various dimensions, including economic and corporate governance, environmental practices, and social responsibility. BBVA also achieved a perfect score in areas such as transparency, tax strategy, human rights, and customer relations. This recognition reflects BBVA’s strong commitment to sustainability, including its goal to mobilize €300 billion for sustainable business between 2018 and 2025 and its efforts to combat climate change and promote inclusive growth. The bank’s dedication to sustainability is a central part of its strategic priorities.

(PRESS RELEASE) BILBAO, 11-Dec-2023 — /EuropaWire/ — For the fourth consecutive year, BBVA scored best in the banking category in the Europe region and second globally -score that was shared with other banks- in the latest Dow Jones Sustainability Index (DJSI)¹, the world’s leading sustainability index. The annual breakdown of the DJSI was released on December 8, 2023. A total of 27 banks from around the world won a place in this year’s DJSI.

BBVA earned a total score of 84 points out of 100. The bank achieved 84 points in the economic and corporate governance dimension, 70 points in the environmental dimension, and 89 points in the social dimension. In addition, the bank achieved the highest score (100 points) in several assessed areas: transparency and reporting; tax strategy; human rights; and customer relations.

“To be recognized as the most sustainable bank in Europe for four years in a row by the leading global sustainability index is a milestone for us. At BBVA, our goal is to help our clients achieve the transition to a more sustainable world and to encourage inclusive growth in the host societies where we operate. On this journey toward a green and just transition, we have a key role to play as intermediaries. We are not the central players, but our role is still decisive in supporting the entire economy in its decarbonization,” said Javier Rodríguez Soler, Global Head of Sustainability and CIB at BBVA.

This year, more than 13,000 companies were invited to take part in the S&P Global Corporate Sustainability Assessment (CSA). And more than 3,000 companies have responded to a questionnaire made up of more than a hundred questions on environmental, social and governance (ESG) matters.

Only the top 10% of companies in each sector in this analysis were selected to join the index. Assessment by S&P, the rating agency, determines companies’ inclusion in the Dow Jones Sustainability Index.

BBVA and its commitment to sustainability

BBVA has placed sustainability at the core of its business. Sustainability is one of its six strategic priorities to address three major challenges: fighting climate change, preserving natural capital and driving inclusive growth.

In 2022, BBVA raised its target for mobilizing sustainable business in the period 2018-2025 to €300 billion, three times its initial target.

In climate action, BBVA continues to take steps toward carbon neutrality by 2050, not only in its own emissions but also in those of its clients. BBVA will stop financing coal-driven companies by 2030 in developed countries and by 2040 globally, as foreseen in its Environmental & Social Framework. In addition, BBVA has set intermediate targets to decarbonize its portfolio in carbon-intensive industries (oil and gas, power generation, auto, steel, and cement) by 2030.

BBVA Peru has been included in the indice DJSI MILA Pacific Alliance. It is the only bank in Peru to feature in that index.

BBVA in the sustainability indexes

BBVA is included in the main international sustainability indexes, including the MSCI ESG Leaders Index and FTSE4Good Index. The bank is also part of the Bloomberg Gender Equality Index.

Selection to and continued membership of these indices depends on proving consistent progress and influences eligibility in investment portfolios, which attach increasing importance to companies’ non-financial factors.

S&P Dow Jones Indices

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI) that provides essential financial intelligence to individuals, businesses and governments for optimal and confident decision making. For further information: www.spdji.com.

¹The score awarded to BBVA is updated as of October 27, 2023. DJSI published the composition of the DJSI index on December 8th, 2023.

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SOURCE: BBVA