BBVA Achieves Top ESG Rating in Spain and Global Status
Highlights
- BBVA has an EE rating from Standard Ethics Rating.
- More than €70 billion invested in sustainable business and increasing targets for sustainable finance.
- Decarbonisation targets in several sectors.
- Top rankings in European and global sustainability indices.
BBVA is the top-rated bank in Spain and second in the world according to the latest Standard Ethics Rating (SER). The rating evaluates the ESG performance of the 40 largest European banks by market capitalisation.
This rating recognises BBVA’s commitment to sustainability, a priority for the bank since 2020. The bank has two main goals: to grow new business through sustainability and to set clear decarbonisation targets.
In 2023 BBVA invested more than €70 billion in sustainable business, double the amount invested in 2021 and five times more than in 2018. The bank has revised its sustainable business targets for the 2018-2025 period twice, from €100 billion to €200 billion and then to €300 billion. As of March 2024, it has mobilised €226 billion in sustainable business.
BBVA also has intermediate decarbonisation targets for 2030 in ten sectors: energy, automotive, steel, cement, coal, aviation, maritime transport, aluminium, real estate in Spain.
Standard Ethics uses a 9-grade scale to rate sustainability, from EEE (full compliance) to F (lowest level). Companies with a "double E" rating, like BBVA, are better equipped to manage potential negative impacts and reduce frequency.
Standard Ethics is a self-regulated sustainability rating agency since 2004 and has been recognised for its work in sustainable finance and ESG research. It promotes sustainability and governance principles based on EU, OECD and UN guidelines.
The financial services company also ranked in the Dow Jones Sustainability Index: first in Europe for the fourth year and third in the world.
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Source: BBVA
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