BBVA continues to take steps forward in its commitment to the ecological transition. The entity has achieved its objective of offering a sustainable alternative for all its products in Spain, both those aimed at individuals and those aimed at companies. With this range of solutions, it aims to help its clients make better financial decisions while responding to a growing demand from society, increasingly aware of caring for the environment.
BBVA launched its first sustainable products for individuals on the market in 2018. They were the investment funds BBVA Futuro Sostenible and BBVA Bolsa Desarrollo Sostenible, two products that integrate socially responsible investment criteria into their philosophy.
In 2019, the entity announced the launch of two more solutions: the Green Car Loan, with which any individual can finance the purchase of a low-emission hybrid or electric vehicle; and the first individual pension plan managed with socially responsible investment criteria, called BBVA Plan Sostenible Moderado ISR.
But the thing does not end here. Last year, the bank also announced the launch of the Efficient House Mortgage, an instrument aimed at individuals who want to acquire a home with the highest energy efficiency standards. Along the same lines, a month ago it completed the range with the Loan Energy Efficiency, whose main objective is to help clients finance works and improvements in their homes that reduce their environmental impact and increase energy savings.
–BBVA’s commitment to sustainability has led it to take care of even the smallest detail. A little over a year ago, it became the first bank in our country to create recycled plastic cards from the packaging, printing, automotive or construction industries.
“At BBVA, sustainability is one of our strategic pillars and is an essential part of our strategy and our day-to-day life. Not only do we want to offer customers sustainable products or services, but we also want to accompany them in their ecological transition, giving them the tools, knowledge and solutions they need to face the next few years “, underlined Paloma Vázquez, Head of Retail Sustainability at BBVA Spain .
Commitment 2025
In 2018, BBVA announced its Commitment 2025: a strategy to fight against climate change whose challenge was to mobilize 100,000 million euros in sustainable financing in seven years. At the end of December 2020, with three of those seven years already completed, the financial institution had already managed to exceed half of the target. 50,000 million euros that come from operations in green financing (60% of the total), financial inclusion and entrepreneurship (13%), social infrastructures and ‘agrobusiness’ (12%) and other types of mobilization (15%).
The bank’s challenge remains the same: improve the financial health of its clients while moving towards a more environmentally friendly activity.
Business solutions
There are also several solutions that BBVA has launched specifically aimed at SMEs and large companies. For the former, the following stand out among them:
1. A developer loan line for the construction of energy-efficient homes.
2. The Green Car Loan has been extended so that SMEs and the self-employed could also benefit from it in the development of their professional activity.
3. A loan for the conversion of agricultural and livestock farms into ecological ones, aimed at entrepreneurs in the sector.
4. A comprehensive financial advisory service for environmental projects, thanks to the collaboration agreement signed with Anese and Ateinsa.
For large global companies it also facilitates all kinds of structured financing solutions, such as the issuance of Bonds, Syndicate Loans or Project Finance.
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