This chapter provides a detailed overview of our sustainability strategy, as well as the key alliances and partnerships that enable us to identify business opportunities and influence key sustainability issues such as: sustainable mobilization, decarbonization, inclusive growth, entrepreneurship, among others.
Sustainability
Strategy
Grupo BBVA’s 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 transportation, energy efficiency, renewable energy, etc.
Natural Capital:
Business opportunities related to nature: water, land, biodiversity, 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.
84% of the loan portfolio corresponds to clients who actively manage their transition.
The execution of this strategy focuses on two main objectives:
Promote new business through sustainability.
Sustainable Business Channeling
2025 Objective
300 billion euros
From 2018 to December 2024
304 billion euros
Achieve Net Zero Emissions by 2050
Setting and management of decarbonization targets by 2030
Sectors
Oil and gas
Electricity generation
Automobiles
Steel
Cement
Coal
Aviation
Maritime transport
Commercial real estate
Residential real estate
Aluminum
Goal 1: Foster new business through sustainability.
BBVA drives the creation of new business around sustainability with three priority areas:
01.
Boosting the development of financial solutions and personalized proposals for clients to capture business opportunities related to sustainability.
To drive and identify new opportunities, BBVA maintains a dialogue with clients based on:
Sectoral knowledge of the implementation and execution of sustainability strategies.
Support in analyzing the sustainability of the entire value chain of clients (e.g., the carbon footprint of their suppliers), with a view to developing strategies that reduce the environmental impact of value chains and increase their resilience.
Offering sustainable products or those promoting sustainability (bonds, loans, transactional banking activity, etc.) that meet the financial needs of clients and support their transition.
Consultation tools have been developed based on advanced data analytics, allowing for personalized dialogue with clients. One example is the carbon footprint calculator, which enables the estimation of a company’s carbon footprint using limited data.
The digital solutions support clients throughout the entire process:
Promotion of sustainable mobility: financing electric and plug-in hybrid vehicles through an agreement with the national association of car dealerships and dealers.
02.
Development of differential risk management capabilities:
BBVA focuses on increasing business volume by financing the emissions reduction efforts of its clients, leveraging its competitive advantage in sustainability, supported by its unique expertise in climate risk management. In 2024, 91% of the loan portfolio in high-emission sectors had a Transition Risk Indicator (TRi).
Goal 2: Achieve Net Zero Emissions by 2050
BBVA has defined a decarbonization strategy to align its portfolio and developed a management model to track decarbonization targets. To capture the potential business growth in this area, BBVA relies on:
Sectoral alignment plans to define a commercial strategy and guide selective growth based on the analysis of risks and business opportunities.
Evaluation of clients’ transition plans based on the TRi.
Integration into the transaction approval process.
Regarding the strategy for managing direct environmental impacts, it is structured around three main pillars:
Sustainability Governance
Sustainability is an integral part of Grupo BBVA’s relationship with its clients and the internal processes carried out daily. Since 2021, BBVA México has adopted the sustainability strategy from the highest executive level of Grupo BBVA, with direct reporting to the head of the Global Sustainability Area (GSA), the CEO, and the Chairman of the Board on matters related to strategy and transformation.
The Board is supported by its specialized Committees to implement the sustainability strategy across the Group.
The Local Sustainability Office is responsible for managing and controlling the sustainable mobilization KPI at BBVA México, ensuring the integrity and quality of the information for the fulfillment of the institution’s sustainable business channeling objective.
Commitments
To support the transition of the financial system towards sustainability, BBVA has played an active role for over two decades in various global initiatives. Below are the main initiatives and forums related to sustainability in which Grupo BBVA and/or BBVA México participate:
Linked to general sustainability frameworks
United Nations Global Compact, since 2002
BBVA has been aligning its operations and strategies with the ten principles of the Global Compact, which cover human rights, labor standards, environmental protection, and efforts against corruption. BBVA Mexico has been a signatory since 2004.
Equator Principles, since 2004
BBVA is a signatory of the Equator Principles (EP), which establish standards for managing environmental and social risks in project financing.
United Nations Principles for Responsible
Investment (PRI), 2008
BBVA formalized its commitment to socially responsible investment by joining the PRI. BBVA Mexico has been a signatory since 2019.
Women Empowerment Principles (WEPs), 2010
BBVA joined the WEPs. Since then, BBVA has launched various initiatives to promote gender equality and the empowerment of women in the workplace, market, and community.
Principles for Responsible Banking, 2019
BBVA was one of the 28 founding banks of the Principles for Responsible Banking, promoted by the United Nations Environment Programme Finance Initiative (UNEP FI). BBVA Mexico has also been a signatory since 2019.
Collective Commitment on Financial Health and Inclusion, 2021
BBVA was one of the founding banks of this initiative, which aims to promote universal financial inclusion and foster a banking sector that supports the financial health of all clients.
Strategic Alliances
BBVA México has established partnerships with international organizations operating in the country, local organizations, universities, and sustainability experts, among other key stakeholders. These collaborations aim to promote sustainability in various areas, such as climate change, sustainable mobility, sustainable finance, and financial inclusion, among others.
Associations
We are members of the following associations:
American Chamber of Commerce of Mexico
Asociación de Bancos de México
Asociación Interactiva en Publicidad
Asociación Mexicana de Instituciones Bursátiles
Asociación Mexicana de Instituciones de Seguros
Asociación Mexicana Factoraje Financiero y Actividades Similares
Cámara Española de Comercio
Cámara Japonesa de Comercio e Industria de México
Capítulo Mexicano de la Cámara Internacional de Comercio
Confederación Patronal de la República Mexicana
Consejo de la Comunicación
Consejo Nacional Agropecuario
Instituto Mexicano de Ejecutivos de Finanzas
American Chamber of Commerce of Mexico
Asociación de Bancos de México
Asociación Interactiva en Publicidad
Asociación Mexicana de Instituciones Bursátiles
Asociación Mexicana de Instituciones de Seguros
Asociación Mexicana Factoraje Financiero y Actividades Similares
Cámara Española de Comercio
Cámara Japonesa de Comercio e Industria de México
Capítulo Mexicano de la Cámara Internacional de Comercio
Confederación Patronal de la República Mexicana
Consejo de la Comunicación
Consejo Nacional Agropecuario
Instituto Mexicano de Ejecutivos de Finanzas
Recognition
In 2024, our initiatives and achievements positioned us at the top of various rankings and earned us recognition from several institutions in Mexico, the Americas, and Europe.
Merco Corporate Reputation Rankings – Mexico
Merco Companies
We were recognized as the financial institution with the best
Merco ESG
BBVA México was recognized as the financial institution with the highest Environmental, Social, and Governance (ESG) responsibility in Mexico. We ranked first in the sector and second overall among 100 companies evaluated.
Merco Talent
For the second consecutive year, we were recognized as the best financial institution in attracting and retaining talent, and ranked second overall among a total of 100 companies evaluated.
BBVA, Best Bank in Latin America
Euromoney
BBVA México was recognized as the Best Bank, Best Investment Bank, and Best Bank for Corporate Clients.
Stakeholders
We have identified our stakeholders in accordance with the AA1000 Stakeholder Engagement Standard, including all individuals or groups who interact in any way with BBVA México.
