This chapter focuses on sustainable mobilization across Retail Banking, Corporate & Government Banking, and Corporate & Investment Banking, guided by internal standards and international benchmarks.
Sustainable
Finance
Grupo BBVA is committed to driving the development of sustainable products or those that promote sustainability, aiming to capitalize on the growth of this segment.
We take a tailored approach for each customer segment—wholesale (corporate and institutional), business, and retail clients—offering solutions that meet their specific needs. Product and service development is supported by ongoing engagement and open dialogue with our clients.
In 2018, Grupo BBVA set an initial goal to channel €100 billion in sustainable business by 2025. In 2021 and 2022, the Group significantly raised 2025 Goal, tripling its original target to €300 billion for the 2018–2025 period. This goal spans wholesale, business, and retail banking across Spain, Mexico, Turkey, Argentina, Colombia, Peru, and Uruguay. For wholesale clients, the scope extends further to include the United States as well as Banco Bilbao Vizcaya Argentaria, S.A. branches in Belgium, France, Italy, Germany, Portugal, and the United Kingdom.
The goal reflects the cumulative mobilization of financial flows related to activities, clients, or products considered sustainable or contributing to sustainability, based on the criteria defined in the section “Criteria for Determining Sustainable Business Channeling.”
Between 2018 and 2024, Grupo BBVA channeled a total of €304 billion in sustainable business, reaching its €300 billion target one year ahead of schedule.
As part of this global achievement, BBVA México mobilized over 325 billion pesos toward sustainable activities or clients by the end of 2024—a 58% increase compared to 2023.
Retail Banking
In Mexico, we have identified a significant opportunity to promote the sustainability of individuals, entrepreneurs, SMEs, and microbusinesses. We offer financing solutions such as online quick loans (One Click Loans) for sustainable products like hybrid and electric cars, solar panels, home mortgage and energy efficiency measures, credit cards, personal loans, loans for retirees, social and sustainable mortgages, insurance (health and home), SME loans for entrepreneurs, microbusinesses, sole proprietors (PFAE), Bancomext women, and Sustainable B-Corps.
In 2024, BBVA México granted over 6.2 billion pesos in credit for the acquisition of hybrid and electric vehicles, with an estimated 17 thousand transactions made possible by strategic commercial agreements between the automotive banking sector and leading international car manufacturers, aiming to expand the offering in the Mexican market.
In 2024, BBVA México contributed to inclusive growth through financial inclusion by opening 2,181,674 accounts for previously unbanked customers, supporting the entrepreneurship of inclusive microbusinesses and SMEs with over 3 billion pesos, and financing self-employed individuals with more than 5 billion pesos.
Sustainable Mobilization, BBVA México 2024 (million pesos)
Note: These are products whose destination is counted in the sustainable mobilization performance indicator, as long as they meet the BBVA Standard for Financing Sustainable Activities.
Investment Products (BBVA Asset Management México)
Regarding investment products, BBVA Asset Management México (hereinafter BBVA AM México) manages client assets across the various geographies in which it operates worldwide. BBVA AM México has its own Sustainability Plan aligned with BBVA México’s overall strategy.
The Sustainability Strategy and the construction of sustainable product portfolios at BBVA AM are supported by four key pillars:
Corporate and Government Banking
In 2024, over 120 billion pesos were mobilized through Corporate and Government Banking to finance priority sectors such as real estate, manufacturing, transportation and logistics, agriculture, leisure, housing, among others, successfully supporting more than 1,400 clients. This achievement is the result of sector-specific training and specialization within our commercial network, as well as the promotion of key initiatives such as the sustainable transition of the agricultural sector and the financing of self-funding, bankable, and sustainable projects that foster shared prosperity in collaboration with state and federal governments.
Sustainable Mobilization, Corporate and Government Banking, BBVA México 2024 (million pesos)
Corporate & Investment Banking
In 2024, BBVA México mobilized 161,886 million pesos through its Corporate & Investment Banking division, 36% of which corresponds to its role as underwriter in green and social bond issuances, while the remainder went to the financing of sustainable projects.
$161,886 million pesos mobilized by BBVA México in 2024 through Corporate and Investment Banking; 36% corresponds to its role as an underwriter in the placement of green and social bonds, and 64% to the financing of sustainable projects.
Sustainable Mobilization, Green and Social Financing 2024 (million pesos)
Scope: BBVA México
Green bonds
|
Client |
Issuance Amount |
|---|---|
|
Arca Continental |
2,343 |
|
América Móvil |
600 |
|
Banco Nacional de Obras y Servicios Públicos |
1,037 |
|
Banco Nacional de Comercio Exterior |
1,509 |
|
Cemex |
1,741 |
|
Comisión Federal de Electricidad |
4,522 |
|
Fibra Uno |
1,281 |
|
Grupo Aeroportuario del Pacífico |
950 |
|
Grupo Murano |
2,945 |
|
Gobierno de México |
929 |
|
Secretaría de Hacienda y Crédito Público |
13,600 |
|
Total |
31,460 |
Social bonds
|
Client |
Issuance Amount |
|---|---|
|
Arca Continental |
123.3 |
|
América Móvil |
600 |
|
Banco Nacional de Obras y Servicios Públicos |
1,037 |
|
Banco Nacional de Comercio Exterior |
1,509 |
|
Cemex |
91.6 |
|
Comisión Federal de Electricidad |
1,249 |
|
Grupo Aeroportuario del Pacífico |
50 |
|
Gobierno de México |
929 |
|
Nacional Financiera |
8,098 |
|
Secretaría de Hacienda y Crédito Público |
13,600 |
|
Total |
27,289 |
Criteria for Determining Sustainable Business Channeling
Aligned with its goal of driving business growth through sustainability, BBVA develops products that are either sustainable or promote sustainability, aiming to capitalize on the current expansion of this market. Grupo BBVA takes a tailored approach for each customer segment, including wholesale (corporate and institutional), business, and retail clients, as well as across various product types, whether banking or asset management. To achieve this, Grupo BBVA leverages its proprietary tools and market standards to identify and designate products and services designed to foster sustainability among its clients.
The following standards are considered for determining the channeling:
Proprietary Standards:
Internal standards inspired by the European taxonomy (as they consider the element of “substantial contribution” to the environmental objectives defined by this taxonomy) and best market practices, which may also allow a degree of flexibility when applied in non-European geographic areas, to reflect their different national contexts and avoid excluding emerging markets. In countries where local taxonomies exist, these could be applied.
CIB Sustainable Products Framework: applicable to certain products within BBVA’s CIB activity, such as transactional banking products or some structured products from the Global Markets division. It is based on the SDGs, market practices, and internal standards, and includes the opinion of an independent third party.
- Market Standards for Fund-Based Products and Activities
Primarily the Green Bond Principles and Social Bond Principles from the International Capital Markets Association, as well as the Green Loan Principles and Social Loan Principles from the Loan Market Association. Additionally, other market standards are considered, such as the SDGs.
- Market Standards for Products and Activities Linked to Sustainability (generally linked to a set of indicators or criteria related to ESG aspects, aiming to encourage positive sustainability behaviors)
Primarily, the Sustainability Linked Bond Principles from the International Capital Markets Association and the Sustainability Linked Loan Principles from the Loan Market Association.
Additionally, Grupo BBVA considers the sustainable activities of its clients that align with internal standards and/or applicable regulations, based on their public information (with support in certain cases from external data providers to gather this information) and using company-level certifications of recognized prestige in the market.
Financing under the Equator Principles
Energy, transportation, and social infrastructure projects that drive economic development and job creation can also generate environmental and social impacts. Therefore, BBVA evaluates the financing of these projects using the Equator Principles as a reference framework to minimize and, where possible, avoid negative effects, thereby maximizing their economic, social, and environmental value.
Since 2004, Grupo BBVA has adhered to the Equator Principles (EP), a framework that establishes standards for managing environmental and social risks in project financing. These principles are based on the International Finance Corporation’s Policy and Performance Standards on Social and Environmental Sustainability, as well as the World Bank’s General Environmental, Health, and Safety Guidelines.
Financing under the Equator Principles – 2024
(Mexico Figures)
|
Category |
Sector of |
Total amount |
Amount financed |
|---|---|---|---|
|
B |
Infrastructure |
MXN 4,314,219,823 |
MXN 1,438,073,274 |
|
B |
Infrastructure |
USD 2,500,000,000 |
USD 183,823,529 |