“Sustainability is a strategic priority for BBVA. Now, the Dow Jones Sustainability Index recognizes our leadership by giving us the highest score in the industry in its global index. This recognition confirms the success of our sustainability strategy and encourages us to continue working with the aim of accompanying our clients and society as a whole towards a more sustainable and inclusive future”, said BBVA’s Global Head of Sustainability, Javier Rodriguez Soler.
“The score IS G (environmental, social, governance) of BBVA has been updated by S&P Global on January 21, 2022, after the initial announcement of ratings made public on November 12, 2021, in accordance with S&P Global’s revaluation policies and processes”, has stated the rating agency of the DJSI, for this review.
BBVA, which had 88 points (out of a possible maximum of 100) in the global classification of the index, has achieved 89 points, after S&P Global reassessed the response provided by the bank, specifically, in the fiscal strategy section, where it obtained 100 points. BBVA had already achieved the highest score in financial inclusion; environmental and social information; human capital development; and materiality. Regarding the three major dimensions evaluated, BBVA obtains 86 points in economics and corporate governance; 94 points in the environmental; and 92 in the social.
In total, only 24 banks are included in the latest edition of DJSI World and BBVA is the most prominent Spanish bank in this index since 2020.
More than 10,000 listed companies were invited to participate in the analysis conducted by S&P Global CSA. The companies analyzed respond to an extensive questionnaire made up of almost a hundred questions on ESG matters that collects public and non-public data from the participants. Only the 10% of companies in each sector with the best score in this analysis are chosen to be part of this prestigious index.
Gold Category in the S&P Global Sustainability Yearbook 2022
In addition, BBVA has obtained the Gold distinction within the banking industry in the Sustainability Yearbook 2022 released today by S&P Global. “We congratulate BBVA for its inclusion in the 2022 Sustainability Yearbook. More than 7,000 companies have been evaluated and this distinction underlines the dedication to sustainable business practices,” said Manjit Jus, global director of ESG Research at S&P Global.
BBVA, in the sustainability indices
BBVA is part of the main international sustainability indices, including the MSCI ESG Leaders Index, FTSE4Good Index, Euronext Vigeo Index Eurozone 120 and the Ethibel Sustainability Excellence Europe and Global indices. The financial entity is also included in the Bloomberg index of gender equality.
In climate action, Last year, BBVA doubled its sustainable financing objective from 100,000 million euros to 200,000 million, which it intends to mobilize in the 2018-2025 period. The financial entity will stop financing coal in 2030 in developed countries and in 2040 in the rest. What’s more, BBVA has set targets to decarbonise its portfolio in four emission-intensive sectors by 2030, all with the aim of being carbon neutral by 2050.
In inclusive growth, BBVA has recently announced its Commitment to the Community. In the 2021-2025 period, it will allocate 550 million euros to social initiatives in the most ambitious social plan launched to date by the entity.
The selection and permanence in these indices depends on the demonstration of constant progress in sustainability issues and influences their eligibility in investment portfolios, which attach increasing importance to non-financial factors of companies.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential financial intelligence to individuals, companies and governments for optimal and confident decision making.
For more information: www.spdji.com
