Criteria and Standards

The BBVA in 2015 report has been prepared in accordance with the latest reporting trends. This involves following various internationally recognized standards, such as the Conceptual Framework of the IIRC (hereinafter the <IR> Framework), the G4 Sustainability Reporting Guidelines under the Global Reporting Initiative, at a comprehensive level, and the AA1000 standard.

The <IR> Framework has been developed by the International Integrated Reporting Council (IIRC), the global coalition of regulators, investors, companies, regulators of standards, issuers of regulations, accounting professionals and non-governmental organizations (NGOs). This <IR> Framework sets out the principles and contents that govern an integrated report.

In accordance with the <IR> Framework, the BBVA in 2015 report contains relevant and concise financial and non-financial information about the strategy, corporate governance and performance of BBVA Group in the year ending 31 December 2015. This effort focuses not only on financial results but also on the progress, achievements and impacts achieved in our relationships with stakeholders.

In addition, BBVA's quantitative key performance indicators (KPIs) are presented following the  <IR> Framework capital structure, classified into financial capital, manufactured capital, intellectual capital, human capital, social and relationship capital, and natural capital. Along these lines, BBVA has also followed the model for applying the concept of capitals of the <IR> Banking Network, a group of which BBVA has been a member since 2011, as a pioneer in Spain.

The report includes a materiality analysis that can identify the relevant issues for stakeholders that are subject to reporting. The focus of BBVA Group's actions in 2015 is digital transformation as a strategy, which has a direct impact on the activity of the businesses and the relationship with them. Its drafting follows transparent, clear and responsible communication (TCR) criteria.

This report has also been drafted in accordance with the Global Reporting Initiative Sustainability Reporting Guidelines (GRI G4), at a comprehensive level, including information about basic, general and specific content and the financial supplement for which information has been available for publication. It also follows the AA1000 APS standard.

In addition, this information reflects the 2015 Progress Report on the United Nations Global Compact and includes actions related to the United Nations Millennium Development Goals.

Principles to guarantee information quality

The principles for preparing the non-financial information of the BBVA in 2015 report are in line with the GRI G4 guidelines in terms of definition of content and information quality:

• Stakeholder engagement: BBVA specifies its stakeholders and explains how it has responded to their reasonable expectations and interests.
• Sustainability context: The non-financial information in the BBVA in 2015 report presents the organization's performance in the broadest context of sustainability, considering the information available.
• Materiality: The non-financial information in the BBVA in 2015 report covers aspects that show the organization's significant economic, environmental and social impact, or that considerably influence stakeholder evaluations and decisions.
• Exhaustiveness: The non-financial information in the BBVA in 2015 report deals with material aspects and their coverage, reflecting their significant economic, environmental and social impacts. The stakeholders can also analyze the organization's performance during the period under analysis.
• Equilibrium: The non-financial information in the BBVA in 2015 report reflects both the positive and negative aspects of its performance in order to provide an informed evaluation of its overall performance.
• Comparability: BBVA presents the information consistently so that stakeholders can analyze the changes in BBVA's performance.
• Accuracy: The information is accurate and detailed enough for stakeholders to analyze the organization's performance.
• Punctuality: BBVA presents its reports in accordance with a regular calendar, so that stakeholders can access the information when required and make informed decisions.
• Clarity: The information is presented in such a way that the stakeholders at which it is targeted can easily access and understand it.
• Reliability: The information has been compiled, registered, analyzed and presented so that it can be evaluated by an external auditor. The scope and methodology of the external review conducted can be viewed in the “Independent Review Report of the non-financial information in the BBVA Group’s BBVA in 2015 report”. An action plan is then drawn up to ensure that the recommendations arising from review processes are implemented.