BBVA’s environmental policy is in line with sustainable environmental management and the fight against climate change. The policy also includes the commitments subscribed by the Group with some of the main international environmental initiatives in this area, such as the United Nations Environment Program Finance Initiative (UNEP FI), the Equator Principles, the Principles for Responsible Investment and the Carbon Disclosure Project.
Group Eco-efficiency Plan 2008-2012
In 2010, BBVA continued to work towards each of the objectives set forth in the Global Eco-efficiency Plan 2008-2012, which include: a 2% reduction in energy use, a 7% reduction in water, a 10% reduction in paper and a 20% reduction in CO2 emissions (objectives per employee), in addition to a 20% increase of people working in buildings with the ISO 14001 certification. BBVA Paraguay has received the LEED Plata certificate from the Green Building Certification Institute and the US Green Building Council for its headquarters in Asunción. This makes it the first building in the country to earn LEED certification.
In addition, BBVA made a major drive in its Global Eco-efficiency Plan in 2010 by signing contracts with Endesa and Iberdrola. As a result, 10% of the energy used by the Bank in Spain comes from renewable resources. In addition, BBVA has started up a pilot eco-efficiency branch in Madrid, which includes the latest technology available for efficient energy use, essentially in air conditioning, heating and lighting. The annual energy savings amount to 49%.
Climate change
BBVA has continued to strengthen its leading position in financing renewable energies in the North American market. It financed two wind farms in Texas (United States) and Nova Scotia (Canada) for $180m and C$60m respectively. The Group has also been chosen by the European Investment Bank to implement an initiative for developing renewable energy and energy efficiency operations for €400m, with a credit line and a risk sharing mechanism. BBVA has also once more participated in and sponsored the Carbon Disclosure Project to promote informational transparency and responsible management by large companies in matters affecting climate change. In addition, the Group has joined Water Disclosure, whose aim is to offer high-quality information for investors and make the target public aware of the risks arising from irresponsible use of water. On occasion of the COP16 in Cancún, BBVA signed the Cancún Communiqué and the Global Investor Statement on Climate Change. These high-level initiatives stress the Group’s support for the fight against climate change.
