Environmental commitment
The BBVA Group prioritizes sustainable development. As a financial institution, the Group’s activities have a significant impact on the environment: be it through its consumption of natural resources, management of its properties, use of paper, travel, etc. (direct impacts), or through the consequences for the environment of the products and services it provides, particularly those related to financing, asset management and management of its chain of suppliers (indirect impacts).
Aims of the environmental policy
- The objectives of the BBVA Group’s environmental policy are as follows:
- Comply with prevailing environmental legislation where the BBVA Group operates
- Continually improve the identification and management of environmental risks in the Group’s financial and investment operations
- Integrate the environmental variables into the development of financial products and services
- Eco-efficiency in the use of natural resources, setting and fulfilling objectives for improvement as established in the Global Eco-efficiency Plan
- Manage direct impacts through an environmental management system based on ISO 14001 and other recognized environmental certifications
- Have a positive influence on the environmental behavior of stakeholders through communication and raising awareness of the importance of the environment as an additional input in business and human management practice
- Inform, raise awareness of, and train employees in environmental issues
- Provide support for sponsorship, voluntary work and environmental research
- Provide support for the main initiatives aimed at fighting and preventing climate change
The main international environmental commitments that the BBVA Group assumes are:
- United Nations Global Compact (since 2002): www.globalcompact.org
- UNEP- FI (since 1998): www.unepfi.org
- Equator Principles (since 2004): www.equator-principles.com
- Carbon Disclosure Project (since 2004): www.cdproject.net
- Principles for Responsible Investment (since 2008): www.unpri.org
Environmental policy scope, governance and review
This environmental policy has worldwide scope and affects all the activities undertaken by the Group, i.e. the banks and subsidiaries in which BBVA has effective control. The Eco-efficiency and Responsible Procurement Committee is responsible for coordinating the Environmental Policy and ensuring compliance with it through an environmental management system. The members of the BBVA Group’s Management Committee oversee correct compliance with this Policy. To this end, its members make an effort to develop and oversee the implementation of this Policy in the Group. This Policy will be reviewed and updated at least every two years.
Main environmental actions in 2012
The main environmental actions that the BBVA Group carried out in 2012 are as follows:
- Work within the framework of the 2008-2012 Global Eco-Efficiency Plan, aimed at minimizing the direct environmental impacts of the BBVA Group, and which has been allocated a budget of €19 million. It will result in significant annual savings through the efficient use of natural resources. The Plan’s goals per employee are as follows:
- A 20% reduction in CO2 emissions
- A 10% reduction in paper consumption
- A 7% reduction in water consumption
- A 2% reduction in energy consumption
- A 20% increase in the number of employees working in ISO 14001 certified buildings (26,000 employees)
- LEED Gold certification for the Group’s new headquarters in Madrid, Mexico and Paraguay (15,500 employees)
- Work has been carried out in 2012 in order to provide continuity to the 2008-2012 Global Eco-Efficiency Plan, laying the foundations for a new 2013-2015 Plan.
- Improved environmental risk management systems in project finance (Equator Principles) and in determining borrower credit profiles (Ecorating).
- Leadership in financing of renewable energy projects internationally.
- Support for major international initiatives to fight against climate change. In 2012, the BBVA Group joined the CDP Carbon Action initiative. In addition, the Group is a signatory to the Investor CDP and CDP Water Disclosure programs.
- Development of ambitious environmental sponsorship programs, particularly through the BBVA Foundation. Worth noting are the BBVA Foundation Frontiers of Knowledge awards in the Ecology, Conservation Biology and Climate Change categories, each provided with €400,000.
- Social and environmental risk training for the Group’s risk analysts.
- Environmental awareness-raising activities with the Group’s employees.
As of December 31, 2012, there are no items in the BBVA Group’s consolidated Financial Statements that warranted inclusion in the separate environmental information document set out in the Ministry of Economy Order dated October 8, 2001.