Responsible banking

BBVA´s Purpose is to bring the age of opportunity to everyone. This purpose is based on strong values: customer comes first, we think big and we are one team. As part of BBVA´s strategy, we want to improve our clients' financial health and help them in the transition to a sustainable future inspired by the United Nations Sustainable Development Goals. Specifically, BBVA is committed to support the transition towards a low carbon emissions economy and an inclusive economic development, both through its business and the various social programs fostered by the Group.

The key strategic initiatives of responsible banking are:

  • Creating lasting and more balanced relations with the customers via transparent, clear and responsible communications, and supporting financial literacy in all of the solutions that we offer.
  • A fully integrated approach to doing business via responsible business policies, a reputational risk model and people-centric culture throughout the organization.
  • Supporting responsible and sustainable growth via financial inclusion, sustainable financing, support for SMEs and responsible investment.
  • Investment in the community, prioritizing financial literacy initiatives, entrepreneurship, learning, and other locally significant social causes.

Measures taken by BBVA in response to COVID-19

In addition to the safety measures, business continuity and financial support to the commercial and retail sector in light of the situation caused by COVID-19 mentioned at the beginning of this report, BBVA has stepped up efforts to help society in its fight against the pandemic, with a donation of €35m to purchase medical supplies, support vulnerable groups and promote research.

  • BBVA has donated €28.1m to the first action item, mainly for the purchase of respirators and medical and personal protection equipment for healthcare workers.
  • It has also focused efforts on reducing the negative impacts of the pandemic on the most vulnerable sections of society, supporting social organizations with more than €4.2m.
  • Finally, as part of these efforts, there is a special call for grants totalling €2.7m, aimed at supporting 20 scientific research projects on COVID-19, in fields as diverse as biomedicine, statistics, big data and artificial intelligence, ecology and veterinary science, economics and social sciences and humanities.

In addition to this institutional donation, BBVA launched an initiative among its employees in most of the countries in which it operates, inviting them to join in with the charitable work against the pandemic, meaning that employees who wish to do so can help this cause by making donations. In these campaigns, BBVA has played its part by contributing an initial amount or by matching the contribution of its employees, so for every euro contributed by an employee, the bank has contributed another euro. The funds raised stand at €1.8m and they are being used to help the fight against the virus in the three action items mentioned above.

Finally, BBVA has encouraged its customers to get involved, launching several campaigns, mainly in Spain and Mexico, through which €9.3m has been raised.

As for suppliers, BBVA has supported the closest ones with protection schemes for employees and companies, and with the early payment of invoices, without waiting until the agreed deadline.

In the second half of 2020, and faced with the challenge of reconstruction and the adoption of the new normal, a Social Plan incorporating the main social needs is being developed, along with the new priorities for the BBVA strategic plan, with the aim of working as a priority on: (i) reducing inequalities; (ii) promoting sustainable growth; and (iii) promoting connected and inclusive education.

Other responsible banking initiatives

In terms of gender diversity, BBVA was once again included, for the third consecutive year, in the Bloomberg Gender-Equality Index, which is recognition of its commitment to creating working environments of trust, where the professional development and equal opportunities of all employees are guaranteed regardless of gender.

BBVA is committed to diversity and inclusion in all its forms and as a result in 2019 it joined the Corporate Network for Diversity and LGBTIQ+ Inclusion (REDI) and decided to support the United Nations "Standards of Conduct for Business on Tackling Discrimination against LGBTIQ+ people." Adherence to these principles, which safeguard the rights of the LGBTIQ+ community in the workplace, implies a commitment by the bank to ensure equal treatment and to activate measures that detect possible discrimination related to the sexual identity or orientation of the employees. Once again this year, and as part of Pride Week, BBVA has shown its support for the community by lighting up some of its corporate headquarters around the world, including the emblematic La Vela building in Madrid, in the colors of the LGTBIQ+ flag. It has also run a photography contest on Instagram that encourages people to show what diversity means to them through the hashtag #MakeItVisibleBBVA.

In addition to the Bloomberg Gender-Equality Index mentioned earlier, BBVA is present in other international sustainability indexes and ESG indexes (Environmental, Social and Governance) that rate the performance of companies in these areas. As of June 30, 2020, the main sustainability indexes in which BBVA is present are: Dow Jones Sustainability Indices, as a member of DJSI World and DJSI Europe; MSCI , as a member of the MSCI ESG Leaders Indexes; FTSE4Good, being a member of FTSE4Good Index Series; Euronext Vigeo, as a member of the Euronext Vigeo Eurozone 120 and Europe 120 indexes; Ethibel Sustainability Excellence, specifically in Ethibel Sustainability Excellence Europe and Ethibel Sustainability Excellence Global and finally, it is included as one of the leaders in the Carbon Disclosure Project (CDP) annual index of companies fighting against climate change.

(1) The inclusion of BBVA in any MSCI index, and the use of logos, trademarks, service marks or index names herein does not constitute the sponsorship or promotion of BBVA by MSCI or any of its subsidiaries. The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI indexes and logos are trademarks or service marks of MSCI or its subsidiaries.