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BBVA, KB Financial Group advance on DJSI to become world’s most sustainable banks
BBVA has improved one position in the Dow Jones Sustainability Index (DJSI), thus becoming the most sustainable bank in the world, together with the South Korean bank, KB Financial Group.
Both banks received the highest score in the global banks category. After holding the second position for the past two years, this is the first time that BBVA has reached the top position in this benchmark international ranking.
“Sustainability is a strategic priority for BBVA. Now, the Dow Jones Sustainability Index is recognizing our leadership by giving us the highest score in their global index. This recognition confirms the success of our sustainability strategy and encourages us to continue working with the goal of accompanying our customers and society as a whole as they move toward a more sustainable and inclusive future,” said BBVA’s Global Head of Sustainability, Javier Rodríguez Soler.
“BBVA’s ESG [Environmental, Social, Governance] score was updated by S&P Global on January 21, 2022 after the initial score released on November 12, 2021 in accordance with S&P Global’s policies and re-assessment processes,” DJSI’s rating agency said, regarding this update.
BBVA, which had 88 points (out of a possible score of 100) in the global index, received 89 points after S&P Global re-evaluated the response provided by the bank, specifically in the fiscal strategy section, where it obtained 100 points. BBVA already had the highest possible score in financial inclusion; social and environmental information; human capital development; and materiality. In terms of the three major dimensions assessed by the index, BBVA received 8 points in economics and corporate governance; 94 points in the environment; and 92 points for social criteria.
A total of just 24 banks were included in the DJSI World, and BBVA has been the top-ranking Spanish bank in this index since 2020.
Over 10,000 listed companies were invited to participate in the analysis conducted by S&P Global CSA. The assessed companies respond to an extensive questionnaire with nearly 100 questions on ESG issues, collecting both public and non-public data from the participants. Just 10 percent of the companies from each sector with the best scores in this analysis are selected to be part of this prestigious index.
In addition, BBVA was included in the Gold Class for the banking industry in The Sustainabiliy Yearbook 2022 released today by S&P Global. “We congratulate BBVA for its inclusion in The Sustainability Yearbook 2022. Over 7,000 companies were assessed, and this distinction highlights dedication to sustainable business practices,” said Manjit Jus, Managing Director, Global Head of ESG Research, S&P Global.
Continuing to be selected for these indexes depends on companies’ constant progress in sustainability issues and influences their eligibility for investment portfolios, which are increasingly granting greater importance to non-financial factors.
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 secure decision-making.
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