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BBVA top European bank in latest Dow Jones Sustainability Index for 2nd year
BBVA has obtained – for the second consecutive year – the best score in the European banking category and a second place at global level in the latest Dow Jones Sustainability Index, released on Friday, November 12, 2021.
This is the benchmark index for sustainability worldwide, which has singled out BBVA, among more than 200 financial institutions, for its ESG (‘Environmental, Social and Governance’) performance. 24 banks have been included in the index.
BBVA thus repeats its presence in the most prestigious benchmarks in the world: the Dow Jones Sustainability Index World & Europe. Likewise, BBVA Peru has been included for the first time in the DJSI MILA Pacific Alliance. It is the only Peruvian bank in the index.
As of Nov 12, 2021, BBVA scored a total of 88/100 in 2021 (the same score as last year). The bank obtained 85 points for economic and corporate governance, 94 points in the environmental component and 92 points in the social component. In addition, it achieved the highest score (100 points) in several of the areas evaluated, such as financial inclusion, environmental and social reporting, human capital development; and materiality.
“In early 2020, BBVA made sustainability one of its strategic priorities. Today, the Dow Jones Sustainability Index, in its November 2021 analysis, is once again recognizing the bank with the highest score in Europe and the second best in its global index. This recognition confirms the success of our sustainability strategy, with a double focus on climate action and inclusive growth,” said BBVA Global Head of Sustainability Javier Rodríguez Soler.
This year, more than 10,000 publicly traded companies were invited to participate in the S&P Global CSA. They are required to submit a thorough questionnaire, consisting of some hundred questions related to ESG issues, assessing both public and non-public data submitted by participating companies. Only the top 10 percent of companies in each sector in this analysis are chosen to form part of this index.
“We congratulate BBVA for being included in the Dow Jones Sustainability Index (DJSI). This distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is testament to the growing movement for ESG disclosure and transparency,” said Manjit Jus, Global Head of ESG Research, S&P Global.
Regarding climate action, BBVA this year announced that it will double its initial sustainable finance target from €100 billion to €200 billion between 2018 and 2025. The financial institution will cease financing coal in developed countries by 2030 and by 2040 in all other countries. To achieve its goal of becoming carbon neutral by 2050, BBVA has also set intermediate targets to decarbonize its portfolio in four emissions-intensive sectors by 2030.
In inclusive growth, BBVA recently announced its Community Commitment. Between 2021-2025, it will allocate 550 million euros to social initiatives in the most ambitious social plan launched to date by the bank.
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