BBVA

InfluenceMap Score
C-
Performance Band
66%
Organisation Score
48%
Relationship Score
Sector:
Financials
Head​quarters:
Bilbao, Spain
Official Web Site:
Wikipedia:

BBVA appears to be broadly supportive of sustainable finance policy. BBVA has stated support for a role for the financial sector in achieving the goals of the Paris Agreement and in 2021 its CEO, Carlos Torres Villa, has advocated for action to meet net-zero by 2050 in BBVA’s website and in a CEO letter government leaders. BBVA also appears to support reform to make the financial system more sustainable and, more specifically, to address short-termism in markets.

BBVA stated broad support for policies covered by the EU's Sustainable Finance Action Plan on its website in 2018. In feedback to the European Commission's High-Level Expert Group (HLEG) in 2017, BBVA stated support for many of the HLEG recommendations, including the taxonomy, although expressed caution over the creation of an EU Green Bond Standard. In 2021, BBVA stated support for the taxonomy on its website. However, one website blog in 2020 suggests the group did not initially support a stringent version of the policy, arguing for "most flexible and inclusive taxonomy possible". In feedback to the Commission’s consultation on the Renewed Sustainable Finance Strategy in 2020, BBVA appeared to support the expansion of the taxonomy to cover environmentally harmful activities, however, it suggested including only 'extreme fossil fuels' to account for in-transition activities and sectors.

In 2020, BBVA supported an ambitious review of the EU Non-Financial Reporting Directive in a Commission consultation and in 2021 it advocated for a more ambitious scope in feedback to the Commission’s CSRD proposal Also in 2021, the World Economic Forum submitted a statement to the SEC on behalf of its corporate partners, BBVA included, supporting the need for policy to improve corporate ESG disclosure.

In feedback to the European Commission's consultation on the Renewed Sustainable Finance Strategy in 2020, BBVA supported stronger verification mechanisms for EU Green Bonds and a ESG benchmark, however it did not support some of the Commission’s suggestions for new ESG labels, such as labels for investment funds. In the same consultation, BBVA appeared to support incorporating ESG risks into prudential regulation but did not appear to support updating fiduciary duty to incorporate adverse impacts on sustainability.

BBVA lacks a clear disclosure of its sustainable finance policy positions or its trade association memberships.

QUERIES
DATA SOURCES
1NSNS10NSNS
121NS12NS
110110NS
22NS1NSNSNS
11111NSNS
1NSNS1NSNSNS
1NSNS-1NSNSNS
1NSNS10NSNS
0NANANANANANA
-2NANANANANANA
Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
41%
 
41%
 
49%
 
49%
 
42%
 
42%
 
58%
 
58%
 
55%
 
55%
 
49%
 
49%
 
47%
 
47%
 
48%
 
48%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.