BBVA - Press Room

• BBVA is the first Spanish financial institution to launch a Global Eco-efficiency Plan. This plan sets specific targets and has a budget of €19 million
• BBVA's 2008-1012 Global Eco-efficiency Plan aims to minimize the direct environmental impacts of BBVA, and starting in 2012, it will save the company €1.5 million a year
• BBVA sees environmental conservation as a driver for innovation in products and services, and also as a clear business opportunity
  

Today BBVA presented its 2008-2012 Global Eco-efficiency Plan, which enumerates a series of ambitious, specific and measurable goals and aims to cut CO2 emissions by 20% in 2012. "The 2008-2012 Eco-efficiency Plan" is a key element in the BBVA's full-spectrum approach to the environment and forms part of our Environmental Management System," said  BBVA president, Francisco González, during the presentation of the Plan. BBVA has budgeted €19 million towards the implementation of the plan, making it the first Spanish financial institution to undertake a Global Eco-efficiency Plan.  This makes it one of the five leading financial institutions in the world spearheading this type of initiative.

"In BBVA we are committed to encouraging development in the societies where we do business. There are three reasons behind this commitment: principles, self-interest, and necessity," explained Francisco González, adding that the bank is creating a more integrated full spectrum approach to meet the challenges posed by environmental conservation. This approach has five main lines of action:  international agreements, environmental risk management, environmentally driven innovation in products and services, sponsorship, corporate volunteerism, and eco-efficiency.

"This shows", continued the BBVA president, "our commitment to sustainability and the environment in the regions where we operate." The first line of action in our Environmental Management System is the adherence and commitment to the main international agreements on environmental issues," he added.

BBVA is the only financial institution that adheres to all the international agreements in force, which not only entail very strict environmental management criteria, but also demand maximum transparency through periodic reports that are verified at intervals by third parties.

Management of the lending activity

BBVA works mainly in the integration of environmental criteria in the consulting and financing of large investment projects. It is the only Spanish bank committed to the Equator principles, a benchmark initiative for the financial sector promoted by the World bank. This is the most advanced international standard for managing environmental and social issues in project finance. BBVA has budgeted over million for this project.

The second cutting-edge initiative in the lending business is the development of "Ecorating", a proprietary evaluation and environmental risk analysis model for lending portfolios.

BBVA sees environmental conservation as a driver for innovation in products and services, and a clear business opportunity. The bank is developing multiple environmental projects, and is the world leader in financing wind farms, and also the leader in green energy in the United States. Furthermore, it has agreements with the main multilateral institutions for credit lines to finance environmental initiatives, is active in the CO2 emission rights market and is also working in the photovoltaic panel field.

BBVA's president also highlighted the important sponsorship work being done by Fundación BBVA, with initiatives such as the Premios a la Conservación de la Biodiversidad (Biodiversity Conservation Prize), the Premios Fronteras del Conocimiento (Frontiers of Knowledge Prize) and the support provided for environmental projects, "as well as the volunteer activities of the BBVA employees who are working altruistically on reforestation projects and serving as a great example to us all."

Global Eco-efficiency Plan

This is a global plan, with specific targets for the 2008-2012 period, and is a highly valuable project for both society and BBVA. The implementation of this Plan will result in cost savings, an improved image and reputation for the company, and will also increase the likelihood that an investor who is concerned about these issues will pick BBVA stock over others.

"In short," continued Francisco González, "this plan is based on seeing the environment as a motor for innovation and differentiation. It's a plan with ambitious, specific, measurable objectives and a budget of €19 million."

"With this plan we aim to reduce our CO2 emissions by 20% by 2012, a target which is shared by the European Union ' but for 2020, that is to say, eight years later than us," continued Francisco González.

Ángel Cano, manager of Resources and Operations at BBVA, explained that eco-efficiency is not a new theme for BBVA, since in recent years it has carried out several initiatives in various areas with measurable results, "but now is the time for a Global Eco-efficiency Plan, which represents a qualitative leap in minimizing the direct environmental impacts of our company."

Eco-efficiency Plan Lines of action

The Eco-efficiency plan is structured around several lines of action:

•    Separation and recycling of solid urban waste and hazardous waste
•    Separation and recycling of computer waste
•    Reduction of electricity consumption per employee
•    Reduction of water consumption per employee
•    Reduction of paper consumption per employee
•    Establishing sustainability criteria for purchasing
•    Increase the number of ISO 14001 quality certifications.
•    Obtain LEED certifications in the new Madrid, Mexico, and Paraguay headquarters
•    Implementation of green vehicle policy
•    Use of videoconferences and reduction of business trips
•    Offsetting CO2 emissions, and reforestation.
•    Training, Dissemination and Education Programs

Through all of these measures, BBVA seeks to meet one of the greatest challenges facing humanity: environmental conservation. Reducing global warming and obtaining energy efficiency are key to this battle.

"Great challenges represent great opportunities for people, businesses and societies," concluded Francisco González.