BBVA to mobilise €100 billion by 2025 to fight climate change and drive sustainable development
BBVA has announced its strategy around climate change and sustainable development, Pledge 2025. The strategy will help the bank meet the United Nations Sustainable Development Goals and is in line with the Paris Agreement on Climate Change.
Pledge 2025 will help the bank align its activity to a 2ºC Scenario and strike a balance between sustainable energy and fossil fuel investments and is based on three lines of action: financing, management and engagement.
BBVA is pledging to mobilise €100 billion in green finance, sustainable infrastructures, social entrepreneurship and financial inclusion through 2025.
The bank is also committing to work to mitigate its own environmental and social risks and minimise potentially negative impacts, both direct and indirect. Additionally, BBVA will engage all stakeholders to increase the financial sector’s contribution to sustainable development.
BBVA has been one of the most active European institutions in sustainable finance. With this pledge, the bank is affirming its position and providing a roadmap to transition towards a more sustainable economy by 2025 – all while creating value for the bank, its customers and clients.