Energy Efficiency, GHG Emissions, Finance  -  February 28, 2025

BBVA Doubles Target to Fund Sustainable Businesses

BBVA plans to allocate €700 billion in sustainable business between 2025 to 2029.

The new amount is more than double the previous target the financial services company set of €300 billion for the 2018–2025 period, which it reached in December 2024 one year ahead of schedule. This new goal will also run for a shorter period: five years compared to eight.

“At BBVA we continue to view sustainability as a strategic priority and a key driver of differential growth. We believe that the business opportunity in the second part of the decade will be driven by solid investment in infrastructure and by the maturity of certain new clean technologies, which will make them  ― many of those that are not yet ―  profitable,” said BBVA’s Global Head of Sustainability and Corporate and Investment Banking, Javier Rodríguez Soler, in a statement.

The channeling of sustainable business at BBVA includes aspects related to climate change and natural capital (which includes activities related to water, agriculture and circular economy), as well as the promotion and financing of social initiatives, such as social, educational and health infrastructure and support for entrepreneurs and their companies.

From January 2018 to December 2024, BBVA allocated €304 billion in sustainable business, with 78% channeled into climate change mitigation and adaptation projects and the preservation of natural capital and the remaining 22% to inclusive growth initiatives.