Banco Bilbao Vizcaya Argentaria Sustainability Profile
Banco Bilbao Vizcaya Argentaria, commonly known as BBVA, is a leading global financial institution headquartered in Spain. Established in 1857, BBVA has evolved into a prominent player in the banking industry, with a strong presence in Europe, Latin America, and the United States. The bank offers a diverse range of services, including retail banking, asset management, and corporate banking, distinguished by its commitment to innovation and digital transformation. BBVA has achieved significant milestones, such as its expansion into international markets and the adoption of cutting-edge technology to enhance customer experience. With a focus on sustainable finance and responsible banking, BBVA has positioned itself as a market leader, recognised for its robust financial performance and customer-centric approach. The bank continues to set benchmarks in the industry, making it a trusted choice for individuals and businesses alike.
DitchCarbon Score
How does Banco Bilbao Vizcaya Argentaria's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Services Auxiliary to Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Banco Bilbao Vizcaya Argentaria's score of 67 is higher than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Banco Bilbao Vizcaya Argentaria's reported carbon emissions
In 2024, Banco Bilbao Vizcaya Argentaria (BBVA) reported total carbon emissions of approximately 50,186,840 kg CO2e. This includes 11,064,780 kg CO2e from Scope 1 emissions, 4,481 kg CO2e from Scope 2 (market-based), and a significant 39,122,060 kg CO2e from Scope 3 emissions. The previous year, 2023, saw total emissions of about 49,912,890 kg CO2e, with Scope 1 emissions at 13,224,860 kg CO2e and Scope 3 emissions at 36,688,020 kg CO2e. BBVA has set ambitious reduction targets as part of its 2025 Pledge, aiming for a 68% reduction in Scope 1 and 2 emissions and a 70% increase in renewable energy consumption by 2025. Additionally, the bank has established intermediate decarbonisation goals for 2030, targeting a 30% reduction in emissions from key sectors such as electricity generation, automotive, steel, and cement, which collectively account for about 60% of global CO2 emissions. In Argentina, BBVA has successfully reduced its direct CO2 emissions by 39% compared to 2019 levels. The bank's commitment to sustainability is further underscored by its participation in various initiatives, including the Science Based Targets initiative (SBTi), although it has not yet committed to a net-zero target. Overall, BBVA's emissions data and climate commitments reflect a proactive approach to addressing climate change, with a focus on significant reductions in its operational footprint and a transition towards renewable energy sources.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 17,781,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 209,362,000 | 000,000,000 | 00,000,000 | 00,000 | 000 | 0,000 | 0,000 |
| Scope 3 | 65,289,000 | 00,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Banco Bilbao Vizcaya Argentaria's Industry?
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Banco Bilbao Vizcaya Argentaria's Scope 3 Categories Breakdown
Banco Bilbao Vizcaya Argentaria's Scope 3 emissions, which increased by 7% last year and decreased by approximately 40% since 2018, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 78% of total emissions under the GHG Protocol, with "Downstream Leased Assets" being the largest emissions source at 8% of Scope 3 emissions.
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Banco Bilbao Vizcaya Argentaria's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Banco Bilbao Vizcaya Argentaria has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Banco Bilbao Vizcaya Argentaria's sustainability data and climate commitments