BBVA Reaches €300 Billion Sustainable Business Target a Year Early

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- Record Year: BBVA channeled €99 billion into sustainable business in 2024, bringing its total to €304 billion from 2018-2024.
- Climate-Focused: 78% of the funds supported climate action and natural capital, with 22% allocated to social initiatives.
- Strategic Expansion: BBVA launched a sustainability hub in Houston and committed $200 million to KKR’s global climate strategy.
BBVA reached its €300 billion sustainable business target one year early, exceeding its initial 2018-2025 commitment. The bank had progressively raised its goal, from €100 billion in 2018 to €200 billion in 2021, and then to €300 billion in 2022.
Javier Rodríguez Soler, BBVA’s Global Head of Sustainability and Corporate Banking: “Sustainability is a great business opportunity… an even bigger and more accelerated opportunity than we thought. After attaining this target one year ahead of schedule, we will continue to boost the transformation by supporting our clients in this global challenge. Financing the investment in decarbonization and new technologies is one of our strategic priorities.”

Investment Breakdown:
- Climate & Natural Capital (78%): Decarbonization, water resources, circular economy initiatives.
- Social Initiatives (22%): Education, healthcare, financial inclusion, and entrepreneur support.
Related Article: BBVA Invests €71 Billion into Sustainable Business in First Three Quarters of 2024
Energy Transition Push:
- BBVA sees strong growth in decarbonization investment, fueled by rising energy demand and renewable profitability.
- McKinsey projects nearly half of future emission reductions will come from emerging, unscaled technologies.
- BBVA is prioritizing investments in green technology, with participation in leading climate-focused funds.
Strategic Moves in 2024:
- Houston Sustainability Hub: Expands U.S. energy transition financing.
- KKR Partnership: $200 million investment in KKR’s global climate strategy, backing large-scale low-carbon solutions.
Why It Matters:
BBVA’s rapid acceleration underscores the financial sector’s increasing role in driving sustainable transformation, positioning the bank as a key player in global climate investment.
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