BBVA secures more than 40 billion euros in sustainable financing, supporting the fight against climate change


Sustainable projects and green bonds

In 2019, the bank financed sustainable projects totaling 1.1 billion euros, mainly in the renewable energy sector. This figure increased by 479 million euros in the first six months of 2020, reaching a cumulative volume of 2.4 billion euros since 2018. Among the most important agreements that have been concluded, it is worth mentioning the financing of three wind farms in Italy, 11 in Spain, and the first offshore wind farm in France.

During the first half of 2020, the bank maintained the pace of its financing of long-term projects by participating in 11 transactions representing new business and totaling 5.4 billion euros. The bank’s sustainable financing activity deserves special attention. In the first half of 2020, a total of four renewable project agreements were concluded, including those with Kincardine (Scotland) and Monegros (Spain).

On the social level, the bank has been particularly active in telecommunications projects and financing, having participated as lead bank in three agreements in the sector in the last six months. BBVA gives priority to activities related to telecommunications infrastructures because of the important role they play in social aspects, facilitating access to new technologies, digitization and contributing to economic development.

Regarding obligations, in 2019, BBVA acted as coordinator of 20 issues, representing a total of 23.2 billion euros raised, with a market share of 3.4 billion euros. In 2020, this figure increased by 2.1 billion euros, reaching a cumulative volume of 6.9 billion euros since 2018.

In May 2020, it became the first private financial institution in Europe to issue a COVID-19 social bond

Some of these transactions broke new ground, such as a telecommunications company’s first global green bond and the first green structured bond using blockchain technology. With this activity, BBVA is the seventh bank in number of issues and ninth in volume raised with green bonds. The bank also promotes the social dimension of sustainability: in May 2020, it became the first private financial institution in Europe to issue a COVID-19 social bond.

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