The most relevant news in the second quarter of 2015 with respect to responsible banking has been the creation of the new Responsible Business unit and the presentation of the Report on the Social Impact of BBVA in Spain in 2014.
BBVA is making progress in its development of the responsible banking model. It has created the Responsible Business unit, which strengthens the integration of all the aspects related to responsible banking at the heart of the business and in relation to the different stakeholders. Through this new unit, BBVA has reaffirmed its commitment to put people at the core of its whole responsible and digital strategy.
The 2014 Report on the Social Impact of BBVA in Spain explains simply and directly the influence of BBVA on society and shows how its products and services are succeeding in improving all phases of people’s lives, with financial literacy programs for children and grants for young people, through to finance for adults and pension plans. At the same time, two issues of particular concern to the public are focused on: housing and unemployment. On the housing front, BBVA has adopted a social housing policy to make sure that the most vulnerable families do not become homeless; and with respect to the labor market, the report reveals that more than 100,000 jobs are linked to BBVA’s activity, which accounts for 0.6% of Spain’s active population.
In addition, this quarter BBVA has renewed its place on the sustainability indices Ethibel Excellence, Euronext Vigeo (Eurozone and Europe) and MSCI Global Sustainability.
BBVA has anticipated the risk warning light for financial products proposed by CNMV, as part of its commitment to Transparent, Clear and Responsible (TCR) communication. It has developed TCR leaflets to explain fully and clearly not only funds but the vast majority of its products (90%). With this initiative, BBVA aims to help its customers to take informed decisions.
For the second year in a row, BBVA Bancomer has won the Institute for Financial Literacy Education Program of the Year award at the EIFLE Awards in the “general children” category for its “Valores de futuro” (Future Values). Since its launch more than 100 workshops have been given, benefiting over 25,000 children and young people across the country. BBVA Compass has taken a step toward improving citizens’ financial future with the launch of two websites: Money Fit, with information on personal finances, and Great Ideas for Small Business, aimed at owners of small businesses.
Products with a high social impact
BBVA has signed an agreement with the European Investment Bank (EIB) to help boost the economy and job creation in Spain. It consists of a loan of €1,000m destined to help finance small and medium-sized enterprises.
BBVA Colombia has joined the National “40,000 primeros empleos” (40,000 first jobs) program, a Colombian government initiative that aims to benefit recent higher education and high-school graduates who have not been able to continue with their education to find their first job.
Momentum Project Spain is into its fifth year with five more participants than in previous years. The ten enterprises selected are joined by the five winners of the 7th Integra Award, which rewards innovative initiatives to encourage the labor market integration of people with disabilities in Spain. The 15 enterprises chosen to take part in Momentum will have access to a training program, strategic support and funding, aimed at helping them to improve their project, increase its impact and develop sustainable business models.
BBVA has called for applications for the next BBVA Open Talent awards, which recognize innovative startups that are transforming financial services, or are linked to security, user experience and big data. The winners will receive a prize of 30,000 euros and an intensive program where they will work with industry professionals.
BBVA Suma has launched a donation campaign in collaboration with Nepal in the wake of the earthquake measuring 7.9 on the Richter scale. It was the worst earthquake in the Himalayan region in the last 80 years.
Education for society
The BBVA Bancomer Foundation and the National Institute for Adult Education (INEA) have reached a 3-year agreement to collaborate with the National Campaign to Promote Literacy and Combat Educational Backwardness, adding 900 scholarship recipients of the “Becas Adelante” scholarship program to the educational effort.
BBVA Colombia has delivered 1,200 packages with school material to children at various centers as part of its Responsible Business Plan, through which in 2015 it will contribute 6,700 million pesos to support education, entrepreneurship and sports.
Ruta BBVA has presented its XXX edition. This year, the 176 participants in Spain, Portugal and all the countries in the Americas will travel for a month through Spain and Colombia on a path called “Aventura al país de las esmeraldas” (Adventure in the Emerald Country). The academic program of this expedition will be organized into workshops and activities to develop the students’ entrepreneurial skills.
BBVA has been chosen as one of the Best Companies to Work for in Latin America in 2015 in the annual ranking prepared by the prestigious international consulting firm Great Place to Work. This overall recognition has been achieved thanks to the local awards received by the Group in Argentina, Chile, Mexico, Paraguay, Peru and Venezuela.
Following the success in recent years, the fourth “Territorios Solidarios“ program is aiming to continue to encourage the greatest possible participation by employees resident in Spain to develop charitable products headed up by non-profit organizations.
BBVA forms part of the Spanish Green Growth Group, a public-private partnership platform coordinated by the Ministry of Agriculture, Food and the Environment, to make joint progress in the fight against climate change and toward a low-carbon economy. In May, the Group presented the Barcelona Declaration as part of the 12th Carbon Expo. The document includes 10 recommendations to be included in all economic policies in order to create the right environment for the potential of a low-carbon economy to turn into economic growth and jobs.
Through the Digitalization & NFT (New forms of Work) project, the Bank in Spain has managed to eliminate paper equivalent to the height of the world’s highest mountain, Everest (8,848 meters), weighing 350 tons. Other new headquarters of the Group, such as those that BBVA Bancomer has constructed in Colonia Juárez in Mexico City, are also implementing digitalization projects similar to those in Spain.
Science and Culture
The BBVA Foundation has held the seventh “Fronteras del conocimiento” (Frontiers of Knowledge) awards, which honor people who have made particularly significant progress in a broad range of areas, such as health, the environment, the technological revolution, global malnutrition or artistic innovation.