The highlights in corporate responsibility (CR) for the second quarter of 2014 demonstrate that BBVA believes in a different approach to banking: a responsible model based on principles of integrity, prudence and transparency.
BBVA has been chosen the best Spanish company in the European online communicationranking for corporate social responsibility by the Italian consultant Lundquist. The Group is outstanding in two areas: in the category of clarity, where it is in 3rd place (out of 100) because it offers a complete documentation and an online update of its CSR actions; and in the category of the social media, where it interacts significantly on sustainability through its profiles in the social media. The website bbvaresponsiblebanking.com brings together all the information on CSR.
For the second year in a row, BBVA has also voluntarily published a breakdown of its main tax payments, as well as the methodology used for calculating them. It is the first Spanish company to publish its annual tax contribution, thus demonstrating the transparency of its information and tax responsibility.
On June 24, 2014, BBVA held its second In Touch Forum, which focused on the Responsible Business plan. In the forum, various representatives from the bank presented projects and initiatives that demonstrated BBVA is a responsible bank. The forum could be viewed via streaming by all the employees.
Other highlights in the quarter are:
Transparent, Clear and Responsible (TCR) communication
BBVA is developing product leaflets to make it easier for customers to make decisions when choosing products, as well as new contracts that are drafted in a more customer-friendly way, in simple, clear and precise language, like the leaflets.
BBVA Bancomer’s financial literacy program, «Adelante Con Tu Futuro» (Forward with your Future) has received recognition for “Excellence in Financial Literacy Education” from the Institute for Financial Literacy, as the “Adult Financial Literacy Program of the Year”. This is the first time the award has been given to a Latin American institution.
In its 2013/14 year, the educational program «Valores de Futuro» (Future Values) has been completed, with 796,300 students in Spain and 600 BBVA volunteers taking part. Its aim is to deal with money as part of education and boost the values of prudence, responsibility and solidarity.
The «Momentum Project» initiative has chosen the 10 finalist companies for its 4th edition in Spain. Most of them are committed to innovation. The projects deal with issues such as improvements to the environment, the quality of life and/or people’s health and social and labor inclusion.
«BBVA Route» 2014 began its 29th edition in Lima, entitled “En busca de las Fuentes del Río Amazonas” (In the search for the sources of the Amazon River). It has renewed its commitment to education in values, cultural exchange and adventure. Over 200 students will explore the Andean country of Peru, discover its history and natural environment, and study the main problems faced by its society.
High social impact products
The «Yo Soy Empleo» (I am Employment) initiative has helped over 3,000 companies to create 5,180 jobs, or half the target set in February 2013. The people hired have been unemployed for an average of 14 months and 39% are under the age of 30. This assistance will be extended to the self-employed starting in July, in collaboration with the National Federation of the Self-Employed (ATA). There will be 1,000 aid packages of 1,500 euros in all for each new self-employed person starting work.
«BBVA SUMA», the Bank’s digital collective funding platform for social projects, has joined the SOMOS campaign. It is made up of 33 NGOs and coordinated by the Spanish Fundraising Association. Participants can choose between making a contribution to one of these NGOs or to one of the campaign’s six causes.
The Group has launched the “Becas 3.000″ program in Spain for two years. It will provide €13m for young people to improve their education in a global financial institution such as BBVA, and above all improve their future employability. Those receiving the scholarships will carry out practical work experience in the bank for six months, guided by the bank’s professionals who will act as their mentors.
BBVA has joined the Green Bond Principles, whose work is to establish standards and guide issuers on the key components of bond issues, ensure information is available to investors and facilitate market transactions for underwriters.
Science and culture
The BBVA Foundation is committed to the support of research and dissemination of scientific knowledge. It has allocated five million euros for this purpose, divided into three types of aid: for research projects, for researchers, innovators and creators, and for video art creation.
Lastly, BBVA Compass has been recognized by Americans for the Arts as one of the ten companies in the country that provide most support for the arts, thanks to its commitment through scholarship programs, local collaboration, volunteer programs and sponsorship.
BBVA in the Sustainability Indices
BBVA has a prominent position in the main sustainability indices at international level.
The New York Stock Exchange and the Vigeo agency have launched a new series of sustainability indices that include the most advanced companies in ESG. These indices are: Euronext Vigeo World 120, Euronext Vigeo Europe 120, Euronext Vigeo France 120 and Euronext Vigeo United Kingdom 20. BBVA is the only Spanish bank that forms part of Euronext Vigeo Europe 120, together with seven other Spanish companies.
The weighting of BBVA in the main indices as of June 30, 2014 was as follows:
- DJSI World 0.75
- DJSI Europe 1.53
- DJSI Eurozone 3.1
- MSCI World ESG Index 0.44
- MSCI World ex USA ESG Index 0.97
- MSCI Europe ESG Index 1.66
- MSCI EAFE ESG Index 1.10
- FTSE4Good Global 0.43
- FTSE4Good Global 100 0.73
- FTSE4Good Europe 1.06
- FTSE4Good Europe 50 1.80
- Euronext-Vigeo Europe 120 0.79
- Euronext-Vigeo Eurozone 120 0.82
- STOXX Global ESG Environmental Leaders 0.50
- STOXX Global ESG Social Leaders 0.49
- EURO STOXX ESG Leaders 50 1.95
- STOXX Europe ESG Leaders 50 1.96
- STOXX Global ESG Leaders 0.33