With a presence in four continents, the green bonds issued by the bank have financed projects in countries like the U.S., Spain, Italy, the U.K., China, Chile and Canada, among others. This global approach demonstrates BBVA’s capacity to mobilize capital in diverse regulatory and technological environments, and to support decarbonization in key sectors like renewable energy, energy-efficient construction and electric mobility.
Renewable energy makes up 61 percent of the total amount allocated, with a 45 percent increase over 2023, largely driven by projects in the U.S. Activities classified as ‘enabling’ in the clean transportation category were included for the first time this year, in line with recommendations from the International Capital Market Association (ICMA). Furthermore, BBVA financed 15 energy-efficient data centers in the U.S., each with an energy-saving profile that far surpasses sector standards.
In the green construction category, BBVA has allocated €971 million to projects that promote energy efficiency in residential and commercial buildings. Green mortgages account for 87 percent of the total amount in this category, reflecting a consolidated trend of promoting housing with reduced energy needs and a lower carbon footprint.
From an environmental impact perspective, the projects financed have prevented approximately 1.94 million tons of CO2 emissions – a 50 percent increase over the previous year (1.29 million tons in 2023). Relatively speaking, every million euros allocated prevented 333 tons of CO2 emissions, compared to 265 tons the previous year. In terms of renewable energy, performance has improved by 12 percent, reaching 535 tons of CO2 emissions for every million euros allocated. Meanwhile, relative performance in the green construction category declined (from 2.9 to 0.83 tons of CO2 emissions for every million euros allocated, in line with the concentration of operations in individual mortgages.
In terms of waste, the bank contributed to the processing of 212,142 tons of waste, compared to 170,335 tons in the previous report.