Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 259

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 259
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. Environmental risk

### 7.2.1. Strategy and business processes
Our sustainability strategy and objectives

Article 449 bis CRR - Table (1) a), b)

BBVA has made sustainability one of its six strategic priorities, focusing on the fight against climate change, the protection of natural capital, and inclusive growth.

BBVA's sustainability strategy has a roadmap with two clear objectives:

– Fostering new business through sustainability with a global and holistic approach to global warming, natural capital and social issues: BBVA aims to channel EUR 300 billion in sustainable business between 2018 to 2025 21 . As part of the 2025-2029 Strategic Plan, BBVA has set a new sustainable business target of EUR 700 billion over these years. This means more than doubling the previous EUR 300 billion for the 2018-2025 period, which already reached EUR 304 billion by 31 December 2024, one year ahead of schedule, and around EUR 99 billion for the year.

With regard to climate change, BBVA channelled more than EUR 77 billion in 2024, which was

earmarked, among other things, for the electrification of industry, energy efficiency measures, the development of renewable projects and the promotion of solar self-consumption, and the transformation of the transport and logistics sector.

– Achieve Net Zero by 2050 with sectoral decarbonization plans in those sectors most relevant to the decarbonization process: BBVA has interim decarbonization goals (2030) that include the oil and gas, electricity generation, automotive, cement, steel, coal, aviation and maritime transport sectors. In 2024, it incorporated targets for the aluminum and real estate sectors (both commercial and residential in Spain).

Intermediate decarbonization targets are defined using alignment methodologies that help to understand how financial flows contribute to emission reductions, while also helping to design sectoral alignment plans. Moreover, these plans help define the commercial strategy with customers based on risk and business opportunity considerations, as well as the assessment of the customers’ own transition plans.

(1) Oil & Gas (upstream), Power generation, Auto (manufacturers), Steel (manufacturers), Cement (manufacturers), Coal (thermal coal mining), Aviation (airlines), Shipping (operators), Real estate (commercial), Real estate (residential), Aluminum (primary manufacturing).The geographical scope of the real estate sector's (commercial and residential) intermediate emissions reduction target for 2030 is Spain