Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 268

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 268
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 For each customer and each vessel, an emission intensity was calculated and compared individually with the IMO (International Maritime Organization) scenarios and a score was obtained. These scores are aggregated and weighted by the exposure of each customer to obtain a portfolio score. In June 2023, the International Maritime Organization (IMO) published an update of its strategy to reduce emissions from ships. This new strategy envisages a higher ambition to reach net zero emissions by 2050 and sets indicative 2030 checkpoints to achieve an emissions reduction of at least 20% by 2030, striving to reach 30%.

Following the review of the minimum and effort trajectories published by the IMO, BBVA has updated the shipping industry alignment metrics for the 2022 financial year and reported in 2023. The alignment metric resulting from this update stands at +17.4% and +21.7% respectively, indicating an intensity above that required under the IMO’s new decarbonization trajectory.

BBVA's 2030 target 27 of conforming to the updated IMO trajectory remains unchanged, i.e. achieving a percentage deviation (delta) of 0% or less with respect to this decarbonization path by 2030.

24 Excluding the Netherlands and Romania.

25 Oil and Gas companies with exploration, drilling and extraction activities.

26 The primary provider of emissions intensity information is Asset Impact, which provides asset information for the portfolio included in the calculation scope.

27 The baseline of the metrics may experience variations, as the information sources used and the methodology are constantly evolving. BBVA's goal is to maintain the level of ambition for reduction despite the modifications. Additionally, achieving these objectives is not expected to be a linear process in the short term, and it may be necessary to accept some deterioration in the short term in order to achieve them in the long term.

| PILLAR 3 2024 |     | 7. PRUDENTIAL DISCLOSURES ON ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS |     | P.272 |

The alignment metrics with respect to the minimum trajectory under the IMO Strategy for 2024 are -7.49% and -2.99% for the effort trajectory.

#### Calculation of the scenario
To calculate the alignment, BBVA takes the IEA Net Zero scenario as a reference, except in the case of aviation and cement, where the ISF NZ scenario developed by the University of Technology Sydney for UNPRI has been used. However, the data used as a reference in 2030 for the