Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 274

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 274
---
 granted to a counterparty has a general purpose for the counterparty, or whether it responds to a specific purpose, in which case it relates to products with a specific purpose. In order to comply with the Taxonomy Regulation and to identify the Group's exposures to activities included in the European taxonomy, where applicable, the extent to which counterparties are aligned with said taxonomy is verified.

#### General purpose financing
Non-financial companies subject to the NFRD (Non-Financial Reporting Directive) were required to publish for the first time in their management reports at the close of the 2022 fiscal year, their KPIs 28 related to climate change mitigation and adaptation objectives: i) Turnover, and ii) their capital expenditure (CapEx) and operating expenses (OpEx). Starting in 2024, these publications will include indicators corresponding to other environmental objectives.

The information published by non-financial companies subject to Art. 19a and 29a of Directive 2013/34 is necessary for financial institutions to calculate the eligibility and alignment of certain exposures recorded among their assets. In this way, the information published by these counterparties is used to calculate the proportion of general purpose exposure aligned with the EU taxonomy.

The Group has obtained the data published by certain companies through an external provider and uses it to calculate the alignment of the general purpose financing granted to these companies. Public customer information is also used to more accurately reflect eligible activities.

The KPIs established by the regulation for credit institutions provide a comprehensive breakdown of the bank's exposures to activities covered (eligible) by the EU taxonomy, and additionally those that are not only eligible, but also meet all the necessary requirements of the taxonomy to be considered sustainable (aligned).

#### Financing for specific purposes
The alignment with the EU taxonomy of funding that is granted for a purpose or destination that is known to the entity must be analyzed taking into account all the requirements established by the technical screening criteria mentioned above: (i) substantial contribution; (ii) does no significant harm; and iii) minimum social safeguards.

In order to determine that specific funding does not cause significant harm (DNSH), it must be demonstrated that the remaining environmental objectives are not impaired based on guidelines established by the standard. Therefore, the financing granted to a company that contributes substantially to the climate change mitigation objective must also ensure compliance with the DNSH criteria for the remaining objectives. For example, in relation to the "power generation using solar photovoltaic technology" activity, which is a key technology for the EU's renewable