Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 267

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 267
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VA incorporated the Commercial and Residential Real Estate and Aluminum sectors. For the aluminum sector, the International Aluminium Institute's (IAI) Net Zero scenario and Mission Possible Partnership 1.5 °C Roadmaps (MPP), which are science-based benchmarks recognized by the industry, have been used as reference points. In the case of the real estate sector, the scope of the target is Spain and the National Energy and Climate Plan (NECP) was used as a reference and roadmap setting out the national targets for emissions reduction, renewable energy penetration and energy efficiency.

#### Calculation of the metric
The metrics used are emissions intensity per unit of production for the sectors using the PACTA methodology (Power generation, Steel, Cement, Automobiles and aviation) in each sector, following NZBA recommendations. To calculate the metric, each client is assigned an emissions intensity figure 26 based on their production capacity. This figure is obtained by weighting the different intensities that a customer may have depending on the different technologies used in their economic activity. The intensity metric is calculated as the average intensity per customer, weighted by the production with each technology.

Once the intensity per customer is obtained, the portfolio intensity is calculated as the weighted average by the weight of each customer's exposure over the total exposure under analysis. In this calculation, the customer's total exposure (willing plus unwilling committed) is used.

In the case of the aviation sector, the external provider database includes the belly freight factor, making it hard to compare the metric with our peers and with the different scenarios. To facilitate the analysis, the metric is calculated without a load factor (by applying a correction factor) and is published in the non-financial information statement. The figure without the load factor and after methodological adjustments is 90 gCO 2 /pkm).

In the case of the oil and gas sector, the methodology used is PCAF. First, the in-scope exposure of each client is defined, meaning the client's subsidiaries with upstream business. Once this exposure has been calculated, it is used to calculate an emissions attribution factor, as indicated by PCAF. This factor is used to calculate the emissions to be attributed to BBVA as financier.

The absolute emissions figure financed in 2021 was 14 million metric tons of CO 2 e and the reduction target for 2030 is 30%. At year-end 2024, this figure stood at10.5 million tons.

For the shipping sector, a methodology inspired by the main alignment methodology of the sector has been used.