Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 264

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 264
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 cumulative (reflects cumulative balances originated since 2018) and reflects the total flow channeled at the time of origination.                                                                                                  
 –Includes the channeling of flows that contribute to a purpose of a social nature, such as inclusive growth, and other environmental objectives.                                                                                                   |     | –They are constructed based on environmentally sustainable economic activities according to the European regulation.                   
 –Key metrics (e.g. GAR) include exposures on the asset side of the balance sheet(1).                                                   
 –Only consider the current exposure mainly reflected on the balance sheet, corresponding to the reporting date.                        
 –They consider the contribution to an environmental purpose primarily, although the regulations provide for minimal social safeguards. |
| (1)According to the regulatory definition (FINREP) of exposure: outstanding risk on loans and advances, as well as bonds in the investment portfolio.                                                                                              |     |                                                                                                                                        |

Alignment of the loan portfolio with the Paris Agreement

Article 449 bis CRR - Template 3

Achieving net zero emissions by 2050 includes addressing emissions from customers receiving financing from the Group. In order to support its customers in the transition to a more sustainable future, BBVA continues to make progress in publishing the 2030 alignment targets for the sectors defined in the Net Zero Banking Alliance's Climate Target Setting Guide.

These alignment objectives 23 involve establishing specific objectives for the different sectors that are considered to be the la

rgest emitters. According to the aforementioned Guide, these targets must be determined at sectoral level, which implies that adapted and specific targets will be set for each economic sector, in order to reduce its carbon footprint and move towards emission neutrality. This sectoral approach makes it possible to address the specific particularities and challenges of each industry on its path to environmental sustainability.

Considering the above, in 2021 BBVA announced its objective of phasing out thermal coal activities, by ceasing to finance companies involved in these activities in 2030 in developed countries by 2040 globally (under the terms of the Environmental and Social Framework).

22 Incorporated into Commission Implementing Regulation (EU) 2022/2453 of 30 November 2022 amending the implementing technical standards set out in Implementing Regulation (EU) 2021/637.

23 The achievement and steady progress toward the decarbonization objectives will depend to a large extent on the actions of third parties, such as customers, governments and other stakeholders, and may therefore be materially affected by such actions, or lack thereof, as