Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 275

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 275
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 energy transition, under the criterion of ‘do no significant harm’ to the circular economy objective, the expectation is that availability is assessed and, where feasible, equipment and components of high durability and recyclability are used, as well as it being easy to dismantle and refurbish," according to the taxonomy regulation.

BBVA assesses the substantial contribution of targeted funding, however, the degree of maturity regarding the implementation and usability of the EU taxonomy in the banking industry makes it difficult to establish a similar process to ensure compliance with the DNSH and MSS principles. For this reason, a portion of the targeted funding granted by BBVA that substantially contributes to an environmental objective is not included in the alignment metrics. BBVA has identified specific financing with a substantial contribution to other specific products such as project financing, or other products or activities included in the EU taxonomy that have not been included in the alignment metrics for the reasons described above.

The special purpose funding cases included in the Group's GAR include:

– The financing of vehicles that meet the criteria of the EU taxonomy on substantial contribution to the climate change mitigation objective, provided that the vehicle manufacturers have published that they meet the DNSH and MSS criteria.

– Loans granted to households for the purchase of energy-efficient housing, considering properties that meet the criterion of substantial contribution to climate change mitigation.

For properties built before December 31, 2020, they are considered to be within the most efficient 15% of the housing stock nationwide 29 .

Construction of new buildings for which: The primary energy demand, which defines the energy efficiency of the building resulting from the construction, is at least 10% lower than the threshold set for nearly zero-energy buildings (NZEB) requirements in national measures

28 The template of Annex VI of the Delegated Act of Article 8 Disclosure is the reference for GAR disclosures: i) Covered assets (GAR, off-balance sheet), ii) GAR: information by sector, iii) GAR KPI stock, iv) GAR KPI flow, v) Financial guarantees, assets, and management. The original EU taxonomy tables and the necessary notes with details on the perimeter and methodology can be found in the section "6.4 Tables related to Article 8 of the European Taxonomy" of this report.

29 The IDAE's "State of the Energy Certification of Buildings" report released in 2023 states that the number of cumulative registrations up to rating “C” at national level accounts for less than 5% of the total number of certificates.

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