Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 272

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 272
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 communications (TMT); financial institutions; and financial sponsors.

In addition, since 2023 it has been offering a long-term incentive linked, among other variables, to the degree of compliance with decarbonization targets in the oil & gas, power generation, auto, steel, cement and coal sectors.

BBVA follows NZBA guidelines and recommendations to make progress in defining decarbonization targets and achieve zero net emissions by 2050. The Group will continue to work on assessing new sector plans and expanding the scope of existing plans as the industry makes further progress in defining methodologies and data availability.

| PILLAR 3 2024 |     | 7. PRUDENTIAL DISCLOSURES ON ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS |     | P.274 |

Information related to Article 8 of the Taxonomy of the European Union

Article 449 bis CRR - Table (1) c)

Article 449 bis CRR - Templates 6, 7, 8

Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 (hereinafter referred to as the Taxonomy Regulation) on the establishment of a framework to facilitate sustainable investments aims to establish the criteria for determining whether an economic activity is considered environmentally sustainable, compatible with the objective of keeping global warming below 1.5°C compared to pre-industrial levels and with the European Green Pact.

In addition, Article 8 establishes certain disclosure requirements for companies subject to the Non-Financial Reporting Directive (hereinafter, NFRD).

Based on the above, financial institutions must include in their non-financial information statement, a series of indicators related to sustainable economic activities according to the EU taxonomy.

The Taxonomy Regulation identifies six environmental objectives:

1. Climate change mitigation,

2. Climate change adaptation,

3. Sustainable use and protection of water and marine resources,

4. Transition to a circular economy,

5. Pollution prevention and control,

6. Protection and restoration of biodiversity and ecosystems.

Based on these objectives, the regulation has also developed technical criteria to assess whether an activity is environmentally sustainable.

The first step is to determine whether an activity falls within those detailed as eligible by the EU taxonomy, which are those that can potentially contribute to one or more of the environmental objectives. An economic activity, in order to be considered eligible, must be covered by the delegated acts that develop the European taxonomy, regardless of whether that economic activity does not meet any or all of the technical