Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 269

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 269
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 calculation of the distance may differ from the data published by the scenarios. The PACTA methodology uses the above-mentioned scenarios as a reference for emissions reductions to comply with a 1.5 ºC scenario, but applies a different starting point. The starting point applied is the result of aggregating all the customers in the database used, taking this aggregation as the market reference. This database covers, according to data from the external provider, 87% of Power generation sector assets, 96% of Automotive sector assets, 91% of Steel sector assets and 73% of Cement sector assets, as well as information on more than 47,000 airplanes. This figure, however, does not differ significantly from the scenario and is more ambitious in most cases.

Integration into management and sectoral alignment plans

BBVA has defined a comprehensive decarbonization strategy that reflects its aim to contribute to the transition toward a low-carbon economy. To succeed in this task, it has developed a Transition Plan, following the recommendations of the TCFD and Glasgow Financial Alliance for Net Zero (GFANZ).

Along these lines, BBVA has integrated key aspects such as climate change mitigation and adaptation, decarbonization objectives, sectoral transition plans and the channeling of sustainable business into its strategy, governance model, policies and customer relations. These elements show the progress made by the Group along this path.

BBVA's strategy is based on the achievement of two objectives, each with its own actions and levers for achievement: (i) fostering new business through sustainability; and (ii) achieving net zero emissions by 2050.

In addition, in order to mitigate the direct environmental impacts generated by its activity, BBVA calculates its carbon footprint and for years has had a plan in place to reduce its own emissions with targets included in its Global Eco-efficiency Plan.

Each plan contemplates a detailed analysis of each sector, evaluating its role in the decarbonization of the economy, identifying the risks inherent to each one, defining strategies to respond to these risks, analyzing the current state of the portfolio and the situation with respect to the objective set by the BBVA Group for each sector. Business opportunities with existing and new customers are also identified, revealing the appetite for customers in each sector.

All this is reflected in the formulation of a sector-specific transition plan that sets out a commercial strategy for:

• Guiding selective growth by financing and supporting customers who are actively managing their transition to net-zero emissions by 2050.

• Monitoring progress in the alignment exercise