Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 295

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 295
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 granting a mortgage prior to the underwriting of risks. The score, or letter, obtained will therefore affect the terms and conditions of the mortgage and thus promote the decarbonization of the real estate stock, which accounts for 40% of final energy consumption in the European Union and 36% of its greenhouse gas emissions.

In addition, several initiatives have been launched in Spain to finance improvements in the energy efficiency of buildings, both for individuals and communities of owners. A project has also been launched to periodically capture actual data on energy efficiency certificates from official sources, allowing for updated information that could change after origination and to complete information on older loan guarantees, with the first download taking place in January 2025.

In Turkey, energy certificates have been obtained from property appraisal documents existing in the country since 2017. The mortgage loan contracting process automatically collects label and consumption information. For the stock, an internal model has been developed that allows estimates of energy consumption.

In Mexico there are two ongoing projects to obtain energy efficiency information. First, the modification of the mortgage loan arrangement process to automatically collect information on new operations, and second, a model for the estimated allocation of EPCs for the mortgage stock. Moreover, a model has been implemented to estimate the energy efficiency certificates associated with new loan origination. All of this makes it possible to have information on energy consumption (kWh/m 2 /year) and emissions (KgCO 2 /m 2 /year), which has resulted in a significant increase in the availability of energy efficiency data in properties outside the EU.

A similar initiative has been implemented in Peru 32 , making it possible to manage the gathering of emissions indicators (kgCO 2 /m 2 /year) and, based on this information, to generate consumption metrics (kWh/m 2 /year) by applying the country’s energy mix.

32 In Colombia, results are expected to be produced using the same tool as in Peru during the next financial year.

| PILLAR 3 2024 |     | 7. PRUDENTIAL DISCLOSURES ON ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS |     | P.299 |

BBVA is actively working to identify key local factors to determine the degree of sustainability of the properties. Some of these factors are associated with the water resources required or waste management, since the energy efficiency of buildings is of different significance depending on the climate of the countries in which they operate.

In addition, operational transition risk has been incorporated into the