Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 273

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 273
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 selection criteria set out in those delegated acts and ultimately cannot be classified as environmentally sustainable.

Subsequently, once eligibility has been determined, it is necessary to check whether the activity is aligned with the EU taxonomy by verifying that the following technical selection criteria are met:

– The activity contributes substantially to one or more of the six environmental objectives.

– The activity does not cause significant harm to any of the other environmental objectives (Do No Significant Harm).

– The activity is carried out in accordance with human rights and Minimum Social Safeguards (MSS). OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights, including the principles and rights set out in the eight core conventions referred to in the International Labour Organization Declaration on Fundamental Principles and Rights at Work and the International Bill of Human Rights.

The disclosure obligations based on the EU taxonomy and the technical screening criteria have been specified in successive regulatory developments and in communications on the interpretation and application of the EU taxonomy delegated acts.. These obligations establish a progressive schedule for the disclosure of information. In this context, as of December 31, 2024, the disclosure obligations for financial institutions are as follows:

– Economic activities aligned to the environmental objectives of climate change mitigation and adaptation.

– Specific breakdowns on the alignment of some activities related to Nuclear Energy and Gas.

– Eligible economic activities in relation to environmental objectives: sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, and protection and recovery of biodiversity and ecosystems.

It should be noted that if an economic activity does not fall within the framework of the EU taxonomy or does not meet all of its requirements, it does not necessarily mean that it is harmful or has a negative impact on the environment; rather that it does not meet all the conditions for inclusion in this classification.

Economic activities aligned to the environmental objectives of Climate Change Mitigation and Adaptation

The economic activities of credit institutions are mainly reflected in the different products and services they offer to clients, as well as in the investments they make to manage their assets and liquidity. These activities are considered to be aligned with the EU taxonomy to the extent that the activities performed by certain counterparts of such products or investments provided for in the regulations are aligned.

| PILLAR 3 2024 |     | 7. PRUDENTIAL DISCLOSURES ON ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS |     | P.275 |

In order to identify the sustainable business, it is necessary to consider whether the financing