Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 244

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 244
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 the effects of the economic transformation posed by our collective decarbonization efforts or the destruction of natural capital. Banks can play a key role in the development of inclusive growth through ‘bankarization’ of the population and financial literacy, and develop inclusive infrastructure (such as health care, education and communications).

#### Environmental
The effects of climate change go beyond the economic sphere and require all actors in society to adapt and act together. The environmental dimension of sustainability is of great importance to BBVA. To effectively address environmental challenges, it is essential to also consider natural capital.

Through its products and services, BBVA plays an important role in the transition of its clients.

#### Social
Companies are fundamental actors in the development and progress of societies. From this perspective, BBVA promotes economic growth that not only respects the planet's limits but also provides opportunities for the most vulnerable segments.

BBVA contributes to this inclusive growth primarily through its business. BBVA promotes inclusive and responsible practices among its employees and clients, in addition to other philanthropic activities carried out by the Group's entities and its foundations.

#### Governance
Companies must carry out their activities in strict compliance with current legislation, responsibly and in accordance with strict ethical behavior standards.

BBVA understands the governance dimension of sustainability as being related to business conduct, policies, and the regulatory and governance frameworks on sustainability.

#### 7.1.2. Regulatory framework
Implementing technical standards on ESG risk

On January 24, 2022, the European Banking Authority published its final draft implementing technical standards (“ITS”), amending the CRR on Pillar 3 disclosures relating to environmental, social and governance (“ESG”) risks.

These ITS were subsequently incorporated into the body of European Union law in the Commission Implementing Regulation (EU) 2022/2453 of 30 November 2022 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/637 as regards disclosure of information on environmental, social and governance risks.

Spanish Law 7/2021 on climate change

In accordance with the provisions of Law 7/2021 of May 20, on climate change and energy transition (Law 7/2021), an annual report must be submitted in which an assessment is made of the financial impact on society of the risks associated with climate change generated by the exposure to it of its activity, including the risks of the transition towards a sustainable economy and the measures adopted to address said risks. Likewise, under the aforementioned Law, specific decarbonization targets for