Sustainable finance

In 2018 Grupo BBVA published its 2025 Goal which consisted of mobilizing EUR 100,000 million in sustainable business between 2018 and 2025. Subsequently, in July 2021 it increased its target to EUR 200,000 million and in October 2022 it increased it again to EUR 300,000 million.

This objective extends to the geographies where the Group operates, including Mexico. As of December 31, 2023, BBVA México channeled³ more than Ps. 206 billion pesos, 29.27% more than in 2022.

³ For the purposes of the Group's 2025 Goal, channeling is considered as any mobilization of financial funds, on a cumulative basis, to activities or clients considered sustainable, mainly in accordance with existing regulations, internal standards inspired by existing regulations, market standards such as the Green Bond Principles, the Social Bond Principles and the Sustainability Linked Bond Principles of the International Capital Markets Association, and best market practices. For the determination of the amounts of sustainable business channeled, internal criteria are used based on both internal and external information, whether public, provided by the clients or by third parties (mainly data providers and independent experts). BBVA assumes no liability for the opinions expressed by third parties or for any errors or omissions in the information from external sources.

Sustainable mobilization 2023, BBVA México 2023

Retail banking

Sustainable mobilization, Retail banking, BBVA México 2023

Inclusive Growth

Financing for the acquisition of mortgages, hybrid and electric cars, SME loans, insurance (cars and mortgages), among others.

Climate change

Financing for the acquisition of mortgages, hybrid and electric cars, SME loans, insurance (cars and mortgages), among others.

Corporate and government banking

Sustainable mobilization, Corporate and Government Banking, BBVA México 2023

Climate change

Green financing for companies, letters of credit, factoring, leasing, among others.

Inclusive Growth

Financing for companies, letters of credit, factoring, leasing, among others, to promote inclusive growth.

Note: These are products the use of which is accounted for in the sustainable mobilization KPI provided it complies with the BBVA Standard for Financing Sustainable Activities.

Corporate and Investment Banking (CIB)

Sustainable mobilization, Green and social financing 2023

Climate change

Green financing

Inclusive Growth

Social financing

Client	Amount of issuance (millions of pesos)

América Móvil	$1,417
Banca Mifel	$1,500
Banco Compartamos	-
Bancomext	$3,464
CEMEX	$3,612
CFE	$2,289
Empresas CMPC (Grupo Matte)	$1,040
Fibra Danhos	$2,375
Fideicomiso Fibra Uno	$1,591
Grupo Aeroportuario del Pacífico	$1,710
Grupo Bimbo	$4,750
Inter American Development Bank (IDB)	-
Nafin	-
Orbia	$3,167
Secretaría de Hacienda y Crédito Público	$9,637
TOTAL	$36,552

Client	Amount of issuance (millions of pesos)

América Móvil	$1,417
Banca Mifel	-
Banco Compartamos	$1,000
Bancomext	$3,464
CEMEX	-
CFE	$2,211
Empresas CMPC (Grupo Matte)	$27
Fibra Danhos	$125
Fideicomiso Fibra Uno	$84
Grupo Aeroportuario del Pacífico	$90
Grupo Bimbo	$250
Inter American Development Bank (IDB)	$1,750
Nafin	$4,698
Orbia	$167
Secretaría de Hacienda y Crédito Público	$9,637
TOTAL	$24,918

Sustainable mobilization, 2023 Investment Banking, BBVA México 2023

Fund	Climate change	Inclusive growth	Total
Fondo ESG	$225,553	$225,553	$449,106
Fondo ETF	$75,675	$75,675	$149,350
TOTAL	$299,228	$299,228	$598,456

+113 billion pesos mobilized by Grupo BBVA in 2023 through CIB; 54.34% corresponds to its participation as underwriter of environmental and social bonds, and 45.66% to green and social financing.

Financing under Equator Principles

Since 2004, Grupo BBVA has adhered to the Equator Principles (hereinafter, EPs), which set out the standards for environmental and social risk management in project finance, based on the International Finance Corporation’s Policy and Performance Standards on Social and Environmental Sustainability and the World Bank’s General Guidelines on Environment, Health and Safety.

Reference standards and guidelines

BBVA Standard

In Grupo BBVA, sustainable financing involves directing financial resources towards activities or clients deemed sustainable based on specific criteria, as well as performance in certain KPIs related to ESG matters.

Framework for Grupo BBVA’s sustainable debt issuance

In April 2018, Grupo BBVA published its framework for issuing its own sustainable bonds, linked to the United Nations Sustainable Development Goals (SDGs).

Grupo BBVA’s environmental and social framework

Grupo BBVA approved in 2020 the Environmental and Social Framework for the mining, agribusiness, energy, infrastructure and defense sectors (hereinafter, Framework).

Principles for Responsible Banking (PRB)

BBVA México was one of the founding banks of the Principles for Responsible Banking promoted by the United Nations alliance with the financial sector (hereinafter, UNEP-FI).

Principles for Responsible Investment (PRI)

In 2005, the United Nations, with the support of leading asset managers, established an initiative comprised of six voluntary and aspirational Principles for Responsible Investment, which go beyond the traditional analysis of financial factors and encourage the incorporation of ESG issues in investment decision-making.

Currently, Grupo Financiero BBVA México, through BBVA Pensiones México, is accompanied by BBVA Asset Management, in order to comply with the requirements of the initiative.