BBVA in 2012

CR management system and strategic focus

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In 2012 progress has continued to be made on initiatives based on the four pillars elements of our policy:

Financial literacy makes for dependable savers and more responsible debtors

1. Financial literacy

Informed decision-making helps people improve their personal financial situation, makes risk management easier for financial institutions, encourages saving and strengthens the financial system as a whole. For BBVA, financial literacy means more consistent savers and more responsible debtors. This commitment is activated through the Global Financial Literacy Plan “El dinero en nuestras vidas” (Money in our lives). The main programs in this plan are “Adelante con tu Futuro” (Forward with your future) in Mexico and South America and “Valores de Futuro” (Future values) in Spain and Portugal.

The financial inclusion facilitates access to financial services

2. Financial inclusion

The fight against financial exclusion is for BBVA an objective that is in keeping with its business targets and ethical and social commitment. The star project in this core element is the BBVA Microfinance Foundation. The Foundation works to provide access to financial services for the most disadvantaged members of society so that they can undertake sustainable productive activities that allow them to improve their own standard of living and that of their families and to promote their economic and social development.

In BBVA, responsible business development is one of the critical and main aims in the CR policy

3. Responsible banking

BBVA works to integrate responsible management across the value chain, from product design, advertising and sales to management of risks. This element includes programs that help integrate this aspect of sustainability into the Group’s day-to-day activities.

4. Community involvement

This commitment is focused on supporting education, social enterprise, research and culture. The main lines of activity are the “Community Investment Plan for Latin America”, the “Momentum Project” and the program of BBVA Foundation activities.

BBVA is committed to the development of the communities in which it operates

Over recent years, and particularly in 2012, the social legitimacy of financial activity has been eroded on a large scale. This is a global loss that is permanent in nature, and is combined with a growing demand for accountability. This has been the major motivation behind BBVA’s work in 2012 on its new CRR Strategic Plan 2013-2015, also known as the Responsible Business Plan. This new plan aims to integrate the impact made by our financial activity on the life of people into the Group’s key decision-making processes, with the aim of making a difference and putting people at the core of the Group’s activity.

The Responsible Business Plan 2013-2015 will be published in the first half of 2013

The main objectives proposed for this plan are:

  • Promote a cultural change with people at the core.
  • Improve external and internal reputation.
  • Increase customer satisfaction.
  • Extend the generation of shared value in communities where we are present.

The Responsible Business Plan 2013-2015 will be published in the first half of 2013.

BBVA maintains its commitment to the main international agreements on corporate responsibility and sustainability

BBVA also maintains its commitment to the main international agreements on corporate responsibility and sustainability, such as the United Nations Global Compact and the Millennium Development Goals, the UN Environment Programme Finance Initiative (UNEP FI), the Equator Principles, the UN Principles for Responsible Investment (PRI) and the Carbon Disclosure Project. At the same time, the Group publicly recognizes its respect for the United Nations Declaration on Human Rights, the basic labor standards of the International Labour Organization and the OECD guidelines for multinational companies. It is also aligned with the corporate social responsibility policy published in 2011 by the European Commission.

BBVA continues to participate actively in the International Integrated Reporting Council (IIRC), within the framework of the IIRC Pilot Program. It therefore plays a key role in the implementation of a global and common framework for integrated corporate reporting.

For the first time in 2012 BBVA became part of the Thun Group, a financial sector initiative that brings together the following institutions: Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, ING, ROBS, UBS, Unicredit and WestLB, with the support of the Competence Center for Human Rights of the University of Zurich. The group aims to contribute toward implementing guiding principles on business and human rights in the financial sector. The result of this working group has been an initial draft of a practical document that is a guide for focusing and implementing these principles in the financial sector. Currently the relevant UN agencies, organizations and stakeholders in general are being asked for their contributions for integration into the final document. It will be published in 2013.

Lastly, also worth noting is BBVA’s presence in 2012 at the Rio+20 Summit, the United Nations conference on sustainable development. The summit was held 20 years on from the first in Rio de Janeiro in 1992. It provided another opportunity to renew the global political commitment to sustainable development and act to eradicate poverty and environmental destruction, while constructing a bridge toward the future and analyzing the progress made in sustainable development.

For more information on local initiatives in each of the core corporate responsibility policy areas, see the website www.bancaparatodos.com/en/.