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BBVA in 2012

Corporate responsibility (CR) principles, policies and governance

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BBVA works for a better future for people following the principles of integrity, prudence and transparency

The mission of BBVA’s corporate responsibility policy is to define and promote behavior that generates value for all its stakeholders (customers, employees, shareholders, suppliers and the community).

The Group’s CR commitments are aligned with our vision of “Working for a better future for people”, based on rigorous principles of integrity, prudence and transparency. The most important of these commitments are:

  • Uphold excellence at all times in its core business operations.
  • Maximize the positive impacts of the business in the community, while minimizing any possible negative impacts.
  • Create “social business opportunities” to generate social and economic value for BBVA.
  • Invest in the communities where the Group operates through support to various initiatives, particularly in the field of education.

In BBVA CR functions are supervised and promoted by the Bank’s highest executive body. In 2012 the Responsible Business Committee was created to assist it

With respect to organization, there was a major landmark in 2011 in the system of governance of corporate responsibility: the Group’s Management Committee itself became the main body supervising and promoting the functions of corporate responsibility and reputation (CRR). In other words, the Bank’s highest executive body was entrusted with responsibility for these issues.

Since late 2012 the Responsible Business Committee has assisted the Management Committee in this task. This committee plans to meet three times a year. It is made up of the Chairman and CEO, the President and COO; and the heads of the Bank’s two global lines of business (Retail Banking and Corporate & Investment Banking) and Brand & Communication, Human Resources and Services, Legal Services, Audit and Compliance, and Corporate Responsibility and Reputation (which functions as secretary).

As a result of these changes, the system of governance of CRR is now organized as follows:

  • Board of Directors: responsible for approving and monitoring corporate responsibility policy.
  • Management Committee, supported by the Responsible Business Committee: with the main role of promoting, supervising and coordinating the Group’s CRR programs and those developed by local banks and their foundations.
  • Local and business area management committees: responsible for promoting and monitoring CRR programs at a local or business area level. These committees are chaired by the country manager or manager of the business area in question (some of the Group’s banks, such as BBVA Bancomer in Mexico and BBVA Provincial in Venezuela, have decided to keep the previous system of local CRR committees).
  • Across-the-board operational committees: responsible for implementing and executing the CRR programs. These committees, whose secretariat corresponds to the Corporate Responsibility and Reputation department, were created in 2011 and have been operational since 2012. They are as follows:
    • The Social, Environmental and Reputational Risk Committee, chaired by the Group’s Risk Manager.
    • The Eco-efficiency and Responsible Procurement Committee, chaired by the Group’s Procurements, Premises and Services Manager.
    • The ESG Investment Committee, chaired by the Analyst, Investor and Shareholder Relations Manager.
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