Responsible procurement

The principles of BBVA’s relations with its suppliers are governed by the Group’s Code of Conduct and based on respect for the law, commitment to integrity, competition, objectiveness, transparency, value creation and confidentiality.

The need for good management of the ESG variables in the procurement process has led to the design of two projects, both forming part of the development of the Group’s Global Procurement Model. One is the preparation of a Global Responsible Purchasing Policy for the Group, which will be implemented over 2011; and the other, a new procedure for registration and pre-approval of suppliers, which will enable all the Group’s Purchasing units to apply criteria on a standardized basis to improve management of these impacts and lead to increased satisfaction levels among BBVA’s suppliers.