BBVA channelled approximately €29 billion ($32.8 billion) into sustainable business initiatives during the first quarter of 2025, representing a 55% increase compared to the same period in 2024. The figure marks the beginning of the bank’s new commitment to mobilise €700 billion ($792 billion) in sustainable finance between 2025 and 2029—more than double its previous €300 billion ($339 billion) target, which had been set for 2018 to 2025 and reached a year ahead of schedule in December 2024.
The bank’s new goal reflects both a substantial scale-up in ambition and a compressed timeline, underscoring BBVA’s intention to accelerate its sustainability agenda.
According to BBVA, 78% of the Q1 funding was allocated to climate change and natural capital-related activities, such as sustainable agriculture, circular economy initiatives, and efficient water use. The remaining 22% supported projects in social infrastructure, healthcare, education, entrepreneurship, and financial inclusion.
The Corporate & Institutional Banking (CIB) division led the mobilisation effort, channelling €15.2 billion—an increase of 49% year-on-year. Its focus areas included renewable energy project finance, which accounted for approximately €600 million, and sustainability-linked financial instruments.
The Companies unit contributed €10.8 billion, up 58% year-on-year. This included funding for energy efficiency improvements, fleet renewals, and water management, with €1 billion specifically targeting natural capital projects. Roughly half of this sum was allocated to initiatives in Mexico, particularly within the agricultural sector.
BBVA’s Retail Business division mobilised €2.8 billion, marking an 85% annual increase. The funds were directed largely at residential energy efficiency and sustainable transport solutions, including financing for hybrid and electric vehicles.
Commenting on the bank’s strategic direction, Javier Rodríguez Soler, Global Head of Sustainability and CIB, said: “BBVA was one of the first companies to recognise the positive impact of sustainability on the financial industry. It represents a business opportunity and is one of our strategic priorities. We aim to turn it into a key growth driver by funding investments to meet the growing demand for clean and efficient energy.”
To support transparency and stakeholder engagement, BBVA has also released two key publications. The Sustainable Business Channeling Guide outlines the criteria for determining and measuring sustainable finance activities and has been independently verified. Additionally, the ESG Data Pack—an Excel-based report—offers accessible non-financial data from 2024, as included in the Group’s Non-Financial Information Statement.
