Spanish banking group BBVA has reached €560m ($630m) in total committed investments across funds specialising in decarbonisation, accelerating its strategy to finance the transition to a low-carbon global economy.
The bank now invests in 11 climate funds managed by leading international asset managers. A recent €15m ($17m) investment in an EQT fund—focused on scaling resource-efficient and circular economy businesses—brought the total portfolio to its current milestone.
Over the past two years, BBVA has quadrupled its capital deployment into decarbonisation funds, transitioning from an initial exploratory phase to targeting mature, scalable platforms.
Major commitments include a €220m ($250m) strategic partnership with climate investment vehicle Alterra in early 2026, alongside €175m ($200m) committed to KKR in September 2024. The bank’s portfolio also features allocations to specialized vehicles managed by Apollo Global (€18m in 2025), TPG Rise Climate II (€22m in 2024), NIO Capital (€9m in 2025), Lowercarbon (€40m), Decarbonization Partners (€22m), Just Climate (€18m), Hy24 (€10m), Fifth Wall Climate (€9m), and Suma Capital (€4m).
Highlighting the strategic importance of the vehicle, Javier Rodríguez Soler, Global Head of Sustainability and CIB at BBVA, stated that the energy transition required mobilising large volumes of capital and working alongside the leading investors driving the transformation. He noted that their climate fund investment strategy allowed them to identify opportunities early, expand their capacity to finance decarbonisation projects, and strengthen their role as a leading financial partner in the transition to a low-carbon economy.
Sustainability remains a primary growth driver for the institution. BBVA channelled €134bn into sustainable business during 2025—a 44 per cent year-on-year increase. Building on this momentum, the bank mobilised €82bn in the second quarter of 2026, bringing total allocations to €216bn towards its broader target of €700bn between 2025 and 2029. Additionally, the bank confirmed its participation as Global Banking Partner for the United Nations Climate Change Conference (COP31), scheduled for November in Antalya, Türkiye.
