BBVA best sustainable bank in Latin America
WASHINGTON: BBVA has been named the best sustainable finance bank of the year by international magazine LatinFinance. The publication recognized the bank's performance in the region, notably the experience, creativity, and drive demonstrated by its teams as they promote sustainable finance. LatinFinance held its '2019 Banks of the Year Awards' ceremony this weekend. Each year, the magazine recognizes the financial institutions in Latin America and the Caribbean that have demonstrated business excellence, for both consumer and wholesale banking.
BBVA is the first bank to be distinguished by LatinFinance as the best in sustainable finance, a new category created for this year's awards. The publication commends BBVA for its Pledge 2025, which outlines the bank's strategy to fight climate change and promote sustainable development. As part of this pledge, BBVA has committed to securing €100 billion by 2025 for green financing, sustainable infrastructure projects, social entrepreneurship, and financial inclusion. As of June 30, 2019, BBVA had secured €22 billion. BBVA is the first bank to be distinguished by LatinFinance as the best in sustainable finance
The publication lauded the bank for taking a leadership role in promoting and delivering sustainable finance solutions throughout Latin America. Included among these sustainable solutions are green and/or social bonds; sustainable, social, and green loans. In addition, the bank launched a sustainable transactional product framework, which is an industry-first solution that allows the bank to categorize its clients' short and medium-term transactional operations as green, social, and/or sustainable.