CRR
STRATEGIC
PLAN
In May 2008, the board of
directors approved the CRR
Strategic Plan whose mission
is to define how corporate
responsibility is the lever for differentiating BBVA
before all its stakeholders, thereby reinforcing the
Group’s reputation and positioning.
The CRR Strategic plan will also serve the
following purposes:
• Constitute a driving force for innovation and
transformation in the Group, helping to achieve
the strategic goals set forth in the Strategic plan
for Innovation and Transformation.
• Provide the finest response to the new
competitive context in which social,
environmental and reputational issues are
generating new risks and opportunities.
• Engage all Group areas for the progressive
development of CRR in the business.
The plan has been drawn up considering two
basic criteria. Firstly, it has been important to
define the prime focus of action. Although an
institution such as BBVA should provide the best
possible response to the expectations held by all its
stakeholders, efforts also need to be marshalled to
exploit synergies and achieve a greater and better
impact. Secondly, a “glocal” approach has been
adopted. It is just as important to have a global
framework to guide the entire Group as it is to
ensure that the actions are undertaken in all the
communities in which BBVA is present and that
they adapt to each one’s idiosyncrasies.
The CRR committee has overseen the entire
process of drawing up the plan, which has
involved more than 70 senior executives from all
the Group’s business and support units.
The plan lays down the lines of work in CRR
matters that the Group is to continue developing.
They are all arranged by relevant topic as in this
report.
A twin-pronged approach has been selected
for prioritising efforts:
• Education, also including financial literacy.
• Financial inclusion/accessibility.
These two priorities are clearly consistent with
BBVA’s vision, corporate principles and
positioning.
Education helps people to integrate and it is a
traditional line of work at BBVA. Financial literacy
is a commitment with a high social value in that it
seeks to promote informed decision-making
amongst customers and non-customers alike.
An informed decision is a way of enhancing
one’s personal financial situation, improving risk
management for financial institutions, encouraging
saving and strengthening the overall financial
system. An informed decision leads to more
responsible borrowing and to more consistent
saving. (For more information, see the chapter
“Community Involvement”).
Financial inclusion is another priority that
BBVA has been focusing on for some time with a
view to providing new segments of the population
with access to financial services. (For more
information, see the chapter “Financial
Inclusion”).
CORPORATE
GOVERNANCE
SYSTEM
The principles and elements
comprising the BBVA’s
Corporate Governance
System are set forth in its
Board Regulations, which govern the internal
procedures and the operation of the board and
its committees and directors’ rights and duties
as described in their charter.
The system is explained in full in BBVA’s
Annual Report 2008 (which contains a detailed
chapter on this matter) and on the corporate
website (www.bbva.com), which includes the
Corporate Governance Report, as per legal
requirements. The website has a special section
with direct access that features all the information
deemed to be of relevance to the topic.
COMPLIANCE
SYSTEM AND
PROCEDURES
Together with the Corporate
Governance System, the
Group’s Compliance System
constitutes the cornerstone
upon which BBVA consolidates its institutional
pledge to conduct all its operations and businesses
in accordance with strict codes of ethical conduct.
Over the course of this year, Compliance has
continued evolving as it seeks to adapt to new
circumstances, with its organisation being
embodied in the Compliance Charter, which lays
down its basic characteristics and duties at Group
level in the development of the principles already
contained in the BBVA Group’s Code of Conduct.
In line with the principles set forth by the Bank
for International Settlements (BIS) and the EU’s
CR PRINCIPLES AND POLICY
Corporate Responsibility Report 2008
11
To view a Ceros magazine you need to have JavaScript enabled in your browser and have the flash player 8 or higher installed. To install the latest flash player, click the icon above, install the flash plugin and then click here to refresh this page.