• Significant issues: in 2007, a qualitative survey
was done with our stakeholders in the main
countries of operation, the results of which
made it possible to identify such issues. In 2009
a specific analysis was carried out in order to
assess the validity and relevance of these issues
in light of the current crisis.
• Start-up of a qualitative survey on a sample of
individuals from our stakeholders in the United
States, employing the same methodology used
in the Group.
This collection of listening systems, research
methods and channels provides an objective
diagnosis and rigorous periodic follow-up of the
expectations deemed to be of greatest significance
to stakeholders. Their inclusion in indicators and
scorecards allows us to set improvement objectives
and progress indicators for the Group.
REPORTING TO
STAKEHOLDERS
Building up trust and a good
reputation requires a clear
understanding of
communication as a necessary tool for displaying
the value of our responsible performance. The
legitimate purpose of communication is to offer the
best, and thoroughly transparent, information to
our stakeholders, in order to build our credibility
through differentiation, win over their trust and
thus sway their perceptions and behaviours in a
favourable way towards the Group.
We must communicate
more effectively in order
to capitalise on the
“positive reality”
Communication
Good
Bad
Risk
Bad Good
Reality
Opportunity
We must improve “reality”
while mitigating the risk
of communicating
without doing
Doing things well, along with communicating
such achievements, are essential requirements for
this process.
The Group’s communication processes bring
together all types of internal as well as external
communication channels in order to reach our
stakeholders.
The annual Corporate Responsibility Report
is one of our main instruments of communication;
by applying standards, verification methods,
certification and assurance, we back up the truth
and relevance of the information.
RELEVANT
ISSUES WITHIN
TODAY’S CRISIS
SCENARIO
BBVA’s corporate
responsibility policy is
pursued on the basis of a
group of relevant issues.
These issues arise out of the
engagement process BBVA carries out with its
stakeholders, taking their vision, principles and
business strategies into consideration.
The issues BBVA regards as relevant have been
identified through various surveying processes
carried out from 2006 to 2008. They are currently
the following:
1. Customer focus
2. Financial inclusion
3. Responsible finance
4. Offering responsible products and services
5. Responsible management of human resources
6. Responsible procurement
7. Environmental management and climate
change
8. Community involvement
Given the international financial and economic
downturn, 2008 offered an opportune moment in
which to review and update our list of key issues.
This involved an analysis of all the information
compiled with the tools described above, in order
to integrate stakeholder expectations into
management. Areas participating in the event
included Corporate Reputation and Responsibility,
Consumer Insight and the Global Trends section of
the Research Department.
At first glance, the results that this analysis
brought to the surface had significant implications
for corporate responsibility principles and policies.
The results also reaffirmed the relevant issues that
had constituted the basis for the Group Corporate
Responsibility Report for 2007, as well as the
STAKEHOLDER ENGAGEMENT
Corporate Responsibility Report 2008
17
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