REPORT
CRITERIA
PROFILE, BBVA has been drawing
SCOPE, up annual corporate
RELEVANCE, responsibility reports since
MATERIALITY 2002. The present report
AND COVERAGE
includes information for
BASIC REFE-
OF THE REPORT RENCES AND
the entire BBVA Group, as
INTERNATIONAL
defined in the Annual Report for 2008, including
STANDARDS
comparative data for 2006 and 2007 with an
indication of their scope. If these data have
changed in any way in comparison to those
provided in prior years, this is due to
improvements in the methods for quantifying
and measuring the variables affected or in the
criteria used. The salient points in this year’s
report are the following:
• The relevant issues have been rearranged
in line with the current economic and financial
context;
• The information in each chapter is
supplemented with additional information
on the CRR website, which also features
illustrative videos intended to provide a more
direct channel of communication with
stakeholders;
• The scope of information has been extended
to include data from BBVA Compass (USA)
wherever possible. The data on Puerto Rico for
2008 are again presented under Latin America.
When deciding upon the relevance and
materiality of the content to be included, special
attention has been paid to the opinions of leading
stakeholders, extending the engagement process
RIGOUR AND
in line with the recommendations of the
VERIFICATION
Sustainability Reporting Guidelines (version 3,
2006) of the Global Reporting Initiative (GRI)
and the new AA 1000 APS (2008) AccountAbility
Principles Standard and the AA 1000 AS (2008)
Assurance Standard. Along these lines, a specific
analysis has been drawn up based on public
information and information available within the
Group to assess the validity and relevance of these
matters in the context of the present crisis.
This report is supplemented by the Financial
Report 2008, and by the information on the
website (www.bbva.com).
In drawing up this report,
the most widely recognized
international standards and
best practices have been
followed, including the
principles and requirements of the Global Reporting
Initiative (GRI G3), taking into account both core
and financial sector indicators. GRI has rated
BBVA as “in accordance” since 2003, and as A+
since 2006. The report also complies with the new
AA1000 standard for reporting on the
implementation of principles:
• Inclusivity: the participation of stakeholders
in developing and achieving an accountable
and strategic response to sustainability.
• Relevance: determination of what topics are
relevant to BBVA and its stakeholders, aligned
with decision-making processes and
organisation strategy.
• Responsiveness: how BBVA responds to
relevant issues raised by stakeholders.
Also reported are BBVA’s actions in regard to the
United Nations Millennium Development Goals and
its response to the Progress Report 2008 as regards
compliance with the principles of the UN Global
Compact, following the guidelines of the GRI and
the Global Compact in “Making the connections.”
BBVA has areas for
systematising and managing
information to provide a
sound source of content. These areas are reviewed,
verified and audited (internally and externally).
A plan of action is then drawn up to ensure that
the recommendations arising from review
processes are implemented.
The wording of the Spanish version of this
report has been checked by Fundación Español
Urgente (www.fundeu.es).
REPORT CRITERIA
Corporate Responsibility Report 2008
75
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