RESPONSIBLE PRODUCTS AND SERVICES
Corporate Responsibility Report 2008
36
RESPONSIBLE PRODUCTS
AND SERVICES
SOCIAL AND ENVIRONMENTAL CONSIDERATIONS GENERATE A
WORLD OF NEW NEEDS AND OPPORTUNITIES. BBVA HAS PLAYED
A KEY ROLE IN 2008 AS A CATALYST FOR SOCIALLY RESPONSIBLE
INVESTMENT.
1 st
Pension fund manager
in Latin America
and Spain
SOCIALLY
RESPONSIBLE
INVESTMENT
(SRI)
At BBVA, Socially
Responsible Investment (SRI)
is understood as that which
adds ethical, social and
environmental criteria to the
analysis of profitability and risk, with the aim of
selecting the best long-term sustainable
performance for investment.
Due to the turmoil in the financial sector,
volume and member figures were not positive –
a trend affecting the entire mutual fund industry.
Nevertheless, the results for SRI in 2008
showed substantial advances among institutional
Support for SMEs: BBVA and the Inter-American
Investment Corporation (IIC)
163.18
(million euros)
Volume of credit financed
through Ayuda Vivienda
(Home Loans)
BBVA signed a collaboration and assistance agreement with the IIC in 2008.
The mission of the IIC is to contribute to the economic and social
development process of member countries in Latin America and the
Caribbean. Priorities for both entities include easing access to financial
services as well as promoting energy efficiency, new technologies and SME
incorporation. Some noteworthy initiatives include the “Energy efficiency
and renewable energy” programs, along with the “Generic technical
assistance” programme.
1,900
(million euros)
BBVA Staff Retirement
Plan volume (fully
managed according
to SRI criteria)
investors. The following are BBVA’s major
achievements in this area:
• BBVA now manages the Group’s entire staff
retirement plan in Spain using SRI criteria.
BBVA commenced to manage its employees’
pension fund, with assets of approximately
€1,900m and over 41,100 holders, entirely
according to sustainability criteria. This
achievement was attained through intense
negotiations between the unions in the BBVA
Fondo de Empleo (BBVA Staff Retirement Plan)
Control Committee, beneficiary representatives
and the Pension Fund Manager.
1 million
Tonnes of CO2 traded
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