There is nothing wrong with a bit of healthy competition, especially when it inspires and drives companies to be more sustainable.
Companies like BBVA (Banco Bilbao Vizcaya Argentaria), the global financial services group with a leadership position in Spain, that’s just been named Europe’s most sustainable bank for the fourth consecutive year in the 2023 Dow Jones Sustainability Index (DJSI), and the second highest worldwide.
Founded in 1857 and present in more than 25 countries, BBVA has revenues of €24.89 billion.
While being the most sustainable in Europe is clearly a considerable achievement, BBVA may be disappointed with ‘only’ getting second globally.
That’s because the Madrid-headquartered bank did achieve that premier position in 2022, but only after a recount called by the bank itself. Who knew the banking industry could be so blockbuster?
In the 2021 DJSI, both BBVA and South Korea’s KB Financial Group were tied for top global spot in the banking category. BBVA had scored 88 points but that was increased to 89 after rating agency S&P Global re-evaluated the fiscal strategy section.
While suggesting this is a Hollywood hit in the making is a stretch, the fact that companies like BBVA care so much about their score just underlines how important rankings like the DJSI are when it comes to recognising the efforts that go into sustainability initiatives.
“To be recognised as the most sustainable bank in Europe for four years in a row by the leading global sustainability index is a milestone for us,” said Javier Rodríguez Soler, Global Head of Sustainability and Corporate & Investment Banking (CIB) at BBVA.
“At BBVA, our aim is to support our clients in their transition to sustainability, while encouraging inclusive growth in our host societies. We have a key role to play as intermediaries on this journey toward a green and just transition. We are not the central players, but our role is still decisive in supporting the entire economy in its decarbonisation.”
Even being included in the DJSI is an achievement, with more than 13,000 companies this year invited to take part in the S&P Global Corporate Sustainability Assessment – a questionnaire of more than 100 environmental, social and governance issues. Only the top 10% of companies in each sector then qualify for the DJSI.
This year, BBVA scored 84 points out of a possible 100, including perfect scores for transparency and reporting, tax strategy, human rights, and customer relations. That put the bank only marginally behind Taiwan’s E.SUN Financial Holding Company on 85 points.
