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24/9/2019 Principles, policies and stakeholders | bancaresponsable
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Principles, policies and stakeholdersInformation on Corporate Responsibility 2012
BBVA has a clearly distinctive banking model based on its Return Adjusted to Principles strategy. This
strategy is difficult to replicate in the short term and is based on unwavering principles of integrity,
prudence and transparency.
BBVA firmly believes that putting principles first in managing the Group’s governance is in itself a source
of competitive advantage. One of the values that has become of greatest importance at the present
time is being a reliable bank; in other words, a bank that customers, shareholders, employees and
citizens can trust. Not only because it meets the targets it sets itself, but also because of the way it does
so: by respecting regulations, principles and, above all, people.
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24/9/2019 Letter from the Chairman | bancaresponsable
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Letter from the Chairman
Dear friend:
2012 was marked once again by diverging forces behind the global economy’s growth. The emerging
markets where BBVA operates posted strong growth, 6.5% overall, while the U.S. economy expanded
2.2% and GDP in Europe declined by 0.5%.
2012 has been an extremely difficult year due to the crisis in Europe and, particularly, in Spain.
However, major progress has been made.
In Europe, those who one year ago predicted the end of the euro have been proven wrong. They
underestimated the political will and the huge economic capacity of the European Union. Now we need
to continue moving toward a greater economic and monetary union, and this can only be achieved
through further integration.
In Spain, the intense adjustment and reform process undertaken is beginning to bear fruit. A turn for
the better can be seen in the perception of our economy, which represents a window of opportunity. If
Spain takes advantage of this opportunity, there could soon be an upward revision of our economy’s
growth prospects.
But there is still a long way to go. Unemployment is Spain’s main drama. There are businesses and
sectors that are already creating jobs, although not in a sufficient number to absorb the employment
that is still being destroyed in the construction, financial and public administration sectors.
We must all join forces to reverse this situation. This is precisely what we are doing at BBVA, creating
net employment in Spain during the 2010-2012 period and promoting programs as important as “Yo
soy Empleo” (I’m Employment), a comprehensive plan to promote the creation of 10,000 new jobs in
small and medium-sized enterprises and with the self-employed, which includes training initiatives and
an employment intermediation service.
Major progress has also been made in the Spanish financial sector in 2012. The banks that created the
problem in the first place have already been taken into government administration. Now, once they
have been recapitalized, they need to be privatized as soon as possible.
Bad practices by some institutions have caused considerable damage to the sector’s image. But this
crisis has also shown that not all banks are the same, and that BBVA’s principles of integrity,
transparency and prudence set us apart and are a source of value for the societies where we operate.
Throughout the crisis, BBVA has cost the State zero euros, and we have continued to grow, paying taxes
and dividends, creating jobs and investing in social projects.
BBVA’s earnings in 2012 show that our model, based on balanced diversification and differential
management, works.
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Gross income, i.e. the Group’s revenue, grew 12.1% in 2012, exceeding that of our peer group. 56% of
the revenue was generated in emerging markets and 44% in developed economies. Looking toward the
future, we are in a unique position as a result of our presence in regions that are leading global growth,
such as Mexico, Turkey, South America and China.
As for expenses, as we have always done, we are prudent in their management, adapting their growth
to the needs in each market. In 2012 they rose 10.8%, less than the 12.1% increase in revenue. Of this
increase, 2.8% is related to the change in the perimeter, basically owing to the consolidation of Unnim,
3.0% to the exchange-rate effect, and 5.1% to growth in emerging markets, due to our investment and
expansion plans. In contrast, in the more developed markets, expenses have been contained and fell by
0.1%.
As a result of the increase in revenue and proper cost control, BBVA maintains a position of leadership
in efficiency, with a 48.1% ratio as of 31-Dec-2012, and generated very significant operating income of
€11,655m, which is up 13.3% on 2011.
This operating income has enabled us to absorb in full the significant loan-loss and real-estate
provisions for 2012, which amounted to €9,518m, without having to sell strategic assets, resort to one-
off items or change our business strategy.
Thus, in 2012 the Group generated a net attributable profit of €1,676m in a very difficult environment.
This figure highlights that BBVA has a well-balanced business model, with a high capacity for generating
recurring revenue and future growth potential.
As regards to risks, they are under control and well hedged. As of December 31, 2012, the Group’s NPA
ratio stood at 5.1% and the coverage ratio was up 11 percentage points during the year to 72%, which
compares very favorably with our peers.
Liquidity has been no problem for BBVA in 2012, despite the moments of tension seen in the markets.
We were able to issue nearly €14,000m and we reduced the liquidity gap by an additional €23,000m
on the euro balance sheet, improving even further its structure. In 2013 we were the first to tap the
market with several issues, one for 10-year covered bonds, the first one of its kind by a Spanish issuer
since 2007.
As for solvency, in 2012 we generated 45 basis points of capital, complying with the new requirements,
passing the stress tests, maintaining our dividend and without having to sell strategic assets.
In short, high-quality earnings, above our peer group, in a very difficult environment, and growing
revenue that enabled us to comfortably absorb the loan-loss provisions, generate earnings and capital,
and protect our dividends, while maintaining risks under control and improving our funding structure.
As you can see, very sound fundamentals which, combined with the improved prospects for Spain and
the easing of the uncertainties surrounding the euro, are driving a gradual upward revision of the BBVA
share-price targets.
All this is the result of a strategy based around three pillars, i.e. principles, people and innovation, on
which the Group has been building its competitive advantage for a long time.
As for our principles of integrity, prudence and transparency, they translate into very specific
commitments in terms of regulatory compliance, standards of conduct, responsible commercial
practices and effective corporate governance.
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People are the most important element because they determine how we carry out our business. At
BBVA, we work for a better future for people. In 2012 we have carried out many actions in the social,
scientific and cultural areas, including the “Integra Awards” and the “Frontiers of Knowledge Awards”,
programs like “Momentum Project”, the Microfinance Foundation and the financial literacy programs in
Latin America, the “Ruta Quetzal”, as well as other important initiatives, such as the aforementioned “Yo
soy Empleo”, which we are implementing in 2013 and will have a significant social impact.
Furthermore, those reassert our constant commitment to the United Nations Global Compact.
Innovation and technology are no doubt the key to the future of the financial sector. Technology is
transforming the world. Being competitive in this new environment requires a great deal of
transformation, combining the physical and digital worlds, transforming the distribution models and
generating new contents, products and services. To do so it is essential to have modern, integrated,
modular and flexible technological platforms in place. BBVA is one of the few banks that has embraced
this all-around concept. We have one of the most advanced technological banking platforms in the
world. It is already operating in Spain, and also in the United States.
Our principles, people and innovation, combined with a diversified business model and very sound
fundamentals in terms of capital, risks and capacity to generate earnings, place BBVA at the start of a
new profit growth cycle in 2013.
Lastly, I would like to thank the more than 115,000 BBVA employees for their effort, and I encourage
them to continue working with the same dedication and enthusiasm that have turned BBVA into a
different bank.
And to you, thank you very much once again for your support. I assure you that the Group will
continue to work hard to improve every day and build the best universal bank in the world.
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24/9/2019 CR principles, policies and governance | bancaresponsable
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CR principles, policies and governance
BBVA’s corporate responsibility policy aims to define and promote conduct that generates value for all
our stakeholders (customers, employees, shareholders, suppliers and the community).
Our commitments are aligned with the vision of “working towards a better future for people” and built
around the principles of integrity, prudence and transparency.
BBVA’s VisionBBVA’s Vision
The Group’s main commitments through its CR policy are as follows:
Uphold excellence at all times in its core business operations.
Increase the positive impact that its business has on society and minimize possible negative
impacts.
Create “social business opportunities” to generate social and economic value for BBVA.
Invest in those societies in which the Group is present through support for projects, especially those
involving education.
There was a major landmark in 2011 in the organization of the corporate responsibility governance
system: the Group’s Management Committee became the main body to supervise and promote
Corporate Responsibility and Reputation (CRR). In other words, BBVA’s highest executive body was
entrusted with responsibility for these issues. Since the end of 2012 the Responsible Business
Committee has assisted the Management Committee in this task. It is expected to meet three times a
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year and is made up of the Chairman and CEO, the President and COO; the heads of the Bank’s two
global business areas (Retail Banking and Corporate & Investment Banking); and the areas of Brand &
Communication, Human Resources and Services, Legal Services, Audit and Compliance, and Corporate
Responsibility and Reputation (which acts as Secretary). The committee’s main role is to promote,
supervise and coordinate the Group’s CRR programs and those developed by local banks and their
foundations.
As a result of these changes, the CRR governance system is now organized as follows:
Board of Directors: responsible for approving and monitoring corporate responsibility policy.
Group Management Committee, supported by the Responsible Business Committee: as mentioned,
its main role is to promote, supervise and coordinate the Group’s CRR programs and those
developed by local banks and their foundations.
Local and Business Area Management Committees: responsible for promoting and monitoring CRR
programs locally or in the specific business area. These committees will be chaired by the Country
Manager or Business Area Manager. Some of the Group’s banks (BBVA Bancomer in Mexico and
BBVA Provincial in Venezuela) have decided to keep the local CRR committees.
Cross-sector operating committees: these committees are responsible for implementing CRR
programs, with the Corporate Responsibility and Reputation Department acting as their Secretary.
The following operational committees were created in 2011 and began to operate in 2012:
Social, Environmental and Reputation Risk Committee, chaired by the
Group’s Risk Manager.
Eco-efficiency and Responsible Procurement Committee, chaired by the
Procurement, Premises and Services (CIS) Manager.
ESG Investment Committee, chaired by the Analyst, Investor and
Shareholder Relations Manager.
Organization of corporate responsibility proceduresOrganization of corporate responsibility procedures
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The following sessions and appearances took place in 2012:
An appearance before the Board of Directors and one before the Board’s Executive Committee
One Responsible Business Committeesession
14 appearances before the local Management Committees in Argentina, Chile, Colombia, Panama,
Paraguay, Peru, Spain and Portugal.
Two Eco-efficiency and Responsible Procurement Committee sessions and one ESG Investment
Committee session
Five business review sessions were also held with the Chairman and CEO and fifteenbusiness review
sessions with the COO.
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CR Management System and Strategic Focus
In 2012 progress continued to be made on initiatives based on the four pillars of our policy: financial
literacy, financial inclusion, responsible banking and community involvement.
The four pillars of CR policyThe four pillars of CR policy
Over recent years, and particularly in 2012, the social legitimacy of financial activity has been eroded
on a large scale. This is a global loss that is combined with a growing demand for accountability. This
has been our main motivation to work in 2012 on a new Corporate Responsibility and Reputation
Strategic Plan 2013-2015, also known as the Responsible Business Plan. This new plan aims to
integrate the impact made by our financial activity on people‘s lives, into the Group’s key decision-
making processes, in order to make a difference and put people at the heart of the Group’s activity
The main objectives proposed for this plan are:
1. Promote a cultural change that puts people at the core.
2. Improve external and internal reputation.
3. Increase customer satisfaction.
4. Extend the generation of shared value in communities where we are
present.
The Responsible Business Plan 2013-2015 will be published in the first half of 2013.
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In 2012, we kept up our commitment to the main international agreements on corporate responsibility
and sustainability, such as the United Nations Global Compact and the Millennium Development Goals,
the United Nations Environment Program Finance Initiative (UNEP FI), the Equator Principles, the UN
Principles for Responsible Investment (PRI) and the Carbon Disclosure Project. At the same time, the
Group publicly confirms its respect for the United Nations Declaration on Human Rights, the basic labor
standards of the International Labor Organization and the OECD guidelines for multinational companies.
It is also aligned with the Corporate Social Responsibility policy published in 2011 by the European
Commission.
In BBVA, we have also continued to participate actively in the International Integrated Reporting
Council (IIRC), within the framework of the IIRC Pilot Program. Therefore playing a key role in the
implementation of a global and common framework for integrated corporate reporting. Along these
lines, in 2012 BBVA and the Asociación Española de Contabilidad y Administración de Empresas (AECA)
organized information days to present the first findings of the Research Project on Integrated Reporting
undertaken with the other four Spanish companies that belong to the Pilot Program (Enagás, Inditex,
Indra and Telefónica). An initial view of this project can be found in this document: Integrated
Reporting. Integrated Indicators Table (CII-FESG) and its XBRL taxonomy.
In 2012, BBVA became a member of the Thun Group, a financial sector initiative that brings together
the following institutions: Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, ING, ROBS, UBS,
Unicredit and WestLB, with the support of the Competence Center for Human Rights of the University of
Zurich. The group aims to contribute toward implementing guiding principles on business and human
rights in the financial sector. The result of this work group has been an initial draft of a practical
document that is a guide for focusing and implementing these principles in the financial sector.
Currently the relevant UN agencies, organizations and stakeholders in general are being asked for their
contributions for integration into the final document, which will be published in 2013.
Lastly, also worth noting is BBVA’s presence in 2012 at the Rio+20 summit, the United Nations
Conference on Sustainable Development. The summit was held 20 years after the first in Rio de Janeiro
in 1992. It represented an opportunity to renew the global political commitment to sustainable
development and to act to eradicate poverty and environmental destruction, while constructing a
bridge toward the future by analyzing the progress being made in sustainable development.
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Compliance system
The Group’s Compliance System constitutes one of the bases upon which BBVA consolidates its
institutional pledge to conduct all its operations and business in accordance with strict codes of ethical
conduct. In line with the principles set forth by the Bank for International Settlements (BIS) and the EU’s
Markets in Financial Instruments Directive (MiFID), Compliance continues to articulate its business
around the promotion of policies and procedures, diffusion and training in matters of compliance and
the identification, assessment and mitigation of potential compliance risks, understood as those that
affect the following issues:
Conduct on the markets
Dealing with conflicts of interest
Prevention of money laundering and terrorist activity financing
Personal data protection
The model of compliance risk assessment and management associated with these matters is global in
nature. It is not a static concept; it evolves over time, strengthening those elements and pillars on
which it is based and anticipating new developments and initiatives that may arise in this field.
This Model is built on the following pillars:
A suitable organizational structure with a clear assignment of roles and responsibilities throughout
the organization.
Policies and procedures that clearly define positions and requirements that need to be applied.
Mitigation processes and controls to enforce these policies and procedures.
A technology infrastructure focused on monitoring and designed to guarantee the above.
Communication and training systems and policies to raise employee awareness of the applicable
requirements.
Metrics and indicators to supervise global model implementation.
Independent periodical review of actual model implementation.
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Corporate governance system
In accordance with article 538 of the Spanish Corporation Act, BBVA includes the Annual Corporate
Governance Report in its Management Report. This Report includes a section detailing the degree to
which the Bank is compliant with existing corporate governance recommendations in Spain. The
Corporate Governance section of the BBVA investor relations website contains all of the legally required
information.
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Standards of conduct and other commitments
A key component of the Compliance system is the BBVA Group’s Code of Conduct, which defines and
develops the bases of ethical conduct and the necessary operating guidelines for preserving one of the
main sources of value creation: corporate integrity. The Code of Conduct is applicable to all Group
banks and employees. It publicizes BBVA’s commitments to its direct stakeholders: shareholders,
customers, employees, suppliers, and the companies in which it operates.
Policy of conduct in the securities marketsPolicy of conduct in the securities markets
The Policy of Conduct in the Securities Markets develops the guidelines laid down in the BBVA Group’s
Code of Conduct regarding securities markets, and includes a series of principles and general
procedural guidelines that are widely accepted internationally and designed to uphold the integrity of
the markets. Specifically, it contains the minimum procedural guidelines that everyone in the Group is
to observe regarding the treatment of privileged information, the prevention of securities price
manipulation, the management of potential conflicts of interest that may arise and those market
operations undertaken on their own accord by employees.
Specific policies or standards in functional areasSpecific policies or standards in functional areas
In addition to the Code of Conduct for Group employees, the company has established other specific
instruments for the management of core commitments in each functional area. The more salient of
these are:
Internal conduct in securities markets standards
Compliance Statute
Director’s Statute
Code of ethics for the recruitment of personnel
Principles applicable to parties involved in the BBVA procurement process
Basic principles of risk management and Risk Management Policy Manual
Regulation on dealing with individuals or entities of public importance in matters of finances and
guarantees
Business conductBusiness conduct
In 2012, the Group continued to develop its business integrity management model. At a global level,
the following is worth noting:
The extension of advanced processes and tools to monitor conduct in securities markets standards
to almost every jurisdictional area in Latin America where the Group conducts this type of business.
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The completion of a corporate positioning to prevent and manage potential conflicts of interest that
may arise in third-party asset management activity.
The compilation and analysis of practices and criteria for customer protection in countries where
BBVA is present, with the objective of targeting potential opportunities for standardization.
The Group’s objective in 2013 is to keep its internal rules of conduct in line with the most stringent
international standards.
On a European level, in accordance with standards and criteria set by local authorities and
supranational organizations, the emphasis has remained on improving transparency and communication
regarding the features and risks of products for customers, and to tailor these products to customer
needs.
The main focus of this work has been aimed at:
Adapting to new transparency standards applicable to marketing bank products, both assets and
liabilities (Spain)
Updating and reinforcing the methods of obtaining information from customers in order to adapt
the investment products offered to them to their knowledge and experience.
Moving the marketing model toward a more personalized service that brings added value to retail
customers and companies.
In 2013 the priorities are focused on completing implementation and consolidation of the
aforementioned initiatives, and on preparing the Group for major European initiatives, such as review of
the MiFID investor protection requirements (MiFID II) and the PRIPs initiative to apply consistent
standards regarding the information given to customers throughout the financial sphere (investment
products, insurance, pension plans, and so on).
Legal complianceLegal compliance
As of December 31, 2012, the BBVA Group has not recorded any significant fines or penalties for
breaches of legislation or regulations related to environmental issues, its operations in society or the
supply and use of products and services, which might be significant regarding its equity, financial
situation and consolidated results*. The Group in Spain has not been convicted in the employment
courts between January 31 and December 31 2012 (inclusive) in cases related to equality or
discrimination filed by employees; it has also not received any penalties due to very serious breaches of
employment regulations; and we have no record of any claims filed by employees related to
discrimination, or legal claims of any importance regarding working conditions.
Commitment to the Global Compact and the Millennium Development GoalsCommitment to the Global Compact and the Millennium Development Goals
In 2012, we continued to actively participate in the United Nations Global Compact, which we have
supported since 2002. Another five local banks joined this initiative as local signatories: BBVA Francés,
BBVA Bancomer, BBVA Colombia, BBVA Continental and BBVA Paraguay. Since 2005 we have also
participated actively in the United Nations work group designed to improve the implementation of
Principle 10 of the Global Compact. In 2012, BBVA also continued to sit on the Executive Committee of
the Spanish Global Compact Association, as it has done since it was founded.
United Nations Global Compact and BBVAUnited Nations Global Compact and BBVA
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CATEGORIES PRINCIPLESCATEGORIES PRINCIPLES
Human rights
P1: Businesses should support and respect the protection of internationally proclaimed human rights, within
their sphere of influence.
P2: Businesses should make sure they are not complicit in human rights abuses.
Labor
P3: Businesses should uphold the freedom of association and the effective recognition of the right to
collective bargaining.
P4: Businesses should uphold the elimination of all forms of forced and compulsory labor.
P5: Businesses should uphold the effective abolition of child labor.
P6: Businesses should uphold the elimination of discrimination in respect of employment and occupation.
The
environment
P7: Businesses should support a precautionary approach to environmental challenges.
P8: Businesses should undertake initiatives to promote greater environmental responsibility.
P9: Businesses should encourage the development and diffusion of environmentally friendly technologies.
Anti-
corruptionP10: Businesses should work against corruption in all its forms, including extortion and bribery.
Source of the matches between Global Compact and GRI indicators: draft of the GRI and Global Compact report
“Making the Connection” (www.globalreporting.org)
BBVA has written the Global Compact Progress Report since the first edition in 2005. In 2012, for the
second year running, the Group’s report (for FY 2011) was awarded the advanced category, meaning
that it has achieved a greater degree of integration of the ten Global Compact principles in its policies
and actions.
BBVA is also continuing its efforts under the Millennium Development Goals, an initiative to which it has
pledged firm support since its launch in the year 2000. The Group’s contribution to each of these goals
in 2011 is shown in the following table:
The Millennium Development Goals in BBVAThe Millennium Development Goals in BBVA
MILLENNIUM DEVELOPMENT GOALS MAIN BBVA INITIATIVE
Eradicate extreme hunger and
poverty
BBVA Microfinance Foundation
BBVA Foundation Frontiers of Knowledge awards – Development Cooperation category
Universal primary education
CRR Strategic Plan
BBVA Community Involvement Plan for Latin America
Alliance with the Organization of Iberoamerican States (OIS) – BBVA Educational Goals
2021
Gender equality
Agreement on equal opportunity and the work-life balance
BBVA Microfinance Foundation
Subscription to the “European Diversity Charter”
Signing of the United Nations Declarations of Principles for the empowerment of women
<<Gender diversity>> corporate plan
Reduce child mortality No specific initiatives
Improve maternal health BBVA Community Involvement Plan for Latin America
Combat HIV/AIDS BBVA Community Involvement Plan for Latin America
Environmental sustainability Management of indirect environmental impact through the Equator Principles
Design of products and services according to environmental criteria
Global Eco-efficiency Plan
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MILLENNIUM DEVELOPMENT GOALS MAIN BBVA INITIATIVE
BBVA Foundation Frontiers of Knowledge awards for climate change, ecology and
conservation biology
Develop a global partnership No specific initiatives
* There have been a number of penalty proceedings related to money laundering whose amount is not
significant in terms of the BBVA Group’s capital.
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BBVA’s impact on society
In 2011 a project called «Social Impact», was initiated with the aim of better explaining BBVA’s impact
on society. This aims to find simple and comprehensible indicators of our traditional financial activity,
such as: net jobs generated, taxes actually paid, purchases made from local suppliers, the number of
people who live in housing financed by BBVA, micro-entrepreneurs financed through BBVA Microfinance
Foundation microcredits, SMEs and entrepreneurs financed by BBVA, and so on. To give it greater
credibility, the idea is that the project should only use indicators verified by BBVA’s external financial
auditors. This project involves major changes to internal management metrics and the incorporation of
new metrics that will be integrated into the management of the business itself.
The project’s social impact indicators were presented by the Group’s COO at the General Meeting of
Shareholders in 2012 and at the presentation of first quarter 2012 results. For the first time, the social
footprint of our activity is being taken into account, above all as a target and a challenge: the goal is to
be increasingly transparent on relevant subjects and to make progress in recovering the confidence lost
by some of the stakeholders in the financial sector.
BBVA’s Social Impact
At BBVA we strive to apply ethical and transparent work practices everywhere we operate. We also
make a significant contribution toward public revenue through our own tax payments, third-party tax
collection due to our economic activity and third-party tax collection in our role as collaborating entity
with the tax authorities.
Since 2011 we have published a breakdown of information on BBVA’s tax contribution in each of the
countries where we operate, in accordance with a PwC methodology.
BBVA Group Tax Contribution
Also, according to the methodology established by GRI, for the indicator EC1, this report details the
economic value generated, distributed and retained by the Group. These values can be found in the
following table:
Economic Value Generated, Distributed and Retained
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Stakeholders
BBVA has a broad range of tools for consultation and dialogue with stakeholders in each country where
we operate and in every business area. These tools guarantee two things: that customers, employees
or shareholders have the proper service channels available and BBVA has sufficient sources of
information to find out stakeholder priorities and expectations regarding their relationship with BBVA.
We also continuously oversee the institutions and people, along with public opinion, making up the
sustainability agenda for a financial entity like our own.
We have three main ways of analyzing and integrating stakeholder expectations:
First, each area’s specific work in its daily relationship with stakeholders and the periodic evaluation of
our performance. This group comprises tools such as the employee satisfaction survey, conducted
biannually, and customer satisfaction surveys. This group also includes work by areas such as
Institutional Relations, with special mention of the work this year by the Coordination Unit for European
Institutions (UCOE). The Unit coordinates the bank’s participation in formal and informal forums to gain
a better understanding of regulators’ concerns. The purpose of these forums is to build and develop
constructive dialog on markets and regulatory policies with regulators and help to achieve a well-
balanced regulatory framework. They are an excellent example of a tool that facilitates dialog with
regulators, an increasingly important stakeholder for the financial industry.
Second, the Corporate Responsibility and Reputation Department conducts regular analyses of
stakeholder demands, priorities and perceptions.
This group includes the internal (on employees) and external (on customers and non-customers)
reputation surveys, public opinion polls (GlobeScan), brand tracking, and analysis of BBVA’s online
reputation and presence in the media. Online reputation and media presence supplement the polls and
public opinion expectations on key issues.
The CRR Department also analyzes the expectations and priorities of sustainability analysts (MSCI,
Sustainalytics, SAM, CDP, EIRIS, GS Sustain, Vigeo, Oekom, ORSC, etc.) and traditional analysts in this
field. This year it is worth mentioning the strategy that the ESG Investment Committee has established
to meet the growing demand for information from these stakeholders.
The third group includes continuous analytical efforts and BBVA Research Department reports and
working papers.
By putting the information from the different sources together, the Corporate Responsibility and
Reputation area prepares global and local diagnostics by combining the results of a variety of tools for
qualitative and quantitative analysis. This analyzes what stakeholders expect of us, how they perceive
us and the various reasons lying behind these perceptions. All this work is reviewed locally and globally
with the different units that might have the biggest impact on the perceptions of these stakeholders, in
order to identify and implement improvement action plans.
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Relevant issuesRelevant issues
The results of the research work were used to organize a workshop with the Group’s CR Managers. The
workshop was specifically geared toward determining the application of key issues, the changes
experienced, and detecting and agreeing on the relevance of new emerging issues.
In light of the persistent crisis that we are facing, the growing importance that public opinion attaches
to the economic situation and unemployment, the two biggest problems for people in most of the
analyzed countries, is noteworthy this year. The third most important issue analyzed globally is
crime/security, which came out on top in Mexico.
The issues that people think a bank should treat as priorities are related to carrying out normal financial
business correctly. A return to basics is evident, with a demand for banks to respond to the present
situation.
Specifically, the main demands are related to the ethical behaviour of financial institutions (above all in
Europe), their real focus on customers (in particular greater demands with respect to prices, particularly
in Latin America) and access to credit as a way of boosting economic growth and employment in the
current crisis.
The list of issues that BBVA and its stakeholders consider important is therefore as follows:
Relevant issuesRelevant issues
RANKING ISSUE MAIN INCREASES IN IMPORTANCE
1 Working in accordance with the highest ethical standards ▲2 Value for money (fees, interest rates) ▲3 Product and service quality ▲4 Access to loans (individuals and companies)
5 Contribution to a strong economy/job creation
6 Financial profitability and sustainability of the institution
7 Transparency/accountability
8 Clear, transparent language
9 Banking penetration among the low-income population
10 Support for governments in the most significant issues for the population
11 Marketing products with complexity adapted to target audience
12 Financial literacy
13 Responsible project finance
14 Remuneration for executives and board members
15 Fraud prevention measures
16 Working on employee development and motivation
17 Promoting equality and diversity
18 Community involvement actions
19 Using technology to benefit people: multi-channel banking
20 Protecting privacy
21 Work-life balance
22 Eco-efficiency
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RANKING ISSUE MAIN INCREASES IN IMPORTANCE
23 Design of socially and environmentally responsible products
24 Humanitarian aid
Controversial issuesControversial issues
Preference sharesPreference shares
BBVA has yet again proven its strong commitment to customers, protecting their investments by
swapping preference shares for BBVA shares. Customers benefited from this solution, by investing in a
liquid instrument: BBVA shares. Proof of this is the success of the swaps BBVA and Unnim customers.
Credit solutionsCredit solutions
BBVA has renegotiated more than 117,000 loans, of which 46,238 are mortgage loans, with customers
who have difficulty meeting their payments, finding solutions tailored to their payment capacity.
In 2012 we joined the Government’s Code of Good Practices to alleviate the problem of evictions
among the most vulnerable families, and we subscribed the AEB’s proposal tailored to deal with this
problem appropriately.
The default rate on primary residence mortgage loans in Spain is below 3%, which is much lower than
other economies, and 97.6% of our customers are up-to-date with their loan payments.
BBVA stake in SAREBBBVA stake in SAREB
BBVA decided not to acquire a stake in this company’s capital in the end, as we felt it did not fit in with
our business strategy, which focuses on managing our own real estate assets and that it might go
against our shareholders’ interests.
The defense sectorThe defense sector
In 2005 BBVA set up a BBVA Group Defense Material Policy applicable to all units and subsidiaries and
which is reviewed annually. In 2011, the review went into greater depth. All of the Group’s areas
involved took part in the process, with advice from leading world experts in the field. Major discussions
were also held with NGOs and important stakeholders in this sector.
Under the resulting regulation, approved in February 2012, any financing deals with companies
involved in controversial arms activity are prohibited, as is participation in any transaction related to
arms activity that originates in or is targeted at countries where there is a high risk of human rights
violation. Improvements were also made in terms of clarity, simplicity and traceability.
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Financial inclusionInformation on Corporate Responsibility 2012
Access to financial services is one of the most important factors contributing to a better future for
people and their families. That is why BBVA is working to give disadvantaged segments of the
population access to finance. BBVA’s commitment to financial inclusion is exemplified by the BBVA
Microfinance Foundation, a non-profit institution which was created to promote the sustainable and
inclusive economic and social development of the most disadvantaged members of society through
access to productive finance.
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BBVA Microfinance Foundation
As part of its pledge to financial inclusion, in 2007 BBVA set up the BBVA Microfinance Foundation ,
which aims to promote sustainable economic and social growth for the most underprivileged people in
society, through productive finance (providing financial products and services and assistance with
productive activities).
At the close of 2012, the BBVA Microfinance Foundation provided a service to more than 1,293,000
customers in Latin America, with a direct impact on the lives of 5.2 million people. It had more than
6,800 employees and a network of 476 branches in the seven countries where it currently operates.
Since the Foundation was set up, it has granted loans to its customers amounting to an approximate of
€2,7 billion (€3,4 billion considering the value of the portfolios purchased by acquiring companies);
60% of the customers are female, and 43% live on an income of less than €7 per day.
BBVA Microfinance Foundation basic global data
In 2012, the Foundation made progress with the consolidation and expansion of its network of
microfinance institutions in the region, with the addition of Banco de Ahorro y CréditoADOPEM in the
Dominican Republic. This bank has a high international profile and has received many awards for its
work with the poorest sectors of society. Banco ADOPEM, three-time winner of the Inter-American
Development Bank (IDB) Award in the “Best Microfinance Institution in Latin America and the Caribbean”
category, has 48 branches and currently provides a service to 240,000 customers (73% of them
female) between 30 and 50 years old, with an average loan of less than €400. Apart from providing
financial services, Banco ADOPEM is noted for its financial literacy and training programs that foster
entrepreneurial skills and the social and human development of customers and their families.
With the addition of Banco ADOPEM, the Foundation now has nine microfinance institutions in the
region: Banco de las Microfinanzas-Bancamíain Colombia; Caja Nuestra Gente and Financiera Confianza
in Peru; Corporación para las Microfinanzas in Puerto Rico;Emprende Microfinanzas and Fondo
Esperanza in Chile; Contigo Microfinanzas in Argentina; and Microserfin in Panama.
This group of institutions specializing in productive finance has turned the BBVA Microfinance
Foundation into the leading operator in terms of number of customers managed on an individual or
portfolio basis in Latin America. The Foundation continues to expand, and is working toward
strengthening its position in the region, especially in Peru where its microfinance institutions Caja
Nuestra Gente and Financiera Confianza are in the process of a merger that will give rise to the leading
rural inclusive finance institution in the country.
With respect to strategic projects undertaken in 2012, the Foundation began work to discover the efect
that its activities have on customers’ lives. It created and implemented its own system for measuring
the social impact of its institutions, the results of which will be compiled in a Social Report.
1
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To supplement its main activity, the Foundation also undertook altruistic initiatives to promote and
transform the development of the microfinance sector. This work included continuing to implement its
Microfinance Specialist Training Program in partnership with the National Distance Learning University
(UNED) and local universities such as Universidad del Pacífico (Peru), Universidad Javeriana (Colombia),
Universidad de Congreso (Argentina), Instituto de Estudios Bancarios (Chile), and with the support of
the IDB and the Multilateral Investment Fund. This program has trained more than 1,670 people since it
was set up in 2009.
For its institutional activity, in November 2012 the BBVA Microfinance Foundation was recognized as a
Social Investment Pioneer in the Social Business category by the Principles for Social Investment
Secretariat (PSIS). The PSIS is an initiative of the United Nations Global Compact. The panel appreciated
the “impressive” scale and success that the Foundation has achieved in Latin America in the five years it
has been operating, as well as its plans for growth and expansion into other markets in the region.
Data broken down by microfinance institution
Loan portfolio
Customer data from the gender perspective
[1] The BBVA Microfinance Foundation was created as a response to the BBVA Group’s corporate
responsibility, but as a non-profit institution it is independent of it in both governance and management.
Accordingly, the BBVA Group wishes this Annual Report to reflect the fact that the BBVA Microfinance
Foundation is not part of BBVA financial group. For this same reason, the BBVA Group neither manages
nor answers for the activity undertaken by the Foundation, or by those financial institutions that the
Foundation acquires in pursuit of its goals.
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Other financial inclusion initiatives
MexicoMexico
In the countries in which BBVA operates, there are 100 million people who do not have access to
banking services. We want to attract them with a value proposition based on a long-term relationship
through user-friendly banking products and services.
BBVA is committed to establishing long-term ties between people and our institution, starting by giving
people easier access to financial services.
The BBVA Bancomer «Cuenta express» turns cell phones into a bank account that can be opened
immediately and is easy to use, low-cost and very secure. The account holder is also given an
international debit card for in-store purchases and ATM withdrawals. In 2012, 999,297 new customers
signed up for this product.
Development of financial inclusion initiatives began in Mexico and Spain. They are currently being
extended to Turkey, United States, Colombia, Peru and Venezuela. In addition, there are the BBVA
Microfinance Foundation’s own activities.
Banking correspondentsBanking correspondents
One of the limiting factors for banking penetration is the shortage of customer service points. The
problem is particularly acute in rural areas and outlying districts. To manage this segment, it is essential
to provide customers with alternative channels other than bank branches, such as banking
correspondents, ATMs, Internet banking and mobile phone banking.
The aim of these correspondents is to increase the number of customer service points that can provide
financial services at non-banking entities such as stores, supermarkets, drug stores, and others. In some
countries mobile telephone operators can be used. In 2012 we extended the network of certified
correspondents by 15% on 2011 to 20,750 service points. A total of 31.9 million transactions were
completed in 2012 through banking correspondents, which represents a 59.5% increase with respect
to 2011.
Once this alternative network of contact with the bank has been established, the offer can include low-
cost products such as insurance, microcredit and credit cards and financial services such as
remittances, utility payments and transfers.
The special range of products and services for this segment is based on four lines of action:
1. Deploying a basic low-cost account, which is easy to open and can be
operated via alternative channels
2. Innovating in platforms and products that appeal to the segment
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3. Opening up alternative low-cost channels
4. Assisting young people who are starting out
Mobile MoneyMobile Money
Our innovation and development of new channels for financial transactions led to the launch of the
“BBVA Bancomer Mobile Money” service. This allows customers to send money to a cell phone
belonging to a third party, who can then withdraw that money from a BBVA Bancomer ATM without
using a card. In other words, the third party does not need to have an account at BBVA.
The payment can be made through three different channels: Internet (Bancomer.com), cell phone or
ATM. The only information required is the cell phone number, the beneficiary’s name and the amount to
be sent. Once the transaction has been made, a code is issued, which must be submitted to the
beneficiary. The beneficiary receives a text message with a code that he or she must enter in the ATM
along with the code provided by the payer, in order to withdraw the money.
This service brings banking infrastructure closer to people who do not normally use banking services.
They can benefit from the largest network of ATMs in Mexico (around 8,000), dotted all around the
country, which combined with the huge penetration of cell phones (more than 80 million lines in a
country with a population of 120 million) makes this a convenient, quick and straightforward alternative
for sending money.
CelularízateCelularízate
The primary objective of the «Celularízate» project, carried out in alliance with Coca-Cola FEMSA, is to
extend the financial inclusion of small retail outlets and their customers by developing products and an
alternative, low-cost channel that operate outside the branch network.
In 2012, BBVA Bancomer conducted a pilot program with 308 small retail outlets belonging to the low-
income segment.
The mass launch is planned for 2013. The project aims to provide retailers with an application
(Celularizate, which includes Bancomer Móvil and other platforms) that allows them to offer customers
new payment methods, make electronic payments to suppliers and sell financial and non-financial
products. The platform is a banking penetration tool designed to extend the financial inclusion of
retailers and provide them with products and services that can make them more profitable. It will also
allow them to act as distribution points for the «Cuenta Express Bancomer» low-cost accounts.
RemittancesRemittances
Our position as the leading remittance processor and payer in Mexico means that we are one of the
institutions that contribute most to the country’s social development through family remittances. We
also contribute toward financial inclusion by ensuring these remittances reach more isolated parts of
the country.
In 2012, we reduced the amount that can be sent in cash from US$3,000 to US$1,500; the amount for
transactions paid into an account remains unlimited. This helps to lessen the risk of the channel being
used as a means to transfer money obtained by illegal means. It also encourages people using the
remittance service to use banks more and open new checking and savings accounts. This means they
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can be easily identified and cuts down waiting times at banks, as they have other alternatives available
to collect or check their remittances (ATMs, telephone banking, etc.). We have also improved
beneficiary identification systems, guaranteeing payment to the correct beneficiary at branches.
In addition, we have stepped up the fund alert and management system through Bancomer Transfer
Services (BTS), which ensures Sales Partner accounts always have sufficient funds and can make
uninterrupted over-the-counter payments of remittances at branches. This measure has been
undertaken together with BTS Houston and the Atento call center. The main aim is to allow users to
collect their remittances on time and with fewer problems. It also gives the business greater control of
its sales partners. Other advantages include fewer calls from beneficiaries to the call center to check
whether their remittances are available and fewer billing costs for the call center.
All of these activities have strengthened Bancomer’s position as the leading payer of family remittances,
because customers see the Bank as trustworthy and accessible. In 2012, BTS processed 40% of all
electronic remittances sent to México and paid 56% of electronic remittances paid at local banks. This
amounted to 28 million transactions with a value of US$10,337 million.
Access to mortgagesAccess to mortgages
BBVA Bancomer participates in the Federal Mortgage Company’s (SHF) Crediferente program, which
includes a credit insurance in the lender’s favor and through which customers with non-traditional
income or who do not receive social security benefits can access mortgage loans. Up until November
2012 1,731 loans worth 1,388.22 million Mexican pesos had been included in this program.
Also in the area of mortgages, we set up an innovative partnership with a major housing developer
which agreed to share part of the portfolio risk generated by a lending program targeted at customers
with no previous credit experience (no history in the Credit Bureau) and with non-traditional income,
who otherwise would never be considered eligible for a mortgage. The housing developer provides a
cash guarantee which is applied to these loans when they default during the initial months of financing.
By November 2012 we had granted 47 loans worth 8.7 million Mexican pesos under this program. We
are monitoring the results to determine the feasibility of expanding the program to other housing
developers.
South AmericaSouth America
ArgentinaArgentina
BBVA Francés strives to incorporate children who receive scholarships under the «Niños, Adelante»
(Forward, children) program and their families into the financial system by paying the scholarships
through a banking product that they can use via ATMs and in retail outlets.
This has changed the lives of young people who were excluded from the system, many of whom had
never entered a bank branch or even been to their city center. As a customer of the Bank, the
scholarship holder is given advice on how to use BBVA Francés services via the team at his/her branch.
The financial literacy of the scholarship holders is also fostered through tutorials to advise them on how
to manage money responsibly within the scope of the scholarship while they are participating in the
Program.
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ColombiaColombia
In 2012 we worked on setting up our own platform of banking correspondents under the web services
model to eliminate the need to use the brokering services of the Credibanco network and thereby
reduce installation and maintenance costs and problems. In 2012 a total of 250 banking
correspondents were reached in Colombia, which is 12% more than the previous year.
PeruPeru
This channel grew further in 2012 in terms of transactions and service points, due to the joining of new
stores and the management of the existing network of correspondents.
We also provided customers with a new channel called «Mobile Banking», which allows them to operate
their accounts wherever they are.
By the end of the year, BBVA Continental had 440 «Express Correspondents, 69 «Express Plus
Correspondents» and 924 «Kasnet Correspondents» and 439 «Western Union Agents», totaling 1872
customer service points (5% more than the previous year).
VenezuelaVenezuela
BBVA Provincial strives to support microenterprises throughout their entire economic cycle in order to
ensure sustainable growth and consolidate their business and long-term outlook. That is why in 2012
we offered the microenterprise sector a sound portfolio of products and services, thus giving us access
to 40% more entrepreneurs than the previous year in this sector, with a 25% portfolio increase
compared to the same period the previous year. These activities confirm our Bank’s commitment to this
important sector for the domestic economy.
United StatesUnited States
BBVA Compass is committed to the communities in which it operates, including traditionally neglected,
low-income sectors. We believe in extending access to credit, providing lending and financial products
and services that are accessible to these segments of society.
BBVA Compass fulfills the principles of the Community Reinvestment Act (CRA) of 1977, which
encourages depository institutions to help meet the credit needs of the communities in which they
operate, including low and moderate-income neighborhoods, consistent with safe and sound banking
operations.
As such, BBVA Compass is subject to regular examinations under the CRA which evaluate our record of
compliance with the credit needs of our communities. The latest CRA examination took place in 2011,
at which we received a “satisfactory” rating from the Federal Reserve. The results in these examinations
affect our organization’s future growth because they are taken into account when approval is
considered for future deposit facility applications, including mergers and acquisitions. Thus our
organization’s compliance with the CRA requirements directly affects BBVA Compass’ ability to access,
work in and exit the communities to which we provide services.
SpainSpain
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BBVA has been working on the financial integration of immigrants from the start of the phenomenon of
immigration to Spain. Foreigners now represent 12.1% (5.77 million) of the total Spanish population,
and more than 243,000 are BBVA customers.
Since 2005 BBVA has offered a range of general products and financial services specially designed for
immigrants. Our market share of the immigrant population is 4.2%. In BBVA, immigrants have 33% of
their income and 34% of their bills paid by direct billing. Total card holding is 38% and life insurance
10%. In 2012, 87.2% of the money that customers transferred to their relatives was via alternative
channels (ATM, Internet or phone), with the majority via ATM (77.5%).
We have extended our network of destination countries to 22 countries with the inclusion of Georgia
and the Ukraine in February this year. In addition to extensive coverage in Latin American countries,
money is also being sent to countries like Morocco and Romania, whose communities are very present
in Spain, not to mention important countries such as Brazil, China and Russia. The entire BBVA network
is available to immigrants to help include them in the financial system by offering a broad range of
products adapted to their real day-to-day situation.
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Financial literacyInformation on Corporate Responsibility 2012
Financial literacy is one of the core elements of Corporate Responsibility. It is developed through
specific programs in each geographical area in which the Group operates:
The «Adelante con tu futuro» (Forward with your future) program, targeted at people who already
use banking services, or could use them; as an accompaniment to the banking penetration process
in Latin America.
The «Valores de futuro»(Future values) program; designed for elementary school children and those
in the first cycle of ESO (the two years following elementary school) in Spain and Portugal.
Support for financial literacy initiatives by institutions in the United States, with schemes such as
“Money Smart” for adults and young people, “Teach Children to Save” and “Get Smart About Credit”
aimed at children.
In 2012 BBVA allocated €7.27 million to its financial literacy programs, from which nearly 1.2 million
people have benefited. This amount accounts for 9% of the Group’s total investment in social programs.
Since 2008, more than 2.4 million people have developed basic financial skills to help them in the
complex world of finance.
Number of financial literacy program beneficiaries
As part of our pledge to financial literacy, we signed a collaboration agreement with the OECD, under
which the PISA 2012 Report shall include a study of financial literacy. The evaluations for use in the
PISA 2012 report were conducted throughout the year. The results will be available in 2013 and will
allow us to draw conclusions about the importance of having relevant financial information.
Under this collaboration agreement, we hosted two seminars at BBVA Campus during the annual OECD
meeting held in Madrid, aimed at analyzing the status of training in financial education for youth.
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Adelante con tu futuro
The «Adelante con tu futuro» financial literacy program was created five years ago with the aim of
empowering people in Mexico with the basic financial skills they need to get the most out of financial
services. Since then, it has evolved in a number of ways.
In 2012, we added two new workshops in Mexico and made progress in implementing financial literacy
workshops in other South American countries, including Chile, Colombia and Uruguay.
This year there were 14,088 participants overall in 33,542 financial literacy workshops held under the
«Adelante con tu futuro» program in these Latin American countries.
MexicoMexico
«Adelante con tu futuro»offers personal finance workshops for customers and non-customers covering
topics such as saving, saving for retirement, credit cards, credit health and mortgages, life insurance,
mutual funds and electronic banking (the latter were introduced in 2012). There are workshops for
SMEs, including two new workshops about credit and cash flow, designed to support the creation and
growth of SMEs in Mexico,
The workshops are organized by BBVA Bancomer in conjunction with Museo Interactivo de Economía
(MIDE) and TEC de Monterrey.
In 2012, we taught 656,339 personal finance and SME workshops to 225,875 people. This means that
each person participated in two workshops on average, in other words they acquired two basic financial
skills on average, allowing them to gain knowledge and develop skills to use financial services to their
advantage.
These workshops were taught face-to-face in 19 financial literacy classrooms at BBVA Bancomer
branches in the main cities in the country, in 15 other mobile classrooms and through online courses
on the «Adelante con tu futuro» website, a TEC de Monterrey (LMS) distance learning platform.
For the first time, in 2012 we introduced workshops using a new non-electronic conventional format,
based on comic strips, printed calculators and educational games, for those sectors of society that have
no Internet access.
The program also includes a partnership with educational institutions and universities, so that
workshops have been given at the Museo Interactivo de Economía (MIDE) and universities, including
awareness campaigns. These campaigns have raised awareness about the importance of financial
literacy among the population in general, thanks to our participation at events based on internal and
external partnerships with authorities, universities and other companies.
We have also increased interaction with participants on our digital platform. The year closed with more
than 30,000 social media followers (twitter, facebook and youtube), and more than 200,000 visits to
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the program’s website during the year. As a result, the number of people participating in online
workshops has increased.
We also promote financial literacy through the“No tires tu dinero“ (Don’t throw your money away) radio
program, in which the UNE (the Bank’s specialist unit responsible for receiving, understanding,
analyzing, comparing and resolving complaints and claims) participates as part of BBVA Bancomer’s
pledge to promote good practices and the use of financial products and services.
For all these reasons, the financial literacy program has ensured that BBVA Bancomer is a bank with a
good reputation among its customers. We carry out evaluations among those participating in the
program that demonstrate the improvement in their finances that has resulted the acquisition of these
basic financial skills.
South America
In Chile, 1,840 people have taken part in the «Adelante con tu Futuro» (Forward with your future)
program through 89 free talks, basically employees from companies with agreements with BBVA,
municipalities and NGOs; and 1,003 more attended 9 talks on pension literacy.
We also gave our support to the Agent Piggy website that helps parents to teach their children about
finance. On this site children learn about the value of money, the importance of saving and how to plan
their income and expenses to allow them to achieve their dreams.
In Colombia, we ran financial literacy workshops in 14 cities and towns, using both the mobile
classroom and auditoriums and conventional rooms that public and private institutions provided. There
was a total of 33,500 workshops and more than 10,817 participants.
In Uruguay, 428 young people in their first years of high school have been taught financial literacy
skills.
In Venezuela, we distributed the book entitled “Mi primer Negocio”(My first business) in 2012. This
book is targeted at young people and children and promotes financial literacy and entrepreneurship, as
well as new solutions for building a better society. The book was given to 7,700 children and young
students enrolled in the Integration Scholarships Program and to our employees’ children.
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Valores de futuro
We launched «Valores de futuro. El dinero en nuestras vidas» (Future values: the money in our lives) in
2009 as part of our strategic Corporate Responsibility plan. The aim was to promote financial literacy at
schools in the capital cities of Spanish provinces.
The Bank is working closely with schools, BBVA Volunteers (who teach classes at the schools) and
educational consultants, on this innovative project.
During the 2011/12 academic year, the program was extended to Spanish towns within a 20 km radius
of the capital cities, and to the main Portuguese cities. We also launched the program in Mexico for the
academic year 2012/13.
Spain and PortugalSpain and Portugal
«Valores de futuro»teaches school children in Spain and Portugal about values related to the use of
money. In the program’s third year, the main aim was to build the loyalty of the centers already enrolled
in the program and to increase the number of participating schools.
During the 2011/12 academic year, 780,451 pupils from 3,825 schools in Spain and 126,944 pupils
from 849 schools in Portugal participated in the program. Total participation was therefore 907,395
pupils from 4.674 schools. This represents an increase of 734 schools and 216,680 pupils (31%) on the
previous academic year, thus achieving the initial target set.
The “Ahorro para todos“ (Saving for everybody) workshop was launched at 10 schools in Barcelona.
Between them they saved more than €100,000. The “Concurso de Participación Activa” competition
was also held for participating schools, with regional and national stages. First prize for the winning
class in Spain was a camp organized by United World Colleges.
For 2012-2013, the target is for 1,000,000 pupils to participate. This year “Ahorro para todos“ will be
held at 10 schools in Valencia.
MexicoMexico
In September of 2012 we began the «Valores de futuro» (Future values) project for the 2012/03
academic year. The aim is to develop values associated with the use of money among elementary and
high-school children through pre-designed workshops that allow them to learn in a variety of subjects
taught by the basic study program in Mexico.
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Financial literacy initiatives in conjunction with institutions
In 2012, BBVA Compass supported initiatives on financial literacy in each stage of a person’s life
(childhood, youth and adulthood) in the U.S. through partnerships with the American Bankers
Association Education Foundation (ABAEF), Federal Deposit Insurance Corporation (FDIC) and Junior
Achievement Worldwide.
United StatesUnited States
For the last four years we have worked with the American Bankers Association Education Foundation
(ABAEF), allowing our employees to help 6,187 children and young people by teaching them about the
importance of saving and how to manage their loans responsibly through the “Get smart about credit”
and “Teach children to save” programs.
In 2012 we also renewed our partnership with the Federal Deposit Insurance Corporation (FDIC) to
access their “Money Smart” financial literacy program where 5,487 young people and adults have
participated. This program helps people, even those with no banking experience whatsoever, to gain
financial knowledge, build their confidence, use bank services properly and establish beneficial banking
relationships.
BBVA Compass also continues to work with Junior Achievement Worldwide to train students for entry
into the labor market, the spirit of entrepreneurship and financial literacy, through experimental and
practical programs. Around 200 students from the Houston institute benefited from the Business of
Sports program. This training day taught them about the business side of sport and included a Houston
Dynamo game at the BBVA Compass stadium.
Economy Outlook SeriesEconomy Outlook Series
In 2012, Campus BBVA, the BBVA Group’s knowledge and learning center, implemented the «Economy
Outlook Series» program. This consists of a series of economic conferences featuring top international
experts to provide an insight into the future of the world’s economy.
The idea is to create a space for reflection in which different points of view can be shared about the key
levers that are currently in play in the new economic scenario.
During the year, four conferences were held for stakeholders, -customers, employees, regulators and
opinion leaders- attended by 480 people and which counted with the presence of William White,
Chairman of the OECD’s Economic and Development Review Committee, Fan Gang, Director of the
National Economic Research Institute in Beijing, José Manuel González Páramo, former Member of the
Executive Board of the European Central Bank (ECB), and Charles Goodhart, Professor of Finance at the
London School Economics and former monetary adviser to the Bank of England.
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Responsible bankingInformation on Corporate Responsibility 2012
Under the heading of responsible banking, we describe how we integrate environmental, social, ethical
and corporate governance (ESG) variables into our day-to-day business: in our financing and asset
management activities; in our relations with employees and suppliers; and through our commitment to
the environment.
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Responsible finance
Integrating ESG variables into risk managementIntegrating ESG variables into risk management
ESG stands for environment, social and corporate governance. We integrate these variables into our risk
management system, alongside other traditionally managed aspects. These ESG variables manage non-
financial risks that might affect the credit profile of a borrower or financing project and consequently
jeopardize debt repayment.
This integration process consists of the following lines of action:
Social, Environmental and Reputational Risk CommitteeSocial, Environmental and Reputational Risk Committee
The Social, Environmental and Reputational Risk Committee was created in 2011. Its main duties
include promoting and monitoring the management of key reputational risks and the actions that are
aimed at integrating social and environmental risks in the Group’s activities.
The SAR Risk Committee is chaired by the Group’s Director of Risks and is formed by the Directors of
Legal Services, Audit and Compliance, Communication and Image, Technical Risks Department,
Corporate Risk Management, Operational Risk and Internal Control, Risk Portfolio Management,
Corporate & Investment Banking (CIB), Legal Compliance, CIB Strategy and Coordination, Global Retail &
Business Banking, Strategy and Coordination and Corporate Responsibility and Reputation.
Equator PrinciplesEquator Principles
BBVA adopted the Equator Principles (EP) in 2004. The EPs, based on the International Finance
Corporation’s Policy and Performance Standards on Social and Environmental Sustainability and the
World Bank’s Environmental, Health and Safety general guidelines, are a set of standards for assessing
and managing social and environmental risks in project finance.
The EPs are applied to the financing of new projects worth US$10 million or more, the expansion of
projects that generate significant impacts, and advice on project financing. BBVA does not take into
consideration this minimum threshold, but applies the EP to transactions irrespective of the amount or
use of the funds: not only new projects or significant expansions, but also to the construction of
projects, acquisitions, refinancing, and so on.
In terms of scope by financial product, whereas the EPs apply to advice and project finance, BBVA
extends them to advice, bridge loans, projects in operation, project bonds, assignment of credit rights
and buyer’s credit. In 2012, for the first time two project bondsfor wind farms in Mexico were reviewed.
The infrastructures receiving finance are two 68-turbine wind farms with 102 MW installed capacity
each, in a concession granted by the Federal Electricity Commission. This project is classified as a Clean
Development Mechanism under the Kyoto Protocol due to its reduction of greenhouse gas emissions.
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The wind farms, together with the Oaxaca III project, form the largest wind farm complex in Latin
America, with 306 MW installed power.
In 2012 a total of 99 operations have been analyzed, of which 9 were rejected and 31 were being
studied at the close of the year. Of the 59 operations accepted, 46.9% of the total financed and advised
(32.2% of the operations) correspond to infrastructure projects of a high social impact, and 17%
(33.9% of operations) to the renewable energy sector, with a total installed capacity of 4,448.5 MW.
As well as classifying the projects, BBVA has established a methodology to classify the environment
where the projects are located in order to have a complete view of their impacts on the natural and
social environment.
Project category (International Finance Corporation – World Bank Group):
A. Projects expected to have significant adverse social
and/or environmental impacts that are diverse,
irreversible or unprecedented.
B. Projects expected to have limited adverse social and/or
environmental impacts that are few in number, generally
site specific, largely reversible and can be readily
addressed through mitigation measures.
C. Projects expected to have minimal or no adverse social
and/or environmental impacts.
Environment category (own methodology):
A. Resilient areas that are well equipped to deal with
environmental and social impacts. They might be urban
areas that are already developed or specifically designed
for similar activities to the project.
B. Areas able to absorb a certain level of significant impact.
In most cases, the area has the institutional capacity to
deal with social and environmental risks.
C. Sensitive areas with little capacity to absorb impacts.
They might be areas in their original natural state, with
protected or endangered areas or species, cultural
heritage sites, or areas that are home to indigenous
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populations or other vulnerable groups. Winning support
from the groups affected by the project could be a
challenge in these areas.
Classification of projects according to the Equator Principles
Chart of transactions by sector
With greater transparency in mind, in 2013 we will start publishing the environmental and social
information of projects, including the Environmental and Social Impact Assessment and other non-
confidential information relating to the projects.
At a global level, the strategic review process of the EPs was underway at the close of 2012, which will
result in the EP III. BBVA is actively involved in this process through the Work Groups set up to carry out
this review.
BBVA Continental Peru, BBVA Colombia, BBVA Provincial in Venezuela and BBVA Chile implemented the
Equator Principle Procedure in 2011 and adapted it to the new procedure in 2012. Mexico, Argentina
and the U.S. also developed and adapted it in 2012.
The Specific Specialized Finance Regulation was approved in 2012. As well as regulating the
management and control of Credit Risk in Specialized Finance, this Regulation stipulates that:
The procedures defined in this document apply to specialized finance transactions undertaken in
any BBVA Group Business Area.
All project finance operations taking place within the BBVA Group, regardless of their amount, the
Business Area to which the client belongs (Global Clients, Corporate and Business Banking, etc.) or
their geographic location, will need to have, a ruling of compliance with the Equator Principles
issued by the procedure manager before being sanctioned.
The minimum report for project financing must include a “Certificate of adherence to the Equator
Principles, guaranteeing compliance with environmental and social principles established in the
World Bank’s regulations”.
As a result of this regulation, application of the Equator Principles has become a general rule for any
project finance throughout the BBVA Group, regardless of geographical location or business area. It
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extends application of the Equator Principles Procedure, designed and owned by Corporate and
Investment Banking, across the whole Group.
In 2012, the Risk Management Committee approved the revision and update of the “Specific
Environmental and Social Risk Management Regulation for Finance and Guarantees” replacing the
“Manual on Environmental and Social Risk Management for Finance and Guarantees”. This regulation
sets out three lines of action to identify, evaluate, manage and mitigate environmental and social risk in
decision-making processes: Environmental and social risk management for project finance, bridge
loans, the German method and buyer credit; environmental and social risk management for companies
and corporations; and environmental and social risk management for applications for finance related to
the defense sector.
In the Corporate and Investment Banking area, BBVA has a team specialized in EP management that
takes on responsibility for analyzing financed projects, representing BBVA before stakeholders,
reporting to Senior Management and designing the management system, proposing best practices and
contributing toward training and communication regarding EP-related aspects.
Project analysis is included in the internal project structuring and approval processes, in which each
transaction is subject to an environmental and social due diligence process. This starts by assigning a
category (A, B or C) which, based on the IFC category assignation process, reflects the project’s level of
environmental and social risk.
BBVA, besides being a member of the Communication Work Group, in 2012 it joined the Social Risks
Work Group, assisting with the external audit recommendations for EP reporting and has been elected
for the EP Steering Committee.
In 2012, the EP team helped to train 20 of the bank’s employees and distributed a Practical Guide to
the EPs, presentations of current affairs (Human Rights, and free, prior and informed consent) and the
review of international standards and initiatives (IFC 2012 Performance Standards, the OECD’s 2012
Common Approaches for Officially Supported Export Credits and Environmental and Social Due
Diligence, and the UNEP FI Natural Capital Declaration). The EP content on the intranet was also
updated and a quarterly Corporate Responsibility bulletin began to be published for CIB employees.
Work with Multilateral institutionsWork with Multilateral institutions
In 2012, BBVA maintained extensive institutional and business relations with Multilateral Financial
Institutions (MFI) that contribute to regional development, including the World Bank, the European
Investment Bank (EIB), the Inter-American Development Bank (IDB), Corporación Andina de Fomento
(ADC) and the European Bank for Reconstruction and Development (EBRD).
This activity reaches across many products and regions, including internal trade finance, project co-
financing, financial brokerage transactions, debt issuance on local capital markets and Treasury
operations.
The Group’s strategic relationship with MFIs is particularly important during these times in light of the
anti-cyclical role that multilateral institutions play in the current financial crisis.
BBVA Group’s work with MFIs covers four areas of activity:
Foreign Trade Finance:
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Foreign trade programs are developed by supranational organizations to promote foreign trade
activities in the countries where they operate. These programs offer Confirming Banks partial or full
guarantees to cover political and commercial risks in transactions with local banks.
BBVA, S.A. and all of its subsidiaries in Latin America participate in at least one MFI Trade Finance
Program.
In 2012, BBVA Uruguay joined the International Finance Corporation (IFC) Foreign Trade program as an
issuing bank. This makes BBVA the financial group with the biggest number of subsidiaries in this
program (BBVA Francés, BBVA Continental, BBVA Paraguay, BBVA Panama, BBVA Colombia, BBVA Chile
and BBVA Uruguay).
These programs promote inter-regional “South-South” trade in Latin America among local SMEs. BBVA
plays a crucial role through its nine subsidiary banks in the region and large customer base.
Financial Brokerage:
BBVA also regularly participates in MFI Financial Brokerage transactions in Europe and Latin America.
Under these, MFIs channel finance to priority sectors (for example, green energy, urban development,
SMEs, exports) for transactions that meet the set eligibility criteria.
In Spain, BBVA was chosen to manage the first JESSICA-FIDAE Urban Development Fund. The fund is
run by the European Investment Bank (EIB) to back urban regeneration and development in renewable
energy and energy efficiency across the whole of Spain.
In Latin America, most of the BBVA Group’s financial brokerage activities in 2012 were targeted at the
agricultural industry, energy efficiency and SMEs.
Local Capital Market Development:
BBVA contributes toward local capital market development through structuring MFI debt issuances and
providing new sources of liquidity. In January, BBVA was the bookrunner for an EIB issuance worth
€250 million over 14 years.
We also participated in seven EFSF public issuances, with an aggregate amount of €19,000 million, in
which BBVA participated with €35 million per issue.
BBVA also continued to form part of the EIB work group to design project bonds that give energy and
infrastructure projects access to debt capital markets. This initiative will open up the new sources for
project finance required to meet the goals established in the Europe 2020 agenda.
Joint BBVA-MFI plans for economic and sector development:
BBVA participated in the second regional sustainability survey designed to assess various
environmental, social and corporate governance sustainability initiatives and projects undertaken by
financial brokers. It is organized by the IDB as part of its Beyond Banking program. This year 80 banks
from 18 countries in Latin America and the Caribbean took part. BBVA Continental, Bancomer,
Provincial and Colombia were ranked in the top ten.
Three of BBVA’s initiatives were shortlisted in the 2011 Beyond Banking Awards: In the “Planet”
category, BBVA Paraguay with the LEED certification for the headquarters and IDO 14001 certifications
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for bank offices; in the “SRI / Impact Investment” category, BBVA Bancomer with the responsible fund
B+Educa and in the “Sustainable Reporting” category, BBVA Group with the 2010 Integrated Report.
In March 2012, BBVA and the IDB sponsored the second futureBankinglab on banking penetration at
the BBVA Innovation Center. The workshop held two days of closed sessions for various banking
penetration specialists to discern how this issue will influence banking in the future.
BBVA is a member of a work group to develop the Mediterranean Solar Plan, one of the priority projects
of the Union for the Mediterranean, which consists of generating 20 GW of additional power capacity by
2020 in the region under its mandate.
In Peru, BBVA Continental implemented the Green Portfolio Program system with US$30 million in IDB
funds to finance energy efficiency, renewable energy, clean production, sustainable construction and
other projects. In 2012 the IFC signed a credit line for small hydro plants which awards US$30 million
exclusively to hydropower projects between 3MW and 20 MW.
In 2012, two transactions were approved under the IDB’s Green Credit Facility, Sta Rosa Hydropower
Plan – Purmacana Project for US$3.6 million, and Lopesa Industrial for US$175,000.
The ICT (Information and Communication Technology) sector is also a priority for BBVA in Latin America
to build solutions for the new needs of a growing world with limited resources.
Rules of Conduct in DefenseRules of Conduct in Defense
In 2005 BBVA set up Rules of Conduct in Defense applicable to units and subsidiaries everywhere in the
world; which was reviewed annually to ensure it met the strictest criteria.
Following the previous year’s internal audit recommendations, the policy was reviewed in greater depth
in 2011 in order to broaden its scope, make it clearer and simpler and ensure traceability and
compliance.
A work group was consequently set up, formed by all of the areas involved (Technical Risks
Department, Internal Control-Legal Risk within Corporate & Investment Banking, Country Risk CRM,
Internal Audit, Legal Services-Risks, and Corporate Responsibility), and received advice from
Sustainalytics, one of the world’s leading analysts in this field. Major discussions were also held with
NGOs and important stakeholders in this sector.
The main breakthroughs were related to the regulation’s purpose, focus, scope and application:
An arms definition is included that leaves no room for interpretation regarding the objective of
operations.
Whereas specific operations were excluded before, now any financing deals with companies
involved in controversial arms activity are excluded, with a black list of groups and countries subject
to international embargos that is updated every three months.
The only financing scope is extended to any product or service.
Exceptions are deleted and operations related to countries with high risk of violating human rights
are escalated to the Risk Management Committee (RMC), the BBVA Group’s highest executive body
in the field of risks.
The implementation procedure is made clearer to ensure comprehensive application and improved
traceability.
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The new regulation, called “Rules of Conduct in Defense” was submitted to the SAR Committee and
officially approved on February 24, 2012, by the Risk Management Committee. The document “Defense
Procedure” is also available for every employee. This document describes the implementation
procedure of the Rule, the responsibility for each area involved and all the necessary requirements for
its successful application and traceability.
EcoratingEcorating
BBVA uses the Ecorating tool to value the risk portfolio of companies from an environmental point of
view. A credit risk rating is assigned to each customer in accordance with a combination of several
factors such as location, polluting emissions, consumption of resources, potential to affect the
environment, and applicable legislation.
In 2012, BBVA analyzed the environmental risk of 200,771 customers in Spain using the Ecorating tool.
The tool is currently under development in Mexico.
Ecorating
Prevention of money laundering and terrorist financingPrevention of money laundering and terrorist financing
Prevention of Money Laundering and Terrorist Financing (henceforth referred to as PML&TF) constitutes
an ever-present objective that BBVA associates with its pledge to promote and uphold the well-being of
the different communities in which it operates.
For the BBVA Group, ensuring that its products and services are not used for illegal purposes likewise
constitutes an essential requirement for safeguarding its corporate integrity, and thereby one of its main
assets, namely, the trust of the people and institutions it deals with on a day-to-day basis (customers,
employees, shareholders, suppliers, etc.) in the numerous areas where we are present.
To achieve the above objective, as a global financial group with branches and subsidiaries that operate
in numerous countries, BBVA Group has adopted a corporate Model for Managing the Risk of Money
Laundering which applies to any Compliance Matter (see description in the Compliance System section).
This Model is followed in all of the entities forming part of the BBVA Group, and not only takes into
account the regulations on prevention of money laundering in the jurisdictions in which BBVA operates,
but also incorporates the best practices of the international financial industry in this regard, as well as
the recommendations issued by international entities, such as FATF (Financial Action Task Force).
The Model for Managing the Risk of Money Laundering is constantly evolving and subject to
independent review, which allows for the incorporation of additional measures when the risk of
exposure makes it necessary. The Model’s focus is based on the PML/TF risk, which allows its
monitoring to be reinforced through the risk analyses conducted.
In 2012, we continued to strengthen the model by:
Implementing improvements in the customer risk categorization or assignment systems in terms of
PML & TF, based on the factors identified by the sector as relevant for delimiting the risks of money
laundering.
The adjustment of internal policies and procedures to the regulatory changes made in the countries
where we operate and the adoption of best international practices in these matters. Some examples
include those arising from the new Federal Law on prevention and identification of transactions with
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illicitly obtained resources in Mexico; the Organic Law on organized crime and terrorism financing in
Venezuela; and Circular 3435 issued by the Banks and Financial Institutions Superintendency,
Circular 2070 issued by the Securities and Insurance Superintendency and Official Notice 8869
issued by the Pensions Superintendency in Chile.
The fine-tuning of existing monitoring systems in all Group units, which make a significant
contribution to the ability to detect suspicious operations made by any financial institution.
Arranging 70,751 training activities in all the geographical areas where we operate.
We also continue to work in partnership with governmental bodies and international organizations in
this area. To give two examples, we are members of the work group organized by FATF on money
laundering and terrorist financing, and participate in the Chile-Uruguay pilot plan on PEPs promoted by
GAFISUD.
BBVA’s pledges for 2013 are to remain faithful to its commitment to improve the Model for Managing
the Risk of Money Laundering, and to encourage unit supervision in this field through the Corporate
Prevention Department.
PML Training Activities
Prevention of FraudPrevention of Fraud
BBVA’s control model includes controlling cyber attacks that could have a material impact on the
Group’s results. These security controls are continually evaluated to check their effectiveness and
mitigate the risks defined in the corporate internal control and operational risk structure.
New security controls were established in 2012 to cover new risks and reinforce the existing control
model. The risk review and audit tests did not identify any material risks thanks to these effective risk
mitigation controls.
Internal AuditInternal Audit
In accordance with the Basel Committee guidelines, the BBVA Group’s Internal Audit area is set up as a
permanent, independent, unbiased and objective activity for consultation and evaluation of the
organization’s internal control and risk management systems with a view to aggregating value, making
processes more efficient and effective and helping the Group fulfill its goals. It is overseen by the
Chairman’s Office and is subject to the control and supervision of the Board of Directors Audit and
Compliance Committee, thereby guaranteeing the ethical commitment adopted in the Corporate
Governance System.
The Annual Audit Plan is drawn up by identifying the aspects toward which the Department efforts
should be focused. This procedure, linked to risk assessment as a way of identifying, assessing and
prioritizing business risks, also responds to the specific demands of internal customers, regulator
requirements and the department’s own experience.
The main projects undertaken in 2012 were:
Implementation of the new cross-cutting internal credit risk audit model, with the creation of
centralized analysis groups in each country that use a uniform working method and are globally
coordinated from Spain. Credit risk continues to be one of the primary focuses of Internal Audit,
through the review of global risk policies and analysis of credit risk quality. This year the focus has
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been on wholesale risk, using statistical criteria to select comparable portfolio samples for analysis,
as well as impairment alerts and indicators for selecting customers.
Projects falling within the customer-centric approach and the new customer-focused distribution and
relationship model include audits conducted at branches and remote audit procedures, the new
incentives model in Retail Banking in Spain and the control model in the new branch network in
Mexico. The Mexican model is part of the Ulysses Project, which consists of converting branches to
offer a lean service to customers, while working on alternative channels (Internet Banking) in the
U.S. and Mexico that make the customer relationship more flexible and streamlined.
Lean Organization involves redefining the Group’s concept of efficiency focused on creating value
for the customer. To this end, we have analyzed some processes designed to centralize
administrative operations and processes in Spain. In the same area and also related to suppliers, we
have worked on several procurement, premises and services projects in Spain, Mexico, U.S.A., Chile
and Peru.
The real estate risk group, which features specialists in this sector, reviewed the management and
specific operations area in response to the increase in the recovery process of foreclosed assets for
sale or lease and in response to the Group’s decision to build its own corporate premises.
We analyzed the security measures adopted in the different countries as part of the Information
Security Plan (PDSI). This aims to reinforce controls protecting confidential information, particularly
in credit card and banking processes.
In the fraud prevention area, Internal Audit has focused on identifying shortcomings in the control
processes and on developing, monitoring and analyzing potential fraud indicators, if necessary
performing further investigations through remote audits or on-site audits at the affected branches or
units.
We reviewed PML&TF policies in several countries in South America, U.S., Mexico and Spain to
ensure that they are in keeping with corporate policies and local regulations.
We launched the Quality Assurance plan to evaluate the quality, effectiveness and efficiency of each
stage of the internal audit process in order to promote ongoing improvement and the application of
Best Practices.
The BBVA Group’s Internal Audit area was reviewed by an external auditor from Ernst & Young (E&Y),
hired by the Group’s Audit Commission in accordance with International Audit Standards and best
practices. This auditor concluded that the BBVA Group’s Internal Audit area complies with
International Standards for the Professional Practice of Internal Auditing. The external reviewer’s
report also includes a benchmarking of IA at BBVA and an analysis in accordance with the E&Y
maturity model. Internal Audit is completing the drafting of an improvement plan, based on E&Y’s
recommendations.
We have made progress on the implementation of the global human resources management model
which will involve unified management of all of the auditors, regardless of their country they are
located in. In 2012, exchange of auditors between different units and regions was extended. The
global cataloging, evaluation and target-setting processes are already up and running, and
coordination in the selection processes is underway. The Global Training Plan will come into force
next year.
Progress was also made in technological support for the department and development and
implementation of new IT tools to the make the auditor’s job easier and increase the efficiency of
Internal Audit. Other progress includes implementation of the new paperwork documentation tool,
Pentana, adjustments in BBVA Audit to adapt to the new centralized risk audit methodology and the
development of a new Internal Audit scorecard.
Internal audit activities
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Responsible investment
Socially Responsible Investment Socially Responsible Investment
In 2008, BBVA undertook to integrate ESG aspects (environmental, social and corporate governance)
when one of the Group’s major asset managers, Gestión de Previsión y Pensiones (GPP), signed the
Principles for Responsible Investment (PRI) sponsored by the United Nations.
Socially Responsible Investment (SRI)
BBVA Asset Management (BBVA AM) has set up a clearly-defined roadmap with three core elements:
Integration of ESG criteria in the investment process in the pensions and funds area: This core
element covers equity and sovereign debt. As far as equity is concerned, there is a system of
leading, middle and lagging companies in each economic sector, identifying the main financial and
non-financial ESG risk factors to which an ESG rating is assigned. This fulfills a twofold objective:
aligning the investor’s individual interests with the company’s general interests; and investing in
companies with less risk of potential conflicts, negative news or demands that could affect their
stock prices. An external MSCI ESG analysis tool is used in this process, which covers European
companies. The inclusion of ESG criteria in the equity investment process has been a success since
the start of the year. It has ensured that pension equity portfolios do not include any companies that
are over-weighted in relation to the reference index and rated as falling behind in our best-in-class
model of ESG criteria. Since 2012, in order to improve reporting transparency, in the reports
submitted to the committees that control employment plans we have also included the ESG rating of
equity securities in which the fund invests. This year we have analyzed the model that we are going
to implement in the case of inclusion of ESG aspects in sovereign debt. In 2013, we will
permanently include them in pension plan equity portfolios. Since 2011 ESG criteria were also
introduced in due diligence processes that third party funds must exceed to be recommended by
BBVA AM.
Proxy voting: In 2012, voting rights have been exercised at all of the Annual General Meetings for
listed companies registered in Spain. An independent external provider, ISS, was used for this
purpose. In 2012 we extended this exercise of voting rights to European companies
Dialog with companies: We continued to actively participate in discussions forums such as Spainsif,
of which BBVA is an executive committee member and secretary, in order to promote best practices
for the inclusion of ESG criteria.
Volume and members of funds with CR Criteria
Equity investments under SRI management
Solidarity fundsSolidarity funds
In Spain, BBVA Solidaridad is a Mixed Income Fund which donates 0.55% of the Fund’s total assets
under management to a range of NGOs, with the investor being able to choose the NGO. BBVA Bolsa
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Desarrollo Sostenible is an Equity Fund that mainly invests in shares in companies that are considered
sustainable investment companies, i.e. it invests in companies that are able to include environmental,
social, ethical and governance opportunities and risks in their strategy and operating activities with a
view to creating value for the investor in the medium and long term. The fund also makes an annual
donation to the Foundation for Applied Medical Research (FIMA).
In Mexico, the B+EDUCA fund is a Social Responsibility fixed-income fund. The fund works as follows:
25% of the monthly return is directly donated to “Por los que se quedan” (For those left behind), a local
initiative that promotes children’s education by granting scholarships. BBVA Bancomer also charges a
lower fee for a fund of this type, and instead makes a direct contribution to this scholarship program.
All of the fund’s customers also receive a monthly letter of thanks containing information on how their
money has been invested, as well as a receipt for tax deduction purposes. In September 2012, Centro
Mexicano para la Filantropía (Cemefi), Alianza por la Responsabilidad Social en México (AliaRSE) and
Forum Empresa granted the fund the “Best Corporate Social Responsibility Practice” award, in the
“Community Engagement” category.
In 2011, BBVA AM Peru launched the fund called “BBVA leer es estar Adelante”(BBVA Read to move
forward), the first mutual fund in Peru set up to support a social cause. The investor donates one tenth
of the share value (fund price) to the “Leer es estar adelante”BBVA Continental Foundation. The “Leer es
estar adelante”program is a BBVA Continental Foundation initiative that aims to improve reading
comprehension amongst pupils in the third to sixth grade of public elementary schools.
In Chile, BBVA AM is in the process of launching “BBVA Educación Adelante”, another solidarity fund
through which the investor (corporate entity or individual) contributes a percentage to the most famous
foundation in Chile, el Hogar de Cristo, for educational projects. BBVA’s asset manager will also donate a
proportion of the amount collected to the fund. It will be the first fund of this type on the Chilean
market.
BBVA Employment FundBBVA Employment Fund
The BBVA Employment Fund continued to manage all of its assets according to SRI criteria in 2012, in
accordance with its investment policy. The Plan has adhered to the United Nations Principles for
Responsible Investment (PRI) since it joined in 2008.
Once again in 2012, a sustainability rating was assigned to the BBVA Employment Fund by an
external analyst, with a two-fold objective: to make the process more transparent and to guarantee
application of SRI criteria.
PensionsPensions
Pensions and Insurance (America)Pensions and Insurance (America)
Over recent years, BBVA Pensions and Insurance (America) has entered into various collaboration
agreements with leading internationally prestigious multilateral organizations, with a view improving
pension systems and ensuring adequate pension cover for people around the world.
Pension plans: Volume and Members
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More specifically, in 2012 BBVA collaborated with the Financial Affairs Division of the Organization for
Economic Cooperation and Development (OECD) on two research projects, one on Retirement Savings
Adequacy and the other on Longevity Risks. This research aims to improve the design of pension
systems through proposals that encourage greater contributions and to propose methods to update
mortality tables so that life annuities take into account forecasts of future longevity.
The Bank also collaborated with the Inter-American Development Bank (IDB) on the publication
“Cobertura Universal en Pensiones: ¿una posibilidad real o una utopía para América Latina y el
Caribe?”(Is Universal Pension Coverage a a Real Possibility for Latin America and the Caribbean?), which
gives an overview of the measures that can be taken to increase the coverage of pension systems
without harming productivity, and the minimum requirements that must be established regarding public
finance and the institutional framework in order to reach agreements and make any changes to the
system sustainable.
Another project in partnership with the World Bank consisted of the publication of a book entitled
“Matching Contributions for Pensions”. This covers the main findings of a study on matching-
contribution pension schemes, in which the employees’ contributions are matched by employers, the
state, or both, in order to encourage participation in pension systems. These schemes have been
created as an alternative to narrow the current deficits in pension systems. They are becoming
increasingly popular in both poor and rich countries.
Also, since 2011, Pensiones y Seguros América has had a representative in the exclusive Asia-Pacific
Infrastructure Partnership (APIP) as part of the Asian-Pacific Economic Cooperation Forum. This forum
of experts provides solutions to the governments of the APEC member countries for infrastructure
development and funding with the aim of improving growth and the quality of life for citizens.
In mid-2012, BBVA announced its decision to start studying strategic alternatives to sell its mandatory
pension business in Latin America. Despite the extensive appeal of this business, the Group
recommends starting this sale process on the grounds that it has very little relation to the Group’s core
business of universal banking. At the same time, BBVA is maintaining its strategic commitment to the
Latin American market and will continue to invest in the region.
The alternatives considered included the complete or partial sale of the pension businesses in Chile,
Colombia, Mexico and Peru, which is expected to be complete some time in 2013.
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Customer focus
Quality, satisfaction and customer serviceQuality, satisfaction and customer service
BBVA is, and will continue to be, a customer-centric bank that improves people’s experience in every
point of contact. In the current increasingly competitive economic climate, focusing on customers is a
strategic goal for any company, because achieving customer satisfaction and loyalty is the best way of
increasing profits. BBVA achieves this by including the customer in its business model, developing
global strategies for growth, driving differentiation and ensuring recognition for our customer-centric
approach.
The first step toward improving the customer experience is getting to know them and finding out what
they expect from their relationship with us. To find out what they think, we have a methodology, called
the Net Promoter Score (NPS). This gives us an insight into our customers’ expectations and how they
assess (and recommend) their experience with us.
In 2012 we continued to extend the NPS methodology throughout the Group, which as well as being an
indicator can also be used as an internal management and coordination system. This shows us what
customers consider to be the relevant pillars of the business model in order to identify critical processes
and make the necessary changes.
Individual customer satisfaction levels
We take customers’ opinions into account across the entire value chain:
We put ourselves in their shoes when we take action and make decisions.
We listen to them to understand their needs.
We develop products and services according to their requests.
We prioritize communications based on their needs and preferences.
We enhance customer experience at every point of contact.
We measure our results based on what customers expect from us.
To sum up, the customer-centric approach consists of: maintaining a steady relationship with customers
and seeing things from their point of view so that we can anticipate and meet their expectations and
even pleasantly surprise them.
Average time for settling a complaint
Number of complaints before the banking authorities
One of the BBVA Group’s most important tools to improve customer satisfaction is the Ombudsman.
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In the case of BBVA in Spain, the Ombudsman is an independent figure. In 2012, there were two
important aspects in terms of the BBVA Ombudsman’s responsibility and role:
The full and effective implementation as of 1 January of the new BBVA Group’s Regulations for
Customer Defense in Spain, approved by the Board of Directors on September 27, 2011 and
deemed by the Bank of Spain on December 19, 2011 to be in keeping with applicable regulations.
The new Regulations have affected the powers assigned to the BBVA Customer Care Service and to
the Customer Ombudsman. The idea was to improve the customer complaint service by creating a
simple channel to resolve any customer complaints quickly and effectively. At the time of writing,
the Ombudsman considers that these goals have been fulfilled.
The 2012 goals set in the Ombudsman’s 2011 Annual Report, which were:
Continue to promote compliance with regulations on transparency and
customer protection, sharing criteria and possible actions for improvement
and placing a special emphasis on the role of acting as a mediator between
customers and institutions to find amicable solutions that comply with
regulations, thereby enhancing customer management.
Improve customer care, eliminating inconsiderate behavior.
Reword the Ombudsman’s resolutions, using user-friendly language.
In Mexico, any customer or user complaints regarding BBVA Bancomer’s products and services are dealt
with via the channels created for that purpose. These channels include branches, Línea Bancomer and
Bancomer.com. If the complaints or claims are not settled through these channels, the customer can
use UNE Bancomer as a second resort. The UNE is in charge of receiving, interpreting, analyzing,
checking and settling complaints.
Based on our customer-centric business model, each case that the UNE receives is sent to the internal
areas directly responsible for resolution or enforcement. This procedure aims to provide two immediate
benefits:
By analyzing and resolving each case, the areas can identify immediate improvements to the
processes and so enhance our customers’ experience.
The statistical information that the UNE compiles is shared with the business areas involved so that
they can coordinate activities with a positive impact on the products and services we offer our
customers in terms of security and information.
In collaboration with CONDUSEF (National Commission for the Protection of Users of Financial Services),
UNE Bancomer has played a prominent role in implementing projects to benefit bank users in Mexico:
Electronic processing system: A tool designed for the electronic processing of complaints between
CONDUSEF and financial institutions, thus eliminating hard copy and speeding up response times.
The average response times from banks was reduced from 53 days in 2006 to 18 days in 2012.
Instant processing via one telephone call: A process consisting of an instant response to the
customer complaint via one telephone call from CONDUSEF to the financial institution, eliminating
the need to involve the regulator in the usual way. Any complaints that fit the criteria for this
process can be solved via one telephone call, with no paperwork.
Telephone settlement: This service, in coordination with state delegations, is for users who are
outside the town where the office is located. It means they do not have to make the trip and saves
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them time and transport costs. The project model is currently being defined.
Financial literacy: The UNE participates in the “No tires tu dinero” (Don’t throw your money away)
radio program as part of BBVA Bancomer’s pledge to promote good practices and the use of
financial products and services. The radio presenter asks customers to share their problem on air,
and a representative from the bank gives a response on the spot. This has allowed us to:
Resolve the specific problem.
Give recommendations to all the listeners in relation to the specific
problem, in order to avoid a recurrence.
Go into topics that cause the greatest concern for listeners in depth, such
as good credit history, financial health and using credit cards properly.
Invite people to sign up for the bank’s free financial literacy courses.
Promote BBVA Bancomer special offers, new products or security measures
relating to use of the bank’s products and services.
Finally, in 2012 the following multi-channel banking initiatives were undertaken in order to make life
easier for our customers:
BBVA Provincial (Venezuela) set up a special service for disabled people, the elderly and pregnant
women to help them to conduct their banking transactions at branches more conveniently and
safely, with comprehensive support. Strategies have also been put in place to make the Zona
Express service more efficient for customers and users, cutting down queuing times at branches
and improving the complaints process.
The First Contact Resolution initiative in the mobile channel has also been launched in BBVA
Colombia. Through First Contact Resolution, customers can submit a complaint or claim via the
mobile channel and receive an instant response in their favor or an explanation of the reasons for its
rejection. Response times and quality have improved substantially.
In 2012, BBVA Contigo was launched in Spain. This is a remote, personalized management channel
for individual customers. Customers can contact their personal advisor via web cam on the bbva.es
website, with complete security. BBVA Bancomer also launched the new «Dinero Móvil» (Mobile
Money) service allowing users to send money anywhere in the country and giving customers access
to low-cost banking services. In the United States, the Passion for Customers Accelerator allows
sales managers to offer a comprehensive customer service. One of the features of the tool is that it
alerts managers about complaints so they can take action within 24 hours.
No. of ATMs by business units
Transactions by channel
Transparent, clear and responsible (TCR) communicationTransparent, clear and responsible (TCR) communication
There has been a general loss of confidence in the financial sector in recent years. To recover this loss
of confidence, BBVA is working to make it easier for customers to make better financial decisions on
two fronts:
Financial literacy through the «Plan global de educación financiera 2008-2012» (Global Financial
Literacy Plan 2008-2012).
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Simplicity in the product range: communication, processes and contracting of products and
services. One of the attributes of simplicity is transparent, clear, responsible (TCR) communication in
all points of contact and relations with the customer.
Local TCR initiatives have been launched, with the main progress in 2012 being:
In Spain, Customer Experience (CE) analyzed a case of TCR communication to find out the current
situation regarding customer communication and the areas involved. It learnt that the main areas
for improvement are the length of legal clauses, the many legal requirements requested, the
number of pages in contracts and the use of unclear language. Reviews are currently underway to
improve a framework contract in order to make it shorter and include more products. Customer
Experience has also initiated a line of work with Legal Services and the other areas involved to
achieve written or verbal communication that complies with both legal requirements and the TCR
principles. The initiative covers communications through any channel or point of contact with the
customer and mainly deals with contractual documentation, telephone calls,merchandising and
customer deliverables.
In Peru, BBVA Continental is working to improve customer communication and financial literacy,
since most users think that bank contracts are unclear or confusing. Our contracts are being
reworded, using simple, colloquial and user-friendly language and cutting out a lot of the legal and
financial terminology, to make them easier for customers to understand. The contract procedure is
thus streamlined without losing sight of legal security. The first stage of the project included the
simplification of contracts which, in accordance with regulations on transparency of information for
customers in the financial system (mainly targeted at individuals), require approval from the
Superintendency of Banks, Insurance and Pension Fund Administrators (SBS). These included
mortgage loan, consumer loan and credit card contracts, and general clauses applicable to liability
transactions (deposit, current and saving account contracts). Other BBVA contracts are also
gradually being simplified under the project. The project has resulted in easy-to-understand
contracts that are interactive and include explanatory notes and examples for customers.
In Chile, as part of the transparency policy the BBVA Transparentewebsite is constantly updated to
inform people about campaigns, fees and charges. As well as making the necessary changes to
adapt to new Financial National Consumer Service (SERNAC) regulations, a special menu has been
created on this website to clarify the new legal provisions. Our branches have also been given
electronic displays to standardize information on fees for customers and ensure they are published
correctly. In addition, we now give customers a promotional certificate when they open a product as
a way of standardizing information on sales campaigns.
In Colombia, in 2012 BBVA began to implement several measures to make customer communication
easier, based on TCR. The number of documents required for customers to contract saving or
deposit products was reduced to just the Loyalty Form and photocopy of the identity document,
and the Customer Loyalty Form was restructured, reducing the content by 60%.
Responsible AdvertisingResponsible Advertising
BBVA rigorously complies with local regulations concerning product information and labeling in the
countries where it operates. In Mexico, we continue working with the ABM (Association of Mexican
Banks) and the National Publicity Council. In Spain, BBVA is a member of Autocontrol (Association for
the Self-Regulation of Commercial Communication) and the AEA (Spanish Advertisers’ Association),
which certifies compliance with good practice and transparency codes for advertising. In the United
States, BBVA Compass is part of the Federal Deposit Insurance Corporation (FDIC) and the Federal Trade
Commission (FTC), which ensure that financial institutions practices are ethical.
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In 2012 we also continued to work on a corporate advertising management model with common
directives for the entire Group and on relations with advertising providers. This initiative incorporates
corporate responsibility in any advertising that the Group undertakes.
Access to creditAccess to credit
BBVA is acutely aware of and wants to solve the serious problems that small Spanish businesses face
when applying for a loan. We believe that lack of access to credit put an end to many business projects
and the jobs that these could create. We are therefore looking at new solutions for our range of
products and are focusing on companies that need financing to give their business that extra push.
BBVA has not restricted lending in recent years. However, there is less ability to repay, and falling
incomes have led to reduced demand, forcing the bank to adapt accordingly. Since 2010, BBVA has
anticipated the impact of the crisis and implemented a series of instruments, circuits and procedures
(“Anticipa” plan) that provide a range of management guidelines offering a customized solution to
certain customers in accordance with their financial needs at any given time.
Business activity in Mexico is reflected in the growth of the loan portfolio balances at the close of 2012.
The buoyant retail portfolio, which includes consumer finance, credit cards, individual mortgages and
loans to small businesses, amounted to 20,481 million euros, 9.6% up compared with the close of
2011. It is worth pointing out that BBVA Bancomer maintains an active involvement in the growth of
SMEs, and this is reflected in the annual growth of 26.5% in the balance of this segment. The successful
SME program, which aims to provide added-value solutions for the efficient handling of company cash,
such as payroll administration, mutual funds and tax payments, has added over 100,000 customers in
2012. There has also been a steady growth in credit cards and consumer finance. At the close of 2012
more than a million consumer loans were granted, including payroll, auto and personal loans. Revenue
from credit card purchases remains positive, with an increase of 14.1% on the close of 2011.
Residential mortgages have grown steadily over the year, with the result that BBVA Bancomer has
maintained its leading position in the market, with three out of every nine mortgages granted by banks
and Limited-Object Financial Companies (Sofoles). In the wholesale portfolio, which includes loans to
large corporations, medium-sized companies, financial institutions and the public sector, corporate
loans performed particularly well, with double-digit growth throughout the year. For its corporate
clients, BBVA Bancomer participates actively in debt issues on capital markets, where it remains market
leader in Mexico, with a share of 25.1% at the close of December 2012, according to Dealogic.
Security and protectionSecurity and protection
In order to verify compliance with security measures regarding personal data processing in accordance
with Section VIII of the Implementing Regulation (RD 1720/2007) of Organic Law 15/1999, on Personal
Data Protection (L.O.P.D.), the necessary biennial audits on the security measures implemented in 21
BBVA Group companies in Spain were conducted during 2012. No significant shortcomings were
detected in any of them.
The process of adapting, improving and standardizing the personal data protection activities that must
be carried out in each jurisdiction where the BBVA Group operates was also continued in 2012.
Changes have been introduced in BBVA Bancomer and BBVA Banco Continental to comply with the
requirements established under the Federal Law on Personal Data Protection in Possession of Private
Entities in Mexico, and under Law 29733 on Personal Data Protection, in Peru.
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Business ContinuityBusiness Continuity
In 2012, 138 business continuity plans were implemented in 24 countries in which BBVA operates.
Tests were run on each of these plans that enable them to be updated and to inform the Business
Continuity Committee of their situation.
Some of the plans, as well as the crisis committees, have had to be activated as a result of events of a
catastrophic nature that have altered BBVA’s normal activity in some locations. The damage caused by
Hurricane Sandy in New York was a headline event in 2012. Other significant events include protesters
blocking access to the Bancomer head offices in Mexico City and a cyclone in Uruguay. In all of these
cases, through the implementation of business continuity measures, BBVA was able to continue to
render its critical services to customers and to comply with its obligations to society and the various
authorities.
In light of events in these past years, we have learned the importance of “crisis management” through
Continuity Committees and specific plans, the preponderance of human resources and logistics factors,
the impact-resistance of technology and the resilience of physical security and information.
Responsible product and service designResponsible product and service design
BBVA pledges to progressively integrate maximum responsibility criteria across the whole value chain,
from the development of products and services to their advertising. The integration process covers
products and services geared toward groups with specific needs, as well as those that are larger and
have a greater scope. In 2012, the following local initiatives took place:
In Mexico, we continued to implement the «Paga bien, paga menos» (Pay well, pay less) project,
which allows customers to reduce their interest rate through prompt payment. In 2012, 53% credit
card holders participated in this program. This service is aligned with the credit health subjects
taught at BBVA Bancomer financial literacy workshops that encourage responsible credit card use.
In Colombia, BBVA participates in the Government’s Conditional Coverage for Mortgage Loans
Program. This consists of subsidizing interest rates on certain mortgage loans for low-income
individuals and families. In addition, BBVA’s Sustainable SME Award ceremony was held this year for
the third year running. This award gives recognition to and encourages the competitiveness of
domestic SMEs, taking into account financial results and the use of technology, as well as good
environmental and social practices.
BBVA Spain and Portugal has renewed its collaboration agreement with the National Federation for
the Self-Employed (ATA), which has 500,000 self-employed and 824 professional organizations as
members. They will be given access to exclusive financing conditions. In 2012, BBVA Seguros also
reimbursed the premium it paid in 2011 to all of its clients who had home insurance policies with
BBVA Seguros and who were evacuated from their houses as a result of the volcanic activity that
took place on the El Hierro island in the final months of 2011.
Entrepreneurship and employment supportEntrepreneurship and employment support
EntrepreneurshipEntrepreneurship
The current economic climate now more than ever calls for measures to boost business activity and
support enterprise.
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BBVA is involved in various projects to help entrepreneurs and contribute toward building a better
environment to foster enterprise. Social and technological initiatives are one of the priorities.
Our aim is to find a solution for an entrepreneur’s every need, including skills, know-how, coaching,
visibility, networking and financing.
BBVA is therefore backing innovative technological projects promoted by entrepreneurs and startups
around the world. Each year, our «OpenTalent» competition selects two winning projects and provides
them with a €100,000 investment in the form of a partnership or shareholding. To give these projects a
higher profile, make them more marketable and boost growth, they are presented at Red Innova. This is
an international conference on innovation, Internet, creativity and entrepreneurial spirit, where Latin
America meets the world.
«Momentum Project», launched in Spain in 2011, provides comprehensive support to budding
entrepreneurs. In 2012, the program was held for the second time in Spain, and for the first time in
Mexico and Peru. More information in the Community Involvement chapter.
We also support the world’s most important conference on emerging technologies, Emtech, organized
by MIT (Massachusetts Institute of Technology). This annual conference, open to leaders in the
business, academic and technology sectors, entrepreneurs and investors, is led by experts who analyze
the future of cutting-edge technologies across many fields, including smart cities, video games,
biotechnology, nanotechnology, robotics, the media and the Internet. In 2012, Malaga, Spain was the
host city.
In Spain, Colombia and Mexico we sponsor tr35, a competition organized by MIT to select and give
recognition to ten outstanding innovators under 35 years old. One of them is named “Innovator of the
Year” and another “Solidarity Innovator of the Year”.
In Mexico, BBVA Bancomer has set up «Yo Soy Pyme» (I’m an SME), a meeting space for entrepreneurs,
businesses and institutions that support SMEs. Through “Emprender desde la Universidad“ (Fostering
Entrepreneurship in Academia) and in partnership with the university Tec de Monterrey, this meeting
space promotes entrepreneurial spirit and financial literacy among university students.
Through its partnership with the Tec de Monterrey university, BBVA Bancomer Educational and
Productive Centers and Social Incubators offer micro-enterprises the skills they need to kick-start and
consolidate their business. This initiative has its origins in the Volunteer Centers program that the BBVA
Bancomer Foundation has promoted for the last 25 years and is currently present in 17 cities around
the country.
The training offered by these centers has benefited over 16,000 people in 2012 and contributed to the
creation of 970 companies. The project has been assisted by more than 2,000 student-tutors from the
TEC, who have carried out their obligatory social service in the centers. They have also become
involved in other BBVA Bancomer projects such as Financiera Ayudamos, «Yo Soy Pyme» and the
financial literacy workshops «Adelante con tu futuro» (Forward with your future).
In Argentina, BBVA Francés sponsors the Agriculture Entrepreneur Award, which gives recognition and
incentives to entrepreneurs, producers and professionals in the agriculture sector who have innovated
in their companies and seen an increase in their profits through innovation.
BBVA Chile’s «Emprendedores Sociales» (Social Entrepreneurs) program gives higher technical education
students the opportunity to innovate and build sustainable business projects, training them with the
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necessary techniques and social skills to create, plan, and implement social enterprise projects.
In Venezuela, the BBVA Provincial Foundation awards integration scholarship holders scholarships to
study at the School of Economics at the UCAB (Universidad Católica Andrés Bello). These studies
include ongoing social enterprise training.
Employment supportEmployment support
BBVA is concerned about and affected by Spain’s difficult unemployment situation. In order to support
the social role that entrepreneurs play as job creators, early in 2013 we will launch the «Yo Soy
Empleo» (I am employment) program. This will boost job creation through direct donations of €3,000
and €1,500 to SMEs and the self-employed who create jobs. The initial target is 10,000 jobs.
We have designed a comprehensive process that starts with collecting job offers on the website,
through to selecting candidates (in collaboration with Infoempleo) and ending with payment of the
money to the employer once the contracts have been checked.
This initiative is also supplemented by a face-to-face training program at the top business schools in
Spain. This will help equip employers with the knowledge and skills to develop and grow their
businesses.
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Human Resources
DiversityDiversity
Our employees’ profileOur employees’ profile
With more than 115,000 employees and operating in 32 countries, the BBVA Group’s team includes
professionals with widely diverse backgrounds. BBVA strives to attract, retain and boost talent, always
with respect for diversity and inclusion.
Workforce by age and gender
Average length of service of workforce
Employees by professional category
Non-discrimination and equal opportunityNon-discrimination and equal opportunity
In 2012 we continued to drive forward the Global Gender Diversity Plan. This consists of implementing
corporate initiatives in every country in which the Group operates to promote and guarantee equal
opportunity. The Global Gender Diversity Plan is based on three lines of action: maternity, professional
development and awareness and has eight corporate initiatives:
Maternity:
Cover for employees on maternity leave using people with a similar level of
skills.
Corporate mentoring model to make the return after maternity leave
easier.
Post-maternity follow-up interview starting 9 months after the return to
work.
Promotion and development:
Keeping track of figures on the professional development of female
employees in the Group.
Foster identification and development of the talent of female employees in
the Group.
Inclusion of gender diversity in the evaluation of the actions by managers.
Awareness:
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Inclusion of key diversity concepts in the Group’s Leadership Training
programs.
Two global e-learning courses on diversity awareness, targeted at
Executives, Team Leaders, and other employees.
The Group has established its own virtual networking tool called “genera!” It is available to any Human
Resources employee, regardless of their area or country, and is designed to share opinions, experiences
and news related to gender diversity.
In addition to these corporate initiatives, each area and country has established local gender diversity
measures to complement and bolster the plan. For example, in Spain, the position of Equal Opportunity
Officer has been created in the human resources management areas to promote and guarantee the
principles of gender equality. A protocol has also been introduced to deal with psychological
harassment that reinforces the company’s culture of equal treatment and the principles of the Code of
Conduct and the Equality Plan. Finally, we collaborate with the Ministry of Health, Social Services and
Equality in raising awareness about the prevention of gender-based violence.
BBVA’s support for gender equality principles, as set out in its Code of Conduct, Diversity Plan and
Equal Treatment and Opportunities Plan, has earned it the Equality Seal of Distinction. It is awarded by
the Ministry of Health, Social Services and Equality in Spain as a stimulus and recognition to companies
that are committed to equality and apply exemplary gender equality practices.
BBVA also continues to actively comply with its commitments in this regard: as signatory to the United
Nations Women’s Empowerment Principles, “Equality means business”; as signatory to the European
Diversity Charter; and as member of the Catalyst global network that promotes diversity and inclusion.
Distribution of functions by gender and professional category
Resignations by gender
Contracts by gender
Women in managerial positions with children in their care
Work/life balanceWork/life balance
In 2012, we continued with the voluntary measures taken by mutual agreement which combine an
improvement in efficiency with the flexibility required to balance work and personal life. In Spain, these
measures include the possibility to take a period of 3 to 5 years off for personal or professional reasons,
leave for postgraduate studies or reductions in the work day. In 2012, BBVA also renewed its Family-
Responsible Company Certificate (EFR) in Spain. This certificate is awarded to companies that promote,
implement and follow up measures aimed at integrating people from different backgrounds and
encouraging a work/life balance. We also renewed our membership of Madrid City Council’s Concilia
Network, which was set up to further new business practices that motivate and encourage other
companies in Madrid to achieve a work/life balance.
This issue is covered in greater detail in the Group’s local CR reports.
Recruitment and remunerationRecruitment and remuneration
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Against a background of economic crisis and job losses, BBVA has created a net total of 3,773 jobs for
the whole Group, of which 59% were filled by people aged under 30. Most were hired in the country of
origin, and as regards management posts, 88% were recruited locally.
The base salary for any professional category is equal independently of the gender. As we reported in
2011, pay levels within BBVA are determined by the degree of responsibility of the position held and
the professional experience of each person, with full respect for each employee’s special nature and no
type of discrimination whatsoever. Variable salaries are maintained as an additional incentive, which
are awarded in accordance with the fulfillment of targets set each year in relation to individual
performance, the performance of the unit to which each person belongs and the performance of the
Group unit. In line with the principles of equality set forth in BBVA’s policy, males and females receive
exactly the same treatment.
Recruitment of employees
Discharge of employees
DevelopmentDevelopment
BBVA’s internal selection processes are announced on an internal platform called “apúntate”, available to
anyone interested, in order to guarantee that professional development and promotion are transparent
and objective.
Human Resources monitors each process to ensure the tool is used effectively. In 2012, more than
4,800 positions were posted, for which there were 16,000 applicants. 79% of vacancies were filled
thanks to the tool Apúntate.
TrainingTraining
In 2012, the core areas of action that make up the Campus BBVA model were further defined. A
specialized and global training system was designed which is continuously aligned with and adapted to
the corporate strategy.
This year, more than 5.4 million hours of training took place within the Group, of which more than 63%
was via e-learning. This method gives a more prominent role to technology and ensures a more efficient
and flexible content distribution.
In 2012, the main focus was on training designed to optimize our relationship with customers. Progress
was also made in designing and distributing global know-how in response to the new staff profiles
demanded by the Group and the industry.
General training data
This year specific Corporate Responsibility training has once again been given special importance in the
Group. The “Corporate Responsibility and Reputation” training program is available for all Group
employees on the e-learning e-campus training platform. The Group has also shared its experience at
the Campus Forums, including “VI Conferencia Internacional de ABC sobre Europa y América: Sector
financiero y recuperación económica” (Sixth ABC International Conference on Europe and America:
Financial sector and economic recovery), “Momentum Summit”, “Governance on Microfinance
Institutions”, among others.
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Working conditionsWorking conditions
Freedom of association: labor union representation and settling disputesFreedom of association: labor union representation and settling disputes
BBVA believes that dialog and collective bargaining are the best way of settling disputes and reaching
agreements. In accordance with legislation in force in the countries in which BBVA operates, labor rights
and conditions are addressed in the regulations, agreements and arrangements that each company
signs with the labor union representatives.
In BBVA Spain, the collective bargaining agreement applies to the banking sector and is in effect for the
entire workforce. There are also company agreements that complement and implement the stipulations
of the collective agreement and are signed by the labor unions sitting on the workers’ committees, who
are elected every four years by direct, secret and personal suffrage. The labor union representatives on
the workers’ committees in the company are informed of any relevant changes to the organization of
labor that may take place in the Company, in accordance with the provisions of the law. In October
2012, UNNIM Banc signed a collective labor agreement to restructure its workforce and labor
conditions, with a view to striking a balance between the interests of all the parties involved, and
ensuring the organization’s viability and future stability.
Health at workHealth at work
The BBVA Group has this year again shown its commitment to this field by undertaking training
activities to increase preventive measures, adopting legal measures agreed with worker representatives
and adopting good work practices.
The Prevention Service has given technical advice to the Group’s units and taken part in committees
and meetings as a way of promoting health and safety in the company. In 2012, the BBVA Prevention
Service took an active role with expert groups organized by the CEOE to “analyze employers’
perceptions in identifying and evaluating psych-social risks based on methodological criteria and
needs”.
In June 2012, as part of a series of awareness activities within the company, the BBVA Prevention
Service organized Technical Conferences to analyze the implementation of prevention coordination in
the different areas of the organization.
Several preventive campaigns were conducted in Spain as part of Health Supervision: eye care, road
safety (including specific medical recommendations to promote safe driving), nutrition and diet, sun
care and heatstroke campaign for the summer season, diabetes prevention, early prostate cancer
detection, skin cancer prevention, pregnancy protocol reminder for all female employees, continuance
of give up smoking campaign, and flu prevention campaign. On a local level, in Argentina there were
stress management and first aid workshops, and in Peru, awareness activities through the T-
COMUNICO internal channel and first aid campaigns.
In Venezuela, the Occupational Health and Safety Service organized health conferences, including flu
vaccination days for employees and their children, dental care days for children and adults, eye care
days and discounts on frames and contact lenses for employees and direct family members, gynecology
services, and stress management methods to prevent mental disorders. In the United States, back in
2001 Virgin HealthMiles was launched as a fun, effective and rewarding way for employees to look after
and improve their health. When members develop healthy habits and do exercise to prevent a
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sedentary lifestyle, they earn HealthMiles. The activities are monitored using a pedometer called
GoZone and a customized website called LifeZone. The more physical activity members do, the more
HealthMiles they earn and receive certain rewards. At each reward level they receive Health Cash for
their efforts, up to a total of US$800 during the first 12-month cycle. To win cash, the participants can
also improve their health, which leads to fewer medical costs. This means lower general medical
expenses for employees and for BBVA Compass.
We have also been involved in healthcare activity, with more than 4,400 medical consultations, more
than 4,400 nurse visits and 150 emergencies seen to in Spain, and have provided medical assistance in
response to robberies, in accordance with the set protocol. Blood donation campaigns have also
continued, in conjunction with the relevant regional health departments.
Absenteeism rate
This issue is covered in more detail by country in the local CR reports.
Work Satisfaction SurveyWork Satisfaction Survey
In 2012, the Employee Satisfaction Survey was conducted across the Group. Every two years this
survey aims to discover the opinions of the BBVA team with a view to identifying areas for
improvement. More than 105,000 people took part in the survey, with 77% completing more than two
thirds of the survey, five points higher than last time. The global satisfaction rate was 76%, three points
higher than the last survey in 2010, and seven points higher than in 2008.
In almost every Group unit and in the main survey indicators, every aspect that was assessed, except
one, the score was maintained or improved this time round. As a result, the overall indicator was three
points higher than in 2010.
As in the previous poll, the most valued aspects in 2012 were those related to the treatment of people
in BBVA, the sense of pride in belonging to the Group, and above all the potential for future growth
offered to the entire BBVA team. This growth is the result of more than 150 improvement plans
implemented by the various units over the last two years. Following the analysis of results, it is now
time to repeat the cycle. In other words, new projects have to be identified with the same aim of
improvement. These must be developed before the next poll, which will take place in 2014.
Passion for peoplePassion for people
The «Pasión por las Personas» (Passion for people) corporate program was created in 2005. Since then
it has been a core feature of the Group’s value-added proposal to its current and potential employees. It
balances initiatives based on reason, usually financial in nature, and others based on the emotions,
closely related to personal satisfaction and the pride of working for and belonging to BBVA.
In the first category, deals are reached with companies that allow our partners to benefit from major
discounts on a wide range of products and services.
The second category of initiatives promote sport, culture and volunteer work among employees and
their families. Some of the activities undertaken in 2012 include:
The BBVA «Solidarity Fun Run», to raise money for education. This year more than 50,000 people
participated in events held in Chile, Colombia, Spain, Mexico, Uruguay and Venezuela.
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«Campus de la Liga BBVA» for employees’ children, with the participation of 145 children between 8
and 13 years old from Argentina, Spain, Mexico, Chile, Colombia, Panama and the U.S. Sports and
education come together through educational and training workshops.
In Mexico and the U.S. we arranged for more than 1,000 children in each country to spend a day at
work with their parents. This taught them about their professional activity and brought the
employees’ families and the company closer together.
“Día del Ahorro Infantil 2012″ (Teach Children to Save Day) in Mexico, as part of an initiative led by
the Association of Mexican Banks. BBVA talked with elementary school children about the
advantages of saving and how a bank can help them.
“Adelante con tus sueños“ (Forward with your Dreams) in Argentina. This is an educational
workshop in the form of a theater production, targeted at elementary school children to teach them
about the importance of properly managing money, saving, responsible consumption and the role
banks play in society.
Corporate volunteer work/community serviceCorporate volunteer work/community service
The BBVA Group’s employees are involved in initiatives for participating in social projects where their
technical knowledge and personal skills can be valuable. In 2012, 4,334 employees (or 4 % of the total)
participated in volunteer activities.
We also took part in the “Corporate Volunteer Cases” debate at the International Summit on Volunteer
Work Innovation 2012 held in Madrid. This summit brought together over 200 public, private, and non-
profit organization leaders from around the world in order to explore innovations in the volunteer
system as a way of meeting the challenges presented by unemployment and economic development.
In Spain, the BBVA Volunteer Office, which is run by retired employees, maintains its commitment to
collaborate with the most disadvantaged groups and other community, educational or environmental
initiatives. In 2012, we stepped up our involvement at a local level by creating the role of Regional
Volunteer Delegate to foster volunteer work among employees and local organizations.
The main volunteer projects carried out in 2012 were the «Valores de futuro» (Future values) financial
literacy program, computer literacy courses and environmental reforestation initiatives such as the
Bosques BBVA (BBVA Forests) conference.
Main volunteer work projects Spain
In Mexico and South America our volunteers are primarily active in the «Niños Adelante» (Forward,
children) integration scholarships program. Employees in Mexico tutor students who have received
scholarships from the Bank. In all, 796 employees have sponsored more than 15,000 children with
scholarships whose family members have emigrated and who are studying at high school with excellent
qualifications.
Similar environmental initiatives have also been carried out as part of corporate volunteer programs in
different countries. In Panama reforestation conferences were held with volunteers, with a very good
uptake by the employees taking part. In Argentina, BBVA Banco Francés launched the “Concurso de
proyectos solidarios” (Solidarity project competition) as part of the corporate volunteer program to
support the best ideas in partnership with its employees.
Corporate volunteer program in Latin America
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In the U.S., employees were given the opportunity to participate in social programs through the BBVA
Compass Volunteers program. A total of 1,816 employees spent 68,739 hours on volunteer activities,
including financial training and donating 10,649 books through the «Leer es importante» (Reading is
important) literacy initiative.
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Responsible procurement
In 2012 BBVA’s purchases totaled €5,832 million. This represents a significant contribution to the
development of our 6,964 suppliers around the world.
Number of suppliers and annual turnover by country
Procurement procedure governing principlesProcurement procedure governing principles
BBVA’s relationship with its suppliers is governed by the Group’s Code of Conduct and is based on
respect for the law, commitment to integrity, competition, objectiveness, transparency, value creation
and confidentiality.
This Code also includes a number of procurement principles that apply to all those who take part in the
procurement process. At BBVA our aim is that our suppliers comply with our social and environmental
standards, as well as applicable legislation and the United Nations Global Compact principles.
Supplier approval processSupplier approval process
The Global Procurement System technological platform supports every stage of the procurement
process (budgeting, purchases and finance).
In 2012 we continued to expand this system to new geographical areas and functions. By the end of
2012, it had been fully implemented in Mexico, Peru, Colombia and Chile and in the process of
implementation in Argentina and Spain.
Supplier approval in Spain
Global Responsible Procurement PolicyGlobal Responsible Procurement Policy
The Group’s Responsible Procurement Policy was approved in 2012. This integrates social and
environmental aspects into the entire procurement process. A package of policy measures were also
approved and will be implemented in 2013.
BBVA grants priority to local suppliers. In 2012, procurement transactions negotiated at a local level by
the different countries where the Group operates accounted for 64% of the total amount awarded.
In 2012, the BBVA Compass Procurement team introduced its Supplier Diversity Recognition Program,
one of the most noteworthy local initiatives. The recognition program provides a stimulus to the
Procurement team that will advance spend with diverse companies, promoting strategic implications for
future long-term relationships with higher levels of sustainability. This accomplishment is critical to
moving forward our long-term objective of institutionalizing the inclusion of supplier diversity
throughout our procurement procedures.
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In recent years a biennial survey has been conducted on suppliers to find out their level of satisfaction.
These surveys are being conducted and results will be available in the first quarter of 2013.
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The environment
As a financial institution, BBVA has a significant potential impact on the environment through the
consumption of natural resources and the emissions generated, and in particular through its products
and services, especially those related to financing, asset management and supply chain activities.
BBVA has therefore made a far-reaching commitment to the environment and has signed the main
international agreements in this respect, such as the United Nations Environment Program Finance
Initiative (UNEP FI), the Equator Principles, Principles for Responsible Investment (PRI), the United
Nations Global Compact and the Carbon Disclosure Project. BBVA has also established a global
environmental policy which is supervised by the Eco-efficiency and Responsible Procurement
Committee.
Global Eco-efficiency Plan and environmental footprintGlobal Eco-efficiency Plan and environmental footprint
The Global Eco-efficiency Plan (GEP) was launched in 2008. We were the first Spanish financial
institution to launch an initiative of this kind. The plan includes a number of targets for 2008-2012 in
terms of reducing direct environmental impact:
20% reduction in CO2 emissions (per employee)
10% reduction in paper consumption (per employee)
7% reduction in water consumption (per employee)
2% reduction in energy consumption (per employee)
20% increase in the number of employees working in ISO 14001 certified buildings
Gold LEED certification for the new corporate headquarters
In 2012 initiatives were launched under the Global Eco-efficiency Plan with a view to minimizing our
environmental footprint. One initiative consists of the installation of LED lamps at branches in Spain,
Argentina and Peru. As an energy saving measure, BBVA Provincial swapped the air conditioning units
in its branches and the head office for new energy-efficient technology. Our Venezuelan subsidiary
implemented automated electrical panels to control air conditioning and lighting systems at its branches
and continuously measure electrical variables. The panels are monitored from the head office, thus
improving system performance and saving on electricity. BBVA Compass has now used the CA Eco-
efficiency software for a whole year. The system was started up in mid-2011 and is a more reliable
method of controlling electricity, water and gas oil consumption. This system allows the Corporate
Services and Real Estate Management team to identify problems anywhere we operate. Refurbishment
of the U.S. branches continued in 2012, with environmental efficiency improvements including low
water consumption restrooms, motion-activated lights and new ATMs made from materials that can be
recycled.
In Spain more customers are using the Virtual Correspondence service to view, save and request copies
of their correspondence in digital format. The target for 2013 is to make this the only correspondence
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management tool for 600,000 customers, cutting back considerably on our paper consumption. BBVA
Colombia also provides an online bank statement service for customers, a simple and environmentally-
friendly system to check account statements and bills. Paperless projects are also underway to save
managers time and reduce paper consumption at branches. One example is the improved cash and
salary deposit process, with and without a passbook, in which hard copy is replaced with an electronic
document. BBVA Bancomer has also promoted the use of digital channels, such as the corporate
website, on which customers can check their account statements online. Paperwork with customers at
branches has been reduced, using 1 page instead of 3 by only including the most important
information.
In 2012, BBVA Spain and Portugal completed a project of opening three eco-efficient branches in Spain:
small (Madrid – Arturo Soria), medium-size (Aranjuez) and large (Lleida). The 25,906 videoconferences
held in Spain in 2012 cut back on commuting and saved an estimated 23,401 tons of CO2.
Environmental certification continued to be implemented for our corporate buildings and branches in
2012. This year 98 buildings were certified in accordance with the ISO 14001 environmental
management standard, and 29% of the Group’s employees now work in those buildings. In 2012,
Campus La Moraleja, BBVA Group’s training center in Madrid, received the Gold LEED certification, the
most prestigious green building standard in the world. This certificate accommodates a wide range of
green building strategies that save large amounts of water and energy (around 40% and 20%
respectively), reduce the impact of building work, use green materials and provide a better quality
indoor environment. These certificates are in addition to the one already awarded to the BBVA head
office in Asunción (Paraguay). The new head offices in Madrid, Mexico and Houston are also being built
to this standard.
The current Global Eco-efficiency Plan (GEP), on which we have worked for the last four years, was
concluded in 2012. It has above all become an internal management tool, which has allowed us to
consolidate systematically the collection and tracking of data on our environmental footprint. At the
same time, we have improved the reporting methodology used for these indicators in all the countries
where the Group operates. We have managed to achieve the environmental footprint targets set under
the Plan in terms of water (-29.71%), paper (-17.32%) and ISO 14001 certifications (29% of the
workforce working in certified buildings). In line with our commitment to the environmental
management of our direct impact, in 2012 we began work on the next Global Eco-efficiency Plan,
which will be launched in 2013.
The GEP indicators for each year are shown in the following charts:
Electricity consumptionElectricity consumption
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Water consumptionWater consumption
Paper consumptionPaper consumption
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CO2CO2 emissions emissions
In 2012 we continued to make progress in the process of monitoring the Group’s environmental
footprint through the collection of information relating to the GEP indicators every four months. The
scope of the data reported below, covers BBVA Bank, which accounts for 79% of the Group’s workforce,
including the United States. In the case of Spain, the Unnim data are not included.
Emissions
Paper
Water
Energy
Audiovisuals
Waste
ISO14001
Climate change and renewable energy fundingClimate change and renewable energy funding
BBVA is strategically committed to providing funding and advice on renewable energy operations, a
sector which it leads, and where in 2012 alone it financed and advised the installation of over 4,448.5
MW. In total, in 2012 BBVA financed 20 renewable energy operations totaling more than €400 million.
Renewable energy operations this year include financing the Borges solar thermal plant, the first in the
world to combine solar thermal energy and biomass energy. This leads to a significant increase in
efficiency and produces energy 24 hours a day The 22.5 MW facility will burn forest biomass and
energy crops as its main fuel.
BBVA also financed 10 wind farms in 2012. Three of these farms are in Oaxaca (Mexico), the largest
wind farm site in Latin America with 306 MW of installed capacity. This project is classified as a Clean
Development Mechanism under the Kyoto Protocol.
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As part of our fight against climate change, in 2012 we joined the CDP Carbon Action initiative, through
which institutional investors call on companies to set targets for an effective and measurable reduction
in their carbon emissions. BBVA is also a signatory to the Investor CDP, CDP Water Disclosure and
CDP Carbon Action programs. BBVA moved up to 80 points in the latest CDP Global 500 Climate
Change report, proof of its hard work and commitment to climate change.
BBVA again took part in the “Earth Hour” initiative in 2012, covering 220 cities in the 12 countries
where BBVA has its biggest presence. A total of 123 BBVA head offices and 424 branches switched off
their lights to support the largest global mobilization campaign to tackle climate change, organized by
WWF.
Environmental training and awarenessEnvironmental training and awareness
In 2012, ten risk analysts (one from Argentina, one from Peru, one from Venezuela, three from
Colombia and four from Spain) participated in the “Programa de Capacitación Virtual sobre Análisis de
Riesgos Ambientales y Sociales (ARAS)” (Virtual Training Program for Environmental and Social Risk
Analysis), a 30-hour online course organized by UNEP FI (United Nations Environment Program
Financial Initiative).
The Group’s subsidiaries also continued to work on environmental awareness activities with our
employees. BBVA Colombia works in partnership with the Koala Foundation on campaigns such as the
«Semáforo Ecológico» (Ecological Traffic Light). Employees separate the different types of waste
generated under the supervision of a cleaning team who has received the necessary training. Each floor
receives a rating, from green to red, depending on their performance. Venezuela is also encouraging its
employees to recycle by sending out informative postcards on the scope of managing collection of
different types of waste and the environmental impact and energy saving involved. The BBVA Volunteer
Office in Spain held the second “Bosques BBVA“ (BBVA Forests) day at eight different natural areas, in all
of its Regional Divisions, with collaboration from 195 employees and their families. The day’s activities
included reforestation, a clean-up and the release of protected species (a sea turtle on Sagunto beach),
as well as environmental education activities. Volunteers from BBVA Panama held a reforestation day in
the Las Conchas estate, located in the buffer zone of the Chagres National Park in the Panama Canal
Basin. They sowed 800 seedlings of native timber-bearing trees and fruit trees over a two-hectare area.
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Community involvementInformation on Corporate Responsibility 2012
In 2012, BBVA continued to drive its existing priority community involvement programs and undertook
new initiatives with a view to fulfilling the goals proposed for the year.
In the field of education, almost 64,000 children benefited from the «Niños Adelante» (Forward,
children) integration scholarship program in Latin America and customer loyalty targets were achieved
through local financing, raising an extra €5.2 million euros to boost the program and award new
scholarships.
In the social entrepreneurship area, the launch of the second «Momentum Project» in Spain and the first
«Momentum Project» in Mexico was a success. The groundwork was also laid to launch this project in
Peru and we organized competitions and workshops for young social entrepreneurs.
We fostered other community involvement initiatives including awareness and promotion campaigns to
find jobs for disabled people in Spain, with an emphasis on local needs. We consolidated the «Territorios
Solidarios» (Territorial Solidarity) program. BBVA Suma was also launched as a crowdfunding platform
for charities. Through these initiatives, non-profit organizations and social entities received more than
€2 million in funding in 2012.
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Investment in social programs
The BBVA Group invested €81.25 million in social initiatives and projects in 2012 (formerly called
community involvement). This is a 9.4% increase over the previous year and represents 4.85% of of the
group’s net attributable profit for the year (2.47% in 2011 and 1.65% in 2010).
Funds allocated to community involvement over net attributable profitFunds allocated to community involvement over net attributable profit
This investment has strengthened our commitment to priority sectors under the corporate responsibility
plan. Those sectors are financial literacy (9% of the investment), financial inclusion (5%), education for
children and young people (38%), social entrepreneurship (1%), research and culture (22%), projects to
support social entities (11%), and the rest went to other initiatives.
In 2012 new social engagement initiatives were undertaken and those commenced in earlier years were
consolidated. Our stakeholders donated €10 million in all the countries in which we operate. Together
with the Group’s investment, this takes the total to €91.25 million.
Our customers donated €5.2 million to the «Niños Adelante» (Forward, children) integration scholarship
program in Latin America, our employees put up €1.23 million toward community involvement
projects, mainly in the United States, while other third-party groups donated €3.57 million to our social
programs.
Funds allocated by the BBVA Group and its foundations
Distribution of funds by activity and regionDistribution of funds by activity and region
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In 2012, we continued to work on mainstreaming the projects in our priority programs under the
corporate responsibility plan, giving beneficiaries access to more funds.
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Education
Education continued to be one of the pillars of our community involvement in 2012. We allocated
€30.7 million (38% of total investment in social programs) to education and youth programs such as
«Niños Adelante», «La Primera Infancia» (Early childhood), «Ruta Quetzal BBVA», the «Acción Magistral»
(Teacher Action) Price, etc. This percentage rises to 66% in Latin America.
NiNiñños adelanteos adelante (Forward, children) (Forward, children)
BBVA believes that education can improve the quality of life and future of society and that its
Community Involvement Plan for Latin America, with its focus on education, is an appropriate way to
generate development. The «Niños Adelante» integration scholarship program was created in 2007 to
improve access to and the quality of education for underprivileged children and young people. In 2012
BBVA allocated €16 million to «Niños Adelante», benefiting 63,974 children.
Main indicators of the «Niños Adelante» (Forward, children) program
The program is adapted to the reality of each country, and thus benefits different groups. In Mexico, the
«Por los que se quedan» (For those left behind) program helps children of parents who emigrate to the
United States in search of a better future. In Colombia we help children in deprived areas, in Panama
poor children with no access to education, such as in the Ngäbe-Buglé indigenous region, and in Peru
children with poor reading skills, with our «Leer es estar adelante» (Read to get ahead) program.
Having consolidated the Integration Scholarships Program, in 2012 headway was made on additional
initiatives targeted at the scholarship holders and young people living in the towns where the program
is run.
In Mexico, at the schools of scholarship holders of the «Por los que se quedan» program, we have
launched programs such as «Ver Bien para Aprender Mejor» (See better to learn better), which gives
away free glasses and «Ventajas de permanecer en la escuela» (The advantages of staying at school), in
which BBVA Bancomer volunteers participate. We have also participated at social-sports schools in
partnership with the Real Madrid Foundation which promotes sport as an educational and recreational
activity.
In Argentina, the integration scholarship program is furthered with artistic expression workshops and a
research and analysis program to foster a space for plural discussion and debate and in Panama,
paintings by «Niños Adelante» program beneficiaries are exhibited.
In 2012 initiatives continued to increase third-party loyalty to the program, with the participation of
volunteer employees acting as sponsors, and donations from customers through ATMs, online banking
and financial instruments.
Particularly worth noting is BBVA Bancomer in Mexico, whose customers have contributed 4.6 million
euros to improve the educational program through funds such as Fondo B+Educa and the new
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“Bécalos” program, which is a private initiative to collect funds through the network of ATMs around the
country; and BBVA Francés in Argentina, where the Boca Social program and others have created 41
grants for disadvantaged children in the Boca neighborhood and other areas.
In 2012 the MexicanCenter for Philanthropy (Cemefi), Alliance for Social Responsibility in Mexico
(AliaRSE) and Forum Empresa granted the B+Educa mutual fund the Best Corporate Social
Responsibility Practice award in the “Community Engagement” category.
In addition, in Peru we are running the “Leer es estar adelante” (Reading means moving forward)
program with the aim of increasing the levels of reading comprehension among Peruvian students. The
program has received the Luis Hochschild Plaut 2012 award for the Promotion of Excellence in
Education. In 2012 a total of 45,863 students benefited from the program, with contributions from the
bank and third parties, with 1,914 teachers in 440 schools taking part in marginal urban and rural
areas.
Early ChildhoodEarly Childhood
BBVA continued to cooperate with the Organization of Ibero-American States (OIS) on the Early
Childhood project as part of its pledge to improve early childhood education in Latin America, and
continued to support fulfillment of the Educational Goals 2021.
The Early Childhood project is based around the training course for early education teachers called
“Aprendiendo a educar a niñas y niños pequeños”(Learning to educate young children). In 2012, 3,150
teachers participated, and 40,000 children aged 0 to 6 received a better education.
The «Metas educativas 2021: La educación que queremos para la generación de los bicentenarios»
(Educational goals 2021: The education we want for the bicentennial generation) aims to achieve an
education in 2021 that meets urgent social demands. These demands include a higher rate of schooling
and for a longer time, with recognized quality education that is fair and inclusive and in which the
majority of institutions and sectors of society take part.
As part of the Educational Goals 2021, we back the OIS initiative «Luces para aprender» (Lights to
learn), an educational project targeted at Latin America which intends to supply more than 60,000
schools with power and Internet connection.
We also took part in the Ibero-American Congress on Languages in Education and Culture / the Fourth
Leer.es Congress organized by the OIS in Salamanca. We participated in a panel discussion to share
experiences in reading comprehension assessment and new technologies, for example, the «Leer es
estar adelante» program in Peru.
Ruta QuetzalRuta Quetzal BBVA BBVA
Ruta Quetzalis a training program sponsored and organized by BBVA since 1993, which promotes a
values education that encourages effort and mutual respect, promotes equal opportunity and helps
overcome inequality. The program has been declared of cultural interest by UNESCO and has helped
8,000 young people of 16 and 17 years of age to broaden their knowledge and develop a spirit of
international cooperation.
The 2012 Ruta Quetzal, commemorating the Royal Botanical Expedition to the New Kingdom of
Granada, traveled to Colombia to follow in the footsteps of the expedition led by the José Celestino
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Mutis (1732-1808), and to visit Aracataca, the birthplace of Gabriel García Márquez, and la Quinta de
San Pedro Alejandrino, an estate where Simón Bolívar lived out his final days.
The expedition then moved on to Spain, where the members were received at the Royal Palace in
Madrid by their Majesties the King and Queen of Spain. In Malaga they boarded the Galicia, which took
them to Cartagena and back to Cádiz, to get to know Mutis’ city. There they experienced the historic
atmosphere in which the Spanish Constitution of 1812, nicknamed “La Pepa“, was drafted.
As in previous years, the academic program was designed by the Complutense University of Madrid,
which selected the young people to take part in the expedition and provided the teachers to develop
courses and workshops during the expedition.
Other education initiativesOther education initiatives
AcciAccióón Magistraln Magistral (Teacher Action), commitment to values education (Teacher Action), commitment to values education
In Spain the «Premio a la Acción Magistral» (prize for teaching work) has been run since 2005, in
conjunction with FAD and UNESCO, to raise awareness of important educational projects developed by
teachers in Spanish schools. Since then more than 2,000 educational projects have been submitted by
teachers and schools from all over Spain.
In 2012, under the slogan “En su educación tú eres imprescindible” (“You are key to their education”),
we awarded €125,000 in prized: the «Premio a la Acción Magistral» in the infant and elementary
education category to the Gabriel Vallseca elementary school in Palma de Mallorca, for their Values
Education project entitled “El barrio educa. Eduquemos con el barrio” (The neighborhood educates:
Let’s educate with the neighborhood), and the Zambrana high school in Valladolid for its educational
integration project entitled “Nos caemos, nos levantamos, pero siempre continuamos” (We fall, we get
up, but we always go on), in the high school education category.
As part of BBVA’s partnership with FAD and UNESCO, an «Acción Magistral» meeting was held in Madrid
at BBVA Campus to discuss Values Education. Around 200 infant, elementary and high school teachers
participated. The topics included how values education is addressed in today’s classrooms, what
teachers need to be able to develop projects of this type in their daily work, and how educators can
become agents and dynamic forces for educational change.
Also in collaboration with the FAD and UNESCO, during the year 2012 we have worked to launch in
early 2013 the «Acción Magistral»project, whose main objective is to create and unite a community of
actively engaged and motivated teachers who work in social values within the classroom and, thus,
have a direct influence on their environment.
““Giner de los RíosGiner de los Ríos” awards, improving educational quality” awards, improving educational quality
The BBVA Foundation has held since 1983, the “Giner de los Ríos” awards, granted for improving
educational quality. A total of €129,000 in prize money is shared among eight categories for teaches
who use innovative teaching methods.
In 2012, the special prize for the best work was awarded to “Las hormigas como recurso didáctico: un
estudio exhaustivo”(Ants as a teaching resource: a comprehensive study), the brainchild of Raúl
Martínez, from the Colegio Villa de Móstoles school (Madrid). The project uses ants to teach the
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scientific method by studying biodiversity in action, revealing the ecological importance of these insects
and allowing new technologies to be naturally introduced into traditional teaching methods.
“Team. Works. In school”“Team. Works. In school”initiativeinitiative
In the U.S., we launched a joint action plan under the NBA Cares program in 2012, which includes the
“Team. Works. In school” initiative to restore schools in six of the main states where BBVA Compass
operates.
More than 600 BBVA Compass volunteers worked together on the initiative with NBA legends like Bob
Lanier, Felipe López and others, as well as local VIPs, by painting murals and classrooms, landscaping,
assembling furniture, registering library books, and other activities.
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Social entrepreneurship
In 2012 we made progress on the program to support social entrepreneurs in Spain and Latin America,
which was begun last year as a new strategic focus for our community involvement.
Social entrepreneurs identify a social problem and are able to create, manage and develop a business
project to drive social change. They embody our vision, by working for a better future for people.
The social entrepreneurship program consists of two priority areas, «Momentum Project» and the
«Young Social Entrepreneurs» program, as well as other projects to support social entrepreneurship and
innovation.
Momentum ProjectMomentum Project
«Momentum Project» was consolidated as a social entrepreneurship program in 2012, running for its
second year in Spain and making its debut in Mexico.
Following the same format as the previous year, «Momentum Project» was undertaken together with
ESADE and with the collaboration of PwC. This is a comprehensive support program for social
entrepreneurship that through training, strategic advice, projection and finance helps established social
entrepreneurs to grow and escalate their social impact. The ten entrepreneurs taking part each year are
trained in business management through a program designed and delivered by the business school
ESADE. After a training period, a team formed of students from ESADE and executives from BBVA and
other companies help them prepare a growth plan for presentation at the Social Investment Day, after
which they may receive finance from BBVA.
The social entrepreneurs receive help in their search for funding for their growth plans through a “Social
Investment Day” and a BBVA-designed investment vehicle.
There were 97 candidates in the second «Momentum Project» in Spain, out of which 10 social
entrepreneurs were selected: Apunts, Atentis CEE, Batec Mobility, Bolet Ben Fet, Montaraz, Txita
txirrindak, Ampros-DePersonas, Parallel 40, Rede Galega de Kioscos, and Rus in Urbe, La huerta de
Montecarmelo. Of these ten, the first 6 will receive funding, together with La Tavella from the first
edition, through our investment vehicle for a total of €1.5 million.
In 2012, the social entrepreneurs that participated in the first and second edition, had total revenues of
€16.6 million and provided close to 600 jobs (72% of them for dependent individuals or people facing
social exclusion).
«Momentum Project» was ranked one of ‘The year’s 100 best ideas’ in the “Actualidad Económica”
awards, and received an award for the best social innovation program from the Seres Foundation.
In Mexico we launched «Momentum Project» for the first time in order to give a boost to SMEs through
a strategic partnership with the EGADE Business School, New Ventures Mexico and collaboration from
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the Inter-American Development Bank.
A total of 10 social entrepreneurs had been selected at the end of December to participate in the
program. The candidates chosen are Amarantla, Café Ruta de la Seda, Casa para Ensamblar, Comunidad
Indígena del Nuevo San Juan Parangaricutiro, Crea, Los Danzantes, Échale a Tu Casa, Ecole, Tienda del
MAP and Unidos. Their skills training will be complemented by the Bancomer Professorship and
participation in workshops in the BBVA Bancomer Financial Literacy program «Adelante con tu futuro».
In addition, we have developed Momentum Himalaya, an initiative designed to boost a social
entrepreneurship project that aims to achieve the sustainability of a local school in the Nepali village of
Samagaon, in the foothills of Mount Manaslu. The support given to the project will provide funds for the
school, until now dependent on aid and donations, by transforming the village’s tourist potential, with
the help of strategic mentoring. In 2012, in an initial phase of this initiative, we carried out a feasibility
study of the business project, and granted 100 scholarships, consisting of school materials and food, to
cover students’ needs until the project becomes sustainable.
Young Social Entrepreneurs ProgramYoung Social Entrepreneurs Program
In 2012, we worked alongside Ashoka to organize the first Ibero-American competition “Cambia tu
mundo” (Change your world) targeted at young social entrepreneurs. The 20 winners from various
Ibero-American countries received €800 in seed capital for their projects.
In Chile, 20 young people from Hogar de Cristo were assisted and mentored by 11 BBVA volunteers in
the «Young Social Entrepreneurs» program 2012, a program to support and promote social
entrepreneurship, focusing on vulnerable youngsters.
We also undertook the Young Entrepreneurs program in Peru as part of the youth scholarships
program, giving these young people the chance to become involved in business and social
entrepreneurship through their projects. The experience is enriching due to the insight into social
inclusion gained by participants.
In addition, we supported the Young Changemakers program in Spain alongside Ashoka, which
promotes young entrepreneurs. Seven social projects designed by young people were chosen to receive
seed capital to enable their implementation. All these young people will join the Ashoka network of
Young Changemakers, a global movement of young people who are changing the world.
With BBVA’s sponsorship, the Young Changemakers Forum was held in Madrid with participation from
some of the winners of the First Ibero-American Competition “Cambia tu Mundo” in Argentina, Peru,
Colombia, Paraguay, Mexico and Spain, and some members of the projects selected in the Young
Changemakers program.
In 2012, we participated in the “Action x Change” summer camp giving advice to young people from 11
countries involved in activities to launch social projects that they themselves had created earlier.
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Research and Culture
As part of BBVA’s community involvement, the BBVA Foundation is concerned with the main preferences
and aspirations of the societies it serves, covering health, environment, knowledge, innovation and
culture.
Lines of actionLines of action
BBVA Foundation’s unwavering commitment is given form in programs that adhere to strict criteria in
terms of innovation, ethics and ability for future projection; to which it has destined €15.5 million in
2012. BBVA Foundation works alongside leading Spanish scientific and cultural institutions to design
and develop the programs.
Together they work on a program designed by the BBVA Foundation to help improve society by
providing new opportunities and promoting knowledge and culture.
HealthHealth
Health is one of the main concerns of society as a whole and of individuals. Cancer is one of the biggest
challenges in this field due to its widespread nature. The solution lies in basic and clinical research,
which is at the core of some of BBVA Foundation’s most important projects.
The Cancer Cell Biology program is run at the Centro Nacional de Investigaciones Oncológicas (CNIO,
National Center for Cancer Research) alongside young researchers. We also sponsor cancer research
programs in collaboration with the Sloan-Kettering Cancer Center in New York, and a program to
identify and apply cancer biomarkers at the same center in New York, in collaboration with Hospital Vall
d’Hebron.
In 2012, the BBVA Foundation continued its publishing activities focused on health topics, with “El libro
de las enfermedades alérgicas” (The book on allergic diseases) and “El asma en la infancia y la
adolescencia” (Asthma in infants and adolescents).
CultureCulture
The BBVA Foundation channels its commitment to culture through its support for the plastic arts, music
and literature. In its support for the plastic arts, the foundation each year helps to organize a large
annual exhibition at the Prado Museum, the Guggenheim Museum in Bilbao and the Joan Miró
Foundation in Barcelona.
The BBVA Foundation’s support for music takes a variety of different forms: creation and composition,
recording and broadcasting of the leading Spanish composers of different generations, and concerts
and prize ceremonies; all in partnership with Teatro Real, the Spanish National Youth Orchestra
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(JONDE), Teatro de la Maestranza and Royal Symphonic Orchestra of Seville (ROSS), Fundación Albéniz,
and Asociación Bilbaína de Amigos de la Ópera (ABAO).
Economic and social analysisEconomic and social analysis
The BBVA Foundation undertakes economic and social analysis of the main trends in society in a global
context. This year its activities consist of a study of education and industry (reports in collaboration
with the Instituto Valenciano de Investigaciones Económicas (IVIE) on universities, high school
education and growth and productivity), and a broad survey of public opinion which analyzes domestic
scientific culture in relation to other countries.
““Fronteras del ConocimientoFronteras del Conocimiento““ Awards Awards
The BBVA Foundation’s “Fronteras del Conocimiento“ (Frontiers of knowledge) awards promote the best
attributes of Spanish science. Spain’s leading multidisciplinary research institution, the Consejo Superior
de Investigaciones Científicas (CSIC), represents the science community in the awards.
The international importance of these awards has been based on a rigorous approach, with
independent juries. They have received wide acclaim from the world’s scientific community, who sit on
the juries and participate in the nomination procedure, with representatives from the most prestigious
academic and research institutes.
BBVA Foundation Fronteras del Conocimiento (Frontiers of Knowledge) Awards 2012BBVA Foundation Fronteras del Conocimiento (Frontiers of Knowledge) Awards 2012
Pure Sciences (Physics, Chemistry and Mathematics)Ingrid Daubechies
David MumfordMathmaticians from Belgium and UK
BiomedicineDouglas Coleman
Jeffrey FriedmanU.S. chemist and doctor
Ecology and Conservation Biology Jane Lubchenco U.S. Marine ecologist
Information and Communication Technologies Lotfi A. Zadeh electronic engineer from Azerbaijan
Economy, Finance and Business Management Paul Milgrom U.S. Mathmatician
Contemporary Music Pierre Boulez French composer
Climate Change Susan Solomon U.S. Researcher
Development Cooperation
The BBVA Foundation sponsors other prizes that give recognition and publicity to people who make an
essential contribution toward a better world. The “Premios a la Conservación de la
Biodiversidad”(Biodiversity Conservation Awards) focus on activities in Spain and Latin America, as well
as publicizing knowledge and raising awareness.
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Support for social entities
We have undertaken other initiatives as part of our community involvement program, including support
for disabled people and the Integra Prize, as well as other activities to address the problems that people
are facing in these times of economic crisis. BBVA has renewed its pledge to social initiatives at the local
level, through the «Territorios Solidarios» program and the BBVA Suma crowdfunding platform.
Integra Prize, support for disabled peopleIntegra Prize, support for disabled people
In 2012 we continued to give our support to disabled people through Plan Integra. The aim is to
promote the social and labor integration of disabled people and reinforce the concepts of equal
opportunity and non-discrimination.
The main feature of this plan is the BBVA Integra Prize in Spain, which recognizes charities and social
entrepreneurs that work to achieve employment for people with disabilities.
In 2012 the prize, worth €200,000, was awarded to the Catalan cooperative La Fageda, which provides
work for more than 150 disabled people. The projects submitted by a further six institutions from
different parts of Spain were also awarded €50,000 each.
The prize has just celebrated its fourth year, once again in collaboration with organizations that
represent disabled people in Spain: FEACEM, FUNDACIÓN ONCE, FEAPS, CERMI and COCEMFE.
Pilot initiatives have also been developed for disabled people, focusing on the north-west region of
Spain. These initiatives include granting loans to hostel owners in Avila to provide disabled facilities and
access, adapting a commercial office in Avila to international accessibility standards, writing a customer
service manual for people with disabilities, and an exhibition of 3D bills for the visually-impaired.
Territorios SolidariosTerritorios Solidarios
BBVA supports solidarity projects and the needs of the societies in which it operates. The objective of
«Territorios Solidarios» is to contribute to educational and social development, promoting the
participation of BBVA employees in Spain in solidarity actions.
The program gives BBVA employees in Spain the chance to propose and select social projects
developed by non-profit organizations, with which they feel involved or can identify.The projects
selected are then given financial assistance.
The program was held in 2012 for thefirst time, there were 559 applications, of which 202 were finally
chosen. All this has involved significant participation by employees: 1,188 have sponsored various
projects, which have been voted by 13,489 colleagues (4% and 49% of the workforce in Spain,
respectively).
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€1.9 million was allocated to support the projects submitted by the 202 selected organizations in areas
such as education, community support, culture, the environment and care for the most disadvantaged
groups in society.
BBVA SumaBBVA Suma
In 2012 BBVA launched BBVA Suma. This digital crowdfunding platform is designed to help NGOs
working on multiple projects or humanitarian response programs to raise the funds they need via small
donations from numerous individuals.
This crowdfunding platform has two different tabs to allow users to make easy donations (in just three
clicks) to any causes they choose and as often as they wish.
One of the tabs, called Humanitarian Response, is intended for programs that need immediate support,
such as the famine in Sahel and the Horn of Africa, and the Haiti earthquake.
The other tab, Charitable Causes, includes other projects that are no less important such as building a
school in a poor area and helping the disabled.
Since BBVA Suma was launched in mid-2012, €142,875 have been raised for 62 charitable causes and
humanitarian aid projects organized by different NGOs and non-profit organizations.
Through BBVA Suma and in collaboration with Cáritas, Cruz Roja (the Spanish Red Cross) and Banco de
Alimentos (Food Bank), a donation campaign called ‘Tu solidaridad vale el doble’ (your solidarity is
worth double) has been set up for customers, employees and shareholders in order to cover the basic
needs (such as food) of thousands of people across Spain who are affected by the economic crisis.
BBVA has donated €500,000 to each organization and matched the amount that each donor put toward
their projects. Together, BBVA’s clients, employees and shareholders have donated €1,656,451 through
the platform BBVA Suma and the Bank’s branches. BBVA matched this amount and the three
organizations received almost €5 million.
United StatesUnited States
In the U.S., the BBVA Compass Foundation helps to organize community support activities. This
foundation works alongside local fundraising committees and applies a focused strategy, targetting
social inclusion in the communities to which we provide a service.
In 2012 we focused on two main areas, allocating 30% of our donations to community development
initiatives (including financial literacy) and 30% to education. The remaining 40% was divided between
four categories: health and humanitarian services, art and culture, environment and natural resources,
and diversity and inclusion.
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Profile, progress and goalsInformation on Corporate Responsibility 2012
The BBVA Group is a global financial institution with a prominent position in Spain and Latin America
and has a growing presence in the United States and Asia. Our group is made up of 115,852 employees
worldwide, serves 53,215,568 million customers and has 1,012,864 shareholders.
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Main Group companies
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Business organization
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Annual CR reports issued by other Group Banks
GRI 2011 RATING VERIFIED BY DELOITTE
BBVA BancomerBBVA Bancomer since 2007 A+ ✓
BBVA Banco ContinentalBBVA Banco Continental since 2005 A+ ✓
BBVA Banco FrancésBBVA Banco Francés since 2007 B+ ✓
BBVA Banco ProvincialBBVA Banco Provincial since 2006 B+ ✓
BBVA ColombiaBBVA Colombia since 2007 A+ ✓
BBVA ChileBBVA Chile since 2007 B+ ✓
BBVA CompassBBVA Compass since 2008 B+ ✓
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Prizes and awards
November 2012. BBVA, the best Spanish company according to Lundquist’s European online CSR
communication ranking.
May 2012. «Momentum Project», named one of The 100 best ideas of the year by Actualidad
Económica. This initiative was also awarded the Seres Foundation award for Corporate Innovation
and Social Commitment in October 2012.
December 2012. BBVA Microfinance Foundation, winner of United Nations Social Investment
Pioneers award, Social Business category.
August 2012. The «Niños Adelante» (Forward, children) program, awarded the “Más por Chile” seal
by the Chilean Government. This program also earned BBVA Chile the Good Corporate Citizen
Award 2012 by the North American-Chilean Chamber of Commerce.
June 2012. BBVA Compass, awarded the Leadership in Community Service award by the Financial
Services Roundtable for the third year running.
April 2012. BBVA Bancomer receives the Socially Responsible Company award granted by Centro
Mexicano para la Filantropía.
November 2012. BBVA Continental wins Luis Hochschild Plaut 2012 award for Promoting
Educational Excellence, for its «Leer es estar adelante» (Reading means being ahead) program.
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Key CR indicators
Key corporate responsibility indicatorsKey corporate responsibility indicators
2012 2011 2010
Economic
International ranking by market capitalization (2) 12th 9th 14th
Economic value added (EVA) (million euros) 22.598 21.615 18.559
Socially responsible mutual funds over total mutual and pension funds managed (%) 2,57 2,42 2,13
Social
Individual customer satisfaction index (3) 7,13 7,46 7,53
Global employee satisfaction index (%) (4) 76 n/a 73
Supplier satisfaction index (%) (5) n.a. n/a 79
Hours of training per employee (6) 48 48 44
(%) Women in senior management (Management Committee and corporate
managers/senior managers)10/19 9/19 10/18
Ratio of men to women (%) 47/53 48/52 48/52
Resources allocated to community involvement (million euros) 81,25 74,24 76,03
Resources allocated to community involvement over net attributable profit 4,85 2,47 1,65
No. of children receiving scholarships under the “Niños Adelante” project 63.974 61.436 60.099
No. of participants in the Financial Literacy program (7) 1.159.032 814.483 416.325
No. of direct and indirect beneficiaries of the BBVA Microfinance Foundation (millions) (8) 5,2 3,7 2,5
No. of customers of the BBVA Microfinance Foundation 1.293.514 948.508 620.584
Total amount of microcredits granted by the BBVA Microfinance Foundation (million
euros)861 737 432
Average microcredit from the BBVA Microfinance Foundation (euros) 965 1.052 696
Number of volunteers 4.334 4.328 5.268
Environmental
CO2 emission per employee (t) (10) 3,72 4,13 4,04
Paper consumption per employee (t) 0,12 0,13 0,13
Water consumption per employee (m3) 33,36 40,12 48,88
Electricity per employee (MWH) 8,50 8,92 8,72
Number of employees in ISO 14001 certified buildings 26.697 20.267 16.593
Corporate responsibility and reputation (CRR) management and governanceCorporate responsibility and reputation (CRR) management and governance
No. of CRR appearances before the Board of Directors 1 2 1
Local committees or CRR participation in Management Committees (global, local and
business)14 16 n/a
(1)
(9)
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2012 2011 2010
Note: n/a = not applicable. n.a = not available.(1) Other key economic CR indicators are net attributable profit per
share, stock-market capitalization and NPA ratio. These figures can be found in the table of relevant events in the
2012 BBVA Report.(2) World ranking among the 18 companies in BBVA’s peer group: Wells Fargo, HSBC,
JPMorgan, Citigroup, Santander, Bank of America, BNP, UBS, Deutsche Bank, RBS, Barclays, CS, Lloyds Bank,
Intesa, SG, Unicredit, Credit Agricole, CommerzBank.
(3) Data on a scale of 1-10 and within the scope of Spain, according to the scope of
consolidation at the close of each year. Source: FRS Inmark.
(4) Biennial survey. Does not include Unnim employees, as the 2012 survey was
carried out before Unnim was incorporated into the BBVA Group.
(5) Biennial survey. The 2012 results were not available at the time of publication of
the 2012 CR Report.
(6) Figures calculated according to the average workforce for the year.
(7) Figures for academic years: in 2012 figure for 2011/12 in Spain and Portugal, in
2011 for 2010/11 in Spain and Portugal, and in 2010 for 2009/10 in Spain.
(8) Indirect beneficiaries calculated by multiplying the number of customers by a ratio
for the average family unit.
(9) The water, electricity and CO2 indicators for previous years have been updated,
largely by incorporating US data that were in the process of revision when the 2011 CR
Report was published.
(10) This calculation factors in the purchase of green energy by BBVA Spain.
Scope: BBVA Group
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Progress in 2012 and goals for 2013
CR PRINCIPLES AND POLICIESCR PRINCIPLES AND POLICIES
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
1. Report regularly (at least once a year) to the
Board of Directors
One appearance before the Board of Directors and one
before the Board’s Executive Committee100%
2. Impact on Society project: build a map of
indicators for BBVA’s social contribution and report
on it
Defined and reported on indicators of BBVA’s social
contribution. Carried out research study to analyze
acceptance of social impact indicators among customers
and employees.
75%
3. Draw up a report on the impact of BBVA’s
effective tax rate, verified by an independent
auditor
Goal postponed to 2013 0%
4. Approve the 2012-2015 CRR Strategic Plan Approved the 2013-2015 CRR Strategic Plan 100%
5. Update the Human Rights and Environment
policies and the Standards of Conduct in DefenseRules of Conduct in Defense updated 50%
6. Promote and participate in CR initiatives
together with other companies and institutions and
adhere to relevant international commitments
Signed the UN Natural Capital
Declaration.
Participated in the Rio+20 sustainable summit.
Participated in the AECA work group to define an
integrated scoreboard and its XBRL taxonomy.
100%
7. Two CRR appearances before the Group
Management Committee
Created a Responsible Business Committee and held one
meeting.50%
8. CRR participation in 20 local management
committees, with minimum of 2 per country
14 appearances in total (Argentina, Chile, Colombia, Spain
and Portugal, Panama, Paraguay and Peru)25%
9. Include CRR issues in at least 2 US Management
CommitteesGoal postponed to 2013 0%
10. Carry out actions aimed at achieving and
disseminating the MDGs (Millennium Development
Goals)
BBVA is contributing to the achievement of the MDGs
through a variety of initiatives such as the BBVA
Microfinance Foundation, the Community Involvement Plan
for Latin America, financial literacy, Human Rights policy,
the Global Eco-efficiency Plan and the application of the
Equator Principles. It has also supported their
dissemination through the “Y tú sin enterarte” (And you
still don’t know about it) campaign.
75%
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GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
11. Improve the Money Laundering Risk
Management model
Implemented improvements to the systems for classifying
customers in terms of
PML/TF
Optimized the existing systems of monitoring in all the
Group’s units
Adapted the internal policies and procedures to the legal
changes in the countries where we are present and
incorporated the best international practices on these
matters
100%
STAKEHOLDERSSTAKEHOLDERS
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
12. Include CSR-ESG issues in institutional
presentations and release of results
Included CSR-ESG issues in institutional presentations,
release of results, and shareholder announcements.100%
13. Create the ESG Investment Committee and hold 2
sessionsHeld a session of the ESG Investment Committee 50%
14. Include six-monthly corporate meetings to review
developments in image and reputation and the
communication process
Held a meeting in 2012 with information on the first
half-year.50%
15. Identify shortlist of key stakeholders Drew up list 100%
FINANCIAL LITERACYFINANCIAL LITERACY
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
16. 3,500 schools and more than 650,000
beneficiaries with the “Valores de Futuro” (Future
values) program in Spain in the 2011/2012 academic
year
3,825 schools and 780,451 beneficiaries with the
“Valores de Futuro” program in Spain in the
2011/2012 academic year
100%
17. 800 schools and more than 105,000 beneficiaries
with the “Valores de Futuro” program in Portugal in the
2011/2012 academic year
849 schools and 126,944 beneficiaries with the
“Valores de Futuro” program in Portugal in the
2011/2012 academic year
100%
18. Define strategy, adapt content and implement
“Valores de futuro” in Mexico
“Valores de Futuro” has been implemented in Mexico in
the 2012/2013 academic year100%
19. 5,000 beneficiaries of the “Adelante con tu futuro”
(Forward with your future) program in South America
14,088 beneficiaries of the “Adelante con tu futuro”
program in South America100%
20. 200,000 beneficiaries of the “Adelante con tu
Futuro” program in Mexico*
225,875 beneficiaries of the “Adelante con tu Futuro”
program in Mexico100%
21. Organize and participate in forums and initiatives
to promote financial literacy
2 seminars on financial literacy for young people
organized at the annual OECD meeting100%
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FINANCIAL INCLUSIONFINANCIAL INCLUSION
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
22. Close two new operations. Operating presence in
one more country
Included Banco de Ahorro y Crédito ADOPEM in the
Dominican Republic50%
23. Increase the number of executives trained in
microfinance by at least 20% (250 students)
398 new credit officers trained, 60% more than the
previous year. 1,670 people trained since 2009.100%
24. Hold three new training workshops on good
governance for board members of microfinance
institutions in Latin America
Goal postponed to 2013, 2 workshops will be held in
Peru and 1 in the Dominican Republic. Materials, skills
training and preparation were given in 2012 for the
launch and implementation of the workshops.
0%
25. Segmentation project: Poverty Map of Latin
America
Developed value proposal for the agricultural and
livestock world (implemented in Colombia).50%
26. Develop and implement Social Impact IndicatorsDefined an in-house system of social measuring;
results planned for publication in 2013.75%
27. Extend the customer base by strengthening the
banking penetration process
1,015,454 new Cuenta Express customers,
representing an increase in the Cuenta Express
customer base of 107%.
100%
RESPONSIBLE BANKING – Customer focusRESPONSIBLE BANKING – Customer focus
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
28. Receive double-A certificate from Euracert for
www.bancaparatodos.com
Received AA certification from Euracert for the website
www.bancaparatodos.com100%
29. Design plan for implementing transparent, clear
and responsible (TCR) communication in Spain
Under development, as part of the 2013-2015
Strategic Plan, with the aim of global implementation50%
30. Include CRR criteria in product and service design.
Review and foster reputational risk management in
new products committees
Approved the introduction of reputational risk in the
new products committees, with the operation under
review
100%
31. Carry out “people centricity” training workshops
for Segment ManagersInitiative not carried out 0%
32. Development, implementation and follow-up of
individual solutions for customers struggling to pay
their mortgages
46,238 outstanding refinancing and restructuring
mortgage operations as of December 31, 2012 for
non-business natural persons
75%
RESPONSIBLE BANKING – Responsible financeRESPONSIBLE BANKING – Responsible finance
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
33. BBVA Risk Management Committee approval of the
Rules of Conduct in Defense
BBVA Risk Management Committee approved the Rules
of Conduct in Defense100%
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GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
34. Add BBVA Compass (U.S.) to the Group’s
environmental risk management circuit
Began the incorporation of BBVA Compass to the
Group’s environmental risk management circuit The
local US procedure for the Equator Principles entered
into force in 2012.
50%
35. Adapt the manual for Social and Environmental
Risk Management in the lending business to all the
countries in the BBVA Group
Adapted the manual for Social and Environmental Risk
Management to the lending business in Peru,
Colombia, Venezuela, Chile, Argentina, Mexico and the
U.S.
75%
36. Hold two sessions of the SER Committee No session of the SER Committee was held in 2012 0%
37. Maintain the number of risk analysts trained in
social and environmental risk analysis
13 analysts received grants (of whom 10 took the
course). In 2011 the number was 1275%
38. Continue to deploy global technological
infrastructures to manage fraud in the Group and
optimize the management process for this type of risk,
especially with respect to credit cards
New security controls have been defined to cover new
risks and strengthen the existing control model100%
39. Complete the consolidated risk map with financial
years for USA and CIB (Corporate & Investment
Banking)
Consolidated the risk map with the financial year of
CIB50%
RESPONSIBLE BANKING – Human ResourcesRESPONSIBLE BANKING – Human Resources
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
40. Implement and boost the corporate initiatives
approved in each of the areas/countries
8 corporate initiatives approved by the Strategic and
Operational Committee as part of the Gender Diversity
Plan that are being implemented globally in each of
the areas/countries
50%
41. Evaluate gender diversity following the
implementation of the above initiatives.
The evaluation process is still underway due to the
need to mature the initiatives in place0%
42. Launch CR content for executives via iPad Initiative carried out in 2012 100%
43. Incorporate CRR knowledge across the board in
the functional profiles of the areas (IDP – Individual
Development Plan)
Goal postponed to 2013. 0%
44. Include a CRR training chapter in the new hires
module
The “Welcome to BBVA” training pack including an
online CRR training course has been issued for all new
hires in all countries and areas where the Group
operates.
100%
45. Maintain the number of employees collaborating as
volunteers
4,334 employees collaborated as volunteers in 2012,
compared with 4,328 in 2011100%
RESPONSIBLE BANKING -Responsible investmentRESPONSIBLE BANKING -Responsible investment
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GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
46. Carry out the third sustainability rating of the BBVA
Employment Plan
Carried out the third sustainability rating of the BBVA
Employment Plan100%
47. Extend the exercise of voting rights to European
companies
Extended the exercise of voting rights to European
companies100%
48. Train Asset Management managers in SRI Training completed for Equity managers 100%
RESPONSIBLE BANKING – Responsible procurementRESPONSIBLE BANKING – Responsible procurement
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
49. Approve and implement the Group’s responsible
procurement policy
The BBVA Responsible Procurement Policy was
approved by the Eco-efficiency and Responsible
Procurement Committee
50%
50. Extend the Global Procurement System to new
geographical areas and functions
The complete procurement cycle has been integrated
into the GPS platform in Mexico, Peru, Colombia and
Chile
75%
RESPONSIBLE BANKING – The environmentRESPONSIBLE BANKING – The environment
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
51. BBVA signatory to CDP Carbon ActionSigned adherence to CDP Carbon
Action100%
52. Reduction in consumption per employee: 12.69% in CO2
emissions; 1.59% in paper; and 6.03% in electricity, in accordance with
the
GEP
Prepare the new Global Eco-efficiency Plan, to come into force in 2013
- Emissions: reduction of 10.20% –
Paper: reduction of 9.60% – Electricity:
reduction of 5.01%
50%
COMMUNITY INVOLVEMENTCOMMUNITY INVOLVEMENT
GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
53. Launch actions to raise awareness and promote
the labor integration of disabled people in Spain, with
emphasis on local needs
Awarded the Premio Integra to La Fageda, for their
assistance in employment integration
Initiatives for disability in the north-east: loans to hotel
owners to extend disabled access, service manual for
customers with disabilities and exhibition of banknotes
for the visually disabled.
100%
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GOALS FOR 2012 ACHIEVEMENTS
“%
PROGRESS
(VERIFIED
BY
DELOITTE)”
54. 65,000 children to benefit from the “Niños
Adelante” (Forward, children) integration scholarships
program
63,974 children benefited from the “Niños Adelante”
integration scholarships program100%
55. Consolidate goals through local financial
instruments
Customers contributed 4.6 million euros to the
scholarship programs (Fondo B+Educa, Bécalos, Leer
es estar adelante, Boca Social), 53% up on the figure
for 2011
100%
56. 2nd Edition of the Momentum Project in
Spain 1st Edition of the
Momentum Project in Mexico and Peru Youth
contests and workshops
Held the 2nd edition of the Momentum Project in
Spain
1st in Mexico and prepared for one in Peru
Held the “Cambia tu mundo” (Change your world)
competition for young people
100%
57. Consolidate the “Territorios Solidarios” program
and increase the number of projects presented by 20%
1st “Territorios Solidarios” program held with 848
projects presented. A total of 937 projects were
presented in the 2nd edition (an increase of 12% on
2011). The number of employee sponsors increased
by over 1,000.
75%
58.. Launch BBVA Suma with collective financing tools
to support small charity organizations
Launched BBVA Suma with collective financing tools
for charity organizations and humanitarian aid.100%
* The 2011 Corporate Responsibility Report has an error here, with 400,000 beneficiaries. The correct
goal is: “200,000 beneficiaries of the “Adelante con tu Futuro” program in Mexico.”
Other significant events in 2012:Other significant events in 2012:
Responsible Investment: Developed the proprietary ESG Equity model to generate ESG ratings. The
plan is to incorporate the model into the Fixed-Income investor process in pensions in 2013.
Financial Inclusion: Pilot “Celularízate” (Cell-phone yourself) program in 308 small stores in Mexico.
Customer Focus: Definition of the “Yo soy empleo” (I am employment) program to support job creation
by SMEs jobs in Spain.
The 2013 targets will be defined in line with the 2013-2015 Strategic Plan that has recently been
approved, and will be communicated via bancaparatodos.
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Information criteria and standardsInformation on Corporate Responsibility 2012
In 2013 we presented our third integrated report, designed to provide relevant, concise and clear
information for all our stakeholders, and following the most innovative trends in reporting at
international level promoted by the International Integrated Reporting Council (IIRC). The report
describes our financial performance and results in 2012, complemented by BBVA’s most significant
social, environmental and corporate governance information.
This online version of the 2013 Corporate Responsibility Report offers complementary information on
our performance in this area and meets the demands of our most specialized stakeholders. The
information is organized according to the core strategic elements of our CR policy, and has been
subjected to independent review in accordance with the scope and procedures of previous years.
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Report criteria
The reported information covers the BBVA Group and the year 2012, although it also contains
comparative data for 2011 and 2010, with an indication of their scope. Where the historical data have
been changed to include improvements to the metrics, the historical series have been recalculated and
an explanation about this change is given. In addition, Unnim data have been included in those
indicators where consolidation has been possible.The social and environmental information on the
jointly controlled financial entities that are accounted for under the proportional consolidation method
in the Annual Financial Statements has not been consolidated. The most significant jointly controlled
entity is Garanti.
The progress made this year with respect to our reporting process includes:
More integration of financial and non-financial information (also called ESG) in corporate
information, as a result of the close collaboration between the Global Accounting & Information
Management and the Corporate Responsibility areas.
A model of sustainability communication backed at international level, based on constant updating
and dialog with our stakeholders through a variety of channels, particularly our website
bancaparatodos.
Greater access to information, since bancaparatodos has been developed in accordance with the
W3C XHTML and CSS standards and has the Web Accessibility Initiative’s (WEI) AA EURACERT
certificate , guaranteeing access to a large number of people, including those with disabilities
(visual, hearing, cognitive or motor) or with technological limitations.
When deciding on the importance and materiality of the content to be included, the information
expectations and demands of the main BBVA stakeholders have been taken into account, extending the
engagement process in line with the recommendations of the Sustainability Reporting Guidelines
(version 3, 2006) of the Global Reporting Initiative (GRI) and standard AA1000, which includes the
AccountAbility Principles Standard AA 1000APS (2008) and the Sustainability Assurance Standard AA
1000 AS (2008). Along these lines, a specific analysis has been carried out to assess the validity and
relevance of the issues in the context of the present crisis, as described in the chapter “Principles,
Policies and Stakeholders”. The BBVA Group also prioritizes the definition and execution of its
commitments based on the significant CR issues that have been identified. These commitments can be
consulted in the section “Achievements in 2012 and Goals for 2013″.
The information is completed with the Report BBVA in 2012 and the Annual Consolidated Financial
Statements and Management Report for 2012, as well as other information that is available on BBVA’s
website for shareholders and investors.
Basic references and international standardsBasic references and international standards
This information has been prepared in accordance with the Global Reporting Initiative Guidelines for
preparing sustainability reports (GRI G3), with a level of application of A+, and including information on
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the core and supplementary financial indicators. It also follows the AA1000 APS AccountAbility
Principles standard. In addition, the information reflects the Progress Report 2012 on the United
Nations Global Compact and includes actions related to the United Nations Millennium Development
Goals.
Rigor and verificationRigor and verification
Information systematization and management enables us to provide a sound source of content. The
information is reviewed by an external auditor, in this case Deloitte, according to the scope of the
independent review report. An action plan is then drawn up to ensure that the recommendations arising
from review processes are implemented.
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GRI indicators
ProfileProfile
PROFILEPROFILE
1. Strategy and Analysis1. Strategy and Analysis ReferenceReference
1.1 Statement from the CEO and chairperson on the importance of
sustainability for the organization and its strategy.Letter from the Chairman
1.2 Description of key impacts, risks and opportunities.
BBVA in 2012 (pages 89-129)
BBVA’s impact on society
Principles, policies and stakeholders/
Stakeholders/ Relevant issues &
Controversial issues
2. Organizational profile2. Organizational profile ReferenceReference
2.1 Name of the organization. Profile, progress and goals
2.2 Primary brands, products and/or services. Profile, progress and goals
2.3 Operational structure of the organization. Profile, progress and goals
2.4 Location of organization’s headquarters. Profile, progress and goals
2.5 Number of countries where the organization operates.
Profile, progress and goals
CFS (42)
2.6 Nature of ownership and legal form.
Profile, progress and goals
ARCG (2-8)
2.7 Markets served. Profile, progress and goals
2.8 Scale of the reporting organization.
Profile, progress and goals
CFS (pages 39-40)
2.9 Significant changes during the reporting period in the size, structure
and ownership of the organization.
Profile, progress and goals
Information criteria and standards/
Report Criteria
CFS (page 40-42)
2.10 Awards received in the reporting period. Profile, achievements and goals
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3. Report parameters3. Report parameters ReferenceReference
REPORT PROFILEREPORT PROFILE
3.1 Reporting period for information provided.Profile, progress and goals
Information criteria and standards/ Report Criteria
3.2 Date of most recent previous report (if any).Profile, progress and goals
Information criteria and standards/ Report Criteria
3.3 Reporting cycle (annual, biennial, etc.).Profile, progress and goals
Information criteria and standards/ Report Criteria
3.4 Contact point for questions regarding the report or its contents. Contact (bancaparatodos.com)
REPORT SCOPEREPORT SCOPE
3.5 Process for defining report content.
Principles, policies and stakeholders /
Stakeholders
Information criteria and standards/ Report Criteria
3.6 Report scope.Profile, progress and goals
Information criteria and standards/ Report Criteria
3.7 State any specific limitations on the report scope.Profile, progress and goals
Information criteria and standards/ Report Criteria
3.8 Basis for reporting on joint ventures, subsidiaries, leased facilities,
outsourced operations, and other entities that can significantly affect
comparability from period to period and/or between organizations.
Profile, progress and goals
Information criteria and standards/
Report Criteria
CFS (pages 17-18)
3.9 Data measurement techniques and the bases of calculations,
including assumptions and techniques underlying estimations applied to
the compilation of the indicators and other information in the report.
Principles, policies and stakeholders /
BBVA’s Impact on society
RB / Customer focus / Quality,
satisfaction and customer service
RB / Human Resources / Diversity
RB / Responsible procurement
RB / The environment / Global Eco-
efficiency Plan and enviromental
footprint Community involvement /
Education
Profile, progress and goals/ Key CR
indicators
3.10 Explanation of the effect of any re-statements of information
provided in earlier reports, and the reasons for such re-statement.Principles, policies and stakeholders/
BBVA’s Impact on society
RB / Customer focus / Quality,
satisfaction and customer service
RB/ Human Resources/ Training
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RB / The environment / Global Eco-
efficiency Plan and enviromental
footprint; Climate change and
renewable energy funding
Profile, progress and goals/ Key CR
indicators
3.11 Significant changes from previous reporting periods in the scope or
measurement methods applied in the report.Information criteria and standards/ Report criteria
GRI CONTENT INDEXGRI CONTENT INDEX
3.12 Table identifying the location of the Standard Disclosures in the
report.Information criteria and standards / GRI indicators
ASSURANCEASSURANCE
3.13 Policy and current practice with regard to seeking external
assurance for the report. If not included in the assurance report
accompanying the sustainability report, explain the scope and basis of
any external assurance provided. Also explain the relationship between
the reporting organization and the assurance provider(s).
Information criteria and standards/ Independent
review report (Deloitte)
4. Governance, Commitments and Stakeholder Engagement4. Governance, Commitments and Stakeholder Engagement ReferenceReference
GOVERNANCEGOVERNANCE
4.1 Governance structure of the organization, including committees
under the highest governance body responsible for specific tasks, such
as setting strategy or organizational oversight.
Principles, policies and stakeholders / CR
principles, policies and governanceCGR (pages 8-
46)
4.2 Indicate whether the Chair of the highest governance body is also an
executive officer (and, if so, their function within the organization’s
management and the reasons for this arrangement).
CGR (page 9-10)
4.3 For organizations that have a unitary board structure, state the
number of members of the highest governance body who are
independent and/or non-executive members.
CGR (pages 9-12)
4.4 Mechanisms for shareholders and employees to provide
recommendations or direction to the highest governance body.
Principles, policies and stakeholders /
StakeholdersRB / Human Resources / Working
conditionsCGR (pages 58-
63)
http://shareholdersandinvestors.bbva.com
4.5 Linkage between compensation for members of the highest
governance body, senior managers, and executives (including departure
arrangement), and the organization’s performance including social and
environmental performance).
RB / Human Resources / Recruitment and
remunerationCGR (pages 18-22, 38-40)RBDRP
4.6 Processes in place for the highest governance body to ensure
conflicts of interest are avoided.CGR (pages 47-48)
4.7 Process for determining the qualifications and expertise of the
members of the highest governance body for guiding the organization’s
strategy on economic, environmental, and social topics.
CGR (pages 23-24)
4.8 Internally developed statements of mission or values, codes of
conduct, and principles relevant to economic, environmental, and social
performance and the status of their implementation.
Principles, policies and stakeholders/ CR
principles, policies and governance & Standards of
conduct and other commitments
4.9 Procedures of the highest governance body for overseeing the
organization’s identification and management of economic,
environmental, and social performance, including relevant risks and
Principles, policies and stakeholders/ CR
principles, policies and governance & Standards of
conduct and other commitmentsCGR (pages 49-
50, 57-58 )
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opportunities, and adherence or compliance with internationally agreed
standards, codes of conduct, and principles.
4.10 Processes for evaluating the highest governance body’s own
performance, particularly with respect to economic, environmental, and
social performance.
CGR (pages 23-24)
COMMITMENTS TO EXTERNAL INITIATIVESCOMMITMENTS TO EXTERNAL INITIATIVES
4.11 Explanation of whether and how the precautionary approach or
principle is addressed by the organization.
RB / The environment / CFS (pages 47-50)BR /
Responsible Finance / Integrating ESG variables
into risk management
4.12 Externally developed economic, environmental, and social
charters, principles, or other initiatives the organization subscribes or
endorses.
Principles, policies and stakeholders Community
involvement / EducationBR / Responsible Finance
/ Integrating ESG variables into risk management /
Equator PrinciplesRB / The environment
4.13 Memberships in associations (such as industry associations) and/or
national/international advocacy organizations.
Principles, policies and stakeholdersRB /
Responsible FinanceRB / The environment
STAKEHOLDER ENGAGEMENTSTAKEHOLDER ENGAGEMENT
4.14 List of stakeholder groups engaged by the organization.Principles, policies and stakeholders /
Stakeholders
4.15 Basis for identification and selection of stakeholders with whom to
engage.
Principles, policies and stakeholders /
Stakeholders
4.16 Approaches to stakeholder engagement, including frequency of
engagement by type and by stakeholder group.
Principles, policies and stakeholders /
Stakeholders
4.17 Key topics and concerns that have been raised through stakeholder
engagement, and how the organization has responded to those key
topics and concerns, including through its reporting.
Principles, policies and stakeholders /
Stakeholders / Relevant issues & Controversial
issues
Disclosure on management approach / core indicatorsDisclosure on management approach / core indicators
Economic Performance IndicatorsEconomic Performance Indicators ReferenceReference Assurance Scope
Disclosure on Management Approach
Profile, progress and goalsPrinciples,
policies and stakeholders / CR
management system and strategic
focus Financial literacyRB / Customer
focus, Human Resources, Responsible
Procurement, Responsible
FinanceCommunity involvement
ECONOMIC PERFORMANCE
EC1: Direct economic value generated and distributed,
including revenues, operating costs, employee
compensation, donations and other community investments,
retained earnings, and payments to capital providers and
governments.
Principles, policies and stakeholders /
BBVA’s Impact on society✓
EC2. Financial implications and other risks and opportunities
for the organization’s activities due to climate change.
RB / The environment / Global Eco-
efficiency Plan and enviromental
footprint
✓ (1)
EC3. Coverage of the organization’s defined benefit plan
obligations.
RB / Human Resources / Working
conditions & Passion for peopleCFS
(pages 124-132)
✓
EC4. Significant financial assistance received from
government.RB / Human Resources / Training ✓ (7)
MARKET PRESENCE
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EC6. Policy, practices, and proportion of spending on locally-
based suppliers at significant locations of operation.RB / Responsible procurement ✓
EC7. Procedures for local hiring and proportion of senior
management hired from the local community at locations of
significant operation.
RB / Human Resources / Diversity &
Recruitment and remuneration✓
INDIRECT ECONOMIC IMPACTS
EC8. Development and impact of infrastructure investments
and services provided primarily for public benefit through
commercial, in kind, or pro bono engagement.
Financial literacyRB / Customer focus /
Responsible product and service
designRB / Human Resources /
Entrepreneurship and employment
support Community Involvement”
✓
Environmental Performance Indicators (a)Environmental Performance Indicators (a) ReferenceReference Assurance Scope
Disclosure on Management Approach
RB / Responsible Finance / Integrating
ESG variables into risk managementRB
/ The environment
MATERIALS
EN1. Materials used by weight or volume.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦
EN2. Percentage of materials used that are recycled input
materials.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦
ENERGY
EN3. Direct energy consumption by primary energy source.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦
EN4. Indirect energy consumption by primary source.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦ (2)(3)(4)
WATER
EN8. Total water withdrawal by source.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦ (2)(4)
BIODIVERSITY
EN11. Description of land adjacent to or in protected areas
and areas of high biodiversity value outside protected areas.Immaterial *
EN12. Description of significant impacts of activities,
products, and services on biodiversity in protected areas and
areas of high biodiversity value outside protected areas.
Immaterial *
EMISSIONS, EFFLUENTS AND WASTE
EN16: Total direct and indirect greenhouse gas emissions by
weight.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦ (2)(5)
EN17. Other relevant indirect greenhouse gas emissions by
weight.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦ (2)
EN19. Emissions of ozone-depleting substances by weight. Immaterial *
EN20. NO, SO, and other significant air emissions by type
and weight.Immaterial *
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EN21. Total water discharge by quality and destination. Immaterial *
EN22: Total weight of waste by type and disposal method.
RB / The environment / Global Eco-
efficiency Plan and Environmental
footprint
♦
EN23. Total number and volume of significant spills. Immaterial *
PRODUCTS AND SERVICES
EN26. Initiatives to mitigate environmental impacts of
products and services, and extent of impact mitigation.
RB / Responsible Finance / Integrating
ESG variables into risk management/
Equator Principles
♦ (6)
EN27. Percentage of products sold and their packaging
materials that are reclaimed by category.Immaterial *
COMPLIANCE
EN28. Monetary value of significant fines and total number
of non-monetary sanctions for non-compliance with
environmental laws and regulations.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
✓
Social Performance Indicators: Labor Practices and DecentSocial Performance Indicators: Labor Practices and Decent
Work (b)Work (b)ReferenceReference Assurance Scope
Disclosure on Management Approach RB / Human Resources
EMPLOYMENT
LA1. Total workforce by employment type, employment
contract, and region.RB / Human Resources / Diversity ✓
LA2. Total number and rate of employee turnover by age
group, gender, and region.RB / Human Resources / Diversity ✓
LABOR/MANAGEMENT RELATIONS
LA4. Percentage of employees covered by collective labor
agreements.
RB / Human Resources / Working
conditions✓ (7)
LA5. Minimum notice period(s) regarding operational
changes, including whether it is specified in collective
agreements.
RB / Human Resources / Working
conditions✓ (6)
OCCUPATIONAL HEALTH & SAFETY
LA7. Rates of injury, occupational diseases, lost days, and
absenteeism, and number of work-related fatalities by region.
RB / Human Resources / Working
conditions✓ (8)
LA8. Education, training, counseling, prevention, and risk-
control programs in place to assist workforce members, their
families, or community members regarding serious diseases.
RB / Human Resources / Working
conditions✓
TRAINING AND EDUCATION
LA10. Average hours of training per year per employee by
employee category.RB / Human Resources / Training ✓ (9)
DIVERSITY AND EQUAL OPPORTUNITY
LA13. Composition of corporate governance bodies and
breakdown of employees per category according to gender,
age group, minority group membership, and other indicators
of diversity.
RB / Human Resources / DiversityCGR
(pages 8-12)✓ (10)
LA14. Ratio of basic salary of men to women by employee
category.
RB / Human Resources / Recruitment
and remuneration✓
Social Performance Indicators: Human Rights (c)Social Performance Indicators: Human Rights (c) ReferenceReference Assurance Scope
Disclosure on Management Approach Principles, policies and stakeholders /
Standards ofconduct and other
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commitments
RB / Responsible Finance
RB / Human Resources / Working
conditionsRB / Responsible
procurement
INVESTMENT AND PROCUREMENT PRACTICES
HR1: Percentage and total number of significant investment
agreements that include human rights clauses or that have
undergone human rights screening.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
RB / Responsible Finance / Integrating
ESG variables into risk management
✓ (11)
HR2. Percentage of significant suppliers and contractors that
have undergone screening on human rights and actions
taken.
RB / Responsible procurement ✓ (6)
NON-DISCRIMINATION
HR4. Total number of incidents of discrimination and actions
taken.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
✓ (6)
FREEDOM OF ASSOCIATION AND COLLECTIVE LABOR AGREEMENTS
HR5. Operations identified in which the right to exercise
freedom of association and collective labor agreements may
be at significant risk, and actions taken to support these
rights.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
RB / Human Resources / Working
conditions
✓
CHILD LABOR
HR6. Operations identified as having significant risk for
incidents of child labor, and measures taken to contribute to
the elimination of child labor.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
✓
FORCED AND COMPULSORY LABOR
HR7. Operations identified as having significant risk for
incidents of forced or compulsory labor, and measures to
contribute to the elimination of forced or compulsory labor.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
✓
Social Performance Indicators: Society (d)Social Performance Indicators: Society (d) ReferenceReference Assurance Scope
Disclosure on Management Approach
Principles, policies and stakeholdersRB
/ Responsible finance / Prevention of
money laundering and terrorist
financingCommunity Involvement
COMMUNITY
SO1. Nature, scope, and effectiveness of any programs and
practices that assess and manage the impacts of operations
on communities, including entering, operating, and exiting.
Principles, policies and stakeholders /
CR principles, policies and governance
& BBVA’s Impact on society
Financial literacy
Financial Inclusion / BBVA
Microfinance Foundation
RB / Responsible Finance /
Integrating ESG variables into
risk management
Community involvement /
Education
✓
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CORRUPTION
SO2. Percentage and total number of business units analyzed
for risks related to corruption.
RB / Responsible Finance / Internal
Audit✓
SO3. Percentage of employees trained in organization’s anti-
corruption policies and procedures.
RB / Responsible finance / Prevention
of money laundering and terrorist
financing
✓ (13)
SO4. Actions taken in response to incidents of corruption.
RB / Responsible finance / Prevention
of money laundering and terrorist
financing & Prevention of fraud
✓ (6)
PUBLIC POLICY
SO5. Public policy positions and participation in public policy
development and lobbying.
Principles, policies and stakeholders /
Standards of conduct and other
commitmentsCommunity Involvement
✓ (12)
COMPLIANCE
SO8. Monetary value of significant fines and total number of
non-monetary sanctions for non-compliance with laws and
regulations.
Principles, policies and stakeholders /
Standards of conduct and other
commitmentsCFS (note 25)
✓
Social Performance Indicators: Performance Indicators (e)Social Performance Indicators: Performance Indicators (e) ReferenceReference Assurance Scope
Disclosure on Management Approach
Principles, policies and stakeholders /
Standards of conduct and other
commitments
RB / Customer focus / Security and
protection, Business continuity & TCR
communication
CUSTOMER HEALTH & SAFETY
PR1. Life-cycle stages in which health and safety impacts of
products and services are assessed for improvement, and
percentage of significant products and services categories
subject to such procedures.
RB / Customer focus /Quality,
satisfaction and customer service;
Security and protection, Business
continuity & Responsible product and
service design
CFS (Management Report 38-41)
6)
PRODUCT AND SERVICE LABELING
PR3. Type of product and service information required by
procedures, and percentage of significant products and
services subject to such information requirements.
RB / Customer focus /Quality,
satisfaction and customer service;
Transparent, Clear and Responsible
Communication
CFS (Management Report 38-41)
✓
MARKETING COMMUNICATIONS
PR6. Programs for adherence to laws, standards, and
voluntary codes related to marketing communications,
including advertising, promotion, and sponsorship.
RB / Customer focus / Transparent,
Clear and Responsible Communication✓
COMPLIANCE
PR9. Monetary value of significant fines for non-compliance
with laws and regulations concerning the provision and use
of products and services.
Principles, policies and stakeholders /
Standards of conduct and other
commitments
CFS (note 25)
✓
Financial sector supplementFinancial sector supplement
Impact of products and servicesImpact of products and services ReferenceReference Assurance ScopeAssurance Scope
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Disclosure on Management Approach Principles, policies and stakeholders
RB / Responsible Investment
FS1: Policies with specific environmental and social
components applied to business lines.
RB / Responsible Finance /
Integrating ESG variables into risk
management
RB / The environment / Global Eco-
efficiency Plan and enviromental
footprint
✓
FS2: Procedures for assessing and screening environmental
and social risks in business lines.
RB / Responsible Finance /
Integrating ESG variables into risk
management
✓
FS3: Processes for monitoring clients’ implementation of and
compliance with environmental and social requirements
included in agreements or transactions.
RB / Responsible Finance /
Integrating ESG variables into risk
management
✓
FS4: Process(es) for improving staff competency to
implement the environmental and social policies as applied to
business lines.
RB / Responsible Finance /
Integrating ESG variables into risk
management
RB / The environment /
Environmental training and
awareness
✓
FS5: Interactions with clients/investees/business partners
regarding environmental and social risks and opportunities.
Principles, policies and stakeholders
/ Stakeholders Financial Literacy/
Financial literacy initiatives in
conjunction with institutions
✓
PRODUCT PORTFOLIO
FS6: Percentage of the portfolio for business lines by specific
region, size (e.g. micro/SME/large) and by sector.
BBVA in 2012 (pages 135, 149,
159, 171, 186, 196, 201)✓
FS7: Monetary value of products and service designed to
deliver a specific social benefit for each business line broken
down by purpose.
RB / Responsible Investment ✓
FS8: Monetary value of products and services designed to
deliver a specific environmental benefit for each business line
broken down by purpose.
RB / The environment / Climate
change and renewable energy
funding
✓
AUDIT
FS9: Coverage and frequency of audits to assess the
implementation of environmental and social policies and risk
assessment procedures.
RB / Responsible Finance /
Integrating ESG variables into risk
management & Internal Audit
✓
ACTIVE OWNERSHIP
FS10: Percentage and number of companies held in the
institution’s portfolio with which the reporting organization
has interacted on environmental or social issues.
RB / Responsible Investment ✓ (6)
FS11: Percentage of assets subject to positive and negative
environmental or social screening.
RB / Responsible Finance /
Integrating ESG variables into risk
management
RB / Responsible Investment /
Socially Responsible Investment
✓ (13)
FS12: Voting policies applied to environmental or social
issues for shares over which the reporting organization holds
the right to vote shares or advises on voting.
RB / Responsible Investment /
Socially Responsible Investment✓
Social Performance Indicators: SocietySocial Performance Indicators: Society ReferenceReference Assurance ScopeAssurance Scope
Disclosure on Management Approach Profile, progress and goals/
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Progress 2012 and goals 2013
Financial inclusion
COMMUNITY
FS13: Access points in low-populated or economically
disadvantaged areas by type
Profile, achievements and goals/
Progress 2012 and goals 2013
Financial inclusion
(6)
FS14: Initiatives to improve access to financial services for
disadvantaged people.Financial inclusion ✓
Social Performance Indicators: Product ResponsibilitySocial Performance Indicators: Product Responsibility ReferenceReference Assurance ScopeAssurance Scope
Financial literacy Financial Inclusion
/ BBVA Microfinance FoundationRB
/ Customer focus / Quality,
satisfaction and customer service,
Security and protection, and
business continuity, TCR
communication & Responsible
product and service design
Community involvement /
Education
CUSTOMER HEALTH & SAFETY
FS15: Policies for the fair design and sale of financial
products and services.
Principles, policies and stakeholders
/ Standards of conduct and other
commitments
RB / Customer focus / Quality,
satisfaction and customer service,
Security and protection, Business
continuity, TCR communication &
Responsible product and service
design
✓
MARKETING COMMUNICATIONS
FS16: Initiatives to enhance financial literacy by type of
beneficiary.
Financial literacy Financial
Inclusion/ BBVA Microfinance
Foundation
Community involvement/ Education
✓
LegendLegend
Leyend
CGR Corporate Governance Report 2012
AR Annual Report 2012 BBVA in 2012CFS Consolidated Financial
Statements 2012
RBDRP Report on the Board of Directors’ Remuneration Policy 2012
RB Responsible Banking
Areas and units chiefly
responsible
(a) Risks, Premises and Services, Corporate Responsibility and business areas.(b) Human
Resources.(c) Human Resources and Compliance.
(d) Corporate Responsibility and Compliance.
(e) Communication and Image, Compliance and business areas.
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Reason for the omission of
the following main GRI
indicators from the CR
Report 2012
EN11: Immaterial indicator. The BBVA Group offices are in urban settings, which therefore
have no impact on protected natural areas and/or biodiversity.EN12: Immaterial indicator.
The BBVA Group offices are in urban settings, which therefore have no impact on protected
natural areas and/or biodiversity.EN19: Immaterial indicator. Regarding the use of substances
that are harmful to the ozone layer, there are no installations containing significant amounts
of CFCs in BBVA Group buildings.
EN20: Immaterial indicator. Given that the BBVA Group belongs to the
service sector, SO and NO emissions are insignificant as they are
produced solely by staff commuting.
EN21: Immaterial indicator. BBVA Group offices are in urban settings, so
waste is discharged through sewers.
EN23: Immaterial indicator. BBVA Group offices are in urban settings, so
water is supplied through the urban network and discharged through
sewers.
EN27: Immaterial indicator. The products that BBVA Group markets do
not have a significant impact in this regard.
Notes on scope and assurance.Notes on scope and assurance.
✓ Group♦ Group, except Unim and Puerto Rico
(1) Only the projects financed by the Equator Principles that mitigate climate change are given.
(2) 2011 data are updated using the definitive country data.
(3) Not broken down by primary source.
(4) The 2012 data for water and electricity in Venezuela and water in the U.S. use estimates
based on available information, as the verification is not complete as of the date of preparation
of the report.
(5) The CO2 emitted per employee includes BBVA Spain’s purchase of green energy.
(6) Only qualitative information is included.
(7) Only reported for BBVA Spain.
(8) Only the absenteeism rate is reported.
(9) Not broken down by category
(10) Only broken down by age and sex.
(11) Only the financing of large projects is reported.
(12) Only international agreements relating to sustainability are reported.
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(13) The percentage is not reported.
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