BBVA

The financial institution has publicly available policy statements committing to respect ILO core labour rights and expecting suppliers to do the same. It describes its process for assessing its human rights risks and discloses what it considers to be its salient human rights issues. Not only does the institution disclose its approach to lobbying and political engagement in a policy statement, but it also specifies that it does not make political contributions and reports its lobbying expenditures.

Furthermore, the financial institution has a stewardship policy that supports environmental transitions and social best practices in line with its sustainability strategy. The policy also covers client and other stakeholder engagement as well as advocacy and partnerships. It commits to respecting human rights in a publicly available statement and discloses actions taken to align its lobbying and public policy engagement with its sustainability strategy.

The institution also monitors its Scope 1-3 emissions and emissions from associated financing activities (Scope 3 category 15). It discloses the monetary amount or share of products, services, and capital provided to women-owned businesses and small- and medium-sized enterprises.

While the institution identifies material sustainability impacts across its value chain, further details on the processes and criteria for prioritisation could be provided. It discloses its participation and financial contributions to specific organizations but could provide a comprehensive list of trade associations to which it belongs to. Although it participates in global and regional initiatives to promote decarbonisation and the protection of biodiversity, it could commit to not using lobbying that would lead to adverse sustainability impacts.

Furthermore, the institution has time-bound and measurable targets for the provision of products, services, and capital for “green” solutions but it could specify the share devoted to climate solutions to enhance transparency. Besides, the institution should influence and support its client investees in setting strategies for nature protection and restoration beyond engagement to address environmental and social-related controversies.

It is recommended that the financial institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. The institution’s risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Additionally, it could strengthen its disclosure by providing an example of actions taken in the past three years to address salient human rights issues identified through risk assessments related to the products, services, and capital it offers.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.