Powering the Future: BBVA's Sustainable Finance Transformation in the U.S.

BBVA, the global financial institution, is making a bold move to position itself as the leading player in sustainable finance in the United States. With a focus on supporting decarbonization projects and promoting sustainable development, the bank is aiming to make sustainability a key driver of growth and solidify its presence in the rapidly evolving energy transition landscape.

Unlocking the Potential of Sustainable Finance

Driving Sustainable Growth

BBVA's U.S. sustainability strategy is centered on supporting energy companies and businesses that are at the forefront of sustainable development. This includes not only traditional renewable technologies like wind and solar, but also emerging "cleantech" solutions such as energy storage systems, hydrogen, and carbon capture. The bank is also targeting sectors like electric vehicles, energy efficiency, and the circular economy, recognizing the critical role these industries play in the transition to a more sustainable economy.By providing financing and advisory services, BBVA aims to help companies transition to more sustainable business models. This strategic approach aligns with the bank's broader goal of mobilizing €300 billion in sustainable business between 2018 and 2025, a target it has already made significant progress towards, reaching €252 billion as of June 2024.

Harnessing the Power of Houston

The United States, with its unique position as a global leader in the energy sector, presents a remarkable opportunity for BBVA to drive the transition to a more sustainable future. The bank has identified Houston, the self-proclaimed "energy transition capital of the world," as a key component of its sustainability strategy.With over 4,700 energy-related companies and groundbreaking leadership in the sector, Houston has become a global hub for companies at the forefront of decarbonization efforts. BBVA's new Houston location will work in tandem with its cleantech innovation finance teams in New York, London, and Madrid, leveraging the city's expertise and resources to accelerate the bank's sustainable finance initiatives.

Expanding BBVA's Footprint in the U.S.

The establishment of BBVA's Houston office is not just a strategic move for the bank's sustainability efforts; it also represents a broader expansion of its presence in the United States. The bank has recently welcomed BBVA Mexico's nearshoring unit, which will supplement the long-established Houston agency's operations.By the end of 2025, the Houston location is expected to house approximately 100 BBVA Group employees, making it a significant growth focus for the bank. This investment underscores BBVA's commitment to the U.S. market and its belief in the country's pivotal role in the global energy transition.

Positioning BBVA as a Sustainable Finance Leader

"We aim to make sustainability a driver of growth, support decarbonization projects, and position BBVA as the leading player in sustainable finance in the United States," says Javier Rodríguez Soler, BBVA's Global Head of Sustainability and CIB.This bold statement reflects the bank's strategic vision and its determination to be at the forefront of the sustainable finance revolution. By leveraging its expertise, resources, and global reach, BBVA is poised to play a transformative role in shaping the future of energy and finance in the United States and beyond.