BBVA Invests €71 Billion into Sustainable Business in First Three Quarters of 2024

BBVA has achieved a major milestone in sustainable finance, channeling €71 billion into sustainable initiatives in the first nine months of 2024, marking a 44% year-over-year increase. With €276 billion mobilized since 2018, the bank is on track to meet its €300 billion target by 2025. The Corporate and Investment Banking (CIB) unit played a key role, contributing €37 billion, including significant investments in cleantech and renewable energy. BBVA’s company banking segment saw a 55% growth, while the retail segment increased financing for hybrid and electric vehicles by 41%. The bank also expanded its sustainability operations with a new hub in Houston to support the U.S. energy transition. Resources: https://esgnews.com/bbva-invests-e71-billion-into-sustainable-business-in-first-three-quarters-of-2024/