BBVA, “Outstanding solution in sustainable financing” at the Transaction Banking Global Innovation Awards 2024

This award recognizes BBVA's unwavering commitment to making sustainable and socially committed transactional banking available to everyone and, therefore, having a positive impact on the lives of people, companies, and society as a whole. 

BBVA has received the award for the "Outstanding Solution in Sustainable Financing" at the Transaction Banking Global Innovation Awards 2024 for BBVA's Global Sustainable Supply Chain Financing Solution.

This award recognizes BBVA's efforts to offer innovative solutions that generate value for its clients and contribute to a more sustainable future.

In the words of Eva Rubio, Head of Global Transaction Banking BBVA: "This recognition underscores BBVA's continued dedication to innovation in sustainable finance and motivates us to continue along this path. At BBVA, we firmly believe in the importance of integrating sustainability into all business areas. For this reason, we have developed a solution that makes it easier for companies to manage their supply chains from a sustainable perspective. Our proposal goes beyond financing, and encompasses comprehensive support."

The big change in this year's service, which has been one of the winners at THE DIGITAL BANKER, has to do with the analysis and diagnosis of the sustainability of suppliers through different tools, such as a carbon footprint calculator to identify the main emitters, the analysis of the importance of ESG, and the establishment of engagement plans with traceable and measurable objectives. In addition, tailor-made sustainable solutions are provided for suppliers, including advice and financing for suppliers active in supply chain finance programs.

Sustainable results that drive progress

Within this BBVA strategy, two main pillars of action are established. Firstly, to promote new businesses through sustainability so that by 2025 we can reach 300 billion euros channeled into sustainable models. Secondly, to achieve net zero emissions by 2050, a goal that suppliers and clients must also be aware of.

Eva Rubio underscored that "supply chain financing allows BBVA to achieve both objectives and help buyers reduce their scope 3 emissions, which in turn allows us to reduce BBVA's carbon footprint. In addition, being able to provide this solution to our clients has strengthened our value proposition by maximizing client loyalty, better understanding our clients' business and challenges globally, and being a key partner and advisor for their ESG and working capital management strategies."