The 2030 Agenda integrates a transformative approach to achieve economic, social and environmental sustainability. Aware of the challenges brought by climate change, the BBVA Microfinance Foundation has made a commitment to the UN 2030 Agenda, through the implementation of a Sustainability Strategy. Its goal is to help our clients develop sustainable activities, while protecting natural resources and achieving a resilient growth that reduces their vulnerability when faced with natural disasters and climate change.
This new focus in the microfinance sector has led BBVAMF to define a line of work that covers two main areas of action: one is internal, the “Institutional Line”, and the other is external, the “Client Line”.
1. Institutional Line:
This line aims for ecological efficiency, through internal efforts that reduce resource consumption such as water and energy. It also establishes measures for adequate waste disposal, suitable management of our carbon footprint and operating efficiency.
BBVAMF has also implemented policies to avoid financing activities that can undermine the environmental balance. For such end, it has established mechanisms for controlling the socio-environmental risks of the productive activities it supports.
2. Client Line:
This line offers “(inclusive) green financing” tools to entrepreneurs who contribute to the preservation of natural resources and environmental sustainability, facilitating their access to efficient technologies that encourage lower resource consumption, greater budget savings and increased competitiveness.
With these measures, we intend to capacitate clients to proactively correct the negative consequences of their activities on the environment, making their businesses more sustainable.
To this effect, BBVAMFF has signed up to several agreements and partnerships, the most important of which was with UN Environment Program (UNEP), enabling Bancamía and Banco Adopem to implement the Microfinance for Ecosystems-based Adaptation (MEbA) program. It aims to provide personalized technical assistance and tailored products and services for vulnerable rural populations so they can invest in measures to adapt to climate changes, improving the resilience of their businesses and their revenues.
Through this diversified range of green savings, loan and insurance products, our microfinance institutions are also helping to transform the habits and attitudes of people, businesses and communities to whom our activities are directed, promoting the purposes that inspire the United Nations Principles for Responsible Banking that are currently under discussion and on the process of approval.