BBVA Issues First COVID-19 Social Bond

BBVA is the first private financial institution in Europe to issue a COVID-19 social bond. The bond, launched under BBVA’s framework for green, social and sustainable issues, received 298 orders from investors, of which more than two thirds were from investors with ESG criteria.

The bond issue is part of BBVA’s Pledge 2025 to mobilize €100 billion between 2018 and 2025 to fight climate change and promote sustainable development. It also reinforces the bank’s leadership as an issuer of bonds tied to the United Nations’ Sustainable Development Goals, a pioneering institution for green bonds in Spain, and now for COVID-19 social bonds in Europe.

The COVID-19 pandemic is making the business case for the relevance of Environmental, Social, and Governance (ESG) factors in ensuring companies’ resilience. To be able to bounce forward from the pandemic, it is paramount to scale-up the adoption of sustainable investing.

How? Through European Pact for Sustainable Industry. Under the umbrella of the Pact, companies can collaborate constructively, actively and on an ongoing basis with their industry federations to create value to society by re-orienting capital flows towards more sustainable activities.

Companies and industry federations who join the Pact will have the opportunity to benefit from the consolidated experience of our community of practice on “Total Impact Disclosure”.