In 2024, BBVA completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
BBVA has also provided a category-level breakdown for 9 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 41,856a | 39,859a | 41,380b | |
Total Scope 2 | ||||
Market-Based | 4,481a | 6,995a | 11,507b | |
Location-Based | 198,679a | 193,690a | 202,770b | |
Total Scope 3 | 1,346,871.6a | 1,452,452.1a | 33,435b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.0252a | 1.219a | 1.383b |
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In 2024, the total operational greenhouse gas (GHG) emissions of BBVA amounted to 240,535 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of BBVA increased by 2.99%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of BBVA were 41,856 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, BBVA's Scope 1 emissions have increased by 144.89%, reflecting a rising long-term trend in Scope 1 emissions over time.ac
Compared to the previous year (2023), BBVA's Scope 1 emissions increased by 5.01%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, BBVA reported Scope 2 greenhouse gas (GHG) emissions of 4,481 tCO₂e using the market-based method and 198,679 tCO₂e using the location-based method.a
Since 2019, BBVA's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 38.89%, reflecting a declining long-term trend in Scope 2 emissions over time.ac
Compared to the previous year (2023), BBVA's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that BBVA's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, BBVA reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, BBVA reported 1,346,871.6 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of BBVA includes a breakdown across 9 of the 15 Scope 3 categories defined by the GHG Protocol, up from 7 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, BBVA reported total Scope 3 emissions of 1,346,871.6 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 99.75% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0.25% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, BBVA's Scope 3 emissions have increased by 2,275.43%, reflecting a rising long-term trend in Scope 3 emissions over time.ac
Compared to the previous year (2023), BBVA's Scope 3 emissions remained relatively stable, indicating that BBVA's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, BBVA reported emissions for 9 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to BBVA's Scope 3 emissions were:a
In 2024, BBVA reported Scope 1 greenhouse gas (GHG) emissions of 41,856 tCO₂e and total revenues of USD 40,827 millions. This translates into an emissions intensity of 1.03 tCO₂e per millions USD.a
In 2024, BBVA reported a Scope 1 emissions intensity of 1.03 tCO₂e per millions USD. Compared to the peer group median of 0.56, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, BBVA ranked 22 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places BBVA among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, BBVA reported a total carbon footprint of 1,587,406.6 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 5.85% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to BBVA's total carbon footprint was Scope 3 emissions, accounting for 84.85% of the company's total carbon footprint, followed by Scope 2 emissions at 12.52%.a