Tuesday 26 May 2020

BBVA becomes ‘world’s first bank’ to calculate corporate carbon footprints using data analytics

Banco Bilbao Vizcaya Argentaria (BBVA) has become the 'world's first bank' to introduce data analytics to calculate companies' carbon footprints.

The new tool measures activity in business banking accounts related to electricity, gas or fuel expenditure and works out what this generates in terms of tonnes of carbon dioxide emitted into the atmosphere.

Once the company’s carbon footprint has been calculated, the tool shows a monthly progression together with associated energy costs.

BBVA One View also offers businesses practical recommendations regarding what measures could be adopted to be more energy-efficient and sustainable.

Daniel Navia, Global Director of Sustainable Solutions at BBVA, said: "Consumers are increasingly demanding that companies protect the environment and companies are increasingly requiring their suppliers to have an environmental policy.

"BBVA wants to help its corporate clients obtain a unique positioning, where that positive environmental impact is also compatible with more efficient and competitive technologies.

"The digitisation of these solutions is particularly useful to the SMEs that are just getting started in the sustainability journey and that need to reinvent themselves to respond to the changes that the coronavirus crisis has introduced in the economy and in our lives.”