Corporate Social Responsibility
As a Unit belonging to the BBVA Group, BBVA Asset Management shares the mission, vision and principles of its parent company, which are summarized in the following phrase:
We work for a brighter future for all people
The BBVA Group has lines of work in Corporate Responsibility relating to Financial Inclusion, Financial Education and Responsible Banking, in addition to Social Commitment activities in the countries where it is present.
By way of the Asset Management Unit, BBVA Asset Management works to incorporate criteria of Socially Responsible Investment (SRI) into its activity of design and management of products for each of the client sectors that invest in funds, plans and mandates. These are added to the generic exclusions imposed by the BBVA Group, such as the provision of financial investment services to companies involved in the development, production, maintenance or marketing of controversial weapons: anti-personnel mines, biological weapons, chemical weapons and cluster bombs (BBVA Group Procedure in Defense Matters 10/20/2004)
As the main actions we can cite the following:
BBVA Asset Managmenet, S.A., SGIIC manages solidarity or corporate social responsibility funds, vehicles than either allocate part of their management fees to welfare projects, or let their participants support to non-profit organizations. Below we describe the most important examples:
Balanced fixed-income fund in euros which invests less than 30% of the portfolio in equities. Every year the fund contributes 0.55% of the managed assets of the Fund to a series of non-profit organizations registered in Spain; the shareholder can decide to which of these organizations this percentage will be destined .
Variable income fund that mainly invests in shares of companies considered sustainable investments, i.e. investments in companies capable of integrating in their strategy and operating activities environmental, social and governance opportunities and risks with the perspective of creating value in the medium and long term for the investor. Additionally, the fund donates 15,000 euros a year to FIMA - FUNDACIÓN PARA LA INVESTIGACIÓN MEDICA APLICADA.
The BBVA Group and its Asset Management Unit, by way of Benefit and Pension Management (GPP), are signatories of the United Nations Principles of Responsible Investment (UN-PRI), as well as being members of the Spanish Responsible Investment Forum (Spainsif), whose aim is to promote the integration of environmental, social and good governance criteria into the investment policies of plans domiciled in Spain.
The commitment assumed in both forums means that the Unit has added SRI (Socially Responsible Investment) criteria to the investing process applied to employment pension plans, which is reflected in the following points:
- The investing process of BBVA AM includes ESG restrictions (Environmental, Social and Good Governance).
- Exercise of the Right to Vote in General Meetings of Stockholders.
- Information on SRI for fund shareholders.
- Promotion of SRI in Spain.