BBVA published its Green Bonds Report 2025 on Tuesday, showing that projects financed by its green bonds avoided an estimated 2.9 million tons of CO2 emissions during the year, up 51% from 2024.
The bank had 20 green bonds outstanding at year-end 2025, with an equivalent value of €5.666 billion, the report showed.
RENEWABLE ENERGY DOMINATES ALLOCATIONS
Renewable energy accounted for 64% of allocations, equivalent to €3.652 billion, spread across 287 loans linked to 58 projects in nine countries. The report estimated that financed projects generated nearly 11.5 million MWh of renewable energy in 2025, an amount BBVA said was equivalent to the annual consumption of about 3.2 million European households.
BBVA also allocated €815 million to energy efficiency projects, representing 14% of the portfolio, and close to €605 million to low-emission buildings, representing 11% of the portfolio. A UK project involving the transport and management of captured CO2 received close to €50 million, with the impact attributable to BBVA's financing estimated at more than 181,000 tons of CO2 a year.
REPORT DETAILS ALLOCATION AND IMPACT
The Green Bonds Report 2025 provides BBVA's annual accounting of how proceeds from its green bond programme have been deployed, alongside estimates of the environmental impact generated.
Clean transportation received around €500 million, used to finance rail infrastructure, low-emission vehicles and electric vehicle charging points. BBVA is aiming to channel €700 billion in sustainable business between 2025 and 2029.
The renewable energy projects span nine countries on four continents: Europe, Asia, North America and South America.
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