BBVA has reached 560 million euros (630 million dollars) of committed investment in funds specialized in decarbonization. Through these vehicles, the bank accesses technologies and projects with high growth potential, strengthens its relationship with major international managers, and opens new financing avenues for the energy transition.
After an initial phase focused on deeply understanding the climate ecosystem and gaining presence in this area, the entity is now focusing on "more mature and scalable platforms, with greater capacity to drive fundable projects and accelerate the business."
The global head of Sustainability and CIB at BBVA, Javier Rodríguez Soler, emphasizes that the energy transition requires "mobilizing large volumes of capital and working alongside the main investors" who are leading this change.
"Our investment strategy in climate funds allows us to identify opportunities in advance, expand our capacity to finance decarbonization projects, and strengthen our role as a reference financial partner in the transition to a low-carbon economy," he has stated.
In the last two years, the bank has notably accelerated the execution of this strategy and has quadrupled its commitment to decarbonization funds. At the same time, BBVA has tightened cooperation with some of the major international investment managers in energy transition through strategic agreements.
In September 2024, the entity committed 175 million euros (200 million dollars) with KKR, whose funds support the deployment of climate solutions, the development of new decarbonization technologies, and the transformation of industrial sectors with high emissions. At the beginning of this year, BBVA also announced a strategic alliance with Alterra, which includes an investment commitment of 220 million euros (250 million dollars).
At the same time, the bank continues to expand its range of specialized climate funds. The most recent operation amounts to 15 million euros (17 million dollars) in EQT, a fund that supports companies dedicated to energy transition and promoting a "more efficient use of resources" circular economy.
Investments in previous years
In the past exercise, BBVA allocated 18 million euros (20 million dollars) to Apollo Global, whose fund finances established companies seeking to accelerate their transition to business models with lower emissions, and another 9 million euros (10 million dollars) to NIO Capital, focused on companies in early and expansion stages linked to major trends in digitalization, decarbonization, and innovation in artificial intelligence.
In 2024, the entity committed 22 million euros (25 million dollars) to TPG Rise Climate II, aimed at investments in clean electricity, clean molecules and materials, as well as adaptation solutions.
The investments formalized between 2022 and 2023 formed the core of this roadmap, with entry into specialized funds in green hydrogen, carbon capture, nuclear fusion, decarbonization of the real estate sector, hard-to-decarbonize industries, biogas, and circular economy, as well as in companies focused on the industrial scaling of climate solutions.
Among these vehicles are Lowercarbon, with 40 million euros (45 million dollars); Decarbonization Partners, with 22 million euros (25 million dollars); Just Climate, with 18 million euros (20 million dollars); Hy24, with 10 million euros (11 million dollars); Fifth Wall Climate, with 9 million euros (10 million dollars); and Suma Capital, with 4 million euros (5 million dollars).
With these new bets, BBVA consolidates a strategy that combines "access to the main international climate investment platforms with the generation of financing opportunities to support companies and projects in their decarbonization process," with the aim of mobilizing capital towards the energy transition and contributing to a more sustainable economy.
In this line, sustainability remains one of the bank's strategic priorities and acts as a "growth engine" for the entity. The group has channeled 134 billion euros in sustainable business in 2025, a historic annual maximum that implies a 44% increase compared to the previous year. In the second quarter of 2026, it has reached 82 billion euros in sustainable business and, from 2025 to that quarter, totals 216 billion euros within its goal of mobilizing 700 billion euros in the period 2025-2029.
In addition, BBVA has confirmed its participation as a global bank (Global Banking Partner) of the United Nations Conference on Climate Change (COP31), which will take place from November 9 to 20 in Antalya (Turkey). Through this collaboration, the entity will work alongside the presidency of the climate summit and the United Nations to continue promoting the financing of the energy transition and accelerate the implementation of solutions "towards a low-carbon economy".