Double Materiality Analysis
DOUBLE MATERIALITY ANALYSIS – RESULTS (BBVA GROUP -2024)
* Includes Entity-specific: Anti-Money Laundering, Cybersecurity, and Data Protection
EVALUATION WITHIN THE SCOPE OF GARANTI BBVA
The topics identified as material as a result of the BBVA Group’s double materiality analysis, from Garanti BBVA’s perspective;
- scope of activities,
- its role within the value chain, and
- governance
were evaluated by senior management, taking these factors into consideration.
As a result of this evaluation, it was concluded that the topics defined as material by the BBVA Group are aligned with Garanti BBVA’s activities and areas of responsibility, and that they holistically reflect the Bank’s sustainability priorities.
Garanti BBVA approaches double materiality as a dynamic process and aims to review this approach when necessary, in line with updates at the BBVA Group level, strategic priorities, and changes in stakeholder expectations.
INTEGRATION OF DOUBLE MATERIALITY ANALYSIS INTO STRATEGY
At Garanti BBVA, material topics are not merely headings that define the scope of reporting; they are core elements that shape our strategic direction and guide our decision-making processes. The material topics identified in line with the BBVA Group’s double materiality analysis are addressed in an integrated manner with our Bank’s business model, risk management approach, and sustainable growth objectives.
Our Radical Client Perspective, our capital-generating growth ambition, and our strategic framework positioning sustainability as a fundamental driver of growth form the basis of our actions regarding these material topics. The targets defined across areas ranging from climate change to employee experience, and from customer satisfaction to business ethics, are monitored in an integrated manner through governance mechanisms, performance indicators, and risk management processes.
The table below presents how our material topics are integrated into our strategy, the key actions undertaken within this scope, and their alignment with our strategic priorities.
| Climate Change |
- Increasing the volume of sustainable finance
- Providing financing for renewable energy and sustainable infrastructure projects
- Integration of low-carbon transition risks into risk management
- Monitoring portfolio emissions and implementing climate scenario analyses
- Providing sustainability advisory services to customers during the transition process
|
- Boost sustainability as a growth engine
- Boost sustainability as a growth engine
- Promote a value and capital creation mindset
- Promote a value and capital creation mindset
- Boost sustainability as a growth engine
|
| Employees (Own Workforce) |
- Promoting the Radical Client Perspective culture
- Implementing action plans based on Employee Engagement Survey results
- Integrating empathy competency into the performance system
- Actions supporting work-life balance and employee well-being
- Physical and administrative OHS measures
- Supporting an inclusive and development-oriented work environment
|
- Strengthen Our Empathy, Succeed as a Winning Team
- Strengthen Our Empathy, Succeed as a Winning Team
- Embed a Radical Client Perspective in all we do
- Strengthen Our Empathy, Succeed as a Winning Team
- Strengthen Our Empathy, Succeed as a Winning Team
- Strengthen Our Empathy, Succeed as a Winning Team
|
| Consumers and End Users |
- Actions aimed at delivering a unique customer experience in line with the Radical Client Perspective
- Systematically monitoring customer feedback and taking necessary actions
- Enhancing experience across customer touchpoints (branch, digital channels, contact center) and becoming the primary solution partner for retail and corporate customers
- Scaling AI-powered solutions
- Enhancing transparent communication and responsible product design
- Developing payment systems solutions and products
- Financial health and advisory tools
|
- Embed a Radical Client Perspective in all we do
- Embed a Radical Client Perspective in all we do
- Embed a Radical Client Perspective in all we do
- Scale up all enterprise segments
- Embed a Radical Client Perspective in all we do
- Unlock the potential of AI and innovation through data availability and Next Gen Tech
- Embed a Radical Client Perspective in all we do
- Promote a value and capital creation mindset
- Embed a Radical Client Perspective in all we do
- Scale up all enterprise segments
|
| Business Ethics & Conduct* |
- Strengthening AML and counter-terrorist financing processes
- Ensuring full compliance of data protection practices with legislation
- Strengthening cybersecurity infrastructure
- Monitoring and managing third-party risks
|
- Embed a Radical Client Perspective in all we do
- Embed a Radical Client Perspective in all we do
- Embed a Radical Client Perspective in all we do
- Unlock the potential of AI and innovation through data availability and Next Gen Tech
- Embed a Radical Client Perspective in all we do
|
* Including Anti-Money Laundering, Cybersecurity, and Data Protection topics