BBVA in 2012
BBVA in 2012
BBVA in 2012
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Corporate responsibilityCorporate responsibility (CR) pr<strong>in</strong>ciples,policies and governance<strong>BBVA</strong> works for abetter future forpeople follow<strong>in</strong>gthe pr<strong>in</strong>ciples of<strong>in</strong>tegrity, prudenceand transparencyThe mission of <strong>BBVA</strong>’s corporate responsibility policy is to def<strong>in</strong>e and promote behavior thatgenerates value for all its stakeholders (customers, employees, shareholders, suppliers and thecommunity).The Group’s CR commitments are aligned with our vision of “Work<strong>in</strong>g for a better futurefor people”, based on rigorous pr<strong>in</strong>ciples of <strong>in</strong>tegrity, prudence and transparency. The mostimportant of these commitments are:• Uphold excellence at all times <strong>in</strong> its core bus<strong>in</strong>ess operations.• Maximize the positive impacts of the bus<strong>in</strong>ess <strong>in</strong> the community, while m<strong>in</strong>imiz<strong>in</strong>g anypossible negative impacts.• Create “social bus<strong>in</strong>ess opportunities” to generate social and economic value for <strong>BBVA</strong>.• Invest <strong>in</strong> the communities where the Group operates through support to various <strong>in</strong>itiatives,particularly <strong>in</strong> the field of education.In <strong>BBVA</strong> CRfunctions aresupervised andpromoted by theBank’s highestexecutive body.In <strong>2012</strong> theResponsibleBus<strong>in</strong>essCommittee wascreated to assist itWith respect to organization, there was a major landmark <strong>in</strong> 2011 <strong>in</strong> the system of governanceof corporate responsibility: the Group’s Management Committee itself became the ma<strong>in</strong> bodysupervis<strong>in</strong>g and promot<strong>in</strong>g the functions of corporate responsibility and reputation (CRR). Inother words, the Bank’s highest executive body was entrusted with responsibility for theseissues.S<strong>in</strong>ce late <strong>2012</strong> the Responsible Bus<strong>in</strong>ess Committee has assisted the Management Committee<strong>in</strong> this task. This committee plans to meet three times a year. It is made up of the Chairmanand CEO, the President and COO; and the heads of the Bank’s two global l<strong>in</strong>es of bus<strong>in</strong>ess(Retail Bank<strong>in</strong>g and Corporate & Investment Bank<strong>in</strong>g) and Brand & Communication, HumanResources and Services, Legal Services, Audit and Compliance, and Corporate Responsibility andReputation (which functions as secretary).As a result of these changes, the system of governance of CRR is now organized as follows:• Board of Directors: responsible for approv<strong>in</strong>g and monitor<strong>in</strong>g corporate responsibility policy.• Management Committee, supported by the Responsible Bus<strong>in</strong>ess Committee: with thema<strong>in</strong> role of promot<strong>in</strong>g, supervis<strong>in</strong>g and coord<strong>in</strong>at<strong>in</strong>g the Group’s CRR programs and thosedeveloped by local banks and their foundations.• Local and bus<strong>in</strong>ess area management committees: responsible for promot<strong>in</strong>g and monitor<strong>in</strong>gCRR programs at a local or bus<strong>in</strong>ess area level. These committees are chaired by the countrymanager or manager of the bus<strong>in</strong>ess area <strong>in</strong> question (some of the Group’s banks, suchas <strong>BBVA</strong> Bancomer <strong>in</strong> Mexico and <strong>BBVA</strong> Prov<strong>in</strong>cial <strong>in</strong> Venezuela, have decided to keep theprevious system of local CRR committees).16 Executive summary