BBVA in 2012

To sum up, the combination of the above elements makes up a balanced system of remunerationwhich is consistent with the Group’s strategy and its values, and with the interests of its shareholders.Volunteer work and corporate responsibility initiativesfor employeesBBVA, very activein promotingvolunteer activitiesamong theiremployeesThe BBVA Group develops initiatives that make it possible for the team to participate in social projectsrequiring technical know-how and personal skills. A total of 4,334 employees have taken part involunteer work which represents the 4% of the total employees.In Spain, the BBVA Volunteer Office, which is run by early-retired and retired employees, maintains thecommitment to collaborate with the most disadvantaged groups and other community, educationalor environmental initiatives. The main volunteer projects carried out in 2012 have been the “Valores defuturo” (Future values) financial literacy program; the Sixth BBVA Charity Run; literacy and computingcourses; and environmental reforestation initiatives such as the “Bosques BBVA” (BBVA forests) project.The “Territorios Solidarios” (Solidarity territories) program has also been launched as an initiativeorganized by people for people. It is a program in which BBVA employees in Spain propose and selectsocial projects with which they feel involved or identified from among those developed by non-profitorganizations. The projects selected are then given financial assistance. In the first edition in 2012, a totalof €1.9m went to support projects presented by 202 selected organizations in areas such as education,community support, culture, the environment and care for the most disadvantaged groups in society.In Latin America similar reforestation activities have been undertaken with volunteers, with a verygood uptake by the employees taking part. In Argentina BBVA Francés has started the “Concursode Proyectos Solidarios” (Charity project competition) as part of the corporate volunteer program“Territorios Solidarios” to support the best ideas in partnership with its employees. Finally, the Sixth BBVACharity Run was held in Mexico, Colombia, Chile and Venezuela.In the United States, BBVA Compass offers its workforce the opportunity to work together in “BBVACompass Volunteers.” The program has given employees the chance to participate in activities such asfinancial training or book donations, the latter through the “Leer es importante” (Reading is important)literacy initiative. BBVA Compass Charity also guarantees control and transparency with respect tovoluntary charity contributions. Employees can choose up to four organizations from the complete IRSdatabase of more than 2 million existing NGOs. Finally, the Sixth BBVA Charity Run was also held in theUnited States.28 Executive summary