Covid has, unsurprisingly, dominated the corporate responsibility agenda at banks across Europe. A key determinant in this category was the effectiveness with which firms addressed the acute challenges that many of their clients have faced, from the initial healthcare emergency to longer-term financial distress. BBVA stepped up to the task promptly and at scale and takes the regional award this year.
The bank launched its Covid-19 Social Response Plan in 2020 with €35.7 million to purchase medical equipment and support public health systems. There were three lines of action: supporting health authorities, contributing to social organizations and promoting scientific research. A total of 839,773 people – 24% of the plan’s beneficiaries – benefited from the medical equipment and supplies provided to hospitals and a further 11% of the funds were geared toward helping vulnerable groups. In the early stages of the emergency BBVA secured 2,813 ventilators, 5,000 flow valve masks, 400 oxygenators and 400,000 face masks from China.
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