Green and Sustainability-Linked Loan Newsletter - BBVA CIB (2024)

In Q1 2024, the sustainable and sustainability-linked loan volume stood at EUR 212Bn globally, the highest first quarter volume since the inception of the sustainable loan market in 2017. This represents increases of 10% vs Q4 2023 and 23% vs Q1 2023 which was the highest first quarter volume on record before 2024. This compares to increases in the global loan volume in Q1 2024 of 9% vs Q4 2023 and 6%vs Q1 2023.

After a difficult second half of 2023 for the sustainability-linked loans, we witnessed a resurgence of their volume in Q1 2024 with a total of EUR 152Bn, representing increases of 28% vs Q4 2023 and 13% vs Q1 2023. As for green loans, their volume remained in line with the quarterly average of 2023.

In Q1 2024, EMEA led the way with a total volume of EUR 106Bn, followed by the Americas with EUR 72Bn and APAC with EUR 35Bn. Whilst the sustainable and sustainability-linked loan volume in APAC fell by 21% vs Q1 2023, they strongly increased in EMEA (+48%) and the Americas (+23%) over the same period. In Q1 2024, EMEA and the Americas represented 84% of the global sustainable loan volume.

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Sustainable loan volumes per geography

Sustainable loan volumes per type of instrument

Selected Sustainable Loans – 1Q2024

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This document is provided with an informative purpose, having the information contained herein merely the character of an example. Such information does not constitute an offer to finance or topurchase or sell securities or any specific tax, legal, environmental, social, accounting or regulatory advice or recommendation of whatever form. Clients should independently evaluate the financial, environmental, social, market, legal, regulatory, credit, tax and accounting risks and consequences and should not rely onBanco Bilbao Vizcaya Argentaria, S.A., or any of its Group entities (hereinafter “BBVA”) for this.

The information contained herein is information available from public sources. Information on ESG trends is based on BBVA’s understanding of certain current market practices, which may differ among markets and over time and/or may be amended or replaced by legally binding regulations. Notwithstanding the fact that reasonable measures to assure that the information contained herein is not mistaken or misleading, BBVA does not represent or warrant, either express or implicit, its accuracy, integrity or correctness and therefore no party should rely on it. BBVA accepts no liability for any mistake or omission in the information nor any obligation to communicate any changes to this document or to update its contents.Clients should voluntarily and independently assess any information contained herein and are solely responsible for relying on it and for the decision to execute a particular transaction and for complying with recognized markets standards, any applicable laws, regulations and obligations to that effect.

Consequently, neither BBVA nor any of its officers, directors or employees accept any responsibility or obligation nor will have any liability whatsoever for any loss, damage or claim of any kind, arising from or in relation to the information provided by BBVAor any action taken in reliance thereon, in or from any jurisdiction, including but not limited to the present or future consideration of any transaction as sustainable.

This document is property of BBVA. Any denominations, designs, and logos are registered trademarks of BBVA. The information contained herein is provided to you by BBVA on a strictly confidential basis. No part of this document may be copied, conveyed, distributed or furnished to any person or entity without the consent of BBVA. Specifically, no part of this document may be copied, conveyed or distributed into the United States of America or furnished to any person or entity in the United States or any US person. Failure to comply with these restrictions may breach the laws of the US. It is understood that its recipients accept all of the warnings and conditions contained herein in its integrity.

This document has not been drafted according to the rules in place for the independence of investment reports, thus it does not contain objective explanations, nor has it been independently verified.

For further information or help on the website, please contact our BBVA CIB Marketing department or the Debt Capital Markets team:

This document is provided with an informative purpose, having the information contained herein merely the character of an example. Such information does not constitute an offer to finance or topurchase or sell securities or any specific tax, legal, environmental, social, accounting or regulatory advice or recommendation of whatever form. Clients should independently evaluate the financial, environmental, social, market, legal, regulatory, credit, tax and accounting risks and consequences and should not rely onBanco Bilbao Vizcaya Argentaria, S.A., or any of its Group entities (hereinafter “BBVA”) for this.

The information contained herein is information available from public sources. Information on ESG trends is based on BBVA’s understanding of certain current market practices, which may differ among markets and over time and/or may be amended or replaced by legally binding regulations.Notwithstanding the fact that reasonable measures to assure that the information contained herein is not mistaken or misleading, BBVA does not represent or warrant, either express or implicit, its accuracy, integrity or correctness and therefore no party should rely on it. BBVA accepts no liability for any mistake or omission in the informationnor any obligation to communicate any changes to this document or to update its contents.

Clients should voluntarily and independently assess any information contained herein and are solely responsible for relying on it and for the decision to execute a particular transaction and for complying with recognised markets standards, any applicable laws, regulations and obligations to that effect.

Consequently, neither BBVA nor any of its officers, directors or employees accept any responsibility or obligation nor will have any liability whatsoever for any loss, damage or claim of any kind, arising from or in relation to the information provided by BBVAor any action taken in reliance thereon, in or from any jurisdiction, including but not limited to the present or future consideration of any transaction as sustainable.

This document is property of BBVA. Any denominations, designs, and logos are registered trademarks of BBVA. The information contained herein is provided to you by BBVA on a strictly confidential basis. No part of this document may be copied, conveyed, distributed or furnished to any person or entity without the consent of BBVA. Specifically, no part of this document may be copied, conveyed or distributed into the United States of America or furnished to any person or entity in the United States or any US person. Failure to comply with these restrictions may breach the laws of the US. It is understood that its recipients accept all of the warnings and conditions contained herein in its integrity.

This document has not been drafted according to the rules in place for the independence of investment reports, thus it does not contain objective explanations, nor has it been independently verified.