BBVA Research publishes commentary on U.S. policy and climate change

- U.S. is one of the largest contributors to greenhouse gas emissions (GHG), making its involvement in the fight against climate change a matter of critical importance.

- Efforts outside the federal government could enable the U.S. to fulfill two-thirds of its commitment to reduce GHG emissions.

August 28, 2019

HOUSTON, Aug. 28, 2019 /PRNewswire/ -- According to the publication released this week from BBVA Research, United States: Policy and Climate Change, the lack of a federal strategy to address climate change has not hindered the U.S. in achieving its commitment to reduce GHG emissions by 26% compared to levels in 2005. The paper further notes that relying on individual efforts by subnational players and the private sector is unlikely to produce the most efficient outcome.

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Few topics have been more contentious in U.S. politics than climate change, with the two main national political parties embracing different views on the subject. As noted in the report, recent surveys suggest that public opinion on the topic of climate change may have reached a tipping point. For the first time since 2001, more Americans over age 18 are very concerned about global warming and believe that it will have severe repercussions during their lifetime, according to a recent Gallup poll.

BBVA Research Principal Economist Marcial Nava notes that, as extreme weather events continue to impact an increasing number of people, both parties are expected to add climate change to their political agendas in the coming years. His report indicates that both parties' proposals include risks as well as opportunities, including job creation.

United States: Policy and Climate Change, authored by Nava, also highlights the impact of shifting demographics and popular opinion in framing the issue in the U.S. For more details, read the full report here

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About BBVA

BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market and is the largest financial institution in Mexico. It has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey's BBVA Garanti. BBVA's purpose is to bring the age of opportunities to everyone, based on our customers' real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. BBVA's responsible banking model aspires to achieve a more inclusive and sustainable society.

In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 329 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.


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