BBVA says to cut employee CO2 emissions 20 pct

BBVA will introduce measures to persuade staff to cut trips by using video-conferencing, introduce energy-saving in their homes and use vehicles which burn less fossil fuel.

The plan could save the bank 1.5 million euros a year, the chairman of Spain's second largest bank said at a presentation in Madrid.

Gonzalez said the investment earmarked for the carbon- reduction programme is included in BBVA's budget.

Asked about the bank's announcement of the plan amidst the global financial crisis, Gonzalez said: ‘It's business as usual at BBVA. We are confident that we can meet our commitments.’

He ruled out any short-term impact on BBVA's share price from the plan, but said that ‘any initiative which faces up to issues important for society goes down well.’