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BBVA says to cut employee CO2 emissions 20 pct

MADRID - Spain's BBVA will spend 19 million euros ($25.17 million) to cut its CO2 emissions per employee by 20 percent by 2012, the chairman of the bank, Francisco Gonzalez, said on Tuesday.

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.’