• Through a revolving factoring line (CrediProveedores), close to 600 million pesos, differentiated conditions will be provided to those Grupo Herdez® suppliers that demonstrate that sustainability is part of their business model or that they are in said transition. 
• The program is aligned with Grupo Herdez®’s sustainability strategy so that suppliers, mainly SMEs, have access to better financing conditions while adopting sustainable practices.
• This operation is consistent with the commitment of BBVA México and Grupo Herdez® to encourage clients and suppliers to incorporate Environmental, Social and Governance (ESG) criteria in their businesses.
• For BBVA México, this operation is aligned with one of its strategic priorities, which consists of helping clients in the transition towards a sustainable future.

Mexico City, August 5, 2024.- BBVA México and Grupo Herdez®, through the CrediProveedores agreement linked to sustainability, promote the adoption of sustainable practices throughout the value chain through access to preferential financing conditions. Through this program, Grupo Herdez® suppliers that demonstrate that their business model has sustainability criteria or that they are in said transition, will benefit from a decrease in the discount rate, compared to the average conditions in the market.

According to Álvaro Vaqueiro Ussel, general director of Corporate and Investment Banking at BBVA Mexico, “BBVA’s commitment is to support clients in their transformation to more sustainable models with advice and financing. Companies that are in a transition to sustainability, and that have established environmental and social objectives that involve their entire value chain, face various challenges in which BBVA becomes a strategic ally whom they can trust to achieve them.” 

For Grupo Herdez suppliers to access this benefit, an evaluation of progress and adoption of sustainability practices will be carried out, aligned with the food company’s ESG strategy and commitments.

Ricardo Mange Aguayo, director of SME Banking at BBVA Mexico, highlighted that this agreement is part of the commitment to promote micro, small and medium-sized businesses in the country, not only through credit, but also through financial solutions and advice. fostered the development and enhancing the company and its value chain that is present in each of the ecosystems of the activities where they operate. In this way, a virtuous circle is created within the local economy, encouraging consumption and triggering economic activity. The closing of this collaboration agreement demonstrates the commitment of both companies to promote small and medium-sized companies that work every day to fulfill their commitments by contributing to the environment and their responsibility to society.

Grupo Herdez®’s sustainability strategy is aligned with the 7 Sustainable Development Goals of the 2030 Agenda of the United Nations (UN) to contribute to global well-being and a sustainable future. Likewise, the food company is part of the CFO Coalition of the United Nations Global Compact, which brings together financial leaders from around the world to align financial resources to sustainability goals. For her part, Andrea Amozurrutia Casillas, Director of Finance and Sustainability of Grupo Herdez®, expressed that “to build a more resilient and responsible supply chain, and thus create a more prosperous future for all, financial interests must be aligned with those that promote the transition towards sustainable business models. This alliance with BBVA México allows us to extend our positive impact, especially to SMEs, by providing our suppliers with better financing conditions so that they adopt these practices and can grow their businesses.”

With a common goal, both companies are promoting the transition to more sustainable models. Some of the operations carried out jointly include: the issuance of the first bond linked to sustainability in the food industry in Mexico in 2022 which reached an amount of 3,000 million pesos. Additionally, in terms of digital inclusion, a process was initiated to bring BBVA financial education training to the more than 11,000 employees of Grupo Herdez® in its plants, distribution centers and offices.

These initiatives demonstrate the commitment of both companies to promote and accelerate the adoption of sustainability practices in all business models. Expanding the alternatives so that more companies know the value of incorporating ESG criteria into their processes contributes to a more prosperous future for Mexico.