BBVA responds regarding its investment in Palantir
On 1 May 2026, the Business and Human Rights Centre invited Norges Bank to respond to concerns that a company it is investing in, Palantir, is linked to various allegations of facilitating "serious human rights violations". Reportedly, Palantir is accused of facilitating these violations through its contracts with the U.S. Immigration and Customs Enforcement agency (ICE) and the Israeli army in the Palestinian territories, among other concerns, with Amnesty International accusing the company of "failing to comply with international standards". Palantir has responded to similar allegations, which can be found on its BHRC company page.
As stated in the United Nations Guiding Principles on Business & Human Rights (UNGPs), investors have a responsibility to use their leverage to ensure that those with whom they have business relationships, including portfolio companies, respect human rights. Within the article by El Pais, BBVA is listed as having $103 million invested in Palantir as of December 2025. BBVA responded, stating:
"BBVA’s position in Palantir corresponds to transactions carried out on behalf of clients and investment or pension funds. As part of its investment process, BBVA Asset Management incorporates ESG considerations through its exclusions policy and ESG rating, among other elements, relying on independent third parties for this purpose. This entails ongoing monitoring of the investments made, which may lead to an engagement process with the investee or, if necessary, divestment..."