Highlighting the strong momentum that the real sector has gained in sustainability and the green transition, Garanti BBVA Executive Vice President Sinem Edige noted that banks are not only providers of funding in the green transition, but also actors that help steer the transformation.
Sustainability is not merely about environmental awareness or corporate social responsibility; it is a strategic issue that affects competitiveness, continuity of production and risk management. As COP31 approaches, sustainability and green transition financing are also moving higher on companies’ agendas. According to Garanti BBVA Executive Vice President Sinem Edige, the run-up to COP31 is making the real sector’s growing interest in the green transition increasingly visible.
Garanti BBVA, together with BBVA, has become the Global Banking Partner of COP31, which will be held in Antalya. The summit is expected to accelerate the shift from commitments to implementation on the climate agenda. Within this framework, BBVA Group and Garanti BBVA will carry out a comprehensive program to support the financing of sustainable activities. Emphasizing that banks are not only providers of funding but also actors that help steer the green transition, Edige said: “Sustainability is not just an environmental issue; it is at the very heart of business. One of the financial sector’s key responsibilities for the national economy is to explain that every step not taken today will come at a higher cost tomorrow.”
TL 1.3 trillion reached toward TL 3.5 trillion target
Edige recalled that Garanti BBVA had completed its TL 400 billion sustainable finance target for the 2018-2025 period ahead of schedule and subsequently raised its target to TL 3.5 trillion for 2018-2029. She said that, as of the first quarter of 2026, the Bank had reached approximately TL 1.3 trillion of this target. Edige said: “What excites us most is the determination, success and interest that companies in Türkiye are demonstrating in sustainability.
If this trend continues, we believe that we will both achieve our target and help further strengthen Türkiye’s sustainability momentum.” Edige added that, by 2029, approximately TL 3.1 trillion in new financing would be directed toward areas including climate action, natural capital, the circular economy, sustainable agriculture, water efficiency, social infrastructure, social equality and financial inclusion.
Financing is expanding into new areas
Emphasizing that the green transition requires significant capital, Edige noted that the financial sector plays a strategic role in strengthening the real sector’s capacity to transform. She said: “Especially in developing countries, where a significant share of financing is provided through banks, our responsibility to direct capital toward the right areas and scale up the transition becomes even greater.”
According to Edige, Garanti BBVA supports Türkiye’s transition to a low-carbon, resilient and inclusive economy through the products and solutions it has developed in sustainable finance. In addition to financing investments that accelerate the climate transition, the Bank also provides financing and advisory services in areas that support social development, such as healthcare, education and social infrastructure.
The Bank prioritizes its customers’ transformation in strategic climate action areas including renewable energy, clean fuels, energy storage technologies, clean technologies, energy efficiency, water management, clean transportation and sustainable agriculture. It also offers transition finance solutions that enable the transformation of emissions-intensive sectors, alongside a holistic approach to customers’ sustainability journeys. The Bank also continues to support women’s economic empowerment through initiatives for women entrepreneurs.
Supporting customers through the transition
Edige stated that Garanti BBVA does not view its responsibility in sustainability as being limited to extending loans, and explained that the Bank supports customers in developing decarbonization plans, analyzing climate risks and structuring their transformation strategies: “We see this transition as a journey that we undertake side by side with our customers, guided by our ‘We Do It Together’ approach. Sustainable finance is not a product for us; it is a stance.”
Edige emphasized that green loans are used to support investments in areas such as renewable energy, energy efficiency, zero waste and the circular economy. She also noted the Bank’s focus on dedicated financing models for rooftop solar PV solutions, women entrepreneurs, electric vehicle charging infrastructure, sustainable agriculture, green housing and green leasing.
Leading practices in sustainable finance
Edige said that Garanti BBVA’s coordinator roles in sustainability-linked lending and derivative transactions demonstrate the Bank’s expertise in this field. She noted that the Bank assumes responsibilities across different stages of these transactions, from defining sustainability frameworks and performance indicators to structuring transactions in line with international standards.
Edige added that sustainability criteria are integrated not only into lending products but also into a range of risk management instruments, particularly interest-rate and foreign-exchange hedging transactions. In this way, environmental and social performance becomes part of companies’ financing structures and risk management processes.
Sustainable finance through thematic issuances
Edige said that Garanti BBVA continues to raise new funding through thematic bond issuances and syndicated loans. In October 2025, the Bank raised USD 20.2 million through Türkiye’s first biodiversity-themed bond issuance. She also noted that in 2026, the Bank issued a EUR 30 million green bond focused on climate change adaptation in sustainable agriculture, as well as two sustainable bonds of USD 30 million each to finance projects focused on gender equality and investments in climate adaptation and resilience.
The just transition-themed syndicated loan secured from international markets is also strengthening the diversity of the Bank’s funding sources in this area.
The transition will be managed around risk, capital and customers
According to Edige, climate, water and biodiversity risks will become increasingly visible in the period ahead, while the financial sector’s transformative role will strengthen. She said Garanti BBVA is preparing for this process across three areas: “On the risk side, we are integrating climate, water and nature-related risks into financial models. On the capital side, we are directing funding toward areas with high transformation impact. On the customer side, we are providing advisory services for the transition in addition to financing. In line with our 2050 net-zero commitment and our 2030 sectoral decarbonization targets, we will make sustainable finance one of the key levers of transformation in Türkiye.”
COP31 to pave the way for new partnerships
Garanti BBVA Executive Vice President Sinem Edige said that COP31 being held in Türkiye is significant both diplomatically and economically. She said: “The steps our country has taken in sustainability helped bring COP31 to Türkiye. This is a major opportunity to showcase Türkiye’s achievements in this field to the world.
Together with BBVA, Garanti BBVA has become the summit’s ‘Global Banking Partner’. We see this partnership as the beginning of a strategic journey that will accelerate Türkiye’s sustainable transformation.” According to Edige, making the capital and partnership mechanisms that can accelerate the green transition permanent is set to be one of COP31’s most important potential benefits for Türkiye.
New Treasury solution for CBAM risk
Sinem Edige also explained that Garanti BBVA has developed a new treasury solution for companies trading with the European Union, as carbon costs create a new area of risk for businesses. The solution, structured as a derivative product, is designed to help manage the cost risk arising from fluctuations in certificate prices under the Carbon Border Adjustment Mechanism (CBAM). Edige noted that the first transaction was carried out with a corporate customer operating in the cement sector.