Environmental and Social Loan Standard
Garanti BBVA has identified sustainability as one of its strategic priorities, focusing on supporting its clients in the transition toward a more sustainable future, mitigating climate change, fostering inclusive growth, and ensuring the efficient use of natural resources.
Climate change is one of the great challenges facing humanity and requires large volumes of investment. Clients, markets, and society as a whole not only expect large companies to create value, but also to contribute positively to society.
Garanti BBVA recognizes its impact on the environment and society. Therefore, it seeks to contribute to sustainable development by mitigating environmental and social impacts, both directly, through the responsible use of natural resources and relationships with stakeholders; and indirectly, through the projects it finances.
For this reason, this standard, publicly known as the Environmental and Social Loan Standard (hereafter, “the Standard”) has been established to identify activities and sectors that, while contributing to economic growth and social progress, can also have significant environmental and/or social impacts.
The Standard derives from Garanti BBVA’s General Sustainability Policy, which sets forth the primary principles, objectives, and guidelines for sustainable development management and control.
The Standard aims to establish criteria for identifying, evaluating, and monitoring activities with environmental and/or social impacts common to all sectors, as well as activities with high environmental and/or social impacts specific to the mining, agribusiness, energy, infrastructure, and defense sectors. These criteria include restrictions specific to sectors identified due to their high potential for environmental and social impacts, as well as restrictions common to all sectors, such as prohibited activities or activities requiring special attention.
The criteria related to the Thermal Coal Phase Out Plan are also included in the Standard
You can access Garanti BBVA's Environmental and Social Loan Standard here.