In 2019, Garanti BBVA (hereafter, “Garanti BBVA” or “The Bank”) defined six strategic priorities, one of which is "helping our clients transition toward a sustainable future."
The fight against climate change is one of the greatest disruptions in history, with extraordinary economic consequences to which all players in our environment (governments, regulators, businesses, consumers and the whole of society) have to adapt.
Climate change and the transition to a low-carbon economy have significant implications for the value chains of most productive sectors, and may require significant investment in many industries. However, technological advances around energy efficiency, renewable energy, efficient mobility and the circular economy are a source of new opportunities for all.
On the other hand, clients, markets and society as a whole not only expect large companies to create value, but also to contribute positively to society. In particular, they are expected to ensure that their operations' boost to economic development is inclusive.
Garanti BBVA is aware of the outstanding role of banking in this transition to a more sustainable world through its financial activity, has adhered to the Principles for Responsible Banking promoted by the United Nations, and is willing to play a relevant role, as demanded by society, and assist its clients in their transition to that sustainable future.
Also, the Bank will ensure that its activity is carried out in accordance with a set of values, principles, criteria and attitudes aimed at achieving sustained value for shareholders, employees, customers and for the society as a whole, and will promote the implementation and development of ethical principles based on integrity and transparency.
With a view to shaping this aspiration clearly and precisely, this Policy aims to set forth Garanti BBVA's vision and general principles for the approach to sustainability in the Bank (the "Policy").
This Policy was approved by Garanti BBVA's Board of Directors on November 3, 2022, as provided for in: The Capital Markets Board of Turkey (“CMB”) has made amendments regarding the publicly held companies to fulfill their obligation to make a disclosure to the stakeholders within the framework of the sustainability principles compliance, with the Communiqué numbered II-17.1.a on Amendment of the Communiqué on Corporate Governance numbered II-17.1.1