Garanti BBVA sets 3,5 trillion TL Sustainable Business Target
Garanti BBVA sets 3,5 trillion TL Sustainable Business Target
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Garanti BBVA sets 3,5 trillion TL Sustainable Business Target
Garanti BBVA achieved its Sustainable Business Target of 400 billion TL previously set for the 2018-2025 period within the first half of 2025. Following this achievement, the bank unveiled its new target for the 2018-2029 period as 3,5 trillion TL. Therefore, from the second half of 2025 until the end of 2029, Garanti BBVA will channel approximately 3,1 trillion TL into sustainable development.
With this commitment, Garanti BBVA intends to create great impact to combatting climate change, protecting natural capital, encourage circular economy practices, promote social progress and further financial inclusion.
As the front runner of sustainability in the banking sector, Garanti BBVA increases its support for Türkiye’s sustainable development.. The bank has announced the new Sustainable Business Target for the 2018-2029 period as 3,5 trillion TL following the achievement of the initial 400 billion TL target announced in 2018 within the first 5 months of 2025. This number stands out as the greatest commitment to sustainable finance among banks that operate in Türkiye.
For the new period from the second half of 2025 until 2029, the bank intends to channel new source of 3,1 trillion TL into projects to combatting climate change, protecting natural capital, contributing to circular economy practices, boost sustainable farming practices and social infrastructure through water efficiency investments, supporting social equality and further financial inclusion.
Mahmut Akten: “We will channel around 3,1 trillion TL towards financing sustainable development starting from the second half of 2025 until the end of 2029.”
Mahmut Akten, Garanti BBVA CEO, has announced that the Sustainable Business Target for the 2018-2025 period has been achieved within the first 5 months of 2025. He underlined the important role of turning sustainability into a strategic priority which played a critical role in achieving this target. Akten emphasized that Garanti BBVA offers many sustainable finance products from social/green loans to low carbon vehicle loans, green bonds, consulting services for sustainable investments and even “blue finance” tools for water efficiency projects.
Mahmut Akten has commented on this new commitment with the following words:
“Now, taking our success even further, we commit to channel 3,5 trillion TL towards sustainable finance until the end of 2029. This new goal signifies a major leap in terms of both volume and the pace of our sustainable finance mobilization. From the second half of 2025 until the end of 2029 we commit to channel 3,1 trillion TL towards financing sustainable development. This commitment demonstrates the critical role Garanti BBVA is taking in Türkiye’s transition to low carbon and inclusive future. We will continue to support Türkiye’s sustainability journey in order to secure not only today but also future generations. While doing so, we are also proud of our growing contribution to the global sustainable targets set by the BBVA Group.”
BBVA Group’s Global Commitment is 1 Trillion Euro
Garanti BBVA’s main shareholder BBVA Group initially set a Sustainable Business Target of 100 billion Euros for the 2018-2025 period. The target then was increased to 300 billion Euros, and was achieved in 2024, 1 year earlier. BBVA Group’s commitment has now been increased to 1 trillion Euro with additional 700 billion Euros worth of financing for the 2025-2029 period.
Türkiye’s Contribution has Increased to 9%
Garanti BBVA’s contribution to BBVA Group’s total sustainable business figures within the first 4 months reached to 140 billion TL. With this volume, Türkiye’s contribution to BBVA Group has increased from 3% in 2018, to 9% in 2025.
Garanti BBVA views the issue of sustainable finance not only as providing financing but also acting as an advisor for its clients in their sustainability journey, helping them lower their emissions, provide environmental and social risk analysis and offer sector-based strategies.
Transparency for Sustainable Investments through the Sustainable Business Channeling Guide
Garanti BBVA carries out sustainable financing operations on an international scale following the transparency and inclusivity criteria. Garanti BBVA follows the Sustainable Business Channeling Guide which has been developed by its main shareholder BBVA Group, by taking into account European Environmental Taxonomy and reviewed by independent institution DNV against industry best practices.
Garanti BBVA has created its own Sustainable Activities Guide which is in line with BBVA’s Sustainable Business Channeling Guide in order to clarify which activities could be labelled as sustainable, underline which projects would be considered for sustainable financing and shed light on the process to analyze the social and environmental impacts of activities. The Sustainable Activities Guide allows a transparent, concrete and measurable process for allocation of sustainable resources.
The Sustainable Activities Guide can be accessed here.