Garanti Expanded The Project Scope Of Its Environmental and Social Impact Assessment Model.
Dear stakeholders,
We kindly would like to inform you on the latest news about our sustainability activities.
As Garanti Bank, we recently published our 3rd Sustainability Report in accordance with GRI G4 standards.
Apart from this, we are happy to share a new development.
As Garanti Bank, we assess and manage environmental and social risks of the projects that we finance according to Environmental and Social Loan Policies established in 2011. The projects that have an investment among higher than 20 mn USD have been subjected to a comprehensive risk assessment system, resulting with an action plan as part of the loan agreement that the borrower has to comply with. From 2016, we decided to lower this threshold to 10 million USD. In this way, we are now much closer to the Equator Principles, known as a benchmark in environmental and social risk management at project finance. Additionally, we also included project finance advisory into the scope of our risk assessment system. We went one step further in terms of positive impact and risk management for both corporate risks and borrowers’ risks by increasing the number of the projects.
With these improvements, we are happy to say that we always target the best for a sustainable earth and we will continue to work in this direction. Please visit our website for our continuous developments in sustainability and up to date detailed information.