GARAN i 
NewsContactGaranti BBVA IR TVFAQTürkçe
Menu
 
 

Commitments

Homepage  >  Environment, Social And Governance  >  Commitments
 

Commitments

  • The Sustainable development target that BBVA, the main shareholder of our Bank, will contribute by 2025 is €300 billion
  • BBVA, the main shareholder of our Bank, will allocate a total of €550 million in the period 2021-2025 to finance social initiatives aimed at promoting inclusive growth.
  • As Garanti BBVA, by updated our Environmental and Social Loan Policies, the Bank committed that we will not finance new investments in coal-fired power plants and coal mines and that we will zero its coal exposure in its portfolio by 2040 at the latest.
  • Garanti BBVA, as we,  took another crucial step in the Turkish banking sector in line with its undertakings to combat climate change and joined the United Nations Net-Zero Banking Alliance (NZBA), which supports the mobilization of the entire financial system to achieve the targets set by the Paris Agreement, launched in April 2021.
  • In 2020, Garanti BBVA, as we, announced our carbon emissions reduction goal based on Science-Based Targets methodology in line with the Paris Agreement’s goal to limit temperature rise to 1.5 degrees. Accordingly, we pledge to reduce our carbon emissions by 29% by 2025 and 71% by 2035. Having reduced our emissions arising from its operations by 75% at the end-2020, the We purchased carbon credit for our remaining emissions and became carbon-neutral 15 years earlier than our reduction target.
  • UNEP FI Principles for Responsible Banking, which were launched in 2016 by 30 founding members among which Garanti BBVA was the only bank from Türkiye, reached more than 270 signatories worldwide. The Principles for Responsible Banking, which are expected to significantly contribute to the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement objectives, focus on six main scopes: Alignment, Impact, Clients and Customers, Stakeholders, Governance and Target Setting, Transparency and Accountability.
  • The UN Global Compactaims to mobilize a global movement of sustainable companies and stakeholders to create better world. To make this happen, the UN Global Compact supports companies to:
    • Do business responsibly by aligning their strategies and operations with Ten Principles on human rights, labour, environment and anti-corruption; and
    • Take strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation.

We signed the Sustainable Finance Declaration in 2017 with 6 other Turkish Banks under the UN Global Compact.

  • Garanti BBVA, as we, take part in the PACTA (Paris Agreement Capital Transition Assessment) pilot phase along with BBVA Group to measure climate risks and to encourage its customers for going green. PACTA represents an approach that seizes opportunities for banks to steer their portfolios to finance a lower-carbon society. With the PACTA methodology, we aim to set guiding targets for its customers in their transition journey by defining specific criteria for each field of activity in carbon-intensive industries with this initiative that is part of a low-carbon transition roadmap. It is among the short-term targets of Garanti BBVA to announce our 2030 interim targets and establish strategies regarding the financing of carbon-intensive industries within the scope of PACTA.
  • Climate Change Action Plan: In 2015, we committed to invest 60% of all our greenfield energy financing under Project Finance in renewable energy. All of the energy projects we have financed since 2014 are renewable energy investments.
  • Women's Empowerment Principles (WEPs) are established in 2010 in partnership with the United Nations Global Compact and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women). The WEPs provides the key considerations for achieving gender equality in workplaces, markets and society at large to the private sector.
  • Garanti BBVA is a founding member of 30% Club Türkiye launched in March 2017 for greater representation of women in executive management
  • In 2021, Garanti BBVA, as we, have announced its concrete goal within the scope of the Business Initiative for Plastic led by BCSD Türkiye, Global Compact Network Türkiye and Turkish Industry and Business Association (TUSİAD) that it has become a signatory of in 2019. With its declared commitment for 318.6 tonnes of plastic reduction and avoidance by 2023, we tangibly pledged its support to the business world’s fight against plastic pollution.
  • We are producing Environmental Bonus Credit Cards from recycled materials since 2022.
  • Based on the green office standards of WWF, which we have been supporting for 30 years, we tried to reduce our impact on the climate crisis.
 
Share