Garanti BBVA Scope 3 Financed Absolute Emissions
In line with its Net Zero Banking Alliance (NZBA) and Science Based Targets Initiative (SBTi) commitments, Garanti BBVA aims to align its credit portfolio with net zero by 2050 scenarios. In this framework, the Bank started calculating the financed GHG emissions employing the PCAF (Partnership for Carbon Accounting Financials) methodology in 2023.
The outputs of the calculation are given below,
- Scope 3 Financed Absolute Emissions: 31,177,168 tones CO2eq.
- Portfolio Coverage on-balance sheet assets/products*: 43.9%
- Asset Class Breakdown: Commercial Real Estate, Mortgages, Business Loans and Project Finance
* This coverage ratio calculation includes only business loan, project finance, commercial real estate and mortgage asset classes in nominator.