Sustainability Milestones

2022
2021
2020
2019
2018
2017

2022

BBVA, the main shareholder of Garanti BBVA, once again increased its financing target for the climate crisis and sustainable development from € 200 billion to €300 billion for period the 2018-2025.
Garanti BBVA recently launched a new tool to allow customers to view their carbon footprint on Garanti BBVA Mobil. The new feature on the Garanti BBVA mobile app calculates their carbon emissions based on utility and fuel expenditures, and aims to contribute to a more sustainable world, and the climate crisis. Garanti BBVA also shows the carbon emissions resulting from these consumptions in terms of tree and water.
Garanti BBVA has entered a strategic partnership with Erguvan, Turkey's first and only digital carbon credit trading platform. With this partnership , the Bank offers a direct, transparent, secure and low transaction cost carbon loan for its corporate customers who have difficulty in accessing voluntary carbon markets.
Garanti BBVA, integrates climate change and inclusive growth within its core strategies. In line with that commitment, Garanti BBVA has launched a program of events called 'Sustainable Future in Exports' to support Türkiye’s adaptation to the European Green Deal and pave the way to sustainable investment. The bank explained the European Green Deal and the Carbon Border Adjustment Mechanism (CBAM) to the sectors and institutions–especially SMEs–that will be affected by the new rules governing exports to the EU.
Garanti BBVA renewed its syndicated loans in May and November, focusing on social criteria. While the syndicated loan, in May, is in separate tranches of $283,5 million and €290.5 million maturing at 367 days, the syndicated loan, in November, is in the second one, in separate tranches of $155 million and €238.5 million maturing at 367 days. The loans will be used for financing foreign trade and general corporate purposes. With these syndicated loans, Garanti BBVA continued its pioneering practices in sustainable finance focused on social criteria.
Garanti BBVA recently completed its first derivative transaction linked to ESG (environmental, social and governance) criteria with Bank of America.
Garanti BBVA has signed a contract with Standard Chartered for $75 million with a maturity of 370 days. In doing so, it repurchased a repo transaction related to ESG (environmental, social and governance), realizing the first repo transaction indexed to sustainability performance. With this new transaction, Garanti BBVA will increase the volume of sustainable finance to TL 2 billion in August 2022 and ensure that all the energy consumed comes from renewable energy sources.
Garanti BBVA recently completed its first circular economy loan. The bank’s €18 million loan to Altek Metal forms part of its commitment to support the transition to a low carbon economy.

2021

By renewing the financing it received from IFC with the same amount and maturity in 2021, it continued to support its customers against the effects of Covid-19 in adverse market conditions.
As part of its work in sustainable finance, Garanti BBVA is implementing the Green Finance Specialist training course in cooperation with the Green for Growth Fund (GGF) Technical Support Facility and Renewable Energy Academy (RENAC) to increase the technical expertise of 30 employees.

2020

Garanti BBVA provided support for the sustainability of SME customers whose cash flow was adversely affected by the pandemic. To this end, in 2020, it received financing of USD 50 million from IFC and USD 54.7 million from the EBRD.

2019

In order to support women entrepreneurs, a Women Entrepreneur Export Support Loan protocol was signed with Turk Eximbank in 2019.
USD 133 million financing for energy efficiency and renewable energy projects, SMEs, and women entrepreneurs in 22 provinces within the scope of the protocols signed between Garanti BBVA, International Finance Corporation (IFC), Austrian Development Bank (OeEB), with Green Growth Fund (GGF) support.
With the Green Bond product, the first Green Bond issuance in international markets in 2019, Garanti BBVA aimed to support renewable energy and resource efficiency investments and social benefit projects that provide solutions to climate change.

2018

Garanti BBVA, with IFC, made Turkey's first social bond (Gender Bond) issuance for women entrepreneurs with a 6-year maturity of USD 75 million. Within the scope of this transaction, the bank provides women entrepreneurs with working capital of up to 400,000 TL with maturities of up to 36 months.

2017

In 2017, Garanti BBVA signed a 540 million TL contract with the World Bank group member, IFC (International Finance Corporation), within the scope of the Mortgage Covered Securities Issuance (ITMK) program, with a maturity of 5 years for USD 150 million. This contract is Garanti BBVA's first green Mortgage Covered Securities (ITMK) issuance, as well as the first İTMK issuance in which IFC has invested in Turkey.

Environment, Social and Governance