Euromoney has named Garanti BBVA ‘Best Bank in Central and Western Europe in Sustainable Finance’. The bank is a known leader in sustainable development thanks to its innovative practices.
Euromoney, one of the world’s leading financial journals, has recognized Garanti BBVA as the deserving winner of its innovation award in the area of sustainable finance. The publication notes that Garanti BBVA is equally concerned about environmental, social, and corporate governance issues as it is about strictly financial aspects. Furthermore, the bank’s portfolio, which serves to join up clients with cutting-edge ecological and sustainable products and services, includes 100 percent environmentally-friendly, renewable projects.
Ebru Dildar Edin, Garanti BBVA Vice President, explains that “as a bank, for more than 15 years we have been at the forefront of the financial sector with sustainable development initiatives and innovative financing models.” She also describes how, since 2014, the bank has earmarked 100 percent of all energy investment financing to renewable energy. “In addition to the financial risks, we analyze and give the same importance to social and environmental risks,” she adds.
With respect to protecting the planet, Garanti BBVA has taken on ambitious and essential commitments, which it constantly revises and, to the extent possible, makes more challenging in accordance with the Principles for Responsible Banking. Thus, the bank has established itself as a world leader in sustainable solutions such as green and sustainable bonds; “gender loans”; the market’s first “gender bond” which is the brainchild of the bank; and the ecological syndicated loan.
Dildar Edin reiterates that Garanti BBVA’s objective is to use its experience and knowledge to help its clients. “We are certainly very happy to have our efforts recognized with this award, on both a national and international stage,” the Garanti BBVA executive observes. She added that “our greatest source of pride, though, is the result of our hard work, when our clients put our solutions to use.”
A commitment to sustainability
Garanti BBVA had previously set itself the target to reduce its carbon emissions 39 percent by 2025 and 71 percent by 2035. Already in 2020, the bank is using electricity derived from 100 percent renewable sources in their buildings and branch offices where the infrastructure is in place. Moreover, five of the bank’s corporate buildings are LEED certified and three service points are powered by roof-top solar panels.
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