The Group’s Turkish franchise adds a different dimension to its work on sustainability and inclusive growth, two areas at the center of its strategy.
Garanti BBVA and Turkish TV station Bloomberg HT have joined forces to develop ‘Sustainable World’, a new TV program devoted to the environmental, social and economic aspects of sustainability. The series launched on September 26 and will be broadcast every Monday at 1pm (Turkish time) for eight weeks.
Garanti BBVA Executive Vice President Işıl Akdemir Evlioğlu participated in the first episode, where she evaluated financing sustainability initiatives and the role in green transformation. She also provided details about the transformative role of banks in this transition and the bank's sustainability efforts.
Işıl Akdemir Evlioğlu recalled that according to the Global Risks Report 2022 published by the World Economic Forum, the most threatening factor for the world in the next 10 years is seen as the "failure to take action for the climate. She noted how this situation will have multifaceted costs, not only socially and economically, but also environmentally, ranging from climate refugees to shortages of natural resources. "Due to climate inaction," she continued, "global GDP is projected to drop by between 4 and 18 percent, which will vary by region. All this confirms that a financial system that does not include the environment and society cannot survive."
The bank executive noted that by learning from the past and effectively managing risks, “we work to find answers to the question: how can we transform opportunities for the benefit of our business and society?" In addition to products that touch upon many different social issues from gender equality to increasing financial literacy, Garanti BBVA supports them not only with financing but also by establishing close relations with WWF Turkey, İKSV, ÖRAV and many other non-governmental organizations.
Today, with the bank's number of customers exceeding 21 million and 858 branches, Garanti BBVA is working to spread its impact network and sustainability strategy to all segments of society.
Işıl Akdemir Evlioğlu stated that banks have a very important transformative power, and “while we finance sustainable initiatives, we should not support actions that will increase the climate crisis." Garanti BBVA has taken an important step in this direction to reduce to zero the bank's exposure to activities related to coal by no longer financing companies in those areas.
By integrating sustainability into the credit structures Garanti BBVA has established its financing institution identity. "We have achieved many firsts, including providing more than TL 60 billion in financing for sustainable development.” Also, as the first bank from Turkey to join the Net Zero Banking Alliance, the bank is working on new strategies, including advisory for the green transformation of our customers operating in carbon-intensive sectors with the PACTA methodology.
IIn the following episodes of the program, the steps taken about the climate change in Turkey, the actions to be taken within the framework of the Paris Agreement and the COP27 process will be discussed. In addition, the importance of the climate index in terms of sustainability, the impact of the climate crisis especially on energy-intensive industries, and within the scope of the European Green Deal, the sustainable finance solutions and the methodologies that Garanti BBVA has offered for these industries will be explained.
Additionally, with regards the environmental aspect of sustainability, topics such as life in water, the problem of mucilage and the actions carried out in this direction, the impacts of forest fires on the ecosystem and measures to be taken in this regard, the role of civil initiatives in this process and “WWF Fire Management Grant Program” supported by Garanti BBVA will be shared with the audience. Further content in upcoming episodes includes: The function and projects of ÖRAV, founded by Garanti BBVA, in creating a sustainable education ecosystem; Supporting women's entrepreneurship with regards inclusive growth, and Garanti BBVA's efforts and collaborations on this subject.