Garanti BBVA Issues $30 Million Sustainable Bond Focused on Climate Adaptation and Resilience

Garanti BBVA has successfully completed the issuance of a sustainable bond focused on climate adaptation and resilience under the framework of its international funding program. Issued on June 29, the bond has a tenor of 371 days and a principal amount of $30 million, making it one of the first sustainable finance transactions focused on climate adaptation and resilience. Through this issuance, structured under the BBVA Sustainable Debt Financing Framework, the Bank continues to diversify its sustainable finance strategy by introducing new financing instruments that support investments in climate adaptation and resilience.

The proceeds from the bond will finance projects targeting climate-resilient water infrastructure and water management, flood prevention and stormwater management infrastructure, climate- and disaster-resilient public infrastructure, post-disaster reconstruction, resilient urban regeneration and infrastructure reinforcement, emergency preparedness and early warning systems, as well as the digitalization and modernization of water utilities and critical infrastructure. These investments are intended to strengthen climate adaptation and resilience while enhancing resource efficiency and supporting environmental sustainability.

Commenting on the transaction, Mahmut Akten, country manager of Garanti BBVA, said:

“The climate crisis requires not only a transition to a low-carbon economy, but also the transformation of our production systems, cities, natural resources and infrastructure to become more resilient to changing climate conditions. Through this issuance, we aim to finance projects that strengthen long-term resilience while supporting sustainable development.”

Akten noted that Garanti BBVA views sustainable finance not only as a way to support its customers’ transition, but also as a strategic tool for making the economy and society more resilient in the long run. He added that the proceeds from the $30 million bond would finance projects ranging from water management and flood prevention to disaster preparedness and the modernization of critical infrastructure, and thanked investors for their confidence in Garanti BBVA's sustainability vision, expertise in international capital markets, and strong financial position.