Akbank, recognised for its forward-thinking efforts towards achieving net-zero commitments in Turkey, takes Euromoney’s regional award for CEE’s best bank transition strategy 2025.
The bank has established clear decarbonisation targets for key high-emission sectors such as electricity generation and real estate. These goals are complemented by an ambitious plan to cease all coal-related financing by 2040.
Akbank’s rigorous approach includes the public disclosure of absolute emissions and intensity metrics, adhering to standards set by the Net-Zero Banking Alliance (NZBA), highlighting its dedication to transparency and environmental accountability.
In terms of governance, Akbank has bolstered its framework with the establishment of a climate change and sustainability management department in 2024. This strategic move signifies the bank’s commitment to environmental issues at an organisational level.
The sustainability committee … underscores a high level of leadership accountability and strategic alignment with international standards
The sustainability committee, inclusive of senior management such as the CEO and board members, underscores a high level of leadership accountability and strategic alignment with international standards, including the Science-Based Targets initiative, Task Force on Climate-Related Financial Disclosures and NZBA.
Akbank also excels in integrating advanced risk assessment tools within its operational framework. The Climate Risk Evaluation Tool (CRET) is particularly pivotal in embedding transition and physical risks into lending decisions.
This capability is instrumental in guiding the bank’s engagement in key national policy developments, such as the Green Asset Ratio and the Climate Transition Finance Handbook. Moreover, Akbank has revisited its sustainable finance framework to better facilitate transition finance in sectors that are traditionally challenging to decarbonise, demonstrating leadership and proactive engagement in shaping a sustainable financial landscape in Turkey.
