Garanti BBVA has firmly established itself as a regional leader in sustainable finance, delivering exceptional growth and innovation. In 2024, the bank mobilised TL171.4 billion ($4.25 billion) in sustainable finance – up 136% from TL72.4 billion in 2023 – and exceeding its annual target by 41%.
The bank’s strategy is built on two pillars: climate action mobilisation (green finance) and inclusive growth mobilisation (social finance). In 2024, Garanti BBVA channelled TL91.1 billion into climate-related initiatives – 161% of its target – and TL80.3 billion into social finance, achieving 124% of its goal.
Retail sustainable financing rose 183% to TL77.4 billion, while corporate and investment banking volumes grew 141% to TL35.2 billion. Commercial banking also saw a 92% increase.
Garanti BBVA’s product innovation has been central to this success. In 2024, it launched a range of new green products, including electric bicycle loans, corporate green auto loans, EV charging station loans, and building insulation loans. These were complemented by the rooftop solar loan for businesses, green mortgages for energy-efficient homes, and sustainability-linked loans tied to ESG performance targets.
Having committed to phase out coal-related financing by 2040, the bank achieved a 10% reduction in coal exposure in 2024 alone
The bank also issued sustainable bonds and introduced a syndicated loan with sustainability criteria, alongside a sustainability-themed loan package to support emissions reduction.
Having committed to phase out coal-related financing by 2040, the bank achieved a 10% reduction in coal exposure in 2024 alone. Its environmental & social impact assessment process reviewed 93 projects and conducted 18 site visits to ensure compliance with ESG standards.
The bank’s alignment with international standards is robust. It adheres to the CDP, Task Force on Climate-related Financial Disclosures, and Net-Zero Banking Alliance frameworks, and uses the Partnership for Carbon Accounting Financials methodology to measure financed emissions. In 2024, it achieved an “A” grade in CDP’s climate change and water security assessments and ranked 15th globally in the S&P Global Corporate Sustainability Assessment – the highest among Turkish banks.
Having already mobilised TL291 billion in its 2018-2025 roadmap, Garanti BBVA has revised its 2025 sustainable finance target from TL150 billion to TL400 billion, showing its renewed ambition.
