Garanti BBVA raises sustainable financing target to 3.5 trillion TL

Garanti BBVA CEO Mahmut Akten announced during a meeting held ahead of the COP31 summit, which will take place in Antalya in November, that they have increased the bank's sustainable financing target for the 2018–2029 period to 3.5 trillion TL.

While financing needs for the green transition of high-carbon emission sectors such as cement, mining, infrastructure, automotive, and textiles are increasing, Garanti BBVA, the Global Banking Partner of COP31, shared its new targets. It was stated that the bank reached approximately 1.9 trillion TL in sustainable financing as of the third quarter of 2026.

According to the World Bank Turkey Country Climate and Development Report shared at the meeting, it was stated that Turkey needs approximately $165 billion in additional investments between 2022 and 2040 in line with its 2053 net-zero target. While Garanti BBVA has provided over $7.7 billion in investments for renewable energy projects since 2014, it carried out 27 billion TL in financing for electric vehicles and charging infrastructure this year.