Garanti BBVA has been working towards sustainable development focusing on combating climate change and on inclusive growth for 15 years 15 years to support sustainability, as is one of its strategic goals. Drawing on its sector-steering know-how and experience, know-how and experience, the Bank leads sustainable development sustainable development in the market with its business model that embraces the opportunities stemming from sustainable development as well as climate change-related risk climate change-related risk management. management. In this context, Garanti BBVA collaborates with its peers and the business world on a global level on a global level to identify new opportunities, capture emerging best practices and products, and remain as a leader in sustainable finance and development sustainable finance and development in Türkiye.

Garanti BBVA diversifies the financial instruments provided for low carbon and inclusive growth, low carbon and inclusive growth, and cooperates with international financial institutions for low-cost funding. low-cost funding. Drawing on its intellectual capital, the Bank introduces worldwide worldwide pioneering applications pioneering applications and innovative financial resources innovative financial resources that incorporate sustainable finance criteria.

WHAT WE DID IN 2021

In addition to following local and global developments, Garanti BBVA maintains collaborations for the implementation and announcement of these developments in the Turkish market. Following the 26 26th th UN Climate Change Conference of Parties UN Climate Change Conference of Parties (COP26) (COP26) that was scene to the most crucial climate negotiations since the Paris Agreement, Paris Agreement, Garanti BBVA co-hosted the Climate Climate Finance Workshop Finance Workshop with the Institute of International Finance Institute of International Finance (IIF) (IIF) to tackle the measures and pledges against climate change within the framework of climate finance.

Held in November 2021, the Workshop featured public and private sector representatives, academicians and sector professionals who discussed the way emerging countries look at climate finance and the post-COP26 agenda. During the Workshop, many experts from international platforms and from different sectors discussed their opinions about resolutions that gained the foreground in COP26 and about mobilization of climate finance within the Turkish economy.

Garanti BBVA was also granted the “Best Bank for Sustainable Finance in Türkiye” and “Best Investment Bank in Türkiye” awards by Global Economics in 2021.

PRODUCTS AND SERVICES

Despite the continued effect of the pandemic upon the markets, Garanti BBVA kept guiding the market guiding the market by enhancing its sustainable products and services in 2021. Garanti BBVA realized the first Green Public Offering in Türkiye in the field of sustainable finance with Galata Wind. In this period of increased expectations regarding sustainability in the investor world in the wake of the Covid-19 pandemic, Garanti BBVA presented yet another first in Türkiye first in Türkiye in sustainable finance and realized the first Green Public Offering first Green Public Offering with Galata Wind.

In addition to the sustainability rating audit audit received from an international rating agency for the IPO process, environmental and social commitments environmental and social commitments were added to the prospectus submitted to the CMB. Placed in the “Robust” “Robust” category as a result of the ESG evaluation ESG evaluation at the commencement of the IPO, Galata Wind pledged on an international level that it will never invest in fossil resources but only in renewables, never invest in fossil resources but only in renewables, achieve net-zero operational carbon emissions by end-2025, net-zero operational carbon emissions by end-2025, have its carbon emissions reduction verified carbon emissions reduction verified and its carbon credits carbon credits approved approved until the expiry of Gold Standard and VCS (Verified Carbon Standard) deadlines, bring the ratio of women in head ratio of women in head office executive positions above 30% within two years, office executive positions above 30% within two years, and has fulfilled its commitment to have at least one woman member on at least one woman member on its board of directors its board of directors in 2021.

Distribution of the financing provided as at 31 December 2021: