Business · Companies · 6 hrs ago
Garanti BBVA Raises Sustainable Finance Target to 3.5 Trillion Lira
Garanti BBVA chief executive Mahmut Akten says the bank is expanding financing for sustainable investments in Turkey.
The bank supports projects including renewable energy, energy efficiency and lower-carbon production.
It completed its earlier 400 billion lira target for 2018–2025 ahead of schedule and set a new 3.5 trillion lira target for 2018–2029.
By the third quarter of 2026, it said it had provided about 1.9 trillion lira in sustainable finance, including 855 billion lira that year.
About one in four loans it provides is now linked to sustainable finance.
The bank will be a global banking partner at COP31, which is scheduled for 9–20 November 2026 in Antalya, and aims to connect Turkey’s transition plans with international investors.
Akten also said recent fund-market developments had not affected the banking sector or consumer spending so far.
Garanti BBVA raised its sustainable finance target to 3.5 trillion Turkish lira for 2018–2029, after reaching its earlier target ahead of schedule.
The bank said it had provided about 1.9 trillion lira in sustainable finance by the third quarter of 2026.
It said 855 billion lira of that financing was provided in 2026.
About one in four loans provided by the bank is currently matched with sustainable finance.
Garanti BBVA is a Global Banking Partner for COP31, which is scheduled to take place in Antalya from November 9 to 20, 2026.
- Who
- Garanti BBVA.
- What
- The bank raised its sustainable finance target to 3.5 trillion lira.
- When
- The target covers 2018–2029; the announcement was reported on October 21, 2026.
- Where
- Turkey.
- Why
- The bank said it aims to support investments including renewable energy, energy efficiency, electrification, low-carbon production and climate adaptation.
This story does not have two clearly opposing sides.
Garanti BBVA set an initial sustainable finance target of 400 billion lira and completed it ahead of schedule.
The bank’s revised sustainable finance target covers this period and totals 3.5 trillion lira.
Turkey’s Green Taxonomy Regulation was published, covering 16 sectors and 137 economic activities.
Garanti BBVA reported about 1.9 trillion lira in sustainable finance, including 855 billion lira provided during 2026.
COP31 is scheduled to take place in Antalya, with Garanti BBVA and BBVA serving as Global Banking Partners.
- Revised target
- 3.5 trillion Turkish lira for 2018–2029
- Previous target
- 400 billion Turkish lira for 2018–2025
- Sustainable finance provided
- About 1.9 trillion Turkish lira by the third quarter of 2026
- 2026 contribution
- 855 billion Turkish lira
- Share of loans
- About one in four is matched with sustainable finance
- COP31 dates and location
- November 9–20, 2026, Antalya, Turkey
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What people are saying
Sustainability should be an integral part of the business strategies of all institutions, regardless of sector or scale.
What matters to us is not only the size of the financing we provide, but also which investments are implemented with these resources and how they contribute to companies’ transformation.