Climate Change Management

Majority of our bank’s impact on climate change arises from the projects we finance. As well as assessing the impact of the investments we finance, we attach importance to the environmental impacts which occur during our own operations and carry out studies accordingly. We address our environmental impact within the scope of climate change, water and waste management, and regard reducing the impact on these areas as a fundamental component of our sustainability approach.

Construction of the Garanti BBVA Pendik Technology Campus is continuing according to LEED criteria.

Climate change continues to be one of the biggest challenges facing the world today, as a global threat that may affect each and every aspect of our civilization. The climate change related risks for the banking industry vary from rising operating costs to the uncertainty in the legal framework. Banks that successfully handle and manage these risks will not only be in a position to minimize these costs but will benefit from various opportunities such as being able to address changing customer profile expectations and meeting the financing needs of “green” investments. For this reason, Garanti BBVA Bank believes that climate change is a strategic issue that requires full integration with all business processes and decision-making mechanisms.

Garanti BBVA published its Climate Change Action Plan in October 2015, which focuses on carbon pricing, reducing deforestation, managing climate-related water risks and implementing green office standards and made Garanti BBVA the first bank in Turkey to commit to UN Global Compact’s Business Leadership Criteria on Carbon Pricing.

Disclosing climate change strategies using the CDP platform, we also retained our score in the climate change program and we were listed among CDP Turkey Leaders. We became the only company from Turkey qualified to be included in the Dow Jones Sustainability Emerging Markets Index for three consecutive years.

 

Year

SCOPE 1 (TCO2E)

SCOPE 2* (TCO2E)

SCOPE 3** (TCO2E)

TOTAL TCO2E (SCOPE 1&2)

GHG EMISSIONS INTENSITY***

(TCO2E/TOTAL ASSESTS)

% CHANGE IN

GHG EMISSIONS

INTENSITY

2018

12,933

54,300

3,111

67,233

168

-15%

2017

11,835

58,628

2,494

70,463

198

-9%

2016

10,924

57,259

3,181

68,183

218

-20%

2015

11,763

63,874

3,571

75,637

271

-0.4%

2016

8,698

57,378

3,709

66,077

274

-22%

The Scope 2 emissions for 2018 have been recalculated since the methodology to calculate Scope 2 emissions have been updated with lower emission factors in 2018. KPMG limited assurance report can be found on page 198 of 2018 Integrated Annual Report for all non-financial indicators and KPMG letter for the change in 2018 Scope 2 emissions can be found here.

 

* Location-based

** Stated Scope 3 emissions are due to business flights. Total flight distance in 2018 is 27,829,517km.

 *** Scope 3 is not included in the intensity calculations

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