Environmental and Social Loan Policies

Garanti BBVA developed and implemented Environmental and Social Loan Policies (ESLP) in 2011 to minimize the indirect effects of the loans provided by the Bank.

Garanti BBVA considers all stakeholders, especially its customers and employees, to be aware of its own ESLP as an important opportunity in the process of raising awareness on sustainable development.

Loan requests from Garanti BBVA are first subjected to ESLP and if the project policy is not appropriate, the demand is rejected. The ESLP applies to all loans without any limit and is based on the following criteria:

  • Garanti BBVA pays attention to the projects financed are at the highest level of environmental and social benefits.
  • Garanti BBVA supports the conservation and management of natural biodiversity. It ensures that the precautions to be taken in the projects it finances include elements that will protect biodiversity and not threaten natural habitats.
  • Garanti BBVA supports increased energy efficiency and transition towards a low carbon economy.
  • Garanti BBVA assesses new investment projects having investment amount over USD10 million according to its own Environmental and Social Impact Assessment Model (ESIAM). Within this model, projects are categorized according to their characteristics, size, sensitivity, location and their potential social and environmental impacts, and risk ratings are given. Action is taken according to the risk rating reached within the model.
  • The following finances are not assessed under the ESIAM:
    • Acquisition and privatization loans,
    • Construction loans – Loan Commitment (except for mass housing projects),
    • Short or long-term loans that do not include the realization of any project,
    • Loans provided to a project that is already operational
    • Refinancing loans requested for previously used project loans.
  • Garanti BBVA may request from the owners of the projects with a risk rating higher than a certain grade after ESIAM to prepare and apply the Environmental and Social Management Plan (ESMP) and periodically report it to the Bank. It is expected that the scope of the ESMP will be established in content and detail in accordance with the scale of the project, the level of risk, and the assessment system of Garanti BBVA.
  • It is essential that a process is carried out in which the results of the environmental and social impact assessment are shared with the Loan Committee. Financial borders, policies and processes can be revised if deemed necessary by the Sustainability Committee.
  • Garanti BBVA does not finance any activities or projects that are prohibited and restricted by international legislation and international agreements to which Turkey is a party, and also involving the following matters, without assessing to any environmental and social impact assessments and without regarding the amount.
    • Companies involved in the production of weapons of mass destruction and landmines
    • Individuals or companies found to employ child labor or which violate human rights
    • Individuals or companies that deal with the production and trade of asbestos fibers or radioactive substances (excluding healthcare equipment, quality control devices and situations in which use of radioactive substance are extremely limited or insignificant, or in situations where there is sufficient protection)
    • Fishing activities which are deemed to constitute overfishing
    • Forestry activities which cannot be sustainably managed
    • Individuals or companies involved in the production, warehousing, transport and trade of hazardous chemicals (petroleum and petrochemical products) in large quantities according to their industrial scale
    • Activities carried out in wetlands defined as RAMSAR (Convention on Wetlands of International Importance) sites
    • Individuals or companies involved with products and/or activities that fall under the scope of CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora)
    • Activities that threaten the cultural heritage qualifications of sites classified as UNESCO World Cultural Heritage
  • Garanti BBVA takes care to ensure that the projects financed by the Bank meet the social and environmental standards required by the policies and legislation, that the impact assessments are made by the project owner when necessary, that the measures specified are violated and that the project owners have effective internal control systems. Where necessary, proposals for additional measures are taken and the project owner requests the necessary work to be undertaken.
  • Garanti BBVA pays attention that the projects it finances comply with the laws as well as the social and environmental standards of the Bank’s policies, and that project owners carry out risk assessments, take necessary precautions, and have efficient internal audit systems. The Bank, if necessary, proposes to take additional precautions and requests the project owner to carry out the necessary work.

Sözleşme

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Sözleşme

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