Garanti BBVA Becomes First Turkish Bank to Adopt Equator Principles

In a significant advancement towards sustainable finance, Garanti BBVA has officially adopted the Equator Principles, making it the first financial institution in Turkey to do so. This decision aligns the bank with a globally recognized framework utilized by over 130 financial institutions worldwide to manage environmental and social risks associated with project financing. The adoption was announced on July 17, 2025, and represents a pivotal moment in Garanti BBVA's ongoing commitment to responsible banking and sustainable financial practices.

The Equator Principles, established in 2003, consist of ten guiding rules aimed at promoting responsible financing for large-scale infrastructure and industrial projects. These principles encompass project risk categorization, environmental and social impact assessments, compliance with applicable standards, stakeholder engagement, and independent monitoring. By implementing this framework, Garanti BBVA aims to mitigate potential adverse effects on communities, ecosystems, and cultural heritage that may arise from high-impact projects.

According to Mahmut Akten, CEO of Garanti BBVA, the adoption of the Equator Principles is not merely a regulatory obligation but rather a strategic milestone that reflects the bank's vision within the BBVA Group. "With this signature, we aim to set an example for the financial sector in our country," Akten stated. He highlighted that sustainability is embedded in the bank's operational ethos, extending beyond financial offerings to encompass environmental and social considerations in every financing decision.

Since 2011, BBVA's Turkish franchise has integrated environmental and social risk assessments into its credit evaluation processes. This latest move signifies a formal commitment to embedding best-in-class risk management practices from the early stages of project evaluation through the financing lifecycle. This includes requirements for independent reviews, stakeholder consultations, grievance mechanisms, and regular reporting, thereby enhancing the bank's risk governance framework.

The Equator Principles are particularly relevant to key sectors such as energy, transportation, and infrastructure, where environmental and social challenges are often most pronounced. By becoming a signatory, Garanti BBVA strengthens its regional leadership in sustainable finance and positions itself as a benchmark within Türkiye's financial sector.

This strategic shift not only enhances Garanti BBVA's operational framework but also aligns with global trends towards sustainability in finance. As financial institutions increasingly face scrutiny regarding their environmental and social impact, Garanti BBVA's adoption of the Equator Principles underscores the growing importance of responsible banking practices in achieving long-term sustainability goals.

For further information about the Equator Principles and Garanti BBVA’s environmental and social risk management practices, please visit the bank’s official website.