Garanti Bank's Commitment to Enhance Environmental Sustainability Throughout its Value Chain

Garanti Bank's Commitment to Enhance Environmental Sustainability Throughout its Value Chain

  • Overview

    Summary

    As a leading financial institution in Turkey, we are committed to contributing to sustainable growth in the communities in which we operate, conducting our business in a responsible manner and increasing the value we provide for our customers, shareholders, employees, the environment and the society as a whole. We are further aware that these goals can only be achieved through shared responsibility and collaboration with all our stakeholders, engagement with our peers and institutions along our value chain and implementing best practices and international standards in our products and services.

    As the single largest private lender for wind projects and one of the top three lenders to renewable energy projects in Turkey, Garanti Bank’s share in Turkey’s installed wind power capacity amongst Turkish banks is approximately 57%. In addition to its leading position in sustainable energy financing, Garanti Bank is committed to take action to further enhance its contribution to environmental sustainability by making progress on the following 6 areas throughout its value chain:

    1. ISO 14001 certified Environmental Management System
    2. GHG Reduction Target
    3. Awareness Raising Activities
    4. Environmental and Social Risk Assessment
    5. Environment – Friendly Cooling and Lighting
    6. Environment – Friendly Supply Chain

    Commitment Target(s)
    • 2014 – ISO 14001 certified Environmental Management System (EMS): Garanti Bank targets to increase the number of ISO14001 certified points of service from 260 to above 600.

    • 2014 – GHG Reduction Target: Garanti Bank aims to reduce the ratio of Scope 1 and Scope 2 greenhouse gas emissions (equivalent to CO2) in its total assets by 3%.

    • 2014 – Awareness Raising Activities: Garanti Bank will revise its existing Sustainability E-Learning Programme and will develop a new awareness raising programme targeted towards its employees. Furthermore, Garanti Bank will develop a distance-learning program about its new product for financing of solar power projects under 1 MW for SMEs for its banking personnel. 26% of all training sessions is targeted to incorporate educational technologies, resulting in GHG reduction associated to business travel.

    • 2015 – Environmental and Social Risk Assessment: Garanti Bank is planning to present an enhanced version of its existing Environmental and Social Impact Assessment Process based on the improvements in national and international environmental and social standards to the approval of Sustainability Committee and the BoD. Garanti Bank will expand the environmental and social risk assessment system to three of its Subsidiaries. Garanti Bank will also review its loan portfolio and draft plans to expand the EMS to its customers.

    • 2015 – Environment – Friendly Cooling and Lighting: Garanti Bank has been switching to A+ type air conditioners using R410 in either renovated or newly opened facilities, in order to gradually change over to environment-friendly cooling systems for the past few years. Garanti Bank’s new target is to replace the old air conditioners with A+ type air conditioners using R410 refrigerant in 100 existing branches, even though those branches are not within the scope of refurbishment program. This will accelerate the process of transition to environment-friendly cooling systems in all branches.Additionally, Garanti will continue to ensure energy efficiency in lighting systems through the usage of LED systems and other methods in branches that are renovated or newly constructed.

    • 2016 – Environment – Friendly Supply Chain: Supplier contracts representing 50% of total procurement is targeted to include specific provisions regarding compliance with Garanti Bank’s EMS.

    • Supporting resources

      Employees, subsidiaries, customers, suppliers.

      Sustainable Development Goals
      4. Quality education; 7. Affordable and clean energy; 11. Sustainable cities and communities; 12. Responsible consumption and production; 13. Climate action; 14. Life below water; 15. Life on land
      Issue areas
      Biodiversity; Climate Change; Education; Energy; Principle 7; Principle 8; Principle 9
      Industry sector(s) that apply to this commitment
      Banks
      Country(s) where this commitment will be implemented
      Turkey

      Partners

      Names of committing organisations

      Note: All organisations listed above are accountable for the commitment made. These organisations are required to complete an annual communication on progress for the duration of the commitment, either jointly or individually, as laid out in the accountability section of the submission form.