The move advances the bank’s longstanding commitment to sustainable finance and responsible banking. Since 2011, BBVA’s Turkish franchise has integrated environmental and social risk assessments into its credit evaluation processes. It now takes a significant step forward by formally aligning with the Equator Principles, a set of guidelines established in 2003 to promote the responsible financing of large-scale infrastructure and industrial projects across sectors.
The Equator Principles framework includes ten guiding rules that span project risk categorization, environmental and social impact assessments, compliance with applicable standards, stakeholder engagement, and independent monitoring. The principles are widely used to evaluate and mitigate potential harm to communities, ecosystems, and cultural heritage in high-impact projects.
“With this signature, we aim to set an example for the financial sector in our country,” said Mahmut Akten, CEO of Garanti BBVA. “We recognize the responsibility placed on the banking industry in building a more sustainable future. Adopting the Equator Principles is both a strategic milestone and a reflection of our global vision as part of the BBVA Group, which has supported the principles since 2004.” Akten emphasized that sustainability is embedded in the bank’s core operations, beyond its financial offerings. “This commitment shows that we consider environmental and social impact not as a regulatory obligation but as a key factor in every financing decision we make, from safeguarding biodiversity to supporting social inclusion and cultural preservation.”
The principles apply to key sectors such as energy, transportation, and infrastructure, where environmental and social risks are often most pronounced. They are relevant for various financial structures, including project financing, advisory services, and refinancing.
By becoming a signatory, BBVA’s Turkish unit now commits to embedding best-in-class risk management practices into the early stages of project evaluation and throughout the financing lifecycle. This includes requiring independent reviews, stakeholder consultation, grievance mechanisms, and regular reporting. The adoption not only strengthens the bank’s risk governance but reinforces its regional leadership in sustainable finance, positioning it as a benchmark in Türkiye’s financial sector.
For further information about the Equator Principles and Garanti BBVA’s environmental and social risk management practices, please visit the bank’s website.