Garanti Bbva

Garanti BBVA, a financial intermediation services provider based in TR, has set ambitious climate commitments. For the 2023 reporting year, the bank reported total emissions of approximately 47.21 billion kg CO2e. This figure is comprised of Scope 1 emissions totalling 18.07 million kg CO2e, and Scope 3 emissions amounting to approximately 11.45 billion kg CO2e. Scope 2 emissions data was not specified for 2023.

Looking at earlier data, in 2022, Garanti BBVA's total emissions were approximately 19.39 million kg CO2e, with Scope 1 emissions at 18.98 million kg CO2e and Scope 3 at approximately 0.41 million kg CO2e. The year 2021 saw total emissions of around 18.70 million kg CO2e, with Scope 1 at 18.64 million kg CO2e and Scope 3 at approximately 0.06 million kg CO2e.

Garanti BBVA has established significant climate targets. The bank has committed to reducing its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 54.6% by 2033, using 2022 as a base year. Additionally, it aims to reduce its absolute Scope 3 GHG emissions by 32.5% within the same timeframe. These targets are consistent with the Science Based Targets initiative (SBTi) for a 1.5°C warming scenario. Previously, the bank had a target for a 50% reduction in total Scope 1 and 2 emissions per total assets between 2012 and 2020.

It is noted that some emissions data may be cascaded from its parent organisation, Turkiye Garanti Bankasi A.S., with a cascade level of 1, indicating it is a current subsidiary. SBTi initiatives are also linked to Turkiye Garanti Bankasi A.S. at cascade level 0.