TURKISH ECONOMY BANK INC. Sustainability Profile
Turkish Economy Bank Inc. (TEB), headquartered in Turkey, is a prominent player in the banking sector, offering a wide range of financial services. Established in 1927, TEB has evolved significantly, marking key milestones in its journey, including its acquisition by BNP Paribas in 2005, which enhanced its operational capabilities and international reach. Operating primarily in Turkey, TEB focuses on retail banking, corporate banking, and investment services, catering to diverse customer needs. Its core products, such as innovative loan solutions and digital banking services, set it apart in a competitive market. TEB's commitment to customer satisfaction and technological advancement has solidified its position as a trusted financial partner, earning accolades for its service quality and operational excellence.
DitchCarbon Score
How does TURKISH ECONOMY BANK INC.'s carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
TURKISH ECONOMY BANK INC.'s score of 45 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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TURKISH ECONOMY BANK INC.'s reported carbon emissions
In 2021, Türk Ekonomi Bankasi Anonim Sirketi (TEB) reported total carbon emissions of approximately 25.1 million kg CO2e. This figure reflects the bank's ongoing commitment to monitoring its environmental impact, although specific breakdowns for Scope 1, Scope 2, and Scope 3 emissions were not disclosed for this year. Looking at previous years, TEB's emissions were approximately 26.1 million kg CO2e in 2020 and about 27.6 million kg CO2e in 2019. The bank's emissions have shown a slight downward trend, indicating a potential commitment to reducing its carbon footprint, although no formal reduction targets or initiatives have been documented. TEB's emissions data is cascaded from its parent company, BNP Paribas SA, which may influence its climate strategies and commitments. However, TEB has not specified any Science-Based Targets Initiative (SBTi) reduction targets or other formal climate pledges, suggesting that while the bank is aware of its emissions, it may still be in the early stages of developing comprehensive climate commitments. Overall, TEB's emissions data highlights the importance of transparency in corporate sustainability efforts, and the bank's future initiatives will be crucial in addressing its environmental impact.
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| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Scope 1 | 4,248,000 | 0,000,000 | - | - | - |
| Scope 2 | 18,439,000 | 00,000,000 | - | - | - |
| Scope 3 | - | - | - | - | - |
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TURKISH ECONOMY BANK INC.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
TURKISH ECONOMY BANK INC. has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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