Vakifbank Sustainability Profile
VakifBank, officially known as Türkiye Vakıflar Bankası T.A.O., is a prominent financial institution headquartered in Turkey. Established in 1954, the bank has grown to become a key player in the Turkish banking sector, with a strong presence in both retail and corporate banking across major operational regions, including Europe and the Middle East. Specialising in a diverse range of services, VakifBank offers innovative solutions in personal banking, commercial loans, and investment services. Its commitment to customer satisfaction and technological advancement sets it apart in a competitive market. With a robust market position, VakifBank has achieved significant milestones, including numerous awards for excellence in banking services, solidifying its reputation as a trusted financial partner in Turkey and beyond.
DitchCarbon Score
How does Vakifbank'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
Vakifbank's score of 43 is higher than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vakifbank's reported carbon emissions
In 2023, Vakifbank reported total carbon emissions of approximately 12,883,000 kg CO2e, comprising 11,883,000 kg CO2e from Scope 1, 460,000 kg CO2e from Scope 2, and 3,590,000 kg CO2e from Scope 3 emissions. This represents a decrease from 2022, where total emissions were about 12,937,000 kg CO2e, with Scope 1 emissions at 12,825,000 kg CO2e, Scope 2 at 112,000 kg CO2e, and Scope 3 at 2,532,000 kg CO2e. Vakifbank has set near-term targets aligned with the Science Based Targets initiative (SBTi), aiming for reductions consistent with limiting global warming to 1.5°C. These targets cover 7% of its total investment and lending activities as of 2021, with required activities making up 10% of total assets. The bank's commitment to these targets reflects its proactive approach to managing greenhouse gas emissions from its operations (Scopes 1 and 2). The emissions data is sourced directly from Türkiye Vakiflar Bankasi Türk Anonim Ortakligi, with no cascaded data from parent organizations. As a financial institution, Vakifbank is actively working towards integrating sustainability into its investment and lending practices, demonstrating a commitment to climate responsibility within the banking sector.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 12,985 | 00,000 | 00,000 | 00,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 3,803 | 0,000 | 00,000 | 00,000 | 0,000,000 | 000,000 | 000,000 |
| Scope 3 | 6,672 | 0,000 | 0,000 | 0,000 | 0,000,000 | 0,000,000 | 0,000,000 |
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Vakifbank'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.
Vakifbank 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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Frequently Asked Questions
Common questions about Vakifbank's sustainability data and climate commitments