Vakifbank
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 40 is higher than 65% 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 reflects a slight decrease in Scope 1 emissions from 12,825,000 kg CO2e in 2022, while Scope 2 emissions increased from 112,000 kg CO2e, and Scope 3 emissions rose from 2,532,000 kg CO2e. Vakifbank has set near-term targets aligned with the Science Based Targets initiative (SBTi) to limit global warming to 1.5°C. These targets aim to cover 7% of its total investment and lending activities by total assets as of 2021, with required activities making up 10% and optional activities 40%. The bank's near-term target year is set for 2027, with an additional target for 2032. The emissions data and targets are sourced from Türkiye Vakiflar Bankasi Türk Anonim Ortakligi, with no cascaded data from parent organizations. As a financial institution, Vakifbank is committed to reducing its operational emissions in line with industry standards and climate commitments.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Vakifbank is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
