Vakifbank

Vakıfbank, a financial intermediation services provider headquartered in TR, reported a total of approximately 29.6 billion kg CO2e in 2024. This figure encompasses Scope 1, 2, and 3 emissions. In the same year, Scope 1 emissions were approximately 13 million kg CO2e, Scope 2 emissions were around 145,000 kg CO2e, and Scope 3 emissions reached approximately 3.85 million kg CO2e. The significant portion of Scope 3 emissions is attributed to the use of sold products, amounting to about 29.6 billion kg CO2e, alongside upstream transportation and distribution at approximately 1.74 million kg CO2e.

In 2023, Vakıfbank's total emissions were approximately 49.1 billion kg CO2e. Scope 1 emissions for that year were around 11.9 million kg CO2e, Scope 2 emissions were approximately 460,000 kg CO2e, and Scope 3 emissions stood at about 3.59 million kg CO2e. The use of sold products contributed approximately 49.1 billion kg CO2e to Scope 3 emissions, with upstream transportation and distribution at approximately 2.17 million kg CO2e.

Vakıfbank has set near-term Science Based Targets initiative (SBTi) targets classified as 1.5°C, with a target year of 2027. Additionally, there are SBTi targets with a 2032 target year, also classified as 1.5°C. These targets, originating from Türkiye Vakıflar Bankası Türk Anonim Ortaklığı, cover emissions from company operations (Scopes 1 and 2) and are consistent with reductions required to limit warming to 1.5°C. Their portfolio targets, as of 2021, covered 7% of total investment and lending activities by total assets.