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 43 is higher than 92% 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 and 460,000 kg CO2e from Scope 2 emissions. The bank's Scope 3 emissions were about 3,590,000 kg CO2e. This reflects a commitment to reducing its carbon footprint, with significant reductions noted in recent years. In 2022, the total emissions were approximately 12,930,000 kg CO2e, with Scope 1 emissions at about 12,825,000 kg CO2e and Scope 2 emissions at 112,000 kg CO2e. The Scope 3 emissions for that year were around 2,532,000 kg CO2e. In 2021, the total emissions were significantly higher at approximately 414,391,000 kg CO2e, with Scope 1 emissions of about 12,796,000 kg CO2e, Scope 2 emissions of 5,406,000 kg CO2e, and Scope 3 emissions reaching approximately 3,461,000 kg CO2e. Vakifbank has set near-term targets aligned with a 1.5°C pathway, aiming to cover 7% of its total investment and lending activities by total assets as of 2021. The bank's targets are designed to ensure that its operations contribute to the necessary reductions in greenhouse gas emissions, consistent with global climate goals. While the bank has not committed to a net-zero target, it has established a framework for compliance with climate commitments, with targets to be submitted by July 31, 2023. This proactive approach highlights Vakifbank's dedication to addressing climate change and reducing its environmental impact.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 12,796,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 31,282,500 | 000,000 | 000,000 |
| Scope 3 | 3,461,000 | 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.
