Garanti BBVA Issues $30 Million Sustainable Bonds for Climate Resilience Projects
Garanti BBVA successfully completed the issuance of 30 million dollars in sustainable bonds to fund projects focused on climate adaptation and resilience under its international borrowing program. The transaction, executed on June 29th, features a 371-day maturity and positions itself as one of the pioneering sustainable finance practices in the adaptation and resilience sector. Operating within the BBVA Sustainable Bond Framework, the bank continues to diversify its sustainable finance strategy by introducing new financial instruments to support investments in climate adaptation and resilience. Bond proceeds will be allocated to climate-resilient water infrastructure and management projects, flood prevention and stormwater management systems, climate and disaster-resilient public infrastructure, post-disaster reconstruction efforts, resilient urban transformation and infrastructure strengthening initiatives, emergency preparedness and early warning systems, and digitization/modernization of water administrations and critical infrastructure. The objective is to enhance climate adaptation and resilience while improving resource efficiency and supporting environmental sustainability.
Strategic Vision for Climate Resilience Financing
Garanti BBVA CEO Mahmut Akten emphasized the strategic importance of sustainable finance, stating: "The climate crisis necessitates not only a transition to a low-carbon economy but also making our production systems, cities, natural resources, and infrastructure more resilient to changing climate conditions. At Garanti BBVA, we view sustainable finance as a strategic tool to support our customers' transformation and strengthen the long-term resilience of the economy and society. Through our 30 million dollar sustainable bond issuance focused on Adaptation and Resilience, we aim to provide funding for concrete projects spanning from water management and flood prevention to emergency preparedness and the modernization of critical infrastructure. We thank all investors who trust Garanti BBVA's sustainability vision, international capital markets experience, and financial strength."Dr. Aslıhan Demir: "This issuance reflects Garanti BBVA's strategic approach to financing climate risks. The 371-day structure addresses short-term liquidity needs while marking a significant step in scaling the bank's sustainability strategy amid rising demand for adaptation and resilience-focused funds. The increasing prevalence of similar bond structures could make Turkey's green bond market more attractive to international investors, particularly as it aligns with global sustainable finance trends."