While 12 of Türkiye’s 17 banks are moving towards the “net zero” goal, 10 have pledged not to finance new coal projects.
Oku.Az Haber Global reported on this, covering the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29).
According to the information, the Sustainable Economy and Finance Research Association (SEFiA) has published the third part of its report titled “Banks’ approach to climate change in Turkey.”
The report analyzes the climate change practices of 17 commercial, public and private investment banks in Turkey under five main headings: fossil fuel investments, “net zero” goal, carbon footprint, clean energy investments, ESG (environmental governance, social and corporate) and Similar qualifications are being investigated.
According to the document, the activities carried out by 17 banks within the framework of sustainability and the fight against the climate crisis have advanced in different directions. However, the pace has slowed slightly in 2023 compared to previous reporting periods.
Among the positive developments, according to the report, is that banks that support long-term “net zero emissions” goals and announce interim targets for carbon footprint, clean energy investments are implementing and validating these goals in accordance with a science-based methodology.
It should be noted that the report, which has been published for three years, shows the progress made by Türkiye’s financial sector in the fight against the climate crisis.
