Key Takeaways
- Garanti BBVA issued a green bond under its Sustainable Debt Finance Framework, with proceeds directed toward sustainable agriculture projects in Türkiye.
- The funds will support organic and sustainable agricultural production, land management practices, efficient irrigation infrastructure, and water management systems.
- Additional proceeds will go toward climate change adaptation measures, agricultural resilience efforts, and investment in agricultural infrastructure.
- Garanti BBVA raised its sustainable finance target for the 2018–2029 period to TRY 3.5 trillion and had reached roughly TRY 1.3 trillion of that goal by the end of the first quarter of 2026.
- CEO Mahmut Akten said the bank views sustainable finance as central to supporting Türkiye's economic transformation.
Garanti BBVA Bond Proceeds Aimed at Agricultural Sustainability
Garanti BBVA has issued a green bond under its Sustainable Debt Finance Framework, earmarking the proceeds for sustainable agriculture projects across Türkiye. The funding is set to support organic and sustainable agricultural production, along with land management practices designed to protect natural resources.
Part of the proceeds will also go toward efficient irrigation infrastructure and water management systems, an area the bank has previously highlighted through the publication of its own organizational water footprint. The remaining funds are allocated to measures that strengthen climate change adaptation and resilience in agricultural activities, as well as broader investment in agricultural infrastructure — part of a wider push across the sustainable agriculture space.
Garanti BBVA Leadership Comments on the Issuance
“At Garanti BBVA, we view sustainable finance as a key tool for supporting the transformation of Türkiye's economy,” said Mahmut Akten, CEO of Garanti BBVA.
Akten pointed to the strategic role of the agricultural sector in food security and in adapting to the effects of climate change, noting that the green bond will help fund climate adaptation efforts in sustainable agriculture. He said that with the impacts of climate change becoming more evident, investment in measures that strengthen the resilience of agricultural production is important for the country's future.
Sustainable Finance Targets
Akten also referenced the bank's broader sustainable finance commitments, noting that Garanti BBVA had raised its target for the 2018–2029 period to TRY 3.5 trillion. The bank had already reached approximately TRY 1.3 trillion of that target by the end of the first quarter of 2026. He said the bank intends to keep developing new sustainable funding sources while supporting agricultural transformation and natural resource protection.
Broader Role in Türkiye's Low-Carbon Transition
By directing green bond proceeds into agriculture, Garanti BBVA is financing investment projects intended to help producers adapt to climate change impacts. The bank said it will continue supporting projects tied to renewable energy, energy efficiency, the circular economy, sustainable agriculture, and social impact as part of its sustainable finance commitments and its role in Türkiye's shift toward a low-carbon, resilient, and inclusive economy.
