Garanti BBVA holds its latest sustainable export meeting in Adana
Garanti BBVA recently held its fifth ‘Sustainable Future in Exports’ meeting in Adana, Türkiye, a hub for Turkish exports. The bank is organizing the series of meetings to encourage foreign investment in the country and boost Türkiye’s export sector in the framework of the European Green Deal. The event brought together renowned leaders and experts in the field who offered their economic analysis and insights on possible sustainable solutions.
Garanti BBVA CEO Recep Baştuğ stressed the importance of taking collective action to fight climate change. He recalled that the bank has been taking numerous steps to combat the climate crisis for over 18 years. Specifically, BBVA set a goal of channelling €300 billion in sustainable financing between 2018 and 2025, and established targets to reduce the emissions in carbon-intensive sectors.
The CEO also pointed to the European Green Deal as a helpful roadmap in this regard. The Carbon Border Adjustment Mechanism (CBAM), he noted, will take effect on January 1, 2026, greatly altering the way trade takes place. Furthermore, various EU standards will require a change in production methods. “This means that the importance of producing goods that are durable, recyclable, and have a low carbon footprint is increasing. Unfortunately, exporters who do not comply with these specified criteria will fall behind in the competition. We need to be prepared now,” Recep Baştuğ emphasized.
The bank has therefore made it a priority to support Turkish companies in their transition to a low-carbon economy by facilitating sustainable investments. Fortunately, the CEO explained that the normalization of economic policy, market-based reforms and efforts to combat inflation have led to greater predictability and broader support among all stakeholders. As a result, foreign investors have been showing more interest in Turkish assets, with an inflow of $20 billion.