Türkiye

The Ministry of Treasury and Finance issues its first green bond of 2.5 billion USD

BDDK establishes the Green Asset Ratio Sub-Working Group to the Sustainable Banking Working Group to create a green asset ratio criteria set and methodology for the Turkish Banking Sector

BDDK publishes the Possible Effects of the European Union’s Carbon Border Adjustment Mechanism on the Turkish Banking Sector Credit Portfolio Impact Study to evaluate the potential impacts of the first phase of the CBAM on five Turkish banking sector's credit portfolio (cement, electricity, fertilizer, iron-steel and aluminum)

BDDK publishes the pilot study on Climate Related Physical Risks - Antalya Province 2010-2019 Case Study to analyze the level of exposure of the loans extended to customers in the agriculture, tourism, energy and manufacturing sectors

CMB issues the Guidelines on Green Debt Instruments, Sustainable Debt Instruments, Green Lease Certificates and Sustainable Lease Certificates

BAT updates the Sustainability Guidelines for the Banking Sector to include climate change and financial inclusion

BDDK publishes the Sustainable Banking Strategic Plan 2022-2025 to set forth the general strategy and policies required to build the Turkish sustainable banking infrastructure

Green Economy and Climate Change Directorate is established within the Central Bank of the Republic of Türkiye (CBRT)

Presidency of Strategy and Budget, Ministry of Treasury and Finance unveils the Economic Reform Action Plan, which defines the promotion of green finance activity as a key goal

The Ministry of Trade publishes the Green Deal Action Plan, which foresees a roadmap for the development of sustainable finance

BDDK publishes the Guidance on Loan Origination and Monitoring Processes which also sets out the expectations for banks regarding ESG factors and associated risks, and environmentally sustainable lending

BDDK and CBRT join NGFS

Green Finance Working Group is established by the Ministry of Trade, which includes BDDK, the Ministry of Treasury and Finance, the Central Bank and the Capital Markets Board

Capital Markets Board (CMB) issues the Sustainability Principles Compliance Framework

Approximately 13 percent of outstanding cash loans have gone through an environmental and social risk assessment process

4 banks (21 percent of the sector) have reporting aligned to TCFD standards

10 banks (50 percent of the sector) have undertaken environmental/climate risk-related scenario analysis and/or stress testing

15 banks (70 percent of the sector) report on overall climate risks and/or approach to manage climate risk

26 banks (accounting for 87 percent of the total assets in the Turkish banking sector) have established an internal sustainability environmental, social, and governance (ESG) strategy or policy adopted by the board of directors

BDDK prepares the Turkish Banking Sector Sustainability Survey and Sustainability Report

Banking Regulation and Supervision Agency (BDDK) joins SBFN

Banks Association of Turkey (BAT) issues Sustainability Guidelines for the Banking Sector

Borsa Istanbul (BIST) begins calculating and publishing the "Sustainability Index"