İşbank is the first bank to announce 2030 emission reduction targets for all carbon-intensive sectors.

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As a leading financial institution in Türkiye's transition to a carbon-neutral and circular economy, İşbank has taken another step forward by announcing its 2030 reduction targets for all carbon-intensive sectors as defined by the Net-Zero Banking Alliance.

İşbank continues to set benchmarks in its journey towards net-zero emissions through its decarbonization efforts. While İşbank finalized emission calculations for its entire loan portfolio in line with international standards, the Bank detailed its efforts with customer-based analyses and sectoral assessments in carbon-intensive sectors. The Bank consequently has set 2030 emission reduction targets for all sectors defined as carbon-intensive by the Net-Zero Banking Alliance.

Sectoral emission reduction targets and actions in the combat against climate change

Following the announcement of its emission reduction targets for cement, iron and steel, and power generation sectors in 2023, the Bank has now finalised its efforts by including all carbon-intensive sectors: aluminum, real estate, road freight transport, oil and gas, and agriculture. Compared to base year (2023), these targets aim to reduce emission intensities by 7% in aluminum, 36% in real estate, 20% in road freight transport and 15% in oil and gas by 2030.

Agriculture plays a critical role in ensuring food security and driving sustainable development, therefore İşbank took a pioneering step by establishing sector-specific emission reduction targets for agriculture. The Bank is differentiating these targets within its agricultural portfolio, studying the agricultural production in the arable lands of Türkiye and the specific characteristics of its clients. Considering the varying environmental impacts of different crops, the Bank aims to reduce emission intensity by 14% in wheat production, 15% in maize production and 16% in rice production. Leveraging its expertise in agricultural banking, İşbank raised the bar by developing three different roadmaps with product-specific targets, tailored to the needs of farmers. This initiative reaffirms İşbank's commitment to support sustainable agricultural practices.

“Our decarbonization strategy is leading the green transformation of the economy."

İşbank CEO Hakan Aran indicated that İşbank has expanded emission reduction targets announced in 2023 to cover all sectors and said: “This year, as we are celebrating our centennial anniversary, we have set science-based targets across all carbon-intensive sectors to lead Turkey's sustainable transformation. The scope now cover approximately 65% of our total financed emissions. In developing our decarbonization pathways, we have focused not only on global climate scenarios but also on sectoral dynamics of Türkiye and our clients' needs as they embark on their own green transitions. As a result, we have developed actionable, data-driven plans aligned with Türkiye's conditions and embrace its potential. In this context, we are proud to be the first Turkish bank to set emission targets for all sectors defined as carbon-intensive by the Net-Zero Banking Alliance."

Emphasizing the great importance of every step taken today for a better future and every effort made to support the environment and green transformation, Hakan Aran said: “With the responsibility of the pioneering role we have long held and the understanding that much work lies ahead as we begin our second century, I firmly believe that we will build a sustainable future through collaboration, innovation and common purpose."​​