LOADING

Type to search

Garanti BBVA Signs Agreement with Erguvan, Türkiye’s First Digital Carbon Credit Trading Platform

Garanti BBVA Signs Agreement with Erguvan, Türkiye’s First Digital Carbon Credit Trading Platform

Garanti BBVA has entered a strategic partnership with Erguvan, the country’s first and only digital carbon credit trading platform to accelerate compliance for its export clients and help them meet the target of cutting greenhouse gas emissions by at least 55% by 2030.

Garanti BBVA will offer a direct, transparent, secure and low- cost carbon credit supply tool to corporate customers who have difficulty accessing voluntary carbon markets. Thanks to the new system designed by Garanti BBVA, carbon credit procurement processes that previously took weeks will now be completed in a single business day.

Garanti BBVA’s Mahmut Akten said that through “this strategic partnership with Erguvan, our country’s sustainability-focused fintech initiative, we aim to help our customers manage and mitigate their climate risks in line with BBVA’s goals.”

Additionally, the bank will help carbon markets mature and speed up corporate customers–especially exporters’–compliance with the EU Green Deal and ‘Fit for 55’ targets to reduce greenhouse gas emissions by at least 55% by 2030 under the rules of the forthcoming Carbon Border Adjustment Mechanism (CBAM).

See related article: BBVA Ranked as Europe’s Most Sustainable Bank for the Third Year in a Row by S&P

Voluntary carbon markets will reach nearly $50 billion by 2030

Voluntary carbon markets have a complementary and critical role in achieving global emission reduction targets. Garanti BBVA’s main shareholder, BBVA, has a partnership with Carbonplace, which aims to make the voluntary carbon credit market efficient and reliable, thereby contributing to large-scale climate action.

Carbon markets play a key role in achieving corporate carbon neutrality in the context of the Paris Agreement 2030 and 2050 targets. “BBVA sees this market as a key building block and a great business opportunity that it can integrate into its sustainability strategy,” Akten added.

In offering direct access to the projects in Türkiye, which constitutes one of the largest supply markets in the global carbon market, “we will make a significant contribution to the scalability and supply reliability of Carbonplace,” he said.

Source: BBVA

Topics

Related Articles

Leave a Comment

Your email address will not be published. Required fields are marked *

LOADING

Type to search

Blog

blackrock
bbva
SEC
Sustainable Fashion Consumption - Will 5 New Fashion Pieces a Year Satisfy Your Needs?
Inspiring Women Leading The Fight Against Climate Change
Climate Vault Solutions
NatPower
Electric Vehicle
SHEIN
Accenture releases study on how businesses can play a part in achieving SDGs
Agriculture
Apex Group Boosts Regulatory Consulting Service with Enhanced Team
Logitech
renewables
USDA
rbc
IBM
SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for Investors
Berkshire's PacifiCorp Faces Billions in Oregon Wildfire Damages: A Turning Point for Climate Accountability?
BMW
SAPP
Schneider
Recycling
Fossil-Fuel
Kush Patel - Permira Climate Investments
H&M Group
Sustainable Fitch Appoints Marcy Block as Global Head of ESG Ratings
ESG Data
Unilever
Invesco exits Climate Action 100+, raising doubts about the future of the investor-led climate engagement initiative.
bitkom
Aldi
JLR
Codelco
UNDP
ISS ESG
Bain & Company
Currys
ABP
Natural Gas
apple
HIVE HYDROGEN
Tim Mohin - EU Reaches Peak Sustainability
How AI is changing the Sustainability and Circularity in Fashion industry
Standard Chartered has expanded the scope of their annual Fair Pay Report to cover broader commitment to diversity, equality and inclusion.
ExxonMobil
asda
Daniel Klier
BBVA
IEA
Green-Collar
wells fargo
schneider electric
human rights
Iberdrola
SBTi
Singapore
EPA
IAG
Jeff Currie
IBM
Formula 1
Ecosystems
at&t
Kering
S&P Dow Jones Indices introduces the S&P Biodiversity Indices, expanding its sustainability-focused benchmarking tools.
Green Bond
Deutsche Bank
Biden-Harris Administration Announces $366 Million to Accelerate Clean Energy Deployment in Rural Communities
Climate Finance
Prysmian
lululemon
Kurt Kelty
Tanzania
Australian Employer Gender Pay Gap Report Exposes Top Companies
Green Hydrogen
Waste-to-Energy
bca
Nokia announced that it has committed to reducing its total global greenhouse gas emissions (GHG) to net zero by 2040, accelerating its previous target by ten years,
Transport Fund
carbon capture
Stellantis
Cepsa
Carbon Tariff
Zalando
SEC Climate Rule by March?
Energy Transition
DHL Group and ICC to Share Sustainable Trade Insights at WTO Conference
FedEx
walmart
black cab
Greenomy
Green Transition
Air Quality
Study- Majority of UK pension providers have 'inadequate' climate action
SHEIN Advances Supply Chain Sustainability with $70 Million Supplier Empowerment Program
Raman Venkatesh
","session_id":"ep-sess-1761110479-7i9JnGPE","page_url":"https:\/\/esgnews.com\/garanti-bbva-signs-agreement-with-erguvan-turkiyes-first-digital-carbon-credit-trading-platform\/","post_id":"16289","tracking_enabled":"1","original_referrer":"","has_embedded_content":""}; /* ]]> */