Akbank has issued Turkey's first Green Bond during the COVID-19 pandemic, amounting to USD 50 million, to support renewable energy projects and enhance its commitment to sustainability.
Target Information
Akbank, a leading financial institution in Turkey, has made significant strides in integrating sustainability into its operations. The bank recently made headlines by issuing the first Green Bond in the Turkish banking sector during the COVID-19 pandemic, totaling USD 50 million with a maturity of 4 years and 110 days. This initiative underscores Akbank's commitment to supporting renewable energy projects and advancing the country's transition to a low-carbon economy.
Under the leadership of CEO Hakan Binbaşgil, Akbank has emphasized the importance of sustainability, noting that its responsibilities extend beyond mere financial transactions. The issuance aligns with the principles of the International Capital Market Association (ICMA) and demonstrates the bank's dedication to sustainable finance.
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Industry Overview in Turkey
The Turkish banking sector has been witnessing a gradual shift towards sustainable finance, reflecting global trends where businesses are increasingly prioritizing environmental
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Transaction Size: $50M