İşbank shares
progress results on decarbonization performance across all carbon-intensi.ve
sectors within the scope of emission reduction targets.
İşbank continues to advance its science-based decarbonization process, which was launched in 2023 and expanded in scope as of 2024, by further strengthening it through an annual measurement and monitoring approach. After initially publicly disclosing its emission reduction targets for three carbon-intensive sectors, the Bank expanded the scope of its targets in 2024 to cover all carbon-intensive sectors. In parallel, it calculated annual financed emissions for the sectors in which targets were first established and disclosed the progress achieved against these targets. Accordingly, İşbank continues to regularly measure decarbonization performance across all carbon-intensive sectors and to monitor progress outcomes within a holistic framework.
In 2020, İşbank took a sector-leading decision by announcing that it would no longer allocate financing to new thermal power plant investments based on coal and natural gas for electricity generation. In 2021, the Bank further expanded this policy by declaring that it would not provide financing for new coal mining investments. In 2023, İşbank publicly announced its commitment to a gradual phase-out of coal and coal-related activities by 2040, and disclosed its interim emission intensity reduction targets for the cement, iron and steel, and power generation sectors.
Building on this framework, in 2024 İşbank expanded the scope of its emission reduction targets to include the aluminum, real estate, road freight transportation, oil and gas, and agriculture sectors (wheat, maize and rice), thereby establishing science-based targets across all carbon-intensive sectors. As in previous periods, the Bank calculated financed emission intensities in these sectors in accordance with the methodology of the Partnership for Carbon Accounting Financials (PCAF). By developing decarbonization roadmaps aligned with local and international standards, İşbank defined the actions to be taken in the transition process with a strong focus on the specific needs of its clients.
Implementing its decarbonization roadmap through a phased and structured approach, İşbank transparently and consistently monitors progress across all carbon-intensive sectors in line with its defined emission reduction targets. Positioning the annual measurement of emission reduction performance and the monitoring of alignment with its targets as a core element of its sustainability strategy, the Bank remains firmly committed to being a strong business partner for its clients, creating long-term value throughout their green transition journey and contributing to a sustainable future.