İşbank issues blue bonds in international markets

İşbank issued its first blue bond in international markets. The 5-year bond totalled USD 50 million.

The funds raised by İşbank from the blue bond issuance focusing on 'Life Below Water' from the United Nations Sustainable Development Goals, will be directed to the financing needs under the themes of 'Protection of Terrestrial and Aquatic Biodiversity' and 'Sustainable Water, Wastewater Management and Adaptation to Climate Change' in the Bank's Sustainable Finance Framework.

Ebru Özşuca, Deputy Chief Executive and Sustainability Leader of İşbank, stated that they took pride in blazing yet another innovative action in the field of sustainable finance. Özşuca pointed out that the Bank's sustainability approach constituted the cornerstone of its long-term value creation strategy and way of doing business, emphasizing that environmental and social impact was an integral part of financing.

Özşuca stated that they considered it a primary responsibility to develop innovative products and solutions that will contribute to the sustainable development of our country. "Today, the marine ecosystem is particularly critical in combating climate change. We have long been supporting efforts to protect our seas in our country, which is surrounded by seas on three sides. We have delivered various projects ranging from contributing to scientific marine studies with our country's first unmanned underwater glider to protecting seagrass, which is dubbed the lungs of the seas, and sea corals, which are home to numerous sea creatures. Thanks to our blue bond issuance, we are pleased to strengthen our cooperation with international investors in this field while supporting the protection of our seas and water resources and increasing biodiversity."

Matt Lawton, Head of Impact Investing at T Rowe Price, one of the bond's investors, commented on the issuance. "We are pleased to support İşbank's inaugural blue bond issuance, which channels financing towards projects that protect marine ecosystems and promote sustainable coastal economies. Our investment reflects our ongoing commitment to mobilizing capital for environmental stewardship while generating long-term value for our clients. We believe this transaction exemplifies how financial innovation can drive meaningful impact for the blue economy."

"Blue bonds are an important tool for mobilising capital towards the protection of both aquatic and terrestrial ecosystems," said Kris Atkinson, Portfolio Manager at Fidelity Blue Transition Bond Fund, another investor in the bond. “This investment reflects our conviction that fixed income can play a meaningful role in addressing issues around marine and freshwater conservation." ​