Net-zero banking commitment from İşbank

İşbank has strenghtened its commitment to supporting the transition to a net-zero economy by joining another international initiative in line with its sustainability vision.

İşbank has joined the industry-led, UN-convened Net-Zero Banking Alliance (NZBA) which brings together banks worldwide committed to aligning their portfolios with net-zero emissions by 2050 in line with the most ambitious targets set by the Paris Climate Agreement.

The Net-Zero Banking Alliance, which was launched in April last year with the participation of 43 founding members, currently represents almost 40% of global banking assets with over 100 members from 40 countries. The Alliance is a critical step in the mobilisation of the financial sector for the climate.

Alliance members commit to:

- Align their portfolios with net-zero emissions by 2050 or sooner
- Set scenario-based interim targets for 2030 or sooner for priority sectors
- Prioritise areas of most significant impact, i.e. the most greenhouse gas-intensive and emitting sectors
- Annually publish emissions and emissions intensity
- Take into account the best available scientific knowledge
- Set first target(s) within 18 months of signing and disclose progress against a board-level reviewed transition strategy within a year of setting targets

Also a signatory of the Principles of Responsible Banking and Women's Empowerment Principles.

İşbank became a signatory of Principles for Responsible Banking (PRB) launched by the United Nations Environment Program Finance Initiative and Women's Empowerment Principles (WEPs) in 2020.

The Principles for Responsible Banking provides a comprehensive framework that considers sustainability at all levels and in all areas of activity, including strategy, portfolio and operations for the banking sector.

WEPs, established by United Nations Gender Equality and Women's Empowerment Unit (UN Women) and UN Global Compact of which  İşbank has been a signatory since 2012, aims to promote the private sector's efforts towards gender equality, encourages the development of policies and programs to ensure that women are increasingly involved in business life in all sectors and at all levels.