DenizBank Expanded the Scope of Sustainable Financing: Transition Financing Framework

DenizBank, together with its main shareholder Emirates NBD, has published the Transition Finance Framework to expand the scope of sustainable financing and support the transformation of emission-intensive sectors. Transition Financing Framework, published as a separate guidance document for the first time in Turkey; It introduces a systematic methodology for identifying, evaluating and classifying activities that contribute to the decarbonization of high-emission sectors.

DenizBank General Manager Recep Baştuğ, in his evaluation on the subject, said: "The transition to a low-carbon economy is not only a climate target today; it is a determining factor on the growth models and competitiveness of countries. In our country, especially with the beginning of the financial obligations of the EU Border Carbon Regulation Mechanism, the need for transformation has become more critical for our exporting sectors. Our role and aim at this point is to stand by the companies in the transformation process as a long-term financing partner. With our Transition Financing Framework, which we have implemented together with our main shareholder, especially "We offer an approach that allows companies in sectors with difficult green transformation to finance their own concrete transformation targets. In the coming period, we will continue to provide solutions to the long-term financing needs of the real sector for a fair and inclusive transition to a low-carbon economy."

ABOUT THE TRANSITION FINANCE FRAMEWORK

The Transition Financing Framework aims to support the decarbonization of companies operating in carbon-intensive and difficult-to-reduce emission sectors, especially production, iron and steel, cement, mining, real estate, transportation and agriculture, in line with transition paths compatible with the Paris Agreement targets. Prepared by taking into account the ICMA Climate Transition Finance Handbook and the Climate Transition Bond Guide, as well as international guides published by the Credit Market Association (LMA), Asia Pacific Credit Market Association (APLMA) and Loan Syndications and Trading Association (LSTA), the Framework's compliance with international standards is supported by the Second Party Opinion provided by the independent external evaluator DNV.