QNB Türkiye CEO Ömür Tan, in his interview with Bloomberg HT at COP31, announced that they signed a five-year sustainable financing agreement with a total of 500 million dollars with five international development finance institutions. Tan said that the resource will be directed to areas such as energy transformation, increasing women's employment and supporting priority SMEs in the earthquake zone.
Stating that the loans provided by the organizations vary between 50 million dollars and 150 million dollars, Tan noted that each agreement has a different target. Tan described the agreement as one of the most comprehensive financings provided in Türkiye and stated that they plan to continue similar transactions in the coming period.
Tan said that QNB Türkiye has carried out many studies in the field of sustainable finance in the last four to five years. Stating that 35 percent of the bank's approximately 11 billion dollars of external resources, that is, more than 3.5 billion dollars, is within the scope of sustainable financing, Tan stated that an additional 500 million dollars will be added to this amount with the new agreement.
Tan stated that they are trying to direct the resources they have obtained through sustainable financing to sustainable areas and that the loans they have provided in this context are at the level of 5.8 billion dollars. Reminding Türkiye's 2053 net zero target, Tan said that they are trying to increase the share of sustainable financing and loans with different products in line with QNB Türkiye's net zero commitment for 2050.
Tan stated that the presence of 102 country leaders at COP31, which was attended by approximately 100 thousand people, was important in terms of high-level participation and commitments of the countries. He noted that it was reported that 75 country leaders attended the previous COP and 50 country leaders attended the previous conference.
Emphasizing that the main theme of COP31 is the implementation of commitments, Tan said that it is important for high-level participation and countries to stand behind their commitments. Tan stated that the summit will be talked about a lot in the coming period and that important results can be achieved if the issues discussed are put into practice.
Stating that electrification is one of the main agenda items of the summit, Tan said that the share of electricity in global energy consumption is currently at 22 to 23 percent and that this rate is being discussed to be increased to 35 percent in 2035. Tan noted that an important step would have been taken if the target was agreed upon and implemented at the end of the conference.
Stating that the European Union's Border Carbon Regulation Mechanism will gain more importance by 2027, Tan said that they directly discussed this issue with their customers in the programs organized in Anatolia. Tan emphasized that the transformation is important for the competitiveness of companies, as well as for its environmental impacts.
Tan stated that companies that cannot take the necessary steps in the fields of emission reduction, carbon transformation and sustainability will face the risk of losing their competitive advantage, and said that their customers are aware of this risk. Tan stated that the transformation created a significant need for financing and that is where the bank stepped in.
Tan stated that he thought energy independence was one of the topics agreed upon at COP31. Pointing out that oil prices have increased from 60 dollars to 100 dollars in the current geopolitical environment, Tan said that the economic sustainability of foreign dependence in energy has become difficult.
Emphasizing that countries, including Türkiye, should produce energy with their own resources, Tan stated that electrification comes to the fore in this process and that production with domestic resources is based on strong economic justifications. Saying that companies and many institutions are aware of this, Tan evaluated that the transformation will accelerate in the coming period and companies that cannot keep up with the transformation may be left out of competition.
Tan said that credit growth in the banking sector remained at certain levels due to regulatory limits. Stating that a significant portion of investment-incentivized, export-oriented or conversion-oriented loans are excluded from these limits, Tan stated that banks want to provide more such loans in terms of competition.
Tan stated that the repayment terms of these loans may be more advantageous and that companies should take advantage of this opportunity.
