For VakıfBank, for all projects planned to be financed, Environmental Impact Assessment (EIA) Reports are prerequisites, which are prepared to determine the positive and negative impacts to the environment of the projects and to determine the measures to be taken to prevent its negative impacts or minimize them so as not to harm the environment The financing process is initiated after the “EIA Positive” or “EIA Not Required” decision.
Also when necessary, regardless of the sector, counseling services are obtained from professional companies which carry out environmental and social impact assessments. If deemed necessary, the facts in the counseling reports are included within the credit agreements as the commitments made by the project firms. For following up the projects throughout either investment or operating periods, these environmental and social impact assessments and related commitments are reviewed.
VakıfBank continues to work on improving its corporate policy regarding financing renewable energy and energy efficiency investments and sustainable projects with minimum negative impact on the environment. Accordingly, as required by its credit policy, VakıfBank gives priority to financing eco-friendly projects which ensure energy efficiency by renewable energy investments and comply with the principle of sustainability.