Garanti BBVA, the Turkish unit of Spain’s BBVA, has partnered with Ivy Decarb Marketplace to accelerate decarbonization in Turkey’s textile sector. The initiative will provide manufacturers with digital access to financing for cleaner, more efficient machinery, helping the industry align with global sustainability standards.
Financing Cleaner Production
Through the partnership, Garanti BBVA will extend equipment loans directly via the Ivy Decarb platform, enabling textile companies to upgrade aging machinery and reduce emissions. Both existing and new customers can apply for financing digitally, with online account opening available for those not yet banking with Garanti BBVA.
“Sustainability is no longer an environmental issue: it is business itself,” said Mahmut Akten, CEO of Garanti BBVA, stressing that Turkish textile manufacturers must decarbonize to remain competitive in global markets.
Garanti BBVA has already delivered on its 400 billion lira sustainable financing target ahead of schedule and has pledged 3.5 trillion lira ($102 billion) through 2029. At group level, BBVA raised its sustainable business goal to €700 billion for 2025–2029, more than double its previous target.
Industry Support and Collaboration
The partnership was unveiled at an event in Istanbul co-hosted by Garanti BBVA and Ivy Decarb, attended by Turkish textile executives, European brands, and key trade associations including TEMSAD, İHKİB, İTHİB, and TİM.
Javier Bernal, CEO of Ivy Decarb, highlighted the urgency:
“Turkish textile makers must modernize to meet global brands’ environmental standards. This creates an opportunity to boost both productivity and sustainability.”
Technology Meets Finance
Ivy Decarb connects manufacturers with lenders and equipment suppliers, helping companies choose investments based on returns, efficiency, and emissions reduction impact. Through the partnership, textile companies can also track their carbon savings digitally, while faster loan approvals streamline adoption of sustainable technologies.
By combining Garanti BBVA’s financial strength with Ivy Decarb’s platform, the initiative positions Turkey’s textile industry to meet international climate expectations while enhancing competitiveness and long-term resilience.
