On June 5th, World Environment Day, Türk Ekonomi Bank (TEB), BNP Paribas’ strategic partner in Turkey, was proud to sponsor the gala of the Istanbul premiere of “Home” , the film by Luc Besson and Yann Arthus-Bertrand which was released simultaneously in 90 countries on the 5 June, World Environment Day. On this occasion, TEB officially launched its Green Banking Initiative: Fifty million euros are to be loaned for environment-related investments.

Assuming a pioneering role in individual and commercial banking with its innovative products and services, the Türk Ekonomi Bank (TEB) has developed new banking products for individuals and businesses concerned about environmental pollution, energy saving, and global warming.

TEB General Manager Varol Civil reported that the loans would be given to businesses that would invest in “Energy Saving and Renewable Energy. He added “I’m sure we will be contributing to both the economy of our country and the protection of the environment with this 50-million-euro loan we’re acquiring in order to support investments in energy efficiency and renewable energy.”

TEB has further reinforced its commitment to the environment. The bank has started out to become an effective part of the solution to environmental problems together with its staff and customers by launching the TEB’s environmental program “There Is Hope”.

TEB’s Assistant General Manager in charge of Individual Banking Cemal Kişmir explained that TEB planned to reduce its power consumption by 10%, paper consumption by 25%, water consumption by 10%, and carbon footprint by 5% in 2009.

TEB’s environmentalist approach had been certified ISO 14001, thus becoming the first depository bank to receive this environmental certification in Turkey.

TEB General Manager Varol Civil remarked in the press conference: “It gives us fresh hope for the future that countries have committed to cutting down their carbon emissions in accordance with the Kyoto Protocol to which Turkey is a party, that the non-governmental organizations have managed to draw public attention to environmental issues through their voluntary efforts, and that businesses have begun to consider dealing with environmental problems as a part of their everyday operations.”