GCPF Partners with DenizBank to Promote Climate Finance Lending in Türkiye

Zurich/Istanbul, 26 March 2025 – The Global Climate Partnership Fund (GCPF), managed by Swiss impact asset manager responsAbility, has entered into a strategic partnership with DenizBank to promote green lending in Türkiye.

Through the provision of a USD 25 million long-term senior debt facility, the collaboration entails financing DenizBank’s SME and corporate borrowers with the aim to promote energy efficiency technologies and renewable energy investments across the bank’s strategic lending areas.

Scaling sustainable banking practices

DenizBank, established in 1997, is one of Türkiye’s leading private banks, serving nearly 19 million customers. Since its establishment, the bank has strategically focused on high-impact sectors such as agriculture, small and medium-sized enterprises, and renewable energy, aligning its operations with Türkiye’s development pillars. A key aspect of the partnership is the provision of a long-term credit facility, which allows DenizBank to promote green investments for its borrowers. Secondly, beyond the funding, GCPF will deploy advisory support via Technical Assistance and expertise to further scale DenizBank’s sustainability initiatives.

Ana Akubardia, Climate Finance Investment Officer at responsAbility Investments AG, said: “Türkiye offers substantial climate finance potential, reflecting its strategic location as a bridge between Europe and Asia, its export-oriented economy, ample renewable energy resources, and advanced climate policies. As a key enabler in mobilizing and channelling capital flows, the Turkish banking sector plays a crucial role in financing the green transition. We’re excited to partner with DenizBank in supporting their mission to deliver long-term, climate-focused financing solutions, enabling the bank’s end borrowers to accelerate their sustainability efforts and achieve operational efficiencies.”

Beril Oğuz, DenizBank Financial Institutions and Sustainability Coordination Group Executive Vice President, said: “Recognizing the critical role of the financial sector in the green transition, we integrate sustainability into our core banking activities, particularly through financial solutions that support Türkiye’s transition to a low-carbon economy. In this context, we continue our efforts to provide financial support and contribute to unlocking our country’s renewable energy potential. We are also committed to minimize the environmental impact of the hard-to-abate sectors through climate mitigation projects. We are pleased to join forces with GCPF to support our customers in their decarbonization journey towards net-zero.”

About the Global Climate Partnership Fund (GCPF)

The Global Climate Partnership was established by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), KfW Entwicklungsbank and the International Finance Corporation (IFC) in 2009 as a public-private partnership. Junior catalytic capital is provided by BMU, the department for Business, Energy and Industrial Strategy (BEIS) of the UK, Denmark’s development cooperation (Danida). Other private and public investors include ASN Bank, Ärzteversorgung Westfalen-Lippe, FMO, OeEB, Sparkasse Bremen, the European Investment Bank (EIB) and Heilsarmee.

About responsAbility Investments AG

responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes. These themes directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population. All responsAbility investment solutions target specific measurable impact alongside market returns.

Since its inception in 2003, responsAbility has deployed over USD 16.3 billion in impact investments. With over 270 employees collaborating across 7 offices, as of 31 December 2024 the company manages USD 5.4 billion in assets across approximately 300 portfolio companies in around 70 countries. Since 2022, responsAbility has been part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.

About DenizBank

Established in 1997, DenizBank aims to contribute to Türkiye’s economic and social development by making efficient and rational use of financial resources and works with a focus on creating benefits for its country, shareholders, employees and customers. On July 31, 2019, the Bank’s shares were transferred to Emirates NBD, the leading banking group in the MENAT region. As Türkiye’s fifth-largest private bank, recognized for its innovative approach to climate finance and sustainability, DenizBank offers a wide range of banking services to individuals, SMEs, and corporate clients.