Banca Transilvania receives Most GHG Mitigated recognition from IFC

BT has received Most GHG Mitigated recognition in Central Europe for its contribution to reducing the impact of greenhouse gas emissions by providing green finance to companies in Romania.

The Climate Reporting Awards are given by the International Finance Corporation (IFC) to performers in the use of the Climate Assessment for Financial Institutions (CAFI) tool to report on climate investments and commitments in emerging markets.

Banca Transilvania uses CAFI from 2021. To date, the impact of the bank's green financing has been:

• USD 920 million - Total value of projects in which BT participated as a lender, of which approximately USD 444 million were environmental investments.
• 909 tCO2/year - Equivalent to the greenhouse gas emissions that have been avoided through BT's green financing. By way of comparison, these could be the total emissions of a petrol car that ran approximately 3.7 million kilometres.

The main projects financed by Banca Transilvania were in the following areas:

• Renewable Energy - Projects focused on electricity generation from renewable sources such as solar, wind, hydro, geothermal.
• Energy efficiency - Projects to replace old equipment with more energy efficient alternatives.
• Recycling and resource reuse - Waste recycling projects that recover or reuse materials and waste as resources for new products.

The partnership between IFC and Banca Transilvania started in 2004 resulting in 13 investment projects and 3 advisory projects.