Türkiye’s Board of Advertisement Takes Action Against Misleading Environmental Claims in Banking Sector Advertisements

Türkiye’s Board of Advertisement Takes Action Against Misleading Environmental Claims in Banking Sector Advertisements!

During its meeting on January 16, 2025, Türkiye’s Board of Advertisement, the primary public enforcement body combatting unfair commercial practices, decided to suspend advertisements containing misleading environmental claims by 10 banks operating in the country.

In recent months, the Board initiated an investigation into whether environmental claims used in banking and finance sector advertisements were misleading consumers. As part of this investigation, promotional content from 33 banks was examined online, and misleading environmental claims were identified in advertisements published on the websites, social media accounts, and/or video-sharing platforms of 10 banks.

These advertisements primarily included environmental claims regarding specific loan types, such as “green home loans” for energy-certified residences and “green vehicle loans” for electric and hybrid vehicles. Additionally, environmental claims were made for specific financial products, such as credit cards marketed with phrases like “A card that cares for both you and nature.”

The Board ruled to suspend these advertisements based on several infringements of the Act on Consumer Protection No. 6502:

• Loan advertisements used terms such as “discounted,” “advantageous,” “affordable,” and “attractive” interest rates without adequately informing consumers, in contradiction to national regulations requiring key aspects of the main promise to be clearly stated in the advertisement’s core message.

• Generic expressions like “eco-friendly” were used without explanation, violating the Guidelines on Advertisements Containing Environmental Claims published on December 13, 2022.

• Specific products were portrayed as more environmentally beneficial than they actually are, creating a misleading impression.

• Consumers' environmental concerns were exploited through deceptive marketing tactics, leading to misinformation.

To prevent the exploitation of consumer sensitivity toward environmental issues through greenwashing, the Board continues to conduct regular inspections.