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With Investments Supported by TSKB, Turkey's Annual Carbon Emission Decreases by 12 Million Tons
15 May 2018Turkish Industrial Development Bank (TSKB) plays an important role in reducing Türkiye's carbon emissions with its financing models aimed at combating climate change. The bank contributes to the reduction of Türkiye's annual carbon dioxide emissions by 12 million tons with the innovative solutions it offers for the transition to a low-carbon economy.
Making a statement on the occasion of World Environment Day, TSKB General Manager Suat İnce said, "The United Nations, which aims to raise awareness all over the world in order to leave a more livable world to future generations, declared June 5 as World Environment Day with the decision taken in 1972. Since then, important steps have been taken on sustainability, collaborations have been realized, sustainability has ceased to be a niche concept and turned into an important element of business models. As TSKB, I can say with peace of mind that we have been involved in this transformation since the first day. International development finance." With our close cooperation with organizations, we had the opportunity to capture the spirit of the times very early.
We have achieved many innovations and firsts in the field of sustainability. To date, we have provided $4.9 billion in loans for renewable energy projects alone. Likewise, we created resources for 299 renewable energy projects with a power of 5,617 MW, which constitutes 15 percent of Turkey's installed renewable energy power. In the field of energy and resource efficiency, we provided 900 million dollars of financing to 131 projects. As a result of these studies, we are very proud to have contributed to the reduction of our country's annual carbon emissions by 12 million tons.”
“The financial sector is the biggest supporter of sustainable transformation”
Stating that the impact of the finance sector in the field of sustainability goes far beyond just keeping its own environmental impacts under control, İnce said that the sector provides resources for the sustainable transformation of many different industries with the funds it provides. İnce said, "In this field, we support projects in areas such as renewable energy, energy and resource efficiency, environmental investments, sustainable tourism. On the social side, we have themes of women's employment and occupational health and safety. R&D and innovation are also important areas we focus on from a sustainability perspective." he said.
“We believe in the power of collaboration for the success of sustainable business models”
Stating that they develop innovative products in addition to the funds they receive from development finance institutions as a financing source, İnce said, “Developing sustainable financing tools is a very strong muscle of ours. In the last two years, we have issued both the world's first Subordinated Sustainable Bond and Türkiye's first Sustainable/Green Bond. We continue to support sustainability investments in our country with such innovative financing tools.” "We will continue," he said.
"Our priority in social responsibility is sustainability and the environment"
Stating that their focus on sustainability is also reflected in the field of corporate social responsibility, İnce said, "We carry out social responsibility projects to raise awareness on climate change, transition to a low-carbon economy, and equality of opportunity. Our digital platform www.cevreciyiz.com, where we focus on raising awareness especially about sustainability and the environment, has left 10 years behind. At www.cevreciyiz.com, we inspire our followers for a better future." When it comes to awareness, carbon footprint is a concept we attach great importance to. We also erase the carbon footprint of the İKSV Istanbul Music Festival concert that we sponsor. We have recently increased our work on equal opportunity, which is an important dimension of sustainability, with the university scholarship fund from Education to Production, which we launched in 2017. "The Women Stars of Tomorrow, which we recently launched, is a unique project where we combine education with art. We support the advancement of the careers of highly talented young female musicians in the international arena in the branches of instrument, singing and conducting, through the Women Stars of Tomorrow scholarship fund that we developed together with the Istanbul Foundation for Culture and Arts (İKSV). This week, we celebrated the success of our scholarship holders together at the concert they performed at the Istanbul Music Festival."
“Effective auditing and reporting is an important criterion for sustainability”
Reminding that the transparent approach regarding financed projects and internal environmental impacts is appreciated by both society and investors, Suat İnce said, “We monitor the effects arising from consumption in our buildings with ISO 14001 and ISO 14064 systems. In this context, we have made significant savings in many consumption items such as electricity, water, natural gas and paper since 2005. In addition, we use 100 percent renewable energy in our office buildings and conduct carbon-neutral banking by zeroing the carbon footprint resulting from our activities. We also attach importance to goal setting and reporting in the management of environmental impacts. We published the first GRI-approved sustainability report of the finance sector in 2017. We transparently share our performance on both the projects we finance and our internal environmental impacts. We believe that this reporting approach, which includes
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