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CDP, THE WORLD'S LARGEST ENVIRONMENTAL REPORTING PLATFORM, ANNOUNCED CLIMATE CHANGE & WATER PROGRAM 2021 Türkiye RESULTS AND LEADING COMPANIES
11 Mar 202297% OF COMPANIES REPORTING IN TURKEY PREDICT RISKS DUE TO CLIMATE CHANGE
The 2021 Turkey results and leading companies of CDP, where Sabancı University Corporate Governance Forum has undertaken Turkey activities since 2010, were announced to the public at the "CDP Turkey 12th Climate Change Virtual Conference and Award Ceremony" held on April 19.
Among the 117 countries within the scope of CDP, Turkey is among the 20 most transparent countries where companies make the most comprehensive statements about climate change and water security, while 3 companies from Turkey entered the CDP Global Water A list this year.
CDP, the world's largest environmental reporting platform, whose Turkey activities are undertaken by Sabancı University Corporate Governance Forum, held the CDP Turkey 12th Climate Change Virtual Conference and Award Ceremony on Tuesday, April 19, 2022. At the conference, of which Garanti BBVA was the main sponsor, CDP Climate Change & Water Program 2021 Türkiye Results and CDP Leaders were announced.
COP25 Climate Champion Gonzalo Muñoz Abogabir, the main speaker of the conference, stated that the private sector increasingly understands that the cost of not taking action on climate change is much higher than taking action, and said: "I know that companies disclosing environmental data in Türkiye have made significant progress in the Supplier Engagement Rating this year, which shows that we are actually on the path we need to be on to solve the climate crisis. Companies should not only evaluate their own environmental impacts, “We need to make more room for energy transition, electric vehicle technology, sustainable cities, green hydrogen and ammonia, smart agriculture, public and private partnerships and circular economy. By learning, improving, disclosing environmental data after a voluntary commitment, adapting to the power of money and moving from voluntary commitment to regulated commitments. This is a crucial moment for the private sector to accelerate the cycle of ambition.”
THE MOST COMMONLY REPORTED TYPE OF RISK IS REGULATION-RELATED
Sharing the results of the CDP Climate Change & Water Program 2021 Turkey Report, Sabancı University Corporate Governance Forum CDP Turkey Projects Manager İdil Zeynep Dağdemir stated that the number of companies responding to the CDP Climate Change Program and Water Program in Turkey continued to increase in 2021 and said:
"The oversight of climate-related issues at the board level in companies is increasing year by year. While the companies that put climate-related issues on the agenda at every board meeting were 18 companies with a rate of 33% last year, this year it increased to 34 with a rate of 53%. The rate of risks related to climate change that directly affects company activities is increasing every year. In 2021, 97% of the companies reporting in Turkey identified risks related to climate change. Almost all companies are now aware of the risks posed by climate change and are developing various precautionary mechanisms. Where the business world is coming At this point, the full participation of corporate management on the climate crisis has created a new business normal. The most commonly reported risk type by companies is related to regulations and regulations (77%). Regulations were also the most reported risk type by 65% of companies last year. This significant increase from 65 percent to 77 percent can be attributed to the government's climate-related policy remaining unclear until the Paris Agreement was approved by the Turkish Grand National Assembly in October 2021. Identifying the opportunities arising from the transition to a low-carbon economy is at least as important as the risks. The overwhelming majority of companies now set emission reduction targets, 91%. The proportion of companies providing detailed information about their emission intensity targets and disclosing progress in these targets increased from 11% to 23%.
On the water-related risk assessment of companies, İdil Zeynep Dağdemir said, "Although 98% of the companies reporting in Türkiye reported that they made water-related risk assessments, only 27% of the companies reported that water had harmful effects on their operations. The fact that this figure is so low shows that companies cannot address all aspects of water safety in their risk assessments."
Türkiye IS AMONG THE LEADING COUNTRIES IN TERMS OF REPORTING QUALITY
Evaluating the CDP Climate Change and Water Report 2021, CDP Türkiye Director Prof. Dr. Melsa Ararat said, "Among the 117 countries within the scope of CDP, Turkey is among the 20 most transparent countries where companies make the most comprehensive statements about climate change and water security. The rate of companies making statements on at least 80% of 24 indicators in their statements is 33%, and this puts Turkey in the third place among 20 countries, after Japan and Taiwan. This picture, which emerged with the joint efforts of the business world and CDP Turkey, is ready and ready for bolder public policies in the implementation of the Paris Agreement." "It shows that you are willing," he said.
Garanti BBVA Deputy General Manager Ebru Dildar Edin, who made the opening speech of the conference, said, "We are aware of the critical role of the finance sector in the green transformation journey, and as Garanti BBVA, we will continue to support this transformation with determination, regardless of the customer segment, both with our identity as a financing institution and our consultant role." Moreover, we have strengthened our commitment to these processes with the Garanti BBVA Climate Index, which is implemented by a bank with a sustainability focus for the first time in Turkey. With this index, which we have implemented in cooperation with CDP Turkey and Borsa Istanbul, which is carried out by Sabancı University Corporate Governance Forum, we aim to develop the sustainable finance market and encourage companies to increase their transparency on climate risks and opportunities. We believe that, thanks to this index, Turkey will be resilient to climate change, reduce its emissions in line with the targets predicted by science. As one of the first institutions that responded to the call for transparency made by CDP Turkey to the business world, which started its operations under the umbrella of Sabancı University Corporate Governance Forum, I would like to thank all companies that respond to CDP and demonstrate their transparency and determination in the fight against climate change; I congratulate our leading companies and hope that this positive impact will continue to grow in the coming years.”
Sabancı University Corporate Governance Forum Director Dr. In his speech at the closing of the conference, Ata Can Bertay pointed out that Turkey is one of the leading countries within the CDP in terms of reporting, and said that the clear climate change policies brought by the Paris Agreement will increase the number of companies reporting to the CDP in Turkey. Dr. Bertay recommended all companies in Turkey to report in the coming years and stated that they are ready to guide them together with Sabancı University KYF and CDP.
AWARD-WINNING COMPANIES ARE ANNOUNCED
The "End of Uncertainty in Public Policies and the New Business Normal" panel held within the scope of the conference was moderated by Kadir Has University Energy and Sustainable Development Application and Research Center Director Prof. Dr. Volkan Ş. While Ediger was making it, the participants of the panel included CDP Global Value Chains President and Regional Director Sonya Bhonsle, EBRD Climate Strategies General Manager Harry Boyd-Carpenter, Garanti BBVA Sustainable Finance Manager Seray İmer, TÜSİAD Energy, Environment and Climate Change Round Table President and Board Member Cevdet Alemdar.
A total of 11 companies from Turkey that received 'A-' points from the Climate Change and Water programs managed to be among the CDP Türkiye leaders. In 2020, 16 companies were in this category. Within the scope of the 'Supplier Relations Rating' (SER), CDP measures how much companies include their suppliers in the process of combating climate change. In Türkiye, 8 companies managed to become among the world leaders in the SER category by receiving A grade.
The companies that received awards within the scope of the event were announced. Within the scope of the water program, Eti Soda, Kordsa Teknik Tekstil and Tekfen Holding entered the CDP Global A list. In addition, Arçelik, Brisa Bridgestone, Kordsa Teknik Tekstil, Tekfen Holding and Eti Soda were among the Turkish Leaders in the CDP Climate Change program. In the CDP Water program, Aksa Akrilik Kimya, Arçelik and Aselsan, Brisa Bridgestone, Coca-Cola, Yapı ve Kredi Bankası were entitled to become Türkiye Leaders.
In the Supplier Relations Rating category, companies that are among the world leaders by receiving A grade are; These were Arçelik, Brisa Bridgestone, Coca-Cola, Ekol Logistics, Ekoten Tekstil, Eti Soda, Korsa Teknik Tekstil and Osmangazi Elektrik Dağıtım.
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