The Industrial Development Bank of Turkey (TSKB) plays an important role in the reduction of Turkey’s carbon emission with its financing models for the combat with climate change. The bank has contributed to a 12-million-ton decrease in Turkey’s yearly carbon-dioxide emission with innovative solutions in the transition to low carbon economy.

On the occasion of World Environment Day, the General Manager of TSKB Suat İnce said, “We have our signature on many innovations and firsts in the area of sustainability. So far we have provided a loan of $ 4.9 billion only for renewable energy projects. At the same time we created sources for 299 renewable energy projects of 5.617 MW making up 15% of Turkey’s installed renewable energy power. Also, we financed $ 900 million for 131 projects in the field of energy and resource efficiency. As a result of all these, we are proud to have contributed to a yearly 12-million-ton decrease in the carbon emission of our country.”

The Finance Sector Is The Greatest Supporter of Sustainable Conversion
İnce pointed out that the effect created by the finance sector in the area of sustainability goes far beyond controlling only their own environmental effects; and said that the sector provides resources with its funds for the sustainable conversion of various industries. İnce went on, “Developing sustainable financing tools is our strong point. In the last two years we have exported not only the world’s first Capital-like Sustainable Bond but also Turkey’s first Sustainable/Green Bond. We will continue to support the sustainability investments in our country with this type of innovative financing tools.”

Our Priority in Social Responsibility Is Sustainability And Environment
İnce also stated that their focus on sustainability has reflected on the corporate social responsibility area as well. He said, “We are carrying out social responsibility projects aimed at increasing awareness of climate change, transition to low carbon economy, opportunity equality. It has been 10 years now since we started our digital platform
where we focus on sustainability and environment specifically, and inspire our followers with contents for a better future. Speaking of awareness, carbon footprint is also a concept we give much importance to. We erase the footprint of all activities we organize. In addition, by erasing the carbon footprint of the İKSV İstanbul Music Festival concert, we have put our mark on Turkey’s first carbon-neutral concerts.

We have also increased our works on opportunity equality which has recently become an important dimension of sustainability. We are giving support to girls at university with our scholarship fund From Education to Production that we started in 2017 in collaboration with TEV (Turkish Education Foundation). We also have a recent original project, Woman Stars of Tomorrow, which brings together education and art. With the scholarship fund of this project that we have developed with İKSV, we are supporting young women musicians’ careers in the international arena in the fields of instruments, singing, and conducting. This week we celebrated their successful performance at the İstanbul Music Festival concert.”

Effective auditing and reporting is an important criterion for sustainability
Suat İnce also pointed out that a transparent approach on financed projects and internal environmental effects is much more appreciated by both the society and the investor. İnce said, “We are following the consumption-related effects in our buildings with the ISO 14001 and ISO 14064 systems. Since 2005 we have made considerable savings in consumption items like electricity, water, natural gas, paper. Also, we are using 100% renewable energy in our office buildings, and with zero carbon footprint we are performing carbon-neutral banking. On the management of environmental impacts, goal setting and reporting are among our priorities. In 2010 we had published the first GRI-approved (Global Reporting Initiative) sustainability report of the finance sector; and in 2017 we realized the first Integrated Report of the Turkish finance sector, through which we share our performance transparently on the projects we have financed as well as our internal environmental impacts. We believe that this reporting approach which covers our value creating model and our future goals makes a big difference on our sustainability journey.”