The Environment

The industrial revolution and advances in science and technology have fueled rapid growth around the world while increased production has multiplied people’s choices. In such a rapidly-developing world however, production processes and growing populations are depleting resources while irreversibly impaired ecosystems and climate change have reached levels that put everyone’s future at risk. In the last quarter of the 20th century, such issues as atmospheric ozone layer depletion, greenhouse effects, global warming, and climate change have entrenched themselves high on our agenda. Along with them came the realization that development has ecological and social dimensions as well as economic ones. Participants in the United Nations Conference on the Human Environment held in Stockholm in 1972 were introduced to the concept of “sustainable development”. In 1987 the United Nations World Commission on Environment and Development published Our Common Future, a report that defined sustainable development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. The foundations of sustainable banking were laid with the establishment of the United Nations Environment Programme Finance Initiative (UNEP FI), which was set up to provide guidelines for how banks should manage environmental risks. UNEP FI also prepared a standardized statement by which financial institutions set out the environmental, social, and corporate governance principles to which they have committed themselves when lending. This statement has so far been signed by more than 170 financial institutions: TSKB was the first one in Turkey to do so.

While supporting investment projects through financing models that aspire to combat climate change, TSKB also adheres to an approach that is mindful of environmental and social issues and seeks to minimize the sources of environmental and social impact. Every year the bank quantifies the environmental impact of its banking activities while also monitoring resource consumption and taking measures to reduce it. As Turkey’s first carbon-neutral bank, TSKB engages with its stakeholders through periodically published sustainability reports in which transparently reveals all of its environmental and social performance results. In keeping with its sense of social responsibility, TSKB also contributes to a variety of environment and sustainability awareness platforms while supporting both the transition to a low-carbon economy and efforts to improve production efficiency.

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INTERNAL ENVIRONMENTAL IMPACT

TSKB’s approach to environmental mindfulness extends beyond its financial products and services and embraces activities at its premises as well as the conduct of its business processes.

Since 2006, TSKB has been measuring the resource consumption caused by its activities, has been developing plans to improve its performance, and has been setting targets for itself to meet. As part of this effort, the amounts of electricity, water, fuel, and paper used and the amounts of waste generated in the conduct of the bank’s service functions are quantified on a regular basis.In the years since it embarked upon its environmental and sustainability management efforts in 2005, TSKB has reduced its:

  • Carbon footprint by 40%
  • Electricity consumption by 25%
  • Natural gas consumption by 32%
  • Use of paper by 27%
  • Use of water by 32%.

A detailed explanation of the external environmental impact of TSKB’s lending activities is provided in the “Sustainability Finance” section.

Türkiye Sınai Kalkınma BankasıTurkey’s comprehensive environmental portal cevreciyiz.com is supported by TSKB.