05.01.2009

A First from Turkey's Environment-Friendly Bank TSKB: Clean Energy Fund

TSKB is introducing a first to Turkey with its 10% return guaranteed Type B Clean Energy Fund, which presents a new and profitable opportunity for the investors.

Initial public offering of the Clean Energy Fund will be made through book building method during 12-16 January 2009, benefiting both the investor and the environment.

In a period when the world of investment has increased its interest in renewable energy, energy efficiency and waste management Turkey’s first and largest private investment and development bank Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has commenced its public offering of the 10% return guaranteed Clean Energy Fund. TSKB’s Executive Vice President Şeniz Yarcan, responsible for Investment Banking and International Relations, states that the Clean Energy Fund will operate on 19 January 2009 with a basket consisting of an equal ratio between the International Renewable Energy Index, International Energy Efficiency Index and the International Waste Management Index. Yarcan further says that “The negative effects of fossil based fuels on climate change and the increase in the cost of energy has made it mandatory to decrease the cost of energy and switch to alternative energy sources such as water, wind and the sun. With more attention on waste management, biodiesel energy production has become important. The increase in environmental awareness, support from the government and attention shown by corporations illustrate the potential of this sector. Small and mid-sized global corporations that invest in these areas will be able to create new opportunities in respect to growth and profit. With the Clean Energy Fund that we will export, investors will get the opportunity to invest in an alternative market and bring variety to their portfolios.”Yarcan emphasizes that the Clean Energy Fund will presents investors the opportunity to create a diverse portfolio by investing in international markets, different countries and a variety of companies while obtaining a 10% guaranteed return. Yarcan states, “Due to the global crisis affecting world economies in a series of waves we have experienced a great amount of sales in the stock market. With the Clean Energy Fund investors will be kept away from the short-term market fluctuations and be able to take advantage of the opportunity arising from the recovery of the stock market.”

TSKB offsets the ‘Carbon Footprint’ of investors who purchase Clean Energy Funds! TSKB Assistant General Manager Şeniz Yarcan stated that with the Clean Energy Fund TSKB brought a different perspective to ‘Sustainable Banking,’ and in this scope brought to life a new corporate social responsibility project. Through this project TSKB will use a certain amount of the management fee coming from the Clean Energy Fund to offset its investors’ carbon footprints. Regarding the social responsibility aspect of the project aiming to create awareness among the public opinion Yarcan gave these insights: ““In order to offset a certain amount of its fund investors’ carbon footprints, TSKB will buy voluntary carbon loans provided by renewable energy projects implemented in Turkey, for them. The greatest advantage of doing carbon offset by buying carbon loans is the contribution to preventing global environmental problems. Ways of reducing carbon footprint will also be shared with our investors.

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