24.07.2020

TSKB’s ESG Risk Rating places it among the top diversified banks

TSKB, the pioneering institution for sustainable banking in Turkey, has rated among the top diversified banks for Environmental, Social and Governance (ESG) performance by Sustainalytics, a leading global provider of ESG research, ratings and data.

As of May 2020, TSKB ranked 6th out of 372 banks with an ESG Risk Rating of 16.7 due to its medium risk exposure and strong management of material ESG issues. TSKB is assessed as being at low risk of experiencing material financial impacts due to ESG factors. This rating places TSKB first among Turkish banks evaluated by Sustainalytics and in the 2nd percentile in its subindustry of diversified banks.

The assessment is based on Sustainalytics’ ESG Risk Ratings research framework which measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks. The ESG Risk Ratings provide a quantitative measure of unmanaged ESG risk and distinguish between five levels of risk: negligible, low, medium, high and severe.

TSKB’s strong management of ESG risks is once again recognized given its score and ranking, yet TSKB remains determined for further improvements in managing the ESG risks based on its strategy and policies.

Having founded in 1950 with the initiation of development banking structure in Turkey through support of World Bank Group, TSKB has been continuing in line with the its mission to focus on creating value for the inclusive and sustainable development of Turkey.

TSKB has integrated sustainability by its mission to its business model and processes from end to end. As such, The Bank has structured its Sustainability Management System in early 2000s to cover all its business processes in order to reduce the environmental and social impacts as a result of its banking operations and to support Turkey’s transition to a low carbon economy. This approach is also embedded into the organizational structure of the Bank and embraced by all employees via working groups of Sustainability Sub-Committee, ensuring the contribution of collective mind in value creation. This discipline as a sign of good governance principles is also monitored at the Board level through Sustainability Committee.

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