Industrial Development Bank of Türkiye Publishes 2017 Integrated Report
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After publishing the Turkish finance industry’s the first Integrated Report last year, TSKB recently published its second Integrated Report, setting out its performance in inclusive and sustainable development.
Standing out with its pioneering practices in sustainability, the Industrial Development Bank of Türkiye (TSKB) presented its stakeholders with its second Integrated Report, the first of which was published last year. The Integrated Report sets out detailed information on TSKB's 2017 performance in addition to its model, strategy and goals for job and value creation.
TSKB's 'Value Creation Model' focusses on the economic, social and environmental added value created through all forms of capital, with a conviction that financial results are not the only factor in the success of an organization. The 'Value Creation Model' elaborates on a myriad of qualities differentiating the Bank such as the ability to create value from information, an independent and multilateral assessment and an environmental and social impact assessment in the lending process. The report includes an in-depth examination of how global trends and Sustainable Development Goals affect the Value Creation Model. In addition, the report extensively elaborates on the 2017 activities delivered on stakeholder communication, which represents an important input for the Value Creation Model.
As last year, prioritization analysis and the Integrated Reporting Framework of the International Integrated Reporting Council (IIRC) have been taken as a basis while drawing up the TSKB Integrated Report. The value created by TSKB is analyzed under six capital categories; financial, human, natural, intellectual, manufactured and social capital, reflecting on how priority matters are transposed to the business model, performance and goals. Moreover, the outcomes of consultations with the Advisory Board comprising of Prof. Güler Aras from Yıldız Technical University, Prof. Hakan Berument from Bilkent University and Prof. Kamil Yılmaz from Koç University were considered and utilized in developing the content and scope of the report.
The TSKB Integrated Report was subject to a limited assurance audit undertaken by EY (Ernst&Young) with respect to the financials, human resources indicators and the internal environmental impact. In addition, TSKB's internal environmental impact data such as water and electricity consumption and carbon emissions are set out under the audit assurance of ISO 14001 and ISO 14064 standards.
Highlights from the TSKB Integrated Report
• In 2017, TSKB contributed USD 2.5 billion to the Turkish economy with a 20% rate of growth in assets and a loan-to-asset ratio of 77%.
• Sustainable loans command a 68% share in TSKB's loan portfolio.
• TSKB has funded a total of 245 renewable energy projects to date, commanding a share of 15% in Türkiye's renewable energy capacity.
• TSKB has supported the implementation of 131 energy and resource efficiency projects in many sectors, specifically iron and steel, chemicals, plastics, automotive, construction and cement.
• Such projects carried out by TSKB paved the way for a reduction of 12 million tonnes in annual carbon emissions.
• TSKB, Türkiye's first carbon neutral bank, continued to keep its internal environmental impact under control in 2017 pursuant to ISO 14001 and ISO 14064 standards.
• The rate of women's employment increased by 15% in companies benefiting from loans for equal opportunities as offered by TSKB.
• Women account for 55% of managerial positions in the Bank.
• In 2017, TSKB acted as the chair of the Working Group on Equal Opportunities of IDFC (International Development Finance Club) and SKD Türkiye (Business World and Sustainable Development Association).
• TSKB has focused on social responsibility projects concerning the environment, education and culture, and continued to organize carbon neutral events.
