TSKB Among the Best Banks in the Global Arena with an ESG Risk Rating of “Negligible Level”

23 November 2022
- 3 min Read

Continuing to raise the bar with its Environmental, Social and Governance (ESG) performance every year, TSKB improved its ESG risk rating from 13.6 to 7.9 this year, by approximately 6 points. With this rating, TSKB ranked, 12th among global development banks, 15th in the global banking sector, and 60th among approximately 15 thousand institutions evaluated by Sustainalytics.

TSKB (Industrial Development Bank of Turkey) continues to improve its Sustainalytics environmental, social and governance (ESG) risk rating every year. Continuing its rise among global banks with an ESG risk rating of 13.6 last year, the bank was assessed with a rating of 7.9 this year, on the grounds that “The risk of experiencing a significant financial impact due to ESG performance is negligible”. TSKB, which distinguished itself positively among the other institutionsin aspects such as ESG-oriented strategy, management of environmental and social risks, human capital and business ethics, ranked among the best banks in the global arena with its risk rating.

Improving by 6 points compared to last year, TSKB ranked 12th among development banks and 15th among banks in the world in the ranking by Sustainalytics, the world’s leading ESG research, rating and data provider. With its strong ESG management and negligible risk rating, the bank achieved yet another success in its sustainable banking journey..

“We will continue to consistently improve our sustainability practices in line with our strategies and provide multidimensional support to our country’s green and inclusive transformation”

TSKB CEO Murat Bilgiç stated that they are very pleased to have increased their risk rating by approximately 6 points compared to last year in Sustainalytics’ global ESG performance measurement and added, “We see being among the world’s leading international development finance institutions and global banks with our ESG risk rating as a valuable confirmation of the decisive steps we have been taking in sustainable banking for many years. We are proud to be an exemplary bank in Turkey that has put the UN Sustainable Development Goals, climate risk mitigation and adaptation targets, and carbon-free economy at the center of its value creation model. We owe our success today to our early start, our integrated management approach, the business partnerships we have developed to date, our human capital and our ability to closely follow international developments. Sustainability is a multi-stakeholder and multi-layered journey. As TSKB, we consider the firsts and achievements we have brought to our country and the sector in this field as multipliable practices, and we see it as a responsibility to share our experiences. With this perspective, we invite all players of the Turkish financial world and the real sector to become partners of concrete and impactful solutions.”

The assessment by Sustainalytics is based on a research framework that measures how exposed a company is to key ESG risks specific to its industry and how well the company manages these risks. The ESG Risk Ratings offer a quantitative measure of unmanaged ESG risks while categorizing these risk under five levels such as negligible, low, medium, high and severe.