TSKB Celebrates the World Environment Day with Its Concrete Solutions on Sustainability

5 June 2021
- 3 min Read

Increasing its environmentally-friendly efforts to ensure sustainable development and economic prosperity every year, TSKB draws attention to its innovative sustainable activities in the first half of 2021 on June 5th, the World Environment Day, and invites the business world to take concrete steps.

Operating with the mission of sustainable development and creating added value for the national economy, the Industrial Development Bank of Turkey (TSKB) proceeds its work on climate and environment without slowing down. Drawing attention to the importance of climate-friendly and green solutions on the World Environment Day, TSKB invites the business and manufacturing world to take concrete steps towards a sustainable future.

Delivering all banking operations in line with the internationally-recognized sustainability principles, TSKB directly contributes to 7 of the 17 UN Sustainable Development Goals through the financing facilities it offers. The financing offered by TSKB to environmental and social-themed investments such as clean energy, energy and resource efficiency, and women's employment towards transition to a low-carbon and inclusive economy constitutes 74% of its loan portfolio.

Sustainable finance activities performed in the first half of 2021:

In the first days of 2021, TSKB successfully completed the third sustainable Eurobond issuance in its history and set a good example with a 5-year sustainable bond issuance of USD 350 million. Funds secured under the issuance 6 times oversubscribed by investors are lent to finance projects that comply with TSKB's Sustainable Financing Framework.

Introducing yet another innovative issuance to capital markets through its investment banking services, TSKB issued the first lease certificate within the framework of the UN Sustainable Development Goals. Brokering a TL 45 million worth of issuance under the TL 400 million SDG lease certificate issuance program created on behalf of Zorlu Energy, the bank created funds directly intended for SDGs on behalf of an energy company for the first time in the world.

The Sustainable Lease Certificate issued by TSKB in 2020 on behalf of Zorlu Energy and also a first in the world was crowned by The Banker with “Europe's Best Islamic Finance Deal” award in May 2021.

Supporting environmentally-friendly projects and continuing to contribute to a sustainable future through investments in renewable energy, TSKB has financed a total of 330 renewable energy projects 162 of which are SPP projects. Offering more than USD 250 millions of funds in total for an installed solar capacity of 250 MW, the bank will take firm steps towards accelerating its environmentalist steps through its targeted SPP financing of USD 200 million in the next couple of years.

The first "Climate Risks Report" in the Turkish banking sector

Publishing the first Climate Risks Report with the mission of being one of the leading institutions supporting the Task Force on Climate-Related Financial Disclosures (TCFD) in Turkey, TSKB underlined that it listed combating and adapting to climate change among its strategic priorities with the statements in the report. Planning to finalize the end-to-end integration of climate risks in its loan portfolio by 2023 according to the report, TSKB aims to keep at 90% the weight of SDG-linked loans within the total portfolio until 2025.

TSKB's sustainability consultancy company Escarus is 10 years old

Constituted out of the in-depth knowledge and expertise of TSKB on sustainable development in 2011, Escarus celebrated its 10th anniversary in April 2021. Considering sustainability as a concept that affects the social life and economy as a whole beyond environmental issues, Escarus has carried out more than 140 projects for more than 100 institutions in many different sectors and geographies in the last decade.

More cooperation against the risks of the climate crisis

Aiming to keep its pace in the journey of sustainable and inclusive development while also eliminating obstacles in front of this target, TSKB established the Green Swan Platform for joint solutions and actions against the climate crisis. Publishing quarterly reports titled "Climate Review” on issues such as water crisis and food safety under the umbrella of the platform, TSKB aims to bring together public, private sector and CSO representatives as well as international organizations, academics, students and media members under the roof of the platform.

Double awards from the Asian geography in the first half of the yearz

Rewarded with a meaningful award by CSR Works International aiming to support the women network driving positive change around the world by recognizing the achievements of women in business life, TSKB CEO Ece Börü was listed in the honors list of female sustainability leaders of Asia Region. Marked as one of 13 female leaders creating value in the field of sustainability in "Asia’s Top Sustainability International Superwomen 2020" encompassing the vast geography of Asia, Ece Börü is the only female leader representing Turkey in the honors list. TSKB has recently been rewarded with the second award from CSRWorks, the leading institution of Asia in the field of sustainability, in 2021. Crowned with the "Best Integrated Report" award at the 6th Asia Sustainability Reporting Awards, TSKB was listed as one of the best companies in Asia region once again.