TSKB is among The Top 10 Global Banks with its ESG Rating

15 November 2023
- 3 min. Read

Based on Sustainalytics’ assessment of environmental, social and governance (ESG) risk and management performance , TSKB (Industrial Development Bank of Türkiye) continues to be the leading institution in Türkiye in 2023. According to the updated rating, TSKB ranked 9th among global development banks and 10th in the international banking industry.

With a commitment to support Türkiye’s transition to a low-carbon economy through its sustainable development mission and technical capacity, TSKB’s sustainability performance and achievements have once again recognized and approved by Sustainalytics. Continuing to improve its ESG risk rating compared to the previous year, the Bank has sustained its position in the ‘negligible risk’ category with a risk rating of 6.9, securing the 9th position among global development banks and a place among the top 10 banks in the global banking industry. TSKB ranked 40th in Sustainalytics global universe, comprising over 15 thousand institutions.

Regarding the Bank’s 2023 rating update, TSKB CEO Murat Bilgiç commented, “Our Bank’s achievement in attaining a position among the top 10 in the global banking sector with its ESG risk rating is a significant outcome of our sustainability-focused business model and the successful collaborations with all our national and international stakeholders. Our globally recognized performance in ESG directly contributes to the attraction of sustainability-themed funds, aligning with our customers’ environmental, social, and governance focus and supporting Türkiye’s medium and long-term development goals. Investor demand for our issuances in international capital markets to finance sustainable investments remains robust. Our 4th sustainable bond issuance in September this year, with 2.5 times oversubscription, reflects the keen interest of ESG-oriented investors. Currently, with over 85 percent of our funding and nearly the entirety of our loan portfolio, we are directly contributing to the  science-based targets in line with our net-zero roadmap. Through our investment banking services, we take the responsibility to diversify financial instruments within Türkiye’s capital markets in accordance with our country’s net-zero targets. Beyond our financial services, we also support sustainable development ecosystem of our country through advisory services. We are delighted to be the pioneer in our sector with our ESG risk and management rating. We look forward to advance even further with our technical capacity and know-how we have accumulated in collaboration with all our stakeholders.”