TSKB Receives "Low Carbon Hero" Award
During the 10th Istanbul Carbon Summit, TSKB received the Low Carbon Hero award for its pioneering work in carbon management and sustainable finance under its ‘Türkiye's First Sustainable Finance Framework Integrated with Transition Finance’ project.
TSKB (Industrial Development Bank of Türkiye) was once again awarded the ‘Low Carbon Hero’ award at the 10th Istanbul Carbon Summit organized by the Ministry of Environment, Urbanization and Climate Change and the Sustainable Production and Consumption Association (SÜT-D) and hosted by Istanbul Technical University on April 14-15, 2025.
TSKB received the award for Türkiye's first Transition Finance Integrated Sustainable Finance Framework, which stands out as a pioneering model supporting the green transformation of companies operating in high-emission sectors. This framework is among the first of its kind in the world and is fully compliant with international standards as well as ICMA's (International Capital Markets Association) climate transition finance principles. It guides the finance sector in the transition to a low-carbon economy in line with Türkiye's 2053 Net Zero target.
Joining the ‘Net-Zero Banking Alliance’ in 2022, TSKB aimed to provide USD 4 billion in climate finance by 2030 as part of its commitment to align its loan and investment portfolio with net zero emission targets by 2050, already disbursing 18% of this amount as of 2024. 58% of the Bank's loan portfolio consists of projects that contribute to the Sustainable Development Goals through themes such as renewable energy, energy and resource efficiency, circular economy, and green structuring of the earthquake zone.
The action steps towards a decarbonized economy and the importance of climate finance were emphasized during the session titled ‘Decarbonizing the Economy and Green Money’. The session was moderated by Dr. Kubilay Kavak, General Manager of TSKB Sustainability Consultancy-ESCARUS, a subsidiary of TSKB, with Bahadır Koçaker, Department Head for Development Finance Institutions at TSKB, speaking at the session.
