TSKB Receives Yet Another International Award for Sustainability

25 August 2022
- 3 min. Read

TSKB, which has been in the limelight with its innovative efforts in the field of sustainable banking for the last 30 years, received the “Turkey’s Best Sustainable Practices in Banking” award at “The Global Economics Awards 2022”.

 TSKB (Industrial Development Bank of Turkey), which stands out as a pioneering institution in Turkey with its innovative sustainable and inclusive banking practices and the experience it has accumulated in the field over the last 30 years, has won yet another award in the field of sustainability this year. TSKB received the “Turkey’s Best Sustainability Practices in Banking” award at “The Global Economics Awards 2022”, one of the most prestigious events in the UK, organized by The Global Economics Magazine.

 TSKB CEO Murat Bilgiç: “Transformation investments to mitigate climate risks shape the future of our world”

 Commenting on the award, TSKB CEO Murat Bilgiç said, “Transformation investments to mitigate climate risks shape the future of our world. We are happy to have achieved tangible success on this path thanks to the smart financing opportunities we offer, our versatile consultancy capacity and our growing sphere of influence with our business partners. We are moving forward with the motivation to set an example for the production and finance ecosystem of our country with our innovative practices in the field of sustainability. For our shared future, we need scalable and multipliable solutions in the field of green transformation, which includes themes such as climate risks, renewable energy and energy efficiency financing, carbon measurement and mitigation, and circular economy investments.”

“Today, 93 percent of our loan portfolio consists of SDG-related loans”

Referring to the exemplary efforts that has brought awards to TSKB, Bilgiç went on to add, “We think it is important to share globally recognized common goals with our stakeholders. With this approach, TSKB bases all its activities on the United Nations Sustainable Development Goals (SDGs). We set our targets and performance results within this framework. In this new era when climate actions and social development projects are on the rise all over the world, I find TSKB’s many years of sustainable and inclusive banking experience very valuable. Today, 93 percent of our loan portfolio consists of SDG-related loans. The ratio of loans contributing to climate and environment-related SDGs is 61 percent. By 2025, we aim to keep our SDG-related loan ratio at 90 percent and our loan ratio contributing to climate and environment-related SDGs at 60 percent, and we aspire to provide USD 8 billion in SDG-related financing by 2030. We measure the environmental and social risks of all our loans, regardless of the amount. We also integrate climate risks into all lending processes. In addition to our financing opportunities, we have channeled our consultancy power into the green transformation of our country. Our subsidiary Escarus, which emerged from TSKB’s expertise and provides sustainability-specific consultancy services, makes significant contributions to many sectors. We are an institution that has succeeded in integrating a sustainability approach into our investment banking services, another forte of ours. We are proud to introduce green instruments and companies that are taking firm steps towards green transformation to the Turkish capital markets.”

“To become the first organization that springs to mind when it comes to sustainability in Turkey is the biggest reward for us”

Pointing out that TSKB has expanded its sphere of influence through knowledge-based efforts and long-term social responsibility projects, Bilgiç concluded, “Through our thematic research reports and digital projects that we carry out in the field of sustainability with a social responsibility approach such as and, we make continuous and qualified contribution to our country’s know-how in the field. We aid reforestation projects in hard-to-reach terrain with airborne seed cannon shoots. We support female university students and young female musicians through educational scholarships. The biggest reward for us is for these efforts to receive international recognition and to become the first institution that springs to mind when it comes to sustainability in Turkey.”

About the Award Program:

Organized by The Global Economics Magazine, one of the UK’s most respected publications in the field of economics, the award program recognizes companies in different sectors such as banking, finance, technology, real estate and insurance for their successful work in the field of economics. The awards highlight innovative, sustainable and inspiring projects by companies operating in various countries around the world.