TSKB wins Honors Award at ARC International Reporting Awards

20 September 2022
- 3 min. Read

TSKB received the “Non-Traditional Integrated AR & CSR -Honors Award” category with its 2021 Integrated Annual Report at the international ARC Awards, which stands out as the most prestigious award program in its field.

With its 2021 Integrated Annual Report, TSKB (Industrial Development Bank of Turkey) received the Honors Award in the “Non-Traditional Integrated Annual Reports” category at the ARC Awards, acknowledged as the most prestigious awards for annual reports worldwide. Hundreds of applications from many countries were received this year for the competition, which has been organized by the US-based MerComm for 36 years.

TSKB, one of the first institutions in the Turkish finance sector to take the lead in sustainability, has been reporting its multifaceted contribution to inclusive and sustainable development in its economic, social and environmental dimensions since 2009.

The report, which covers the Bank’s financial and non-financial performance for the period of January 1-December 31, 2021, also includes the United Nations Responsible Banking Principles Report, of which TSKB is a founding signatory. This data is also taken as a reference in the Communication on Progress (CoP), the annual progress reporting to the UN Global Compact, of which TSKB has been a member since 2009.

Since 2009, TSKB has been rapidly implementing global developments in publishing its sustainability performance on an annual basis, breaking many new grounds in the Turkish finance sector in the field of reporting.

·        First Climate Risks Report aligned with TCFD recommendations - 2021

·        First Integrated Annual Report - 2018

·        First Integrated Report - 2016

·        First Sustainability Report in GRI G4 format - 2015

·        First GRI A+ approved Sustainability Report - 2013

·        First Sustainability Report - 2009

Reporting its financial and sustainability performance in compliance with globally recognized standards, TSKB further develops its reporting culture every year with its innovative approach. In its latest report with the theme “Impact Oriented Sustainable Development”, the Bank discusses the current outputs and impacts of its value and impact creation model, risk and opportunity management, future plans and goals on the basis of capital classification with the integrated thinking principles recommended by the Value Reporting Foundation (VFR). 

TSKB CEO Murat Bilgiç underlined that the prestigious awards they have received in the international arena are an important motivation to do better and added, “Financial performance alone is no longer enough for today’s organizations. Successfully integrating ESG (Environmental, Social and Governance) performance into business models is a long journey that demands discipline. In this sense, we see integrated annual reporting as one of the most important tools for defining, measuring and targeting impact and for the functioning of an impartial audit mechanism. On the other hand, reporting practices are changing and evolving over time. We owe all the awards we have received in the field of sustainability and reporting to our determination to closely follow the developments in the world and to improve upon them.”

You can access TSKB’s 2021 Integrated Annual Report, which is shared only digitally with an environmentally friendly approach, here.