Sustainable Finance
TSKB integrates the concept of sustainability into all of its banking services so that business enterprises may create economic value while also helping to safeguard the future.
Paralleling the growing worldwide urgency of global warming and climate change issues, both the renewable energy and the environment and energy efficiency sectors have emerged to the fore during the last decade. This has created both an important new avenue of business and a source of potential liability for the world’s financial services providers.
Having made its strong foresight an essential component of its corporate strategy, in 2003 TSKB identified renewable energy as one of the key sectors that were essential to the support of Turkey’s sustainable development and to the transition to a low carbon economy. The bank decided to devote increasingly greater attention to that business line and since then, both the renewable energy and power distribution sectors and energy efficiency projects have come to account for a significant share of TSKB’s loan book.
Since the last quarter of 2014, resource efficiency projects have also begun to appear in TSKB’s loan book as well. Resource efficiency finance projects have such goals as making more effective use of natural resources, generating less waste, and recycling waste. The ultimate aim of all such projects is to reduce costs by reducing emissions.
Besides providing financing models specially crafted for renewable energy, energy and resource efficiency, and environmental protection investments, TSKB also takes environmental and social risk factors into account when evaluating all projects. Such efforts support Turkey’s efforts to change over to modes of production that are more eco-friendly as well as efficient.
Sustainability financing: The numerical dimensions:
- Having so far supplied resources for more than 210 clean energy projects, TSKB has single-handedly brought about the addition of 5,332 MW of installed capacity, which corresponds to about 15% of Turkey’s total renewable energy capacity.
- The energy saved by the more than sixty energy efficiency projects financed by TSKB corresponds to the energy required to heat a city of 1.83 million people for a whole year.
- All the investments to which TSKB has supplied funding so far have reduced Turkey’s annual CO2 emissions by 13 million tons.
- In 2016 TSKB provided financing to energy and resource efficiency, renewable energy, sustainable tourism, and environmental protection investment projects. Such projects make up more than a half of the bank’s loan book as measured by value.
Türkiye Sınai Kalkınma BankasıTurkey’s comprehensive environmental portal cevreciyiz.com is supported by TSKB.