18.08.2020

First Support Extended to Altınmarka via the Sustainable Development Goals Loan Model

Another new ground from TSKB in the financing of sustainability:

TSKB has developed a new loan with a focus on the Sustainable Development Goals. Under the Sustainable Development Goals (SDG) Loan Model, a self-assessment is conducted for firms regarding social, economic and environmental impacts and action plans are devised for the SDG. The first support has been provided to Altınmarka within the scope of this model paving the way for improvements in financing costs depending on any positive impact achieved.

As a bank with a loan portfolio three-fourths of which are composed of sustainability and inclusivity-themed investments, TSKB continues to contribute to the creation of a climate-friendly and environmentally-friendly investment culture resulting in positive social impacts in our country through its innovative financing models.

Under the working capital loan extended to Altınmarka through the SDG Loan Model, a self-assessment will be carried out for Altınmarka by ESCARUS, an affiliate of TSKB operating in the field of sustainability consultancy, with a focus on social, economic and environmental issues.

The SDG Assessment Tool developed by ESCARUS conducts a self-assessment on the activities and performance of firms regarding 17 SDGs introduced by the United Nations. In the light of this assessment, a gap analysis is performed to identify areas for improvement and create actions plans concerning SDGs.

The SDG report to be drawn up for Altınmarka will serve as an impartial assessment that the company can present to its local and international stakeholders in current days when new consumption habits focus on the sustainability of products.

In line with the actions plans prioritizing the Sustainable Development Goals titled Responsible Production and Consumption (SDG 12), Decent Work and Economic Growth (SDG 8), Gender Equality (SDG 5), Affordable and Clean Energy (SDG 7), Climate Action (SDG 13), Quality Education (SDG 4) and Industry, Innovation and Infrastructure (SDG 9), improvements will be offered to Altınmarka depending on the impact created by the firm.

Providing information on TSKB's new loan model focusing on the Sustainable Development Goals of the UN, the CEO of TSKB Ece Börü has said: "The pandemic period which we are going through has shown us once again that sustainability and inclusivity practices are a must for the business and finance world. As TSKB, we continue to contribute to our country without slowing down with the help of our 70 years of experience in development economics, intellectual capital in sustainability and qualified financing facilities. In cooperation with our affiliate Escarus, we are extending a new financing support to our distinguished client Altınmarka through the SDG loan model for the first time and bring our support to a level encompassing multi-faceted added value. Based on the globally-recognized UN Sustainable Development Goals, this model is not only extending financing to our firms over the most affordable costs, but also introducing more sustainable practices in environmental, social and economic terms. We hope that this unity of forces and consensus we have created as three institutions will set an example for the replication thereof with our new firms."

Offering information on the contribution provided thereby to the SDG Loan Model, General Manager of ESCARUS Kubilay Kavak, PhD, has made the following remarks: "As Escarus, we have been offering sustainability consultancy services to the business world in a wide range of areas for around 10 years. One of them is the assessment of companies within the scope of the UN Sustainable Development Goals gathered under 17 titles and contribute to sustainable business models by drawing up action plans regarding the areas for improvement. We are very pleased to contribute with our expertise in this area to the SDG loan model put into practice by TSKB for the first time in the Turkish financial sector with Altınmarka and providing companies with the opportunity to access affordable financing through the steps taken thereby towards sustainability.”

Board Chairman of Altınmarka, the first company collaborated through this innovative financing model of TSKB, Birol Altınkılıç has made the following statement: "As Altınmarka Group, we are very pleased to be recruited into the SDG (Sustainable Development Goals) Loan Program introduced by TSKB and become the first institution making use of the facilities offered by this project in Turkey. The report prepared by Escarus, an affiliate of TSKB, on the sustainability of Altınmarka products as well as the performance and activities of our company in accordance with internationally-accepted criteria will be an opportunity for Altınmarka Group to focus more on this issue and to further develop itself at international level. I would like to thank TSKB and ESCARUS managements and their teams for their confidence in our organization and their belief in our activities, and also thank my colleagues who I am sure will attach more importance to sustainability through this awareness for their contributions in the project.”

About TSKB:

Since 1950, TSKB has been offering corporate lending, project finance, investment banking and consultancy services to support our country's sustainable development. The Bank not only provides investments by the Turkish business world with access to global funds obtained through long-term business partnerships with supranational financial institutions but also offers exclusive consultancy services on financial, technical and environmental sustainability of investments in addition to long-term loans. TSKB also creates value for the development and growth of Turkish economy through high-quality investment banking services. TSKB integrates the economic, social and environmental dimensions of globally-acknowledged sustainability practices into banking processes and provides funding for the transition of the business world to a low-carbon and more efficient production level. TSKB has the honor to be the first carbon neutral bank, the first bank to publish a sustainability report in finance sector, and the first bank to have an ISO 14001 Environmental Management System in Turkey. Furthermore, the Bank broke another new ground in Turkey when it issued a 'Green/Sustainable Bond' on international markets in 2016. Standing out as one of the organizations with the highest rating on BIST Corporate Governance Index, TSKB is also listed on BIST Sustainability Index. TSKB's success has been acknowledged through numerous awards the Bank has so far received on international platforms such as Euromoney, Financial Times, IFC, CDP, Global Capital, IFR-Thomson Reuters and Bonds&Loans.

www.tskb.com.tr | www.cevreciyiz.com

About Altınmarka:

Altınmarka Food was established in 1992 to manufacture cocoa products and initiated its initial manufacturing activities in Istanbul in 1994. Since it became operational, Altınmarka has engaged in manufacturing and selling cocoa and products made of cocoa. Main products manufactured out of imported cocoa beans are cocoa butter, cocoa liquor and cocoa powder. These products are used in many industries including chocolate, beverages and ice cream. In addition, the Company completed its industrial chocolate investment in 2005 and ships liquid and moulded chocolate to major manufacturers at local level. Apart from the local Turkish market, Altınmarka is the solution partner of leading global companies in more than 50 countries worldwide. In addition to the activities of Altınmarka; Kahve Dünyası, Detay Kahve, Detay Gıda, Detay Unlu Mamüller and Alcao are also part of Altınmarka Group. Currently renowned as one of the leading industrial cocoa and chocolate manufacturers throughout the world, Altınmarka has been a member of the top 500 industrial enterprises list since 1999. Owing to its manufacturing activities, Altınmarka was awarded with "European Candy Kettle Award" presented by European Candy Kettle Club in 2012.

www.altinmarka.com.tr

Türkiye Sınai Kalkınma BankasıTurkey’s comprehensive environmental portal cevreciyiz.com is supported by TSKB.