Sustainability at Türk Eximbank
Türk Eximbank believes that sustainable exports is of the utmost importance in the rapidly changing world that is confronted with numerous issues from climate change to socioeconomic inequality. In this direction, the Bank takes into account all financial and non-financial risks that are economic and ESG-related while carrying out its activities.
Within this framework, the Bank launched the “Sustainability, Environmental and Social Risk Management” Project to carry out all of its activities in line with sustainability principles and to shape its governance structure on the center of these principles. In the same direction, the Sustainability Principles, Environmental and Social Impact Policy, Climate Change Adaptation and Mitigation Policy were approved by the Board of Directors.
Accordingly, the Environmental and Social Risk Model is applied for the following loan applications although they are not included in “Türk Eximbank Unfunded Activities List” in order to assess the environmental and social risks stemming from the Bank’s lending and insurance transactions and for their effective management in line with the Bank’s strategy:
- All investment loan, medium- and long-term insurance and international loans applications, in which Türk Eximbank’s share is USD 10 million or higher and which have a term of 24 months or longer,
- Investment loan, medium- and long-term insurance and international loan applications, in which Türk Eximbank’s share is below USD 10 million, which have a term of 24 months or longer, which are located within/near sensitive zones or which present a high probability of significant human rights impacts within the scope of the operation,
- Loan applications in the threshold amount and at the terms stipulated in the related agreements within the framework of disbursements from subordinated funds secured from, or with the guarantee of, supranational institutions such as MIGA, World Bank (IBRD), the Council of Europe Development Bank (CEB), Islamic Development Bank and ICIEC.
renewable energyAn agreement has been reached for procuring the Bank’s electrical energy from renewables in 2022 and 1,000 MWh I-REC has been purchased.
As Türk Eximbank, we believe that sustainability is a factor that affects not just the world’s future but one that also drives the development of organizations. Accordingly, the Sustainability Committee and the Sustainability Sub-Committee have been set up in 2019. Procedures have been determined for each Sustainability Sub-Committee member within the scope of the Sustainability Management System, and necessary planning has been made in periodic meetings. Furthermore, a Sustainability Department has been set up at the Bank in 2021. The Bank obtained ISO 14064 GHG Verification Document for its 2020 operational activities. The emissions audit for 2021 will be conducted in accordance with ISO 14064:2018 version and related work is ongoing for 2021 operational activities. An agreement has been reached for procuring the Bank’s electrical energy from renewables in 2022 and 1,000 MWh I-REC has been purchased. On another hand, work has been commenced for the Bank’s first Sustainability Report which will be published for 2021. In addition, a Sustainability Bulletin is being prepared to familiarize the Bank employees with global and local developments in relation to sustainability and to make sure that sustainability notion is embraced by all employees. The Bank regularly participates in the Banks Association of Türkiye Working Group meetings, and sustainability-related webinars of various organizations (ERTA, Integrated Reporting, UNEP etc.) to keep abreast of the latest developments, and the senior management is kept informed regularly.
