ASSESSMENT OF THE CEO

Dear Stakeholders,

We are proud and happy to publish the first sustainability report of TSKB. This report is especially valuable as it represents another ‘first’ of TSKB in the Turkish Banking Sector.

TSKB has been taking responsibilities in the healthy development and growth of the industry in our country for sixty years. Being a supporter of the private sector in different growth phases of the Turkish economy, TSKB has acted as the flagman of development.

Concepts of sustainability and development have inspired our vision and mission at our establishment and in time turned to be a responsibility and a focal point of our lending operations incorporating with environment.

Sustainability and environmental sensitivity concurrently became one of the basic indicators of TSKB employees’ attitude and life styles. Our Bank has built an exemplary internal capacity having sustainability and environment as the focal points of TSKB’s policies.

TSKB places and implements its sustainability priorities on the axis of environment and sustainable banking, corporate governance and compliance and social responsibility.

These priorities play key roles to form TSKB’s business strategies in line with the goals of;
  • supporting Turkey’s sustainable development model
  • maintaining and increasing employment
  • participating in the combat against climate change and
  • supporting the transition to low carbon economy in our country.


Establishment of our EMS, certification of ISO 14001 and formation of our Environment Policy are important milestones of our activities regarding our sustainability mission.

Sustainable Banking Awards that we’ve been given in 2008 and 2009 by FT-IFC, not only crowned our sustainability performance but also motivated and encouraged us to take strong steps to improve our future performance.

Offsetting our carbon footprint and being assured as a carbon neutral bank in 2009 point out a new era in our environmental journey. As the first carbon neutral bank in Turkey, TSKB has become a respected participant of the world league with its policies and implementations.

Our carbon neutral bank identity is the result of our comprehensive infrastructural studies and also an implication of our team’s high sensitivity to reduce our environmental impacts.

Our commitment to United Nations Environmental Program Finance Initiative (UNEP FI) in 2009 implies that our sustainability approach is not limited to our country and that it is also internationally accepted and reputed.

Another achievement of 2009 is the long term credit assured from the World Bank and CTF-Clean Technology Fund. Established with the aim to supply the finance that countries need in transition to low carbon economy, CTF provided resources to only two countries, Turkey has been one of the initial recipients, and TSKB has been one of the first business partners selected in Turkey.

With its Clean Energy Fund in 2009, TSKB has undersigned another ‘first’ and started a unique social responsibility project. The Bank has offset carbon foot prints (calculated over Turkey’s average) of 348 fund participants with the Gold Standard Carbon Credit that it purchased from the voluntary carbon market.

Environment is Our Priority project has been an important communication platform with public and has enabled us to continue investing in knowledge consistently. Our web TV started in 2009 with environment theme has been another new step with the aim of strengthening public awareness.

TSKB has also been an exemplary implementer of “sustainable finance” in Turkey.

While setting sustainability and environment as the keystones of our product and service processes, the long term finance we’ve provided for renewable energy, environment and energy efficiency investments have increased their share in our total credit portfolio.

With the belief that sustainable banking is required for sustainable development, TSKB has focused on renewable energy and energy efficiency projects which are important needs of our country’s economy. In the 3rd quarter of 2009, the total number of renewable energy projects financed by TSKB has reached 80. With the energy projects financed by TSKB, 2,218 MW installed power capacity is being created which is equal to 15% of Turkey’s total installed capacity in renewable energy and 5% of Turkey’s total installed capacity in energy. All of these projects serve the transition from fossil fuel based energy production to renewable energy sources. When these projects are put in service, about 4 million tones of CO2 emission reduction will be achieved.

TSKB has the necessary capacity to assure the long term finance and consultancy services that Turkey will need in the transition to low carbon economy. In line with our strategy, our Bank will continue to finance renewable energy and energy efficiency projects.

Dear stakeholders…

Our performance that we’ve shared within the different sections of this report is the first step to our ultimate goal. We know that we have to reduce our internal and external impacts more in the future. Concurrently, within this scope, our most important goal for 2010 and the following years are to reduce our CO2 emission and to maintain our carbon neutral identity by offsetting our carbon footprint.

We need our stakeholders to participate in the process of sustainability. Our mutual interactive relationships and communication will form the keystone of our strategy’s long term success.

We are pretentiously ready for the exciting future following World Climate Summit in Copenhagen in December 2009…

While we’ve been finalizing our report, tough debates have been taking place in Copenhagen between developed economies like USA and EU and rising economies like China and India. These discussions are the implications of a difficult phase to regulate an agreement for after Kyoto.

We are aware that the next process will be mind-blowing. Our main goal is to strengthen our role to be the leading and exemplary bank with new activities and to achieve fast improvements in the necessary areas. TSKB is determined to take strong and new steps to raise its performance in banking and sustainability.

Hereby, I would like to thank our Environment Management Team, our employees, consultants and suppliers for their contributions in preparation of this report.

With your continuous supports TSKB will keep on investing in the future of the world and the humankind with ultimate determination.

Halil Eroğlu
CEO, President