Kuveyt Türk
Turkey’s leading participation finance institution Kuveyt Türk continues to develop its participation banking business model in line with sustainability principles in order to ensure the efficient use and protection of resources for future generations. Taking action to measure its environmental liabilities, Kuveyt Türk participated in the international reporting platform Carbon Disclosure Project (CDP) Climate Change survey for the first time and received a B score, one of the best grades in the banking sector.
Carrying out its activities with a sense of responsibility towards society and nature, Kuveyt Türk, Turkey’s leading participation finance institution, considers minimizing the environmental impact of its operations as one of the main components of its sustainable finance approach. Carrying out activities in many different areas ranging from sustainable products and services to waste management, from integrated corporate responsibility projects to in-house sustainability trainings, Kuveyt Türk measured its greenhouse gas emissions by fulfilling its environmental obligations and participated in the CDP Climate Change survey for the first time in 2023 and received a B score, one of the best grades in the finance sector. Over 23 thousand companies were scored within the scope of the 2023 Climate Change Program of CDP, the world’s largest environmental reporting platform. CDP aims to contribute to the functioning of the business world to reduce the impacts of climate change.
“Sustainability is at the core of participation finance”
Ufuk Uyan, General Manager of Kuveyt Türk, said, “Being respectful to society and nature is among the fundamental principles of participation finance. At Kuveyt Türk, we plan and execute our activities in a way to maximize environmental and social benefits. Within this framework, we measured our greenhouse gas emissions by fulfilling our environmental obligations and participated in the 2023 CDP Climate Change survey for the first time and received a B score, one of the best grades in the banking sector.
At Kuveyt Türk, we prioritize projects that will protect our nature with our actions towards energy efficiency; we act with the sensitivity of fulfilling our responsibilities towards future generations. In this regard, we fulfilled all the necessary criteria for the Zero Waste Certificate and became the first participation finance institution to receive this certificate. In addition, our Kuveyt Türk Banking Base building has the BREEAM certificate, which shows that we attach importance to energy efficiency. In addition, by adopting a paperless banking approach, we reduce paper consumption, prevent high water consumption during paper production and reduce our direct emissions. Again, in order to support sustainable economic development, we continue our sustainable investments, especially renewable energy and rooftop SPP financing, at full speed. We will continue to engage in environmental activities with our goal of becoming the leading participation finance institution in digital and sustainable finance.”
Awareness, management and leadership
CDP, which aims to change the way the business world operates in order to reduce the impacts of climate change, evaluates and rates companies’ governance structures, risk and opportunity definitions, business strategies, targets, greenhouse gas emission data and interactions with different stakeholders on climate change. Companies evaluated on a journey from awareness to management and leadership are graded from D to A. In its first year of participating in the CDP Climate Change survey, Kuveyt Türk received a management level grade of B and took its place among the companies that have the characteristic of “companies taking coordinated action on climate issues”.