Şekerbank continues to develop its sustainable banking practices from a global perspective, taking pioneering steps to monitor and mitigate the potential environmental impacts of its operations. The Bank has now joined the ranks of over 4,000 global organizations that support the "Task Force on Climate-related Financial Disclosures" (TCFD), established by the Financial Stability Board (FSB) to make recommendations about the global financial system by monitoring the risks associated with climate change. As one of the leading institutions in Türkiye that follow TCFD’s recommendations, Şekerbank will continue to demonstrate its commitment to the global standards in reporting of its climate-related risks.
Bringing together the world's leading organizations in the ongoing shift to a low-carbon economy, the TCFD works to create awareness of the market impacts stemming from the climate crisis by establishing a global framework for companies and institutions to take necessary action. By following the TCFD framework as a guideline to more effectively and consciously manage climate risks, Şekerbank has taken a significant step towards the key aspects of its strategy, namely the fight against climate change, accurate identification of climate-related risks and opportunities, and transparent reporting.
As one of the first commercial banks in Türkiye to implement the Social and Environmental Management System in lending processes, Şekerbank has been calculating its carbon footprint within the scope of the “CDP Climate Change Program” since 2010 in an effort to monitor and reduce its greenhouse gas emissions—the primary cause of global warming. In line with the Science Based Targets initiative (SBTi), the Bank has set a target to reduce emissions resulting from its activities by 43% by 2027, and is also closely following and adapting to the European Union’s Green Deal, which supports the circular economy and aims to accelerate digitization as a key instrument in combating climate change.