Global Compact Network Turkey publishes the “Declaration on Sustainable Finance”

The following is an article submitted by a Global Compact Local Network. Please contact the network representative listed below with any questions regarding its contents.

Seven banks who are signatories of United Nations Global Compact (Akbank, Garanti, ING Bank, Isbank, Şekerbank, Yapı Kredi and TSKB) have signed the Declaration on Sustainable Finance. The Declaration, prepared under the leadership of Global Compact Network Turkey, aims at amending the credit processes with the evaluation of the environmental and social risks and integrating these assessments to relevant policies.

(Istanbul, 29 September 2017) – Leading financial institutions across the world have begun to implement the sustainability criteria into all of their corporate activities and customer services, and thus create long-term value for the benefit of the business community and the society. On the other hand, initiatives based on voluntary cooperation such as Banking Environment Initiative, Equator Principles and Principles for Responsible Investment, are shaping the global agenda of sustainable development.

In accordance with the strategy of “creating a multiplier effect by involving natural stakeholders”, Global Compact Network Turkey believes that the integration of the sustainability criteria into the credit evaluation processes of the financial institutions can play a crucial role in spreading the concept of sustainability across the society. The “Declaration on Sustainable Finance” prepared in this spirit is an important step forward that will improve current practices of the financial sector in Turkey and mobilize all stakeholders in order to build a sustainable future.

With this Declaration signed by Akbank, Garanti, ING Bank, Isbank, Şekerbank, Yapı Kredi and TSKB, we invite all the banks to participate in this transformation.

This ground-breaking Declaration was launched at the V. Forum on Sustainable Finance, on 29 September 2017. Jointly organized by SKD Turkiye, UNEP Finance Initiative (UNEP FI) and Global Compact Network Turkey, the Forum was graced with the presence of the Deputy Prime Minister Mr. Mehmet Şimşek. This year, the central theme of the Forum on Sustainable Finance was “The Fight Against Climate Change and the Financial Sector”.

Click here to read Global Compact Turkey Declaration on Sustainable Finance

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About Global Compact Network Turkey

Global Compact Network Turkey, the Turkish National Network of the UN Global Compact, aims to expand the concept of 'responsible corporate citizenship and sustainable institutions' in Turkey, taking advantage of the power of collective action. In this respect, it aims to provide a sustainable and inclusive global economy by cooperating with the private sector and other social stakeholders both in Turkey and internationally. Independent Secretariat of Global Compact Turkey is jointly undertaken by TÜSİAD and TİSK. Within the framework of this structure, TÜSİAD is headquartered in Istanbul and TİSK is located in Ankara. It is one of the leading national networks of the world and has a major role in successful cases and comprehensive studies from Turkey. By 2015, Global Compact Turkey is the world's 11th largest and the sixth largest national network in Europe with 304 active signatories within the Global Compact system. The aim of the institution is to place this vision of corporate citizenship within the first five in Europe and the first eight in terms of the number of institutions participating in Turkey by further disseminating it. (www.globalcompactturkiye.org)

Contact:
Melda Cele, Network Contact Person
Global Compact Network Turkey
mcele@tusiad.org
+90 (212) 249 19 29 ext. 127