Turkiye Sinai Kalkinma Bankasi (TSKB) is a Turkish investment and development bank. The bank’s services include corporate lending and project finance, corporate finance, treasury operations, investment services, capital market intermediary activities and portfolio management. TSKB also provides privatization, mergers and acquisitions, debt and equity issues, asset purchases, sales services and strategic consultancy.
Turkiye Sinai Kalkinma Bankasi’s vision is to be a pioneer in Turkey’s sustainable development. The bank has committed to measuring environmental and social risks involved in any credit facilitation and to refuse financing high risk investments such as rainforest logging operations or tobacco and firearms producers. Additionally, more than half of TSKB’s loan portfolio is composed of sustainable investment projects, including 133 renewable energy projects, 40 energy and resource efficiency projects and 9 sustainable tourism projects. 13% of the renewable energy capacity in Turkey is financed by the bank. This has helped reduce the country’s carbon footprint by 8.3 million tons of CO2. Regarding its direct impact, TSKB has decreased its electricity usage by 27%, water usage by 29%, natural gas usage by 42% and paper usage by 48%. The bank’s facilities have been using 100% green energy since 2009, and it has taken measures to become completely carbon-neutral. TSKB tracks trend data for all of its key performance indicators and has obtained ISO 14001 and 14064 certificates. The bank arranges sustainability contracts into 100% of its supplier relations.
Turkiye Sinai Kalkinma Bankasi is not a signatory to the Principles for Responsible Investment nor the Equator Principles, therefore not completely managing the risks related to its investment opportunities. Additionally, the bank has not released any long-term goals for improving its key performance indicators.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.