Combating Climate Change
Predicting and closely monitoring climate risks, Türk Eximbank is aware that climate change can significantly affect its business activities. Accordingly, the Bank targets to help export companies to achieve technological progress in relation to low carbon emissions.
Türk Eximbank systematically evaluates the climate and sustainability criteria of credit and insurance products it offers, and takes into consideration the criteria that might have an impact on itself and its exports (GHG emissions, energy efficiency, resource efficiency, climate risks, etc.) on the basis of international best practices, as well as the environmental and social principles it has established.
Under ICAAP activities undertaken, the Bank defined the general quality of climate risk and physical and transition risks, assessed the portfolio credit amount associated with climate risk, and determined the share of companies with high climate risk within the current distribution.
Carbon Emissions
Türk Eximbank reckons with the sphere of indirect and direct impact of its operations, and takes the necessary steps to track and reduce carbon emissions, which are critical for combating climate change. First initiated in 2020, carbon and GHG emissions tracking, calculation and reporting were carried out in accordance with ISO 14064:2018 for 2023.
GHG Emissions (TCO2e) |
2021 |
2022 |
2023 |
Category 1 |
263 |
303 |
337 |
Category 2 |
605 |
209 |
60 |
Category 3 |
1,032 |
990 |
1,180 |
Category 4 |
3,267 |
1,018 |
610 |
Category 5 |
3,543,431 |
15,090,766 |
24,412,734 |
Total |
3,548,598 |
15,093,286 |
24,414,921 |
Energy Saving
Türk Eximbank achieved a completion rate of 67% in its initiative to obtain 50% of its electricity need from renewables based on a purchase of 1.000 MWh I-Rec in 2022. The Bank’s target to have 90% of its energy consumption for 2023 certified with I-Rec was surpassed and materialized as 92%.
In 2023, for energy saving purposes at the Central Anatolia Regional Directorate service building, TL 54 million was spent for the building’s automation system, split as TL 35.1 million for periodic maintenance and TL 18.9 million for the replacement of broken mechanical piece.
Carbon Border Adjustment Mechanism
Following the European Green Deal released in 2019, the European Commissions published the “Fit for 55” package of regulation in 2021. Covered in this package, Carbon Border Adjustment Mechanism is intended to be initiated first as an emissions reporting obligation from 2023 for six carbon-intensive industries (cement, electricity, fertilizer, iron & steel, aluminum and hydrogen) and fiscal obligations will kick in from 2026 within the scope of the said reporting systematic.
Under the said mechanism, Türk Eximbank created a model for calculating the carbon tax costs of exporters with high risk of being subject to carbon border tax within the Bank’s portfolio. As every risk embodies opportunities, the digitized cost approach is considered to potentially provide a deliverable that will form the foundation of its short-medium-term strategy, as well as granting the Bank a new perspective for climate risks.
Interactive Collaborations for the Environment and Climate Crisis
Türk Eximbank collaborates with its stakeholders, Ministries in particular, to help fulfill exporters’ needs in relation to green transformation and sustainability.
To this end, the Bank regularly participates in the meetings held by;
