Kuveyt Türk has established the Sustainability Committee to meet its responsibilities towards all its stakeholders based on the principles of transparency and reliability; and to add value in light of its approach toward responsible and responsive banking for society and the environment.
There are Six Working Groups reporting to the Sustainability Committee, focusing on Sustainable Banking, Environmental Management, Social Benefit and Safety, Communication with Stakeholders, and Collaborations. Decisions regarding the implementation of the Sustainable Banking Strategy, formulated by the Working Groups, are made by the Sustainability Committee.
How do the Sustainability Committee meeting processes proceed?
Kuveyt Türk Sustainability Committee meets at least once a year. Additional meetings can be held if necessary.
How is the Sustainability Committee meeting agenda determined?
The agenda of the meeting is determined by the Committee Chair. The meeting agenda is communicated to the participants at least 1 week before the meeting by the Investor Relations and Sustainability Department, which is the Committee secretariat, considering the suggestions of the members, and the temporary and advisory members whose participation is expected are invited.
What are the responsibilities of the Sustainability Committee?
- It identifies the priorities in our Bank’s strategy by factoring in the risks and opportunities that climate change poses to Kuveyt Türk.
- It assists the Working Groups in identifying physical and transition risks and in formulating corresponding action and transition plans.
- It ensures that significant climate-related financial risks are embedded in the Bank’s strategy and risk management framework.
- It guides the Working Groups to ensure the Bank’s compliance with sustainability-related regulations and national/international best practices established by legal authorities.
- It ensures the integration of the Sustainable Banking Strategy, developed in accordance with ESG issues, into the entire banking business model and supports incentives for full employee participation.
What are the responsibilities of the Working Groups operating under the Sustainability Committee under four main headings?
- Presenting issues relevant to their areas of activity and the Sustainable Banking Strategy they have developed to the Sustainability Committee.
- Analyzing the Bank’s climate-related physical risks (both acute and chronic) as well as transition risks, creating the necessary action plan, identifying opportunities, and submitting these for inclusion in the strategic plan to the Sustainability Committee.
- Monitoring national and international developments in sustainable banking and enhancing its banking practices by implementing measures to comply with legal regulations.
- Striving to integrate innovative solutions into the Bank’s operations by adhering to best practices that promote positive environmental and social impacts.