This policy summarizes the commitment TEB has made to managing environmental and social risks. It establishes the expectations for conduct in all related aspects of TEB’s businesses.

As a financial institution, TEB has a dual role and responsibility: Its direct impact through own operations, and its indirect impact through financing activities. The potential environmental and social risks for both are identified and addressed in appropriate strategies.

TEB is committed to promoting higher environmental and social quality in its business operations under adopted ESRM structure of the Bank. TEB has launched its Environmental and Social Policies as a result of Bank’s social, economic, and environmental responsibility for contributing to sustainable development, reducing its impact to the environment and affected people and raising environmental and social awareness of the communities and its employees, thus contributing to the Positive Impact of the Bank. In line with the expectations of its stakeholders, TEB attaches great importance to projects that will have a beneficial impact on society.

To achieve these objectives, TEB is committed to:

• Considering both direct and indirect environmental and social impacts by taking responsible management and operational decisions and carrying out business processes accordingly,
• Managing direct environmental impacts that arise from the Bank’s operational activities, mainly through consumption of energy, paper, travel and company vehicles,
• Contributing to environmental sustainability activities by encouraging the use of environmentally friendly products and services and promoting energy efficiency, use of cleaner technologies and renewable resources, waste reduction and recycling,
• Managing the indirect environmental and social risks responsibly, thus refraining from financing of any of the activities listed in the “Excluded Goods and Activities” included as Annex I of this Policy, and approaching selectively while serving specific sectors,
• Placing sustainability management and other operational norms at the center of TEB’s substantial projects and operational processes.
• Serving as an example for the future of sustainable banking by promoting educational activities and raising awareness among employees, customers and other stakeholders, supporting socially and environmentally responsible behaviors,
• Complying with national and internationally acceptable environmental and social laws and regulations and even have a better performance to lead by example for the society and global/local financial sector,
• Contributing to the well-being of its employees, while incorporating contributions to the diversity and inclusion goals and being mindful of gender equality in recruiting and workplace practices,
• Creating consciousness about the importance of human rights by adopting relevant guidelines,
• Promoting healthy ecosystems, social equity and good corporate governance through its sphere of influence, especially through its clients and supply chain.

It is TEB’s policy to reflect its commitment to responsible environmental and social business conduct throughout its organizational structure up to the Board level and to encourage each employee to behave in a responsible manner both individually and when exercising her or his professional duties.

ANNEX I: EXCLUDED GOODS AND ACTIVITIES

• The production or trade in controversial weapons within the scope of the “Defense and Security CSR (Corporate Social Responsibility) Sector Policy”,
• The production, trade or use of drift nets over 2.5 kilometers in length,
• The production of asbestos fibers,
• The production or trade in products containing PCBs* (polychlorinated biphenyls),
• The trade in any plant or animal species or products governed by the Convention on International Trade in Endangered Species of Wild Fauna or Flora (CITES) which are not authorized by a CITES permit**,
• Activities mainly related to tobacco (e.g. cigarette manufacturers – wholesalers, tobacco growers – processors),
• Greenfield projects and projects seeking capacity increase or lifetime expansion for existing coal fired power plants, infrastructure projects (e.g. harbor, railways) dedicated to thermal coal. Latest before 2030, companies active in coal fired power generation sector will be exited. 

*PCBs: Polychlorinated biphenyls—a group of highly toxic chemicals. PCBs are likely to be found in oil-filled electrical transformers, capacitors and switchgear dating from 1950-1985.

**International Conventions adopted by Turkey