Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Şekerbank re-evaluates its list of material issues annually in collaboration with both internal and external stakeholders, considering evolving standards and international developments in sustainability. As a dynamic process, the materiality analysis benefits from the insights of various stakeholders, regulations, standards, corporate strategies, and key global developments. In identifying its material topics, Şekerbank takes into account best practices, the Sustainability Accounting Standards Board (SASB) Financial Services – Commercial Banking sector material topics, the Global Reporting Initiative (GRI), and IFRS S1 (General Requirements for Disclosure of Sustainability-Related Financial Information) issued by the International Sustainability Standards Board (ISSB), which is part of the International Financial Reporting Standards (IFRS) organization. In 2024, Şekerbank re-examined its priorities, initially identified in 2023 through a “double materiality” approach, in light of current strategies, corporate commitments, and stakeholder expectations. Through this double materiality analysis, Şekerbank conducted risk and opportunity assessments for the areas it has designated as high priority.

Thus, high-priority and strategically important points were subjected to a comprehensive assessment.

Şekerbank actively participated in the activities of the “Sustainability Working Group” and the “Climate Transformation Finance Technical Sub-Working Group” established by the Banks Association of Turkey (TBB). These platforms are viewed as valuable opportunities for Şekerbank to engage with stakeholders within the banking sector and share expertise in sustainable banking. While contributing to sectoral research on Climate Transformation finance, Şekerbank also participated in the development and calculation of the Green Asset Ratio (GAR), which is one of the key performance indicators used for classifying sustainable finance.

The 10th Sustainable Finance Forum, organized by BCSD Turkey since 2013 and supported by Şekerbank, was held at Borsa Istanbul in collaboration with Global Compact Turkey. During the Forum, Şekerbank’s Executive Vice President Fatma Nur Çetinel delivered a speech titled “Impact Investments: Sustainable Finance Strategies Shaping the Future” as part of the panel discussion.

Şekerbank continued to provide products and services to its customers while engaging with stakeholders through various collaborations. The bank signed a protocol with İhracatı Geliştirme A.Ş. (İGE) to support female SME exporters and exporters with a female employee ratio of over 50%, and empowered women to take a more active role in business life by increasing their participation in the workforce and enhancing their competitiveness.

The Empowerment and Access to Employment of Disaster-Affected Software Developer Youth Project enhances the role of women in science, technology, engineering, and mathematics (STEM) fields, fostering economic growth and social benefits. Şekerbank is implementing a project in collaboration with SistersLab to facilitate employment opportunities for women affected by disasters.

To support renewable energy investments, Şekerbank provided financing support to customers receiving solar energy system (SPP) installation services through its partnership with İklimsa. In collaboration with Schneider Electric, the bank aimed to offer technical and financial assistance to projects focused on energy efficiency, renewable energy, and decarbonization.

How did Şekerbank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2025 PRB Impact Report Şekerbank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Şekerbank has established long-term relationships with development-oriented international financial institutions since its inception. Its extensive expertise in SME and agricultural banking, along with its ability to reach rural populations, is highly valued by these institutions. With a strong focus on SME, tradesmen, and small business banking—core areas of its operations—Şekerbank continues to serve as a bridge bank to facilitate access to rural areas, earning recognition from development-oriented international financial institutions. In addition to participating in the Foreign Trade Guarantee Programs of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) of the World Bank, Şekerbank utilizes long-term foreign funds obtained through its sustained relationships with international financial institutions to support sustainable development in Turkey.

In 2024, Şekerbank signed a significant international cooperation agreement that highlights the global importance of its inclusive social and environmental banking approach, which it implements as a local bank serving all of Turkey. Led by the Dutch Entrepreneurial Development Bank (FMO) and involving six international development organizations, Şekerbank secured a syndicated loan of approximately USD 160 million with a 5-year maturity. In addition to FMO, the partnership includes Proparco, a subsidiary of the French Development Agency (AFD), the Japan International Cooperation Agency (JICA), and six other international financial institutions such as the European Fund for Southeast Europe (EFSE), Blue Orchard Microfinancing Fund (BOMF), and ILX Fund (ILX). These funds are dedicated to environmental and social development initiatives and have been established with contributions from numerous governments and institutional investors worldwide. With EUR 25 million in financing from the European Bank for Reconstruction and Development (EBRD), Şekerbank continues to develop funds supporting projects that enhance energy efficiency and promote the sustainable use of agricultural land. In 2024, within the scope of the USD 100 million loan obtained from the US International Development Finance Corporation (DFC) for the development of the region affected by the earthquakes that occurred on February 6, 2023, Şekerbank continued to support micro, small enterprises, and SMEs in maintaining production and employment. Şekerbank provided over TL 8 billion in financing to SMEs in the earthquake-affected provinces, as well as to women-owned businesses, small businesses, and SMEs across Turkey through the DFC loan. The number of loans extended exceeded 23,000. Şekerbank remains committed to responsible lending practices in collaboration with international financial institutions and continues to contribute to the achievement of the Sustainable Development Goals.

The table detailing the Sustainable Development Goals contributed to by Şekerbank, prepared based on its activities and key focus areas, is available in Şekerbank’s Integrated Annual Report.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Şekerbank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.sekerbank.com.tr/uploads/291/PRB Rapor_En_2025_Linkleme_Rev3.pdf

Note to Şekerbank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Stakeholder Identification and Consultation
As part of its impact analysis process, IDLC follows the regulatory instructions from respective authorities and regularly consults with them regarding challenges, priorities, and future developments. IDLC’s regulatory stakeholders include Bangladesh Bank, the Department of Financial Institutions and Markets (DFIM), the Department of Environment (DoE), and others. Additionally, IDLC maintains close interactions with the Sustainable and Renewable Energy Development Authority (SREDA), whose expertise in sustainability is considered a valuable asset.

Since IDLC’s corporate clients are primarily concentrated in the Textile & RMG sector, IDLC actively engages with various associations and forums such as BGMEA, BKMEA, IFC-PACT, among others, to address industry-specific issues. Through stakeholder engagement, IDLC gains insights into current and anticipated future trends across different sectors, which helps in shaping and aligning its sustainability strategies.

Furthermore, IDLC recognizes the importance of civil society as a key stakeholder and periodically engages with civil society organizations by participating in community events and providing grants, non-profit sponsorships, scholarships, and donations to support sustainability initiatives and foster social inclusion. These efforts reflect IDLC’s commitment to SDGs 4, 5, and 6.

How did IDLC identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2025 PRB Responsible Banking Progress Statement IDLC reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Based on its impact analysis and additional studies, IDLC identified that its corporate clients, involved in various factories and industries, are particularly interested in concessional financing solutions to support their transition and sustainability initiatives. Accordingly, IDLC engages with Bangladesh Bank to avail their refinancing schemes that promote lower GHG emissions, energy efficiency, renewable energy, waste management, and green industry practices for its customers. IDLC also provides guidance to its clients to ensure compliance with the requirements of these refinance schemes. IDLC’s portfolio information for 2024 is outlined below:

2024	Green Finance	Sustainable Finance
Total disbursement	BDT 5,855.46 million (USD 48.79 million)	BDT 22,366.71 million (USD 186.39 million
YoY disbursement growth	(12.36%)	16.23%
Portfolio size	BDT 12,479.79 million (USD 103.99 million)	BDT 39,874.50 million (USD 332.29 million)
YoY Portfolio growth	32.11%	(6.02%)

Within IDLCC’s green finance portfolio, the following segments make significant contributions:

Segment	Portfolio Size
Energy & resource efficiency	BDT 5,287.56 million (USD 44.06 million)
Green/Environment friendly establishments	BDT 2,234.10 million (USD 18.62 million)
Renewable energy	BDT 1,087.87 million (USD 9.07 million)

(USD 1 = BDT 120 as of 1 January 2025)

IDLC is consistently committed to expanding its business in green and sustainable finance solutions. Each year, a clear target is established in line with Bangladesh Bank’s guidance and regulations. For 2025, based on the current portfolio, IDLC set a disbursement target of 5% for green finance and 40% for sustainable finance. These ambitious milestones demonstrate IDLC’s unwavering dedication to sustainability and societal well-being.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by IDLC, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://web.idlc.com/uploads/Unep-files/-352537.pdf

Note to IDLC: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

As a member-owned co-operative, Innovation FCU prioritizes engaging and collaborating with stakeholders to shape its future and the work carried out within the community. The next step for Innovation FCU is to incorporate the principles of responsible banking into these consultations and establish a formal process for engaging stakeholders in discussions and action plans related to sustainability, as outlined by the PRB. Stakeholder groups currently engaged and consulted by Innovation FCU include:

Members: Innovation FCU conducts ongoing member research and feedback surveys throughout the year. The organization’s strong community engagement, charitable giving, and opportunity creation have contributed positively to social equity in sustainability.

First Nations Leaders: Innovation FCU’s executive team and board members have been building relationships with First Nations Leaders and communities to better understand their unique challenges, including those related to remote and northern locations, community needs, perceptions of money, financial education, environmental and cultural preservation, economic development, and specific claims. These efforts aim to foster partnerships that honour the interests of ‘the next seven generations.’

Third Parties: Innovation FCU collaborates with various groups to enhance its impact, including the Gabriel Dumont Institute, Saskatchewan Indigenous Economic Development Network, Indigenous Wealth Financial, First Nations Carbon Summit, AFOA Canada, Saskatchewan Solar Co-Op, and many others.

CCUA: The Canadian Credit Union Association serves as a valuable partner and stakeholder, with multiple working groups dedicated to sustainability. Through these collaborations, Innovation FCU shares insights and learns from other Canadian credit unions about approaches to sustainability and evolving regulatory requirements.

Innovation FCU’s next step is to intentionally integrate discussions around its areas of impact and strategic targets with these groups.

How did Innovation FCU identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2023-2024 PRB Self-Assessment Report Innovation FCU reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Innovation FCU’s Indigenous Connector Group employs various strategies to engage Indigenous peoples and communities. One such approach is Banking Days, during which the Innovation FCU team travels to remote communities and reservations to collaborate directly with community members on financial education and assist with establishing basic banking services. The Connector Group also cultivates direct relationships with Indigenous economic development corporations, Nations, and entrepreneurs. While other financial institutions are closing remote branches, Innovation FCU is committed to opening them in areas with limited or no access to financial services.

Specific Claims Financing offers First Nations bands the capital necessary to pursue specific claims with the federal government. These claims relate to the fulfilment of historic treaties and other agreements. This specialized financing product does not encumber the Nation, and Innovation FCU conservatively estimates that the three bands currently engaged with the program will save over $30 million compared to traditional legal routes. These savings contribute to long-term sustainability and positive impacts for the communities.

Innovation FCU has also developed a ‘no questions asked’ emergency overdraft program for remote and northern communities affected by wildfires. This initiative provides members with peace of mind as they navigate the challenges posed by these natural disasters.

Innovation FCU supports members in accessing programs such as the Energy Efficient Home Renovation Loans in collaboration with CMHC (Canada Mortgage and Housing Corporation) and the CMHC Green Home program. These initiatives enable eligible members to receive a refund of up to 25% of the loan premium. Additionally, Innovation FCU assists members in participating in the Auto Loan for Zero-Emission Vehicles Incentive, offered through the Government of Canada, which provides incentives of up to $5,000 for qualifying zero-emission vehicles (ZEV).

Innovation FCU has partnered with NEI Investments, Canada’s leading provider of Responsible Investment (RI) solutions, to create a positive impact for investors, partners, and society at large. NEI offers Canada’s most diversified selection of actively managed RI funds, advised by top institutional money managers and overseen by NEI’s propriety Investment Management, Asset Allocation, and Environmental, Social, and Governance (ESG) teams.

Innovation FCU’s Young Farmers Financing Program supports new farmers under 40 in entering an industry that is often challenging to break into without a farming background. The program offers preferred rates and enhanced flexibility in credit access for start-up farmers with higher risk profiles and low equity. This initiative helps promote greater diversity and opportunity within the farming sector, while also contributing to food security and fostering innovation.

In addition, Innovation FCU makes direct investments in green and sustainable projects, such as the Saskatchewan Solar Co-Opp and the Water Equity Fund.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Innovation FCU, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.innovationcu.ca/content/dam/innovationcu/en/resources/2023-principles-responsible-banking-self-assessment.pdf

Note to Innovation FCU: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Bank Jago recognizes the significance of cultivating strong and effective relationships with its diverse stakeholders. These include employees, customers, shareholders, suppliers, business partners, the broader community, and regulatory authorities. The bank is committed to promoting open and transparent communication with all these groups, aiming to build mutually beneficial partnerships.

How did Bank Jago identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Responsible Banking Progress Statement Bank Jago reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Bank Jago is dedicated to responsibly working with clients and customers to address significant social and environmental impacts. The bank is continuously refining its approach to sustainability and sustainable practices by aligning its products and services with principles that promote a healthy and inclusive economy.

Understanding that this is an ongoing journey, Bank Jago intends to further develop action plans, strengthen monitoring systems, and improve internal policies to incorporate environmental, social, and governance (ESG) criteria into its decision-making processes.

Updates on these strategies, along with details on progress and key achievements, will be shared in Bank Jago’s upcoming reporting statements, demonstrating the bank’s commitment to fostering resilient and inclusive economies.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Bank Jago, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://assets.jago.com/web-assets/public/Sustainability Report – 2024.pdf

Note to Bank Jago: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

İşbank actively collaborates with a diverse range of stakeholders, including clients, employees, investors, and the broader society. As part of its sustainability initiatives, the bank conducts a materiality analysis by engaging both internal and external stakeholders to identify its key sustainability priorities. This process aligns with the AA1000 Stakeholder Engagement Standard.

Stakeholder groups involved in this process include employees, customers, investors, non-governmental organizations, industry associations, international organizations, financial institutions, subsidiaries, business partners, public agencies, suppliers, and academic institutions. İşbank collects feedback through online surveys to understand stakeholder perspectives on critical issues and to gauge their expectations regarding the bank’s sustainability efforts.

The materiality analysis is reviewed annually and updated as needed. In identifying material issues, İşbank adheres to the European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG), IFRS S1 (General Requirements for Disclosure of Sustainability-Related Financial Information) issued by the International Sustainability Standards Board (ISSB), and the Global Reporting Initiative (GRI) Standards.

The bank’s materiality assessment follows a “double materiality” framework, considering both the potential impacts of issues on business strategies and their financial and non-financial consequences. Each material issue is assessed for its financial and reputational risk to the bank, as well as its effect on relevant stakeholders.

For a detailed list of İşbank’s material issues, please refer to the “Prioritization Process at İşbank” section in İşbank’s Integrated Annual Report 2024.

Additionally, İşbank actively participates in various sustainability initiatives and maintains memberships in several organizations. The bank is a member of the Global Compact Turkey Sustainable Banking and Finance Working Group, which promotes sustainability within the Turkish financial sector and encourages the private sector to mobilize financial resources toward achieving the Sustainable Development Goals. A complete list of initiatives supported by the bank can be found in the “Supported Initiatives” section of İşbank’s Integrated Annual Report 2024.

How did İşbank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Responsible Banking Progress Statement İşbank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

İşbank supports the green transformation of its customers through its diverse range of products. The bank promotes green and sustainable development by offering financing solutions that facilitate the transition to a zero-carbon economy, including renewable energy projects, energy efficiency initiatives, and resource efficiency.

Some examples of these products, services, and sustainable offerings include:

• The European Fund for Southeast Europe S.A. (EFSE), in collaboration with Finance in Motion GmbH (FiM), a German financial institution, is funding a joint project aimed at the agricultural sector in Türkiye. This project involves assessing the carbon footprint of wheat, barley, sunflower, and corn producers. Additionally, İşbank has supported financing for various training sessions, farmer meetings, and İmece Workshops designed to promote sustainable agriculture among bank employees and producers within the agricultural ecosystem. As part of the second phase of the project, carbon footprint measurements for 25 agricultural products have commenced.
• Water Management Platform / Blueit
  The Blueit Water Efficiency Package has been provided to SME customers to ensure efficient water use and effective management in commercial and industrial facilities. This service enables real-time water consumption monitoring, remote control, and technical support. It was also designed to generate commission income as part of İşbank’s Marine Conservation Loan.
• Twin Transition Journey for 100 SMEs
  One of İşbank’s key initiatives with SMEs is the ‘Twin Transition Journey for 100 SMEs,’ a project implemented in collaboration with the MEXT Technology Centre. Its goal is to enhance the productivity of SMEs, boost their competitiveness on the global stage, and support their digital and green transformation processes. The project has already commenced for 100 companies, progressing at various stages of maturity according to the planned schedule. To date, 98 companies have completed the SIRI analysis, and 77 have completed the COSIRI analysis.
• IoT Technology Solution / Vodafone Red Energy Project
  The IoT Technology-Based Energy Efficiency Package was provided to SMEs within the bank’s portfolio for a duration of 12 months. This solution allows companies to monitor and manage their energy consumption data in their factories or production facilities via a single platform. The package has been allocated to several companies, generating commission income. In partnership with Vodafone Red Energy IoT, devices were installed in 112 companies, enabling real-time energy consumption tracking and identification of savings opportunities.
• Carbon Emission Measurement Project / Captanomy
  The Carbon Emission Measurement Project, developed in partnership with Captanomy, allows SME customers to measure their carbon emissions and compare sectoral emission data. The platform enables companies to calculate their emissions by inputting their own consumption data. It provides an easy-to-use tool for instant carbon footprint calculations in accordance with ISO 14064 Standards, without requiring technical expertise, and allows for reporting when needed. It is also possible to analyze the position of the company in terms of carbon emissions compared to the sector average. Companies utilizing green loans are eligible to access the platform free of charge. As part of this initiative, 114 companies have been granted platform memberships through Captanomy.
• İşbank’s 100th Year Bill
  İşbank’s “100th Year Bill”, the first green bill issued in Turkey to mark the bank’s centennial, was launched with a ceremonial gong event at Borsa İstanbul. The bank issued TL 4.5 billion worth of green bills, marking a significant milestone in its green transformation and environmental responsibility efforts, and reinforcing its pioneering role in Türkiye’s capital markets. The 126-day maturity transaction, set to mature on August 26, 2024—coinciding with the bank’s 100th anniversary—has also been recognized as the largest public offering of green debt instruments in Turkish financial history.
• Sustainability-Linked Syndication Loans
  In June 2024, İş Bankası secured a sustainability-linked syndication loan totalling USD 442 million and EUR 562.7 million, with a maturity of 367 days. The key performance indicators (KPIs) for this loan focus on the volume of cash credits provided to women-owned or managed SMEs and small-scale farmers. The bank periodically reviews the sustainability criteria associated with these syndication loans, considering creditor feedback and its own strategic priorities. If necessary, new structures and features may be introduced.

Additionally, in November 2024, the bank secured a syndication loan with a maturity of 371 days, amounting to USD 584.5 million and EUR 494.9 million, structured as a sustainable loan rather than a sustainability-linked loan. While this structure does not include KPIs, the funds will be used to support green and social initiatives in line with the terms outlined in the agreement and the bank’s Sustainable Finance Framework.

• Solar Power Plant (SPP) Pre-Feasibility Project / Solarvis
  The Pre-Feasibility Preparation Panel, designed to meet the specific data needs of companies planning to invest in Solar Power Plants, enables businesses to estimate the average costs of their investments and determine the payback period. This tool is provided free of charge to customers via the bank’s website. Between April 2023 and March 2025, the panel received 1,417 visits. By inputting basic details such as roof slope and location, companies can access information on investment costs and amortization periods for potential renewable energy investments.
• EPC Cooperation / Solar Roof
  In collaboration with Solar Roof, a leading Engineering, Procurement, and Construction (EPC) company known for delivering turnkey solar energy projects, İşbank offers its customers discounts on the company’s standard sales prices. This benefit applies to clients who receive Solar Energy System (GES) installations and finance these projects through İşbank’s Solar Loan.
• Initiatives in Agricultural Banking
  • The İmeceMobil application, available for free download, offers farmers support in financial literacy, digital skills, and agricultural practices. It also provides information on good farming techniques and access to technological solutions that promote sustainable agriculture. By the end of 2024, the application had reached 300,000 users.
  • The inaugural session of the İmece Workshops series focused on ‘Water,’ addressing key topics such as efficient water use, wastewater recycling, and managing water in agriculture with new technologies. İşbank considers the ‘İmece Workshops’ series, which brings together important stakeholders in the agricultural ecosystem, to be highly valuable for the benefits the bank aims to deliver to the agricultural sector.
  • Through the ‘Digital Agriculture Solution’ developed in partnership with Vodafone, İşbank strives to reduce the use of inputs like fertilizers, pesticides, and water. The project’s recommendations helped farmers achieve an economic benefit of TL 692.5 million in 2024.
  • Favourable financing packages are available for women farmers and women’s cooperatives. In 2024, TL 1.7 billion was disbursed to women farmers.
  • Over 33,000 farmers have been engaged through initiatives such as Farmer Meetings and Agricultural Banking Awareness Seminars at universities to enhance awareness. In 2024 alone, 4,700 farmers participated in these events.

Additionally, İşbank offers financing support through various specialized loans: the Roof Solar Power Plant Loan for self-consumption investments in roof, facade, and land-based unlicensed solar power plants; the Electric Charging Station Installation Loan, aimed at fostering the growth of the electric vehicle industry and making charging units more accessible to vehicle owners; the Marine Conservation Loan, designed to provide financial assistance to commercial customers who generate wastewater in their production processes and seek to efficiently utilize water resources while preventing or reducing sea pollution incidents; and the Unlicensed Electricity Production Loan, which supports renewable energy-based electricity generation—such as solar and wind—with an installed capacity of up to 5 MW. Businesses planning to invest in wastewater treatment and recycling facilities or upgrade existing systems can also meet their financing needs under favourable terms with this product.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by İşbank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.isbank.com.tr/bankamizi-taniyin/Documents/yatirimci-iliskileri/raporlarimiz/prb/PRB2024.pdf

Note to İşbank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

At Wema Bank, stakeholders play an essential role in advancing the bank’s sustainability initiatives. Wema Bank has recognized its key stakeholder groups as investors and shareholders, employees, customers, suppliers and vendors, local communities, partners such as NGOs and social enterprises, government and regulatory bodies, and the media. Ongoing engagement with these groups enables Wema Bank to identify their priorities and gather valuable insights to effectively address their concerns. Collaborating with stakeholders also helps the bank achieve its strategic objectives.

Wema Bank’s stakeholder engagement activities are customized to suit each group, ranging from formal meetings to informal interactions. Through these engagements and its dedication to enhancing lives and creating value for stakeholders, Wema Bank focuses on prioritizing and improving the key areas identified.

Wema Bank’s stakeholder engagement processes and materiality matrix are clearly articulated in its report.

How did Wema Bank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Report Wema Bank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

1. Microlending: Wema Bank has expanded access to financial services and loans for underserved populations through microloans accessible via USSD. This initiative promotes financial inclusion, supports economic growth, and helps reduce inequality.
2. Impact Financing: Wema Bank has increased its focus on green financing by offering loans and financial products that support environmentally sustainable projects. This includes funding for renewable energy initiatives, energy-efficient infrastructure, and sustainable agriculture.
3. Sustainable Development Goals (SDGs) Alignment: Wema Bank’s business strategy is closely aligned with the SDGs, ensuring that its lending and investment decisions contribute to sustainable development. The bank prioritizes projects that generate positive social and environmental impacts.
4. Environmental and Social Risk Management: Wema Bank has implemented comprehensive and robust environmental and social risk management frameworks to assess and mitigate potential negative impacts of its lending and investment activities. This includes conducting environmental impact assessments for high-risk projects and promoting sustainable practices among clients, ensuring that its business operations contribute positively to society and the environment.
5. Stakeholder Engagement: Wema Bank actively engages with stakeholders—including customers, employees, and community members—to understand their needs and expectations. This collaborative approach helps the bank identify new opportunities for positive impact and make sure that its initiatives are aligned with societal goals.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Wema Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://wemaprodstorage.blob.core.windows.net/report-upload/638991399040206013_2024_sustainability_report_Wema_Bank.pdf

Note to Wema Bank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Proactively and responsibly engage, consult, and collaborate with stakeholders to support the achievement of the bank’s objectives.

BOAD is committed to listening to the expectations of its stakeholders. The bank actively engages with key stakeholders, including member countries, the private sector, investors, employees, and regulators. Their insights are vital for understanding the impacts, risks, and opportunities related to the sustainability issues BOAD addresses.

In 2023, the bank conducted a stakeholder consultation to update its materiality matrix and develop its CSR strategic plan for 2025-2029. This process offered an opportunity to review and refresh previously identified issues and to reassess their relevance from the stakeholders’ perspectives.

For the questionnaire on the bank’s economic performance, BOAD collaborated and consulted with the following stakeholders:

• BOAD management (President, Vice-presidents, President’s advisors, directors, deputy directors)
• Ministry members
• Other stakeholders (clients, ministry officials, companies, and business leaders)

For the stakeholder priorities questionnaire, the panel consisted of:

• Employees at headquarters and resident missions
• Internal consultants
• Public companies
• Financial institutions, private sector enterprises, local authorities, SMEs, VSEs, artisans, and others

Regarding suppliers and service providers, efforts are currently underway to develop a responsible purchasing policy that will set out the standards and expectations they must adhere to. In its dealings with suppliers, the bank commits to:

• tirelessly combating all forms of corruption and illicit commercial activities, such as plagiarism, counterfeiting, dumping, and others
• guaranteeing the fulfilment of all contractual obligations, ensuring they are fair and equitable
• considering the expectations of partners, beneficiaries, and suppliers, and prioritizing the swift resolution of complaints and disputes
• ensuring that it does not collaborate with partners whose practices lack responsibility
• actively promoting Corporate Social Responsibility within its areas of influence

Regarding media engagement, including podcasts, interviews, and contributions to articles;

In terms of partnerships, BOAD is actively involved in the Task Force on Nature-related Financial Disclosures (TNFD) and the Task Force on Climate-related Financial Disclosures (TCFD). The bank is also accredited to three financial mechanisms: the Green Climate Fund and the Adaptation Fund under the United Nations Framework Convention on Climate Change (UNFCCC), as well as the Global Environment Facility (GEF) under five conventions, including the Convention on Biological Diversity (CBD), the UNFCCC, the Stockholm Convention on Persistent Organic Pollutants, the United Nations Convention to Combat Desertification (UNCCD), the Minamata Convention on Mercury, and the Agreement on Biological Diversity Beyond the Limits of National Jurisdiction (BBNJ).

BOAD has become a member of the Finance In Common Coalition (FICS) on Gender, which is co-chaired by UN Women and the African Development Bank (AfDB). Through this partnership, BOAD is dedicated to collaborating with other member development banks and financial institutions to enhance coordination and mobilization efforts in support of combating gender inequality and promoting the empowerment of women and girls within the global financial system. This new commitment marks a significant advancement in the institution’s efforts to implement transformative gender policies at both the institutional and organizational levels.

BOAD and Africa50 have partnered to develop and co-finance green infrastructure across Africa. A formal agreement has been signed to attract capital from institutional investors for African infrastructure projects and to identify initiatives suitable for co-financing. As part of this collaboration, both organizations have reaffirmed their commitment to work together on financing and developing bankable projects, including climate-resilient infrastructure, to promote sustainable growth and support the energy transition in African nations.

In August 2024, BOAD successfully raised €100 million to support climate change mitigation initiatives in West Africa by subscribing to the first hybrid bond issued by a multilateral bank specifically dedicated to this purpose.

BOAD is also currently exploring the possibility of joining the Equator Principles, the Poseidon Principles, and the Global Compact.

How did BOAD identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Annual Report BOAD reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

In a context where social and environmental responsibility is increasingly vital for growth and differentiation, BOAD is proactively identifying and developing strategic business opportunities that aim to maximize positive impacts while minimizing negative externalities.

As part of this approach, the bank has received a €506 million guarantee from the Multilateral Investment Guarantee Agency (MIGA). With a maximum duration of fifteen years, this guarantee is a crucial tool for securing financing for projects with significant environmental and social impacts. It mitigates the risk of default by a regional development bank, thereby enhancing investor and financial partner confidence in BOAD’s commitment to sustainable development.

This initiative highlights the international recognition of BOAD’s strategic role as a key player in development financing within the WAEMU region. BOAD remains dedicated to implementing sustainable and innovative financial solutions that turn challenges into opportunities for shared growth.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by BOAD, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://admin.boad.org/wp-content/uploads/2025/08/RAPPORT-BOAD-PRB-ANG.pdf

Note to BOAD: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Garanti BBVA incorporates the concerns of its stakeholders—customers, employees, shareholders, investors, suppliers, regulators, auditors, and society at large—on social and environmental issues, diversity, fiscal responsibility, human rights, and the prevention of corruption and other illegal activities into its business strategies, operations, and activities. The bank maintains ongoing dialogue with its external and internal stakeholders through various channels, and key issues are prioritized based on the feedback and insights gathered from these engagements.

The bank has consistently been actively involved in numerous initiatives, working closely with all stakeholders. These initiatives focus on the following priority areas:

• Global Frameworks: Garanti BBVA and the BBVA Group are among the banks involved in establishing, promoting, and supporting the UNEP-FI Responsible Banking Principles. In 2023, Garanti BBVA also joined the main group responsible for shaping the 2030 strategy of the UNEP FI Responsible Banking Principles.
• Climate Commitments: Garanti BBVA is a member of the Net-Zero Banking Alliance supported by UNEP-FI, aligning its operations with the goals of the Paris Climate Agreement.
• Market Standards: The bank supports key standards such as the Equator Principles, ICMA’s Green Bond Principles, Social Bond Principles, LMA’s Green Credit Principles, and the EU Taxonomy, among others, developed by the banking sector.
• Transparency: Garanti BBVA publishes an integrated activity report aligned with the Turkish Sustainability Reporting Standards and includes a GRI Standards index.
• Regulatory Engagement: The bank actively participates in consultative and advisory processes with regulatory and supervisory bodies, including the Ministry of Environment, Urbanization and Climate Change and the Banks Association of Turkey, to support the development of sustainable finance regulations.

For over a decade, Garanti BBVA has actively engaged in various transnational initiatives. Besides its commitment to the United Nations Global Compact and its status as a signatory of the UNEP FI, the bank has been involved in numerous sustainability-focused initiatives since 2012. It is a member of several working groups, including the United Nations Net-Zero Banking Association (NZBA), the United Nations Responsible Banking Principles Working Group, the Global Compact Turkey Group, SKD Turkey (Business World and Sustainable Development Association), the Banks Association of Turkey (TBB), the Role of the Financial Sector in Sustainable Growth Working Group, and the Turkish Industrialists’ and Businessmen’s Association (TÜSİAD) Environment and Climate Change Working Group. Throughout these efforts, Garanti BBVA maintains close cooperation with all key stakeholders—including industry players, regulators and supervisors, investors, and civil society organizations.

How did Garanti BBVA identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Impact Report Garanti BBVA reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

In 2024, one of Garanti BBVA’s key strategic priorities was the development of sustainable solutions, driven by the following growth levers:

• Formulating sector-specific strategies for clients, with a focus on promoting the adoption of low-carbon technologies across energy-intensive industries, utilizing the bank’s advisory expertise in relevant areas.
• Expanding the business by creating targeted products that address specific issues and incorporate more ESG criteria, such as inclusive growth through infrastructure projects and sustainability-linked loans.
• Setting ambitious targets to accelerate business growth by leveraging digital capabilities, offering innovative and disruptive value propositions in selected verticals.
• Financing emerging sustainable technologies by revising existing sustainable finance standards to include innovations like hydrogen batteries, carbon capture, utilization, and storage (CCUS) technologies.
• Enhancing risk management capabilities and implementing automated reporting processes to adopt data-driven analytics in the sustainability arena.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Garanti BBVA, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.garantibbvainvestorrelations.com/en/images/pdf/GBFR24_ENG_App6.pdf

Note to Garanti BBVA: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

The BNK Financial Group has identified six key stakeholder groups in order to communicate effectively with stakeholders who influence management activities, and is engaging with them by diversifying communication channels for each stakeholder group. Additionally, as part of impact analysis, a quantitative assessment involving both internal and external stakeholders is conducted annually in the double materiality assessment process to incorporate the opinions of various stakeholders.

• Customer

– Definition: Group that uses financial products and services and wields influence, including individual customers and corporate customers.

– How to communicate and collaborate: The BNK Financial Group actively seeks feedback through various channels to enhance customer’s satisfaction by improving the quality of its products and services. In particular, the BNK Financial Group is gathering feedback from customers by recruiting them to participate in panel surveys and submitting necessary improvements related to the Group’s banking services on a regular basis. Busan Bank has completed the implementation of 57 out of 93 improvement proposals received from the customer panel in 2023.

• Stockholders and investors

– Definition: Group that wields influence on decision making for sustainable growth, including stockholders and investors.

– How to communicate and collaborate: In response to the growing interest of stockholders and investors in the sustainability of BNK Financial Group’s business structure and concerns about the greenwashing risk of green products and services, the Group is committed to providing transparent disclosure of information and proactive communication. Therefore, the BNK Financial Group is enhancing the trust of stockholders and investors by disclosing not only financial and stock information but also risk and opportunity factors related to climate change and corresponding strategies, current status of green finance such as sales performance and investment amounts, and social contribution efforts including types and budgets of support for low-income individuals and financially vulnerable groups.

• Government and supervisory agencies

– Definition: Group that leads the role of corporate social responsibility to strengthen the financial industry’s competitiveness, including Government, National Assembly, and Financial Supervisory Service.

– How to communicate and collaborate: The government and supervisory agencies are establishing relevant policies and guidelines to enable financial companies to execute an important role in the transition to a sustainable economy. In 2021, the Financial Supervisory Service published a guideline for financial companies, ‘Guidelines for Climate Risk Management’, for a sound climate risk management system. The BNK Financial Group  has established a governance structure for responding to climate change, measured climate risks, and established appropriate response strategies using this guideline as a reference. In accordance with the TCFD recommendations, the Group has transparently disclosed information on climate risk. Additionally, the BNK Financial Group is transparently reporting materials related to ESG finance and ESG management as required by the financial authorities and the Korea Federation of Banks.

• Employees

– Definition: Agent for realizing vision and value to achieve the corporate management goal, including staff and labor union.

– How to communicate and collaborate: The BNK Financial Group operates communication and harmony programs joined by all employees to spread the core values of the Group and improve the sense of membership. During the first half of 2023, all employees held a proposal for what they hoped for from BNK Financial Group. A total of 175 employees submitted 209 suggestions. Furthermore, the BNK Financial Group is operating a labor union and regularly holding HR meetings to establish cooperative and productive labor-management relationship.

• Local society

– Definition: Group that shares pending issues of the community and cooperates to resolve them, including local society, environmental organizations, press, and academia.

– How to communicate and collaborate: The local community is the foundation of BNK Financial Group, and under the management ideology of ‘To the World with the Region’, the BNK Financial Group seeks to promote the local economy. The Group aims to achieve mutual growth with the region by supporting promising ventures and startups within the locality and providing financial support for core regional industries. The BNK Financial Group is leading efforts to create job opportunities for the youth in the region to address the risk of local extinction due to the decline in the young population by intensifying financial support for job-creating enterprises and discovering and supporting local talent.

In addition, the BNK Financial Group is participating in various global initiatives. The Group discusses sustainability agendas such as climate change and human rights, and strives to manage the impact of its business effectively according to global standards.

• UNGC (United Nations Global Compact) Joined in July 2020

• CDP (Carbon Disclosure Project, Capital Market Signatory) Joined in May 2021

• TCFD (Task Force on Climate-Related Financial Disclosures) Joined in May 2021

• UNEP FI (United Nations Environment Programme Finance Initiative) Joined in March 2022

• PCAF (Partnership for Carbon Accounting Financials) Joined in March 2022

• SBTi (Science Based Targets initiative) Joined in March 2022

How did BNK Financial Group identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Reporting and Self-Assessment Template BNK Financial Group reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

BNK Financial Group develops and provides sustainable financial products to encourage customers’ sustainable economic activities while simultaneously improving its business structure and portfolio.

• ESG Fund – Climate change mitigation / SDG 7 Affordable and clean energy, SDG 12 Responsible consumption and production, SDG 13 Climate action

The BNK Financial Group is selling ESG fund products to enhance increase positive impact on the environment and society while pursuing stable profits. ESG fund products that comply with responsible investment policies are not only supporting companies with excellent non-financial factors such as environmental, social, and governance but also contributing to securing funding channels for companies that provide products and services related to the transition to a low-carbon society, such as solar power and EVs. In 2023, the Group sold and managed 42 products, including BNK Sustainable ESG Securities Investment Trust No. 1., amounting to 412.5 billion KRW.

• ESG Bonds – Climate change mitigation, Financial inclusion / SDG 1 No poverty, SDG 8 Decent work and economic growth, SDG 7 Affordable and clean energy, SDG 12 Responsible consumption and production, SDG 13 Climate action

The BNK Financial Group has established an ESG bond issuing management system for the systematic management of the entire process from issuance of ESG bonds to follow-up monitoring. This management system is structured to comply with the Green Bond Principle, Social Bond Principle, Sustainability Bond Guidelines of the International Capital Market Association (ICMA), consisting of content related to the use of funds, evaluation and selection of target businesses, fund management, and follow-up reporting. Funds procured are used in producing renewable energy, expanding green transportation, reducing greenhouse gas, supporting basic livelihood for vulnerable groups, and revitalizing local economy. In 2023, ESG bonds of 290 billion KRW were issued, and 3,175.4 billion KRW was invested in ESG bonds.

• Financial products for low-income individuals and financially vulnerable groups – Financial inclusion / SDG 1 No poverty, SDG 8 Decent work and economic growth

The BNK Financial Group provides various products and services to maximize positive impact through coexistence with small business owners and financially vulnerable groups, fulfilling its social responsibility as a regional bank. For loan products, the Group offered loans such as New Hope Spore Loan and Sunshine Loan Bank to improve loan accessibility for customers with low-credit score. For deposit products, the Group sold savings products like BNK Hope Cultivation Savings and Hope-gathering Savings, which provide high interest rates to help vulnerable groups to accumulate their funds. For card products, the Group has launched the specialized products for multi-child families such as the Multi-Children Love Card, the Braille Card for the visually impaired, the Citizen Happiness Card which can be used for various national vouchers, the ‘Happy Tomorrow Card’ to support vocational high school students in preparing for employment, and the youth support cards to provide activity and operation expenses to young people seeking jobs. As of the end of 2023, the balance of mutual benefit loans for low-income individuals was 2.3065 trillion KRW, the deposit balance was 2.0006 trillion KRW, and the card performance was 1.085 trillion KRW. Additionally, the loan balance for local small businesses was 1.0251 trillion KRW, and the deposit balance from local residents was 585.2 billion KRW.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by BNK Financial Group, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://eng.bnkfg.com/05/04.jsp

Note to the BNK Financial Group: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Socredo participates in a wide range of committees, initiatives, and partnerships involving both the private and public sectors, as well as civil society through its involvement with associations. Through these channels, Socredo engages on numerous topics relevant to the implementation of the PRB within its work and actions. Issues such as climate change, biodiversity, inclusion, and equality are frequently addressed to explore solutions, understand critical challenges, and deepen its knowledge.

Socredo recognizes that its employees and Board members are both sustainability ambassadors and key stakeholders. By participating in workshops, conferences, and representing the bank on committees and external missions, they share their expertise and acquire new skills. These experiences help enhance practices and strengthen Socredo’s sustainable strategy. Here are some examples of how their engagement supports and advances Socredo’s approach:

• During the “Je Marche Pour La Planète” month organized in September 2024, over 20 Sustainable Development ambassadors contributed to a variety of activities to share knowledge on eco-friendly practices (e.g., learning to make homemade eco-friendly laundry detergent); participated in a walking challenge to raise awareness about health issues; engaged with local actors involved in ecological transition through themed conferences; and organized weekend initiatives such as beach clean-ups.
• During the Carbone 4 onsite mission, 70 employees took part in workshops. Based on their ideas and reflections, they helped shape the bank’s Action Plan.
• The Management and Sustainable Development Department participates in the Regional CEC (Business Convention for Climate), which brings together various local stakeholders to collaboratively develop sustainable solutions for the territory. This platform encourages joint thinking on sustainable initiatives for Socredo’s Fenua, draws inspiration from global practices, and strengthens efforts through partnerships and exchanges with other regional actors.
• An executive director of the bank serves on the Board of CESEC (the Economic, Social, and Cultural Counsel of French Polynesia), playing a direct role in shaping national policies that benefit and protect all citizens.
• A member of the Executive Committee is the chairwoman of FACE (Foundation Act Against Exclusion), actively involved in developing inclusion initiatives and promoting social equity in French Polynesia.
• Executive senior managers participate in the Polynesian branch of MEDEF (Movement of French Companies) to collaborate with other private sector stakeholders and influence policymakers on key industry issues.
• Over the past year, the Sustainable Development team has undergone training provided by the CCISM (Chamber of Commerce and Industry of the Overseas Society) to learn how to conduct a carbon footprint assessment.
• 100% of new staff members completed a training session on Sustainable Development.

Public institutions, organizations, and associations are key stakeholders for Socredo. Engaging with them promotes change and offers valuable insights from the frontlines. Here are some examples of how Socredo engages with them:

• As a founding member or major shareholder of local associations such as FACE and ANAVAI (a crowdfunding platform), Socredo benefits from these partnerships in multiple ways. These collaborations enable the bank to amplify its message and advance financial inclusion, while also gaining valuable insights from their field activities.
• Socredo partners with impactful organizations such as:
  • Aoa, which is dedicated to restoring and protecting French Polynesian biodiversity. Through this partnership, Socredo is actively involved in raising awareness among real estate developers about the environmental impact of land clearing for new construction. The goal is to encourage them to consider and incorporate these ecological dynamics into their projects. As part of this collaboration, Socredo proposes a ‘compensation’ initiative where, for every square meter built, the developer contributes a specific amount of money to Aoa. This contribution covers half of the cost, with the bank covering the remaining half.
  • Other associations, public institutions, and private actors, which, in exchange for partnership, share their expertise with Socredo through conferences, workshops, or internal training sessions. An example of this is the installation of a worm composting system at one of the bank’s branches.
• At the request of the University of French Polynesia, Socredo assisted in designing and developing courses for a new Sustainable Development program. The bank contributed by integrating local business needs and expectations to train a new generation of skilled professionals directly within the territory.
• Through the French Polynesian government’s Fare Ora (Home for Everyone) initiative, which streamlines administrative processes on remote islands, Socredo will expand its reach to a broader client base. By partnering with this program, the bank enhances its capacity to serve underserved communities, providing access to essential banking products and services that were previously unavailable.

Finally, Socredo positions its clients as direct stakeholders. The bank highlights and supports MSMEs with innovative or environmentally beneficial initiatives to promote sustainable alternatives and responsible consumption. Additionally, Socredo actively engages with its clients by providing tailored advice to guide them toward more virtuous choices, a commitment further strengthened through the implementation of the MATIE sheet.

Through these various engagements, Socredo aims to involve all stakeholders, from policymakers to clients, in driving rapid change to address climate issues and promote inclusion at every level. In the long term, the bank aspires to establish itself as a central hub for the Fenua’s activities, fostering a virtuous cycle through its positive impact financing initiatives and emerging as the key player in sustainable development in French Polynesia. Investing in Socredo will thus be recognized as a mark of quality and a commitment to resilience.

How did Socredo identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Reporting and Self-Assessment Template Socredo reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

The impact analysis conducted for Socredo’s carbon footprint identified the most impactful sectors. Mortgage, real estate, and transportation loans are primary contributors, driven by the high carbon intensity of energy in French Polynesia and reliance on imported materials.

These challenges present significant opportunities for local stakeholders. With the goal of helping Polynesians reach a target footprint of 5.5 tCO2e per inhabitant per year by 2030, Socredo must guide its clients by demonstrating that the transition is an opportunity rather than a constraint. Socredo has a responsibility to provide support through advisory services and financial incentives. It is Socredo’s role to promote and support the development of clients as key players in French Polynesia’s decarbonization efforts. Refinancing is also a crucial aspect of maintaining the economic performance of Socredo. The bank is currently working on identifying funds that could support its strategy in this area.

Reducing the negative impacts of Socredo’s financings involves assisting clients in lowering their own environmental impacts. Since the implementation of the MATIE sheet in 2019, the proportion of “reserved” reviews decreased to 0% of files studied in 2023. Discussions during the review process and with clients have proven effective in addressing and mitigating negative impacts. Socredo aims to keep this share as low as possible, despite stricter conditions and an increasing number of files studied.

Additionally, Socredo is developing a strategy to identify projects earlier in their development stages. This will enable the bank to support projects from the outset, guide them toward appropriate sustainability assistance, and incorporate environmental considerations more quickly. This proactive approach will also focus on identifying and engaging with promising, impactful initiatives to help bring them to fruition—whether through favourable financing options or by connecting them with key stakeholders.

To foster a fairer society and promote greater equality among Polynesians, thereby contributing to long-term sustainability, Socredo is committed to further developing its financial inclusion initiatives. This will be achieved through some of the following levers:

• Increasing the share of clients subscribing to the Fragile Customer Offer. As of the end of 2023, 313 clients had subscribed, representing 39% of eligible clients.
• Raising the equipment rate among inclusive customers to 70% within Socredo’s adapted products and service packages.
• Installing bank terminals in areas where Socredo is not currently represented, with a target of deploying 10 new terminals by 2028.
• Expanding digital services to ensure equitable access for all, regardless of location. In 2024, Socredo introduced electronic signatures to minimize travel, reduce transport-related emissions, and serve remote customers more efficiently. This goal will be further supported by the continued expansion of the e-Agency platform, enabling customers to access all banking services online.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Socredo, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.socredo.pf/uploads/documents/cards/unep-fi-self-assessment-2024-version-definitive-677460bb6e7d4480506080.pdf

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