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.

Şekerbank conducts an annual prioritization analysis to identify topics that align with high stakeholder expectations and areas where it can make a meaningful impact, while also reviewing its current list of priority topics. This dynamic and collaborative process draws on the insights of numerous stakeholders, as well as relevant regulations, standards, corporate strategies, and key developments on the global agenda. In 2023, Şekerbank’s topics, assessed using the ‘double materiality’ approach, were categorized into three tiers: priority, high priority, and very high priority. For the 2023 Double Materiality Analysis included in its report, Şekerbank engaged both internal and external stakeholders. The bank employed the impact assessment tools provided by the United Nations Environment Programme Finance Initiative (UNEP FI) and the online ENCORE platform (Exploring Natural Capital Opportunities, Risks, and Exposure). The evaluated topics, which received consensus, were incorporated into the prioritization matrix.

Additionally, Şekerbank participated in the “Sustainability Sub-Working Group” meetings organized by the Turkish Banks Association (TBB), viewing these gatherings as valuable opportunities to share experiences and collaborate with stakeholders in the banking sector, leveraging its expertise in sustainable banking practices. Şekerbank also supported the 9th edition of the Sustainable Finance Forum, organized by SKD Turkey since 2013 and held at Borsa Istanbul in partnership with Global Compact Turkey. During the forum, Şekerbank’s Deputy General Manager and Co-Chair of the SKD Sustainable Finance and Risk Management Working Group, Fatma Nur Çetinel, moderated the panel titled “Meeting the Financing Needs of Earthquake-Affected Regions with Long-Term and Sustainable Resources.” Furthermore, Şekerbank’s Financial Institutions and Investor Relations Unit Manager participated in the panel on “Green Transformation and Sustainable Finance from the Perspective of Financial Institutions,” which was part of the “Credit Literacy Week” organized by the Credit Bureau (KKB).

Beyond its financial services, Şekerbank undertakes initiatives to raise its customers’ awareness of climate change. Şekerbank holds individual meetings with clients in its corporate and commercial segments to assess their sustainability performance. Additionally, through its developed software, Şekerbank enables interested clients to calculate and report their carbon footprint, supporting their sustainability efforts.

How did Şekerbank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 PRB Impact Report Şekerbank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Şekerbank is committed to conducting its sustainability-related risk and opportunity analyses with utmost integrity, ensuring that the information provided is comparable, verifiable, and clearly understandable. In identifying potential risks and emerging trends that could impact its future financial stability, Şekerbank incorporates key frameworks from the United Nations, the World Bank, and the Basel Committee, alongside national legislation, regulations, and academic research. To establish effective processes for monitoring, managing, and overseeing sustainability risks and trends, Şekerbank draws guidance from the principles outlined in the Standards published by the Sustainability Accounting Standards Board (SASB), specifically IFRS® Sustainability Disclosure Standards S1 and S2. Beyond climate-related risks—both transition and physical— Şekerbank has identified environmental, biodiversity, and social risks within the scope of Environmental, Social, and Governance (ESG) standards, which are fundamental to its sustainability approach. Şekerbank also monitors its green asset ratio and analyses how these risks could impact the bank’s business model and value chain across short, medium, and long-term horizons. The processes for identifying, assessing, and prioritizing these risks and trends are integrated into Şekerbank’s existing risk management frameworks.

In 2009, guided by the International Financial Corporation (IFC), a member of the World Bank Group, Şekerbank established its Social and Environmental Management System (SEMS), which has been continuously updated to align with evolving national and international regulations. As one of the first banks in Turkey to incorporate environmental and social considerations into lending decisions, Şekerbank has set industry standards by adhering to principles that promote sustainable banking. Its practices have served as benchmarks within the sector, fostering a culture of sustainability. To evaluate social and environmental risks, Şekerbank utilizes specially designed questionnaires, and verifies their effectiveness through field visits. SEMS applies across Şekerbank’s Project Finance, SME Banking, Agriculture Banking, Corporate, and Commercial Banking segments, ensuring proactive management of social and environmental impacts in all its lending activities, from SME to corporate loans (excluding individual loans), regardless of the loan amount.

Şekerbank’s environmental and social risk assessment guidelines are developed in accordance with the international data classification criteria based on the NACE codes established by the European Bank for Reconstruction and Development (EBRD). Customers are evaluated using a globally comparable classification system—A indicates high risk, B medium risk, and C low risk—providing detailed insights into their risk profiles. Şekerbank’s sustainability initiatives are supported by collaboration with its digital teams and the use of digitized processes. For example, the integration of the Environmental Business Certificate module into Şekerbank’s digital SET platform allows the bank to monitor, measure, and tailor services and products to meet its sustainability objectives effectively.

Furthermore, as part of its Responsible and Sustainable Banking approach, Şekerbank actively works to protect customer rights and prevent potential adverse effects. Şekerbank participates in the Cerise SPTF Client Protection Pathway, an international initiative, and has been audited by MicroFinanza Rating (MFR), authorized by Cerise SPTF. During the audit, Şekerbank engaged directly with its customers through focus group discussions to assess compliance, resulting in the bank receiving a gold certification for its efforts.

 

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/Sekerbank-PRB-Report-2024.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.