As Garanti BBVA, once again, we hosted the important names of the business world during the fifth Sustainability and Risk Management Workshop.
Opening speech of the event was performed by our Executive Vice President, Ebru Dildar Edin. Emphasizing the management of environmental and social risks in project management, Edin marked the importance of global trends on directing international funds towards sustainable investments and stated that foreign investors showed interest in the companies which performed successful strategies in these matters. Edin mentioned that the Responsible Banking Principles was published by United Nations this year and added: “We have participated in the preparation phase of these principles that were constituted jointly by 28 banks worldwide. We have shared our observations that we made there, the effects of principles, and expectations with everyone at the platforms that we are a member of, and at various working groups. As banks, we are transferring our resources to sustainable areas through different products and financial mechanisms that can keep up with this change. The best examples of this are green credits and social bonds.”
During her speech Edin also mentioned that digital risks, which gained more importance especially in the recent years and were referred at the World Economic Forum this year, were one of the most significant issues of the banking and finance industry. Reminding of the system failure at Borsa Istanbul and cyber-attacks in Europe, Edin noted that digital risks needed to become one of the most important criterion in project financing, and just like financing performance reports, requesting comprehensive reports, which contain similar issues that might be caused by new technologies, environmental and social effects, by the supervisory and regulatory authorities would contribute to the transformation in banking and finance industry. This topic was also addressed in the speech of Doğan Mersin, from N2Growth, titled “Effects of risks brought by digitalization on infrastructure and energy industry”. Within the workshop framework, “Trends on reporting non-financial matters” was discussed by Charbel Moussa, Senior Manager at KPMG Turkey, whose speech took place in the afternoon. Our Sustainability Director Derya Özet Yalgı focused on the “Effects of Responsible Banking Principles in terms of real sector” during her speech. Özgür Uzunoğlu from Akfen Renewables presented a “Case study on green financing alternatives in Turkey, through innovative environmental, social and governance practices”. Our workshop was concluded with the speech of Dr. Ceyhun Eren from Allianz on “Innovative practices and risk perception on sustainability in the insurance industry”.