Corporate Sustainability Governance
As Garanti Bank, we believe that the concept of sustainability must be embedded throughout our decision-making mechanisms and business processes to create value for our stakeholders. The Sustainability Committee, established for this purpose, is a Committee which formally reviews and approves the Bank’s activities related to sustainability and is chaired by a Board member. The Sustainability Committee meets regularly in order to monitor the progress of and to provide input to all sustainability efforts. The Committee is deliberately structured to integrate sustainability concerns and opportunities into all operations, products and services. In addition, this structure ensures all efforts are consistent with internal policies and related regulations. The Sustainability Committee’s role is to agree on strategic direction and action plans for the Bank. The Sustainability Committee meets to review and take decisions on recommendations raised by the Sustainability Team and functional representatives regarding sustainability related topics.
Sustainability Team is responsible for the daily coordination of the efforts undertaken under the main heading of sustainability at Garanti Bank. The fulltime Sustainability Team, which is based in the Project Finance Department, comprises 5 members including the Team Leader. Reporting regularly in the Committee meetings, the Sustainability Team presents the sustainability progress made to the Committee. Additionally, the significant development in the sustainability agenda is reported to the Committee members by the Team, or the Team receives approval regarding the process requiring approval from the Committee.
Regularly reporting to the Sustainability Committee, the Sustainability Team Works in cooperation with other units of the Bank in the process of putting the decisions into practice. Following the progress each week, the Team ensures the consolidation and assessment of sustainability data throughout the Bank within the scope of Bank’s objectives, and coordinates the gathering of information and data from other units. To date, there are more than 1,000 Sustainability Representatives in charge of working in coordination with the Sustainability Team in order to gather data and support the application of the decisions made by the Sustainability Committee in the units or branches where they work.
The Sustainability Committee is responsible for:
- Overseeing the efforts for assessing potential risks resulting from the Bank’s energy consumption, waste management, etc. and from the Bank’s direct impact upon the environment,
- Supervising the efforts for assessing potential risks arising from indirect environmental, social and economic impact resulting from financed projects and other loans, and providing necessary opinions to relevant decision-making parties,
- Monitoring the efforts for managing the risks which can negatively affect the Bank’s reputation and/or other activities in environmental, social and governance areas,
- Ensuring conformity of all decisions made and all projects carried
out within the framework of the sustainability structure created within the Bank with other policies and related regulations of the Bank,
- Managing the efforts to allow the Bank to offer products and services that support sustainable development,
- Supervising the efficiency of sustainability efforts,
- Providing information to the Board of Directors on the Committee’s activities when needed,
- Monitoring the policies, procedures, regulations and similar documents under its responsibility with respect to necessary updates, and taking action to keep them up-to-date.
In 2018, the Responsible Business Committee convened with the attendance of the members of the Sustainability Committee and discussed the related topics.
For Committee members, please visit here.