The responsibility for the integration into decision-making processes and management of sustainability lies with the Sustainability Committee at the Bank. Our operations under the guidance of our Committee are carried out by the Sustainability Sub-Committee, which is affiliated with our Committee.

In 2024, we changed our organizational structure to further strengthen our sustainability governance structure and established the Sustainable Banking Department within our Bank. The Chairmanship of the Sustainability Subcommittee was assumed by the Head of Sustainable Banking. The Sustainability Sub-Committee is responsible for establishing sustainability strategies and policies in economic, social, and environmental fields, as well as integrating these strategies and policies into the Bank’s operations and monitoring performance. The detailed information on the VakıfBank Sustainability Committee is available here.

Our Sustainability Committee convened once in 2024 and adopted important resolutions. At the meeting, it was resolved to establish the “Science Based Targets Working Group” under the Sustainability Sub-Committee in order to coordinate the Bank’s efforts in line with science-based targets and to prepare progress reports. We also updated the Sustainability Policy in line with the Bank’s sustainability strategy. Our Bank’s sustainability policy is available here.

During this period, the “Integrated Management Working Group” under the Sustainability Committee continued its activities for the maintenance of the integrated management system to minimize the Bank’s environmental and social impacts and for the follow-up of new management standards that may be established, and the “Climate Risks and Environmental Social Risks Management System Working Group” and “Science Based Targets Working Group” established in 2024 continued its activities to analyze climate risks and environmental and social impacts.

The Sustainable Banking Department is in charge of monitoring sustainability-related developments, analyzing global trends, and providing coordination within the Bank for the activities to be conducted in this field. It is also in charge of preserving the Bank’s rankings on national and global environmental, social, and governance (ESG) indices while raising the Bank’s ESG scores to higher levels. We carry out the coordination and follow-up of the objectives for reducing the direct environmental impacts of our Bank, and the Carbon Disclosure Project (CDP) reporting activities through the Environmental Management Department. We monitor the impact we create through financing projects within the Environmental and Social Impact Analysis function.

The detailed information about our Sustainability governance structure is available on our website here.