We Joined the Principles for Responsible Banking as a Founding Signatory
Development and Investment Bank of Türkiye became a founding signatory of the Principles for Responsible Banking developed by the United Nations Environment Programme Finance Initiative (UNEP FI) to increase the banking sector’s impact on activities supporting a sustainable future.
Development and Investment Bank of Türkiye joined the Principles for Responsible Banking as a founding signatory. The principles were developed through joint work by UNEP FI and 30 member banks with combined assets exceeding USD 17 trillion.
Prepared to align the banking sector with the objectives set out in the United Nations Sustainable Development Goals and the Paris Agreement, the Principles for Responsible Banking require signatory financial institutions to base all their activities on sustainability approaches and criteria. The UN Sustainable Development Goals include clean water, clean energy, climate action and the protection of life below water and on land. The Paris Agreement, to which Türkiye is also a signatory, envisages a transition towards renewable energy. By signing the UN Environment Programme’s Principles for Responsible Banking, financial institutions commit themselves to sustainability objectives across a broad framework extending from financing to accountability.
Commenting on the matter, TKYB CEO İbrahim Öztop stated that, for 44 years, the Bank had closely monitored the development projects it supported through its expert staff and that ensuring compliance with defined environmental and sustainability criteria was one of its fundamental principles. Öztop said: “We are proud to join the Principles for Responsible Banking as a founding signatory, once again confirming our support for sustainability as a core component of our development approach. In line with the 2023 objectives, guided by our Development Plan and the Sustainable Development Goals, our Bank focuses on financing sustainable development. Through the themes it develops and the resources it secures in alignment with developments and standards in the international financial community, it will continue supporting competitive and efficient production for a stable and robust economy.”
The Principles for Responsible Banking were announced at the United Nations General Assembly meeting in New York on September 22, 2019, with the participation of senior representatives of supporting banks from around the world.