Carbon and Greenhouse Gas Emissions Data Collection and Calculation Regulation
Greenhouse gas emissions is among the top issues we monitor in the context of our environmental performance. We monitor and report our carbon emissions in accordance with the Carbon and Greenhouse Gas Emissions Data Collection and Calculation Regulation.
Our strategy to fight against climate change has three main components:
- Sustainable Energy Financing: Provide financing support for sustainable energy investments and projects by prioritizing renewable energy investments.
- Reducing Environmental Impact: Minimizing the impact and carbon footprint of our activities.
- Increasing Employee Awareness: Providing training about energy efficiency and climate change to our employees, increasing awareness about these issues and promoting environmentally conscious behavior changes such as categorizing waste at the source and saving energy within and outside the Bank.
VakıfBank is included in the Carbon Disclosure Project (CDP) in 2015 and we started reporting our climate change strategy, our risks and performance. And in 2017, it kept its CDP Climate Change Program performance score of B (Administrative).
Emission Reduction Targets
In order to maintain our success with the first CDP report, with the approval of the Board of Directors, we adopted the following commitments towards mitigating carbon emissions emerging from our operations:
- %2 reduction in annual electricity consumption per square meter
- %2 reduction in annual natural gas consumption per square meter
- %2 reduction in annual water consumption per capita
- %2 annual saving in paper use per capita
- %2 reduction in Bank total carbon and GHG emissions
Our renewable energy consumption increased by 4% compared to last year and reached 59,507 MWh. By doing so, we supplied 88% of our electricity from renewable sources and reduced 26,331 tons of carbon.