CDP Turkey hosts 11th Climate Change Conference TEPAV’s Güven Sak joins panel discussion, “The role of markets & public policies to reach net-zero”
The CDP Turkey’s 11th Climate Change Conference was held virtually on Wednesday March 31st, 2021. The Carbon Disclosure Project (CDP) aims to disclose companies’ Green initiatives from across the world to investors in parallel to achieving the 2030 Sustainable Development Goals. Since 2011, CDP’s Turkey branch, in partnership with Sabanci University’s Corporate Governance Forum, has been hosting an annual conference with regards to their findings on Turkish companies’ Green initiatives.
Opening remarks of the conference were made by Mirhan Koroglu Gogus, CDP’s Turkey Country Projects Manager. Gogus underlined that global cooperation in tackling the COVID-19 pandemic must also be applied to tackling climate change and that, despite the current condition, the world is still conscious of its responsibility in handling the climate crisis.
Following Ararat’s opening remarks, keynote speaker Eric Usher, Head of the UN Environment Programme’s Finance Initiative, stated that the current sustainability initiatives and environment social governance outcomes are indicating promising signs for the ability of the private and financial sector to adapt the changing expectations. Nevertheless, the 10-year period necessary to achieve a low carbon trajectory actually depends on the actions taken in the upcoming two years. As such, the growth of clean business models and all sectors transitioning due to the climate prerogative is a promising sign.
Gogus went on to present the CDP Climate Change and Water Report 2020’s Turkey edition. The report discloses CDP Turkey’s 2020 findings in the areas of Turkish companies’ preparedness on climate change, levels of science-based targets, increasing low carbon investments, transitions plans, energy efficiency, and water assessment levels, amongst other relevant topics.
The floor was then given to the panel discussion, “The role of markets & public policies to reach net-zero.” Leading the discussion, Melsa Ararat, Founding Director of Sabanci University’s Corporate Governance Forum, directed questions towards panel participants Alberto Carrillo Pineda, Director of Science-Based Targets at CDP, and Güven Sak of TEPAV. Ararat brought to attention that the reason the transition to climate sensitive models are slow is due to the high amount of fixed capital investments that are required, unfortunately a bill that only developed countries can afford. She stressed that Turkey needs to ratify the 2016 Paris Agreement.
Pineda expects gateway countries to large markets, such Mexico to the United States or Turkey to the European Union, to face pressure and challenges as consumers and investors change their expectations for companies. Investors seek businesses in their portfolios that continue to create value for the society without emitting emissions and relying on fossil fuels. Major transition of the economy must occur, if in the next three decades changes do not occur than the impact of global warming will reach unmanageable levels. A positive development is that three fourths of global emissions producers are from countries already working to lower their emissions.
Sak signified that climate change related activities 20 years ago were only viewed as corporate social responsibility by corporations and financial institutions. As of 2020, however, this topic which used to be at the fringes of society has placed itself at the core of discussions - with overwhelming economic change taking place at the heart of the debate. Furthermore, not only is the Paris Agreement of 2015 mobilizing countries, but also the European Union announcing the Green Deal in 2019 shows the extent governments across the globe are putting emphases on climate change. The world is currently waiting for the Biden administration in the United States to announce their targets. This indicates a new era of trade and commerce with the climate change framework at its foundation with trade policies leaping into foreign policies. Carbon taxation recently coming to the fore is a clear sign of this. On a positive note, new technologies are proving that non-carbon-based growth is possible, that carbon emissions and development itself can be detached.
Prior to announcement of awards, Paul Dickenson, Co-Founder & Executive Chair of CDP, underlined the importance of renewable energy, energy efficiency, dematerialization of the economy, developing fiber optic infrastructure, and food science.
CDP Turkey recognized the following Turkish companies for their contributions in the areas of tackling climate change, water management, and supplier engagement: AKSA, alBaraka, Arcelik, aselsan, BRISA, ETI, Garanti BBVA, Kalkinma Yatirim, KORDSA, Migros, Pegasus, Pinar, TEKFEN, Turkiye IS Bank, and Yapi Kredi Bank.
Concluding remarks and final acknowledgements and thanks were given by Ebru Dildar Edin, Executive Vice President of Garanti BBVA, and Murat Gigin, Chairman of Tekfen Holding.
To access the CDP Turkey’s official website, please click here.
To access the CDP Climate Change and Water Report 2020’s Turkey edition, please click here.
