Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Yapı Kredi embraces the Sustainable Development Goals (SDGs) and the Paris Climate Agreement in relation to its sustainability strategy. Turkey's development plans and Turkey's Intended Nationally Determined Contribution (INDC) Statement also provide guidance for the Bank's sustainability strategy. Under the Sustainability Management System all operations including the Bank's direct and indirect environmental impacts are conducted in compliance with those national and international agreements and commitments. Given these facts, Yapı Kredi addresses climate crisis in its corporate strategy as "Climate Crisis and Environmental Management is one of the Bank's strategic priorities.†
During the transition to a low-carbon economy, the Bank has committed to set emission reduction targets within the scope of the Science Based Targets Initiative's platform on Business Ambition for 1.5°C. In keeping with this pledge, the Bank's efforts are in progress for reducing its emissions arising from its own operations and the emissions associated with its lending activities to achieve its net zero target by 2050. In addition to this, the Bank has also initiated efforts to integrate climate risks into credit risk assessment processes.