MESSAGES FROM US

KEMALEDDIN DİLBAZ, CEO

The rules governing ESG activities are evolving rapidly. As new regulations emerge, companies are setting targets, launching projects, conducting gap analyses and developing action plans to align their positions with these regulations. The next few years are likely to be very busy for companies. It is a fact that those who fail to utilize this period efficiently will suffer from a decline in competitiveness. In our newsletters, we try to help you on your ESG journey by covering the effects of all these developments. In this context, if you let us know what you would like to see in the content, we will try to respond to your requests as much as possible. We hope you enjoy reading it.

ÖZGÜN ÇINAR, CRO

We have left behind a few more weeks in which one regulation after another has been introduced. Yes, many steps are being taken to create a sustainable future, but there is another point that should not be overlooked. On the one hand, we see that these rules are being stretched and implementation is being postponed. However, a sustainable future requires strict adherence to the rules, which are developing rapidly, especially under the leadership of the EU, and no disruptions in implementation. We hope that rule-makers will take more effective steps to create a responsible future without stretching and without jeopardizing the needs of future generations. Stay sustainable…

ANTHROPOCENE EPOCH

In recent years, with increasing storms, frequent forest fires and record-breaking temperatures, it has been frequently emphasized that we are in a phase where humanity’s impact on the climate is significantly increasing. A group of scientists describe this as a new geological epoch and call it the “Anthropocene Epoch”.

Although the scientific world cannot fully agree on its definition, the Anthropocene Epoch is used to describe the period from the 1950s, when human impact on Earth peaked, to the present and beyond.

The term “Anthropocene” was first mentioned by Stoppani in 1873, referring to the increasing impact of humans on Earth’s ecology. During this period, factors such as the industrial revolution and the discovery of fossil fuels had significantly altered the balance of nature in a negative way. It was Crutzen and Stoermer in 2000 who named the period as an epoch, the Anthropocene Epoch.

Scientists claim that humanity’s negative impact on Earth’s ecology can be seen most clearly in a small lake in Ontario, Canada – Lake Crawford. They say that the sediments accumulated in this small lake mark the beginning of a new geological phase. Despite having a surface area of only 2.4 hectares, Lake Crawford is 24 meters deep. It was formed when a limestone cave collapsed and water filled the cavity. Because it is so deep, the bottom layer of water does not mix with the upper layers. Every summer the lake warms up, calcium carbonate precipitates and sinks to the bottom forming a distinctive white layer as a sign of the passing of the years. Looking at the sediments at the bottom of the lake, the acceleration of change can be traced year by year.

Previous studies of the lake’s sediments have revealed two major periods of change. The first is the influence of indigenous peoples from the eighteenth to the fifteenth centuries, and the second is the period marking the arrival of European colonizers in the nineteenth century. The biggest change is seen since the mid-twentieth century. In 2019 and 2022, samples taken from the lake showed that it perfectly recorded one of humanity’s most significant impacts on the environment: the widespread use of fossil fuels, even the plutonium emitted after nuclear bomb tests. Therefore, the researchers now believe that the evidence for the beginning of the era has been collected and that the beginning of this new era should be 1950. This date marks the so-called ‘great acceleration’, when changes in human population and consumption patterns accelerated dramatically. This date also coincides with the rapid expansion of the use of aluminum, concrete and plastics in parallel with the development of technology.

In conclusion, the Anthropocene Epoch reflects the geological imprint of humanity’s impact on nature, and the measures to be taken during this period will be decisive for the future of our planet.

Almina Gencal, Sustainability Expert

ESG NEWS

  • A new satellite built with the support of Google and the Environmental Defense Fund group will be launched into space from California on a mission to detect oil and gas industry methane emissions. DETAIL

  • The SEC (Securities and Exchange Commission) has adopted a set of rules to improve and standardize climate-related disclosures for use by public companies and in IPO processes. The final rules reflect efforts to respond to investor demand for more consistent, comparable and reliable information about the financial impact of climate-related risks on companies’ operations, the mitigation of climate change-related costs, and how these risks are managed. DETAIL
  • From creating alternative building materials and textiles to cleaning up environmental toxins and providing new sources of plant-based protein, the world’s 2 to 4 million species of fungi offer endless possibilities. But it turns out they can also offer possibilities beyond these. Scientists are turning to fungi to solve the plastic pollution crisis. DETAIL

  • CoreLogic’s 2024 Severe Convective Storm Report highlights a rising risk: The risk of severe thunderstorms in the US… The reason for this observation is that 141 days of 2023 saw major hail events. Hail is set to be the most devastating natural disaster of 2023, according to CoreLogic’s storm report. DETAIL
  • In 2017, Walmart, together with its suppliers, launched a bold initiative called Project Gigaton to reduce one billion metric tons of greenhouse gas emissions across its product value chains by 2030. In a new statement, the company announced that suppliers exceeded this target in six years, well ahead of expectations. DETAIL

GREEN CORNER

Sometimes things that are started with high hopes and motivation may not go as planned.

We have recently started to experience examples of this in the field of sustainability.

Why do we make such a judgment? The answer is simple. While important regulations were being made one after the other under the leadership of the European Union in order to “meet the needs of the present without jeopardizing the needs of future generations”, we started to feel that the wind had suddenly become lighter.

What happened?

For example, the President of the European Commission, Ursula von der Leyen, has expressed her intention to withdraw the draft law that aims to reduce the use of pesticides across the EU, which has caused intense debate and even protests by farmers. In any case, the bill did not receive the desired support from the European Parliament.

Another example comes from Germany. The German Social Democrat labor minister told Reuters that Germany will “abstain” from voting on an EU law that would require large companies to take action if they discover child labor or environmental damage in their supply chains. The abstention was due to the Free Democrats’ opposition to the law.

The Corporate Sustainability Duty of Care Directive (CS3D) is another example that raises concerns. The Directive was published on January 20, but can only be implemented with the approval of the European Parliament, the European Commission and the European Council. Here, too, there has been strong resistance from Germany. This dampens hopes for progress.

The same is true for sustainability reporting. In a speech in September 2023, European Commission President Ursula von der Leyen condemned the EU-wide regulation of small and medium-sized enterprises as “excessive” and called for a 25% reduction in reporting obligations for SMEs. This raised questions as an indication that the implementation of the CSRD (Corporate Sustainability Reporting Directive) could be delayed and its scope narrowed.This was followed by a German proposal to raise the reporting threshold from 250 to 500 employees. In late 2023, the EU instructed EFRAG (European Financial Reporting Advisory Group) to postpone work on sector-specific standards for non-EU companies. Instead, it was directed to help create better guidance for the generic ESRS. On January 24, the European Parliament’s Legal Affairs Committee adopted a proposal that would postpone the implementation of the CSRD’s sector-specific standards and reporting requirements for non-EU entities until 2026, two years after the original implementation date.

Not all examples are from the EU, of course. Recently, the SEC, which can be described as the CMB of the US, published the rules regulating the disclosures to be made by publicly traded companies regarding climate-related risks. However, although the regulation has been watered down considerably, it has already created controversy.

Examples can be multiplied, but let’s stop here.

It seems that intensive efforts will be required to ensure a sustainable future.

We hope that this effort will be relentless and that the goals of a sustainable future will be quickly achieved…

Ozgun Cinar, CRO

 

WE SUPPORTED TROYA FORUM AS SPONSORS AND PANELISTS

TROYA FORUM, organized by ÇASİAD for the second time on March 1-2, attracted great interest this year as in the previous year. Our General Manager Kemaleddin Dilbaz shared the current developments in sustainability and ESG with the participants at the Forum, where Trasta ESG was also a sponsor and Çanakkale’s 2040 vision was discussed with valuable speakers. Dilbaz emphasized the importance of local governments, non-governmental organizations and the private sector working in coordination in the context of sustainability, and provided detailed information about the criteria in the social dimension of ESG. The valuable comments from the participants in the question-answer section revealed that the sensitivity of the business people of Çanakkale on sustainability is at a high level.

IMPORTANT CONCEPTS

Bioremediation is the process of removing an environmental pollutant with the help of microorganisms. With this technique, bacteria and fungal species are used to ensure the rapid removal of pollution.

LinkedIn