MESSAGES FROM US

Dear readers,

Although environmental factors and the protection of natural resources usually come to mind when it comes to sustainability, the value given to human life is an integral part of this process. It is not possible to achieve sustainability without building a healthy, fair and safe society. Issues such as education, health, equality, and access to fundamental rights not only improve the quality of life of individuals, but also contribute to the creation of a more sustainable future by strengthening societal resilience.

But millions of people are still made part of modern slavery with unfair working conditions, low wages and inhumane treatment. In a world where production processes are based on cheap labor, it is necessary to question whether a system in which human labor is not valued enough is sustainable.

We believe that there is a future that respects human dignity, raises living standards and offers equal opportunities for all.

Stay sustainable…

ÖZGÜN ÇINAR, CEO

ESG’Lİ HABERLER

  • We are witnessing an important development. Researchers from Ohio State University have developed a technology to convert materials such as plastics and agricultural waste into syngas, a substance that is often used to create chemicals and fuels such as formaldehyde and methanol. Technology can provide solutions to the growing problems created by waste plastic, paper and food. DETAIL
  • Carbon Brief analysis shows that expansion at Heathrow, Gatwick and Luton airports could lead to cumulative emissions of around 92 million tonnes of additional carbon dioxide equivalent (CO2e) by 2050. More than 300,000 hectares of trees will need to be planted in just a few years to compensate for these emissions, creating a forest twice the size of London. DETAIL
  • According to the Times, the UK’s nationally determined contribution (NDC) confirms its goal of reducing emissions by 81% by 2035. While farmers, automakers, energy companies and companies in other sectors will not set individual targets to reduce emissions, the target is maintained. DETAIL
  • Pharma supply chain decarbonization startup Energize has announced that it has signed a new collective power purchase agreement (PPA) with renewable energy developer X-ELIO. Under this agreement, healthcare companies Haleon and GSK, Gilead Sciences and Thermo Fisher Scientific will be provided with 245 GWh of renewable energy per year for 10 years. DETAIL
  • The U.S. Department of Energy will prioritize “expanding energy production” overachieving net-zero greenhouse gas emissions, according to an order issued Wednesday by Energy Secretary Chris Wright. The secretary’s order aims to align the department’s practices with the priorities of President Donald Trump, who has called climate change a hoax and has vowed to maximize oil and gas production, which is already at a record level. DETAIL
  • Google has tripled its purchases of carbon removal credits in 2024, investing more than $100 million. Its efforts include restoring natural carbon sequesters, improving rock erosion, and optimizing the use of biomass. Investments in direct aerial carbon capture aim to reduce costs and support long-term climate solutions. DETAIL
  • The Public Oversight Accounting and Auditing Standards Authority (KGK) and the Internal Audit Institute of Turkey (TIDE) signed a cooperation protocol to strengthen the internal audit profession from a sustainability perspective. Within the scope of the protocol, it is aimed to provide internal auditors with competence in environmental, social and governance (ESG) issues, while the Sustainability Internal Audit Expertise Certificate (SIDUS) Program will be implemented. In addition, the Turkish Internal Audit Standards Study and Advisory Commission (TİDESK) will be established and the integration of international standards into internal audit processes will be ensured. DETAIL

🍃 GREEN COLUMN🍃

COMPANIES ARE TURNING TO SCIENCE-BASED CARBON REDUCTION TARGETS

As the role of companies in the fight against the climate crisis becomes more critical day by day, the Science Based Targets initiative (SBTi) shared data showing that sustainability commitments are rapidly increasing in the global business world. Announcing that the number of companies that have verified their science-based emission reduction targets by 2023 has reached 4,204, SBTi explained that this figure indicates double the previous year’s figure. This increase shows that the private sector is taking steps towards a carbon-neutral future and that science-based targets are increasingly being adopted on a global scale.

Established in 2015 with the cooperation of CDP, World Resources Institute (WRI), World Wildlife Fund (WWF) and the United Nations Global Compact (UNGC), SBTi is one of the leading organizations that encourage companies to create climate strategies based on scientific foundations. The organization undertakes critical tasks such as identifying best practices on emission reductions and net-zero targets, providing technical guidance to companies, and managing target verification processes.

With the increasing demand for corporate sustainability goals in recent years, SBTi has undertaken significant transformations to strengthen its structure and increase its service capacity. In 2023, the SBTi, which reorganized its standard-setting and target verification activities into separate units, completed its structuring as an independent organization in the UK. However, it has prioritized developing industry-specific standards for areas such as oil and gas, electricity, automotive, chemicals, insurance and fashion, with a particular focus on high-carbon sectors. This step aims to help companies identify more effective and viable climate strategies by making it easier for them to create roadmaps specific to their industry.

As part of SBTi’s rapid scale-up process, it was also announced that it has received support from key funders such as the IKEA Foundation and the Bezos Earth Fund. Through this funding, the organization will help more companies clarify their emission reduction targets by increasing its verification capacity while consolidating its corporate independence.

The rapid proliferation of science-based targets in the business world shows that companies are not only meeting their environmental responsibilities, but also managing climate risks and integrating them into their long-term business strategies. SBTi’s work continues to strengthen the role of the private sector in global sustainability efforts, while encouraging companies to take more robust and science-based steps towards achieving their net-zero targets.

DAMLA GÜNALP, ASSISTANT SUSTAINABILITY SPECIALIST

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