Home / Akfen Holding, Akfen Renewable Energy, and Akfen REIT Achieved a High Rating from the International Climate Change Rating Agency CDP
10.02.2024

Akfen Holding, Akfen Renewable Energy, and Akfen REIT Achieved a High Rating from the International Climate Change Rating Agency CDP

5 min

Akfen Group companies highlight their efforts towards a sustainable future in their respective fields, garnering international attention from assessment organizations.

According to the 2023 climate change ratings by the Carbon Disclosure Project (CDP), the world’s largest environmental reporting platform, Akfen Holding, Akfen Renewable Energy, and Akfen REIT achieved the second highest rating, known as a ‘B’ rating, in their inaugural year of application.

These companies, holding this rating, are described as “companies engaged in coordinated action on climate issues” and are acknowledged for “addressing the environmental impacts of their operations and providing good environmental management.”

The Carbon Disclosure Project (CDP), the world’s largest environmental reporting platform, has announced the results of its 2023 climate change ratings.

Based on the evaluation of efforts in climate, water security, and deforestation, Akfen Holding, Akfen Renewable Energy, and Akfen Real Estate Investment Trust (REIT) achieved the second highest rating, ‘B’, in their first year of application. These companies are characterized as “companies engaged in coordinated action on climate issues” and are described as having “addressed the environmental impacts of their operations and provided good environmental management.”

CDP, a London-based international organization, works to change the way businesses operate to reduce the effects of climate change and protect natural resources. It facilitates public companies in reporting how they use natural resources and natural capital, how their activities affect the reproduction of limited resources, and how they manage these risks, to investors.

Emre Sezgin, Akfen Group Sustainability Leader:

“Our Goal is to Elevate our Score to the Highest Level Next Year”

Emre Sezgin, Akfen Group Sustainability Leader and General Manager of Akfen Environment and Water, shared the following views on the matter:

“Akfen Holding and our group companies are committed to aligning with the world’s sustainable development goals and making progress in this direction. The climate crisis, water security, deforestation, and other significant issues facing our planet necessitate solutions, and we aim to increase our efforts in these areas. The ‘B’ rating we received from CDP in our first year indicates that our steps in this direction are moving in the right direction. However, our goal is not just to be content with our current achievements; rather, it is to integrate environmental, social, and governance (ESG) criteria into all of our business processes, to spread sustainability across all areas, and to leave a livable world for future generations. In this context, as Akfen Holding and our group companies, we aim to invest in innovation and green technologies with a high level of awareness, increase energy efficiency, and reduce our carbon footprint. Sustainability is a fundamental part of our business strategy. We will continue our commitment to building a sustainable future together with all our stakeholders and employees.”

Akfen Holding Reflects its Sustainability Approach in all Areas

Established in 1976, Akfen Holding has implemented numerous projects in various fields in Turkey and abroad, touching the lives of thousands of people in the regions where these projects are located through its subsidiaries to raise awareness in education, women’s rights, the economy, and the environment. Akfen, the first holding company in Turkey to sign the United Nations Global Compact and the Women’s Empowerment Principles (WEPs), also supports HeForShe, a global solidarity movement for gender equality.

Akfen, which embraces the idea that sustainable prosperity can only be achieved through investments in people and society, carries out corporate social responsibility projects under the Turkey Human Resources Education and Health Foundation (TİKAV), founded by the Akın Family in 1999. In addition, Pelin Akın Özalp, a member of the Akfen Holding Board of Directors, serves on the Board of Directors of Inclusive Capitalism, a non-profit global organization established to harness the potential of the private sector to create a more inclusive, sustainable, and reliable form of capitalism.

Akfen Renewable Energy is Among the Top 30 Companies in Sustainability

Akfen Renewable Energy, positively highlighted in CDP’s report, had previously ranked among the top 30 companies worldwide in all sectors according to the environmental, social governance, and sustainability report prepared by Moody’s, a global rating agency, from among the companies it requested. Akfen Renewable Energy has been preparing the Environmental and Social Performance Annual Monitoring Report (ESAP-AMR), also known as ESAP-AMR, annually for seven years.

Akfen Renewable Energy, which produces energy exclusively from domestic and renewable sources, continues its activities in line with its goals to combat climate change, preserve biodiversity, manage environmental and social aspects, and improve the living standards of stakeholders in the regions where it operates.

Akfen REIT Becomes the First REIT Included in the BIST Sustainability Index

Having left behind the restructuring period it entered in 2021 and as a result of this, Akfen Real Estate Investment Trust (REIT), which has managed to increase its revenues in each period, continues to receive appreciation for its efforts in corporate sustainability in various areas.

Akfen REIT, which was included in the Borsa Istanbul (BIST) Sustainability Index, consisting of companies with high sustainability performance, as of October 1, 2023, with its sustainable business practices and environmentally friendly projects.

Established in 2003 with the “Contemporary City Hotels” project, pioneering its industry, and diversified its portfolio over 16 years with hotel, resort, student dormitory, office, and factory building as well as housing projects, Akfen REIT has formed a sustainability strategy to create value for all stakeholders through policies adopted in its projects and implemented sustainable, innovative, and environmentally friendly practices.

 

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