This section provides detailed information about sustainability-related developments in Yapı Kredi.
United Nations Environment Programme Finance Initiative (UNEP FI)
In order to strengthen its commitment towards sustainable development, Yapı Kredi joined the United Nations Environment Programme Finance Initiative (UNEP FI) by signing the Environment and Sustainable Development Statement. As being a global joint effort, UNEP FI plays a key role in the development of policies and tools that are designed to enable the finance sector manage its environmental and social risks.
United Nations Women’s Empowerment Principles (UN WEPs)
The Women’s Empowerment Principles (WEPs) is the leading global platform for empowering women to participate fully in economic life. Established in 2010 as a partnership initiative by the UN Global Compact (UNGC) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), the WEPs platform provides a set of considerations to help the private sector focus on key elements integral to promoting gender equality in the workplace, marketplace and community. Yapı Kredi joined the platform in December 2016.
Environmental and Social Risk Management in Lending Activities
Yapı Kredi reviewed and improved its “Assessment of Environmental and Social Risks in Lending Activities” procedure in 2019, which was developed as part of the Sustainability Management System. As of 2019, in order to further integrate to Equator Principles, the criteria to assess environmental and social impact of all new investment and project financing loans with maturity at least 3 years and a loan amount above USD 20 million were revised to include all new investment and project financing loans above USD 10 million. This assessment is part of regular credit assessment, and is one of the steps leading towards the credit committee. Furthermore, as of 2019 Yapı Kredi includes project finance advisory services above USD 10 million in its “Assessment of Environmental and Social Risks in Lending Activities” procedure.