Yapı Kredi’s Material Sustainability Issues
Yapı Kredi’s material sustainability issues are determined in a manner to ensure optimum utilization of its capitals in the efforts to achieve its sustainable profitability goals while enabling long-term stakeholder relations, and these issues are reviewed periodically. “GRI Reporting Standards”, stakeholder expectations and requests, sectoral and global developments and corporate strategic goals are taken into account while determining material issues. Material issues are updated as consequence of the annual “Materiality Analysis”.
Annual “Sustainability Workshops” constitute an important milestone, both for stakeholder engagement in managerial processes, and for Yapı Kredi’s sustainability journey itself.
In 2017, we revised Yapı Kredi’s areas of priority through the input provided by an integrated and comprehensive model that utilized a wide-scale stakeholder analysis, external trend analysis and four-stage impact analysis.
To identify the relevance of a particular area for stakeholders, we
- carried out stakeholder analyses and obtained feedback from leading individuals and organizations from each stakeholder group, and
- included global and sectoral trends and the priorities of international organizations and global sustainability indices through an external trend analysis.
To identify the relevance of a particular area for Yapı Kredi, we
- obtained feedback from senior management,
- took into account the Bank’s overarching strategy and sustainability approach, and
- assessed risks and opportunities in terms of their financial, legal, innovative and competitive impact through a four-stage impact analysis process.
While identifying the importance of these areas for Yapı Kredi, we have taken into account the five-capital approach that forms the basis of the Bank’s strategy and sustainability approach in addition to consulting the Bank’s senior management through online surveys. Through the four-stage impact analysis, we have analyzed each area for their financial impact and risks, legal impact, potential competitive advantages provided, and prospective innovation opportunities. During our assessment of the effects these four areas have on the Bank, we took into account the magnitude of the impact, probability of occurrence, and timing to identify the areas in a holistic manner.
For Yapı Kredi, contributing to the United Nations Sustainable Development Goals, which aim to create solutions for global challenges, is part of our responsibilities, as highlighted by the Bank’s strategy and priority areas. Accordingly, as part of the Sustainable Development Goals Workshop organized by Koç Holding, one of our main shareholders, we explored what these Global Goals mean for the sector at large, and how Yapı Kredi can contribute to these goals.
The list of material sustainability issues, updated in 2017, are given below.