Combating Climate Change
Combating Climate Change and Emission Management
As Türkiye Sigorta, we carry out our work in line with our strategy to combat climate change in order to reduce the environmental impacts of climate change.
Key elements of our strategy to combat climate change are summarized as follows;
Ensuring that the Board of Directors manages climate risks and opportunities by integrating them into corporate strategy and risk management,
Analyzing well how climate risk affects products, operations and value chains,
Reporting scope 1, scope 2 and scope 3 greenhouse gas emissions in accordance with the Greenhouse Gas Protocol,
To set a net zero carbon target in line with the national target,
Setting corporate decarbonization targets based on science,
Reporting progress on an annual basis against pre-determined and consistent targets
When managing our operations, we assess the risks and opportunities created by climate change with teams formed from operational units. We aim to facilitate access to insurance tools that reduce the risks created by climate change and to enrich our renewable energy-focused portfolio in line with our sustainable insurance approach. As of 2024, we have maintained our sector leadership by providing 294 billion TL in coverage for renewable energy projects. However, when evaluating requests from non-renewable energy plants within the scope of our operations, we apply more stringent offer conditions and conduct risk measurement assessments of the plants, and we do not evaluate investments that are underperforming to the extent possible.
In addition to the work we continue to carry out within the scope of our value chain, which we define as external factors, we are working to keep our environmental footprint to a minimum in terms of internal factors in the context of combating climate change. Greenhouse gases generated by our operations are the result of the total energy consumption of the General Management and Regional Management throughout the year. Energy consumption consists of electricity purchased for lighting, heating, and cooling (air conditioning), natural gas purchased for heating, and fuel consumption for daily activities (vehicle use and employee transportation).
As of 2022, we have deepened our efforts to assess the current situation. In 2024, we expanded our scope of work to identify and measure all greenhouse gas sources. We have calculated emissions for our headquarters and all regional offices, taking into account electricity, water, and natural gas, as well as air conditioning, refrigerators, fire extinguishers, and generators for our headquarters. In 2024, we demonstrated our commitment to the environment by including Scope 3 emissions such as air travel, hotel stays, purchases, waste, employee commuting, and, for the first time, financed emissions in our calculations. The carbon emission calculations conducted in 2024 were performed in accordance with the GHG Protocol, compliant with TSRS standards. For Scope 1-2 emissions in 2024, limited assurance was obtained, and for the first time, a statement with assurance was made in the sustainability context.
We have set our insurance company's emission target to be net zero by 2053, in line with our country's targets. In line with our goals for transitioning to low carbon emissions by 2023, all electricity consumption in our head office buildings is now sourced from renewable energy sources, and the electricity supplied is certified as being 100% domestically and locally produced from renewable sources through the Renewable Energy Source Guarantee System (YEK-G). As of the end of 2024, our electricity consumption from renewable energy sources is 4,702 GJ for Türkiye Sigorta and 4,007 GJ for Türkiye Hayat Emeklilik. In line with our emission reduction targets, central heating and cooling systems and high-efficiency equipment are used. Within this scope, we aim to reduce our energy consumption by 15% by 2030. In 2024, we saved approximately 12.4 million TL by sending 204,000 pieces of mail digitally instead of by post. We contribute to a low-carbon circular economy by recycling paper and electronic waste generated during our operations. During this period, 48 tonnes of waste were sent for recycling for Türkiye Sigorta and 46 tonnes for Türkiye Hayat Emeklilik. In 2024, the headquarters buildings obtained a Zero Waste certificate, and waste is being sorted and weighed daily on a regular basis. Waste is stored in waste collection areas before being delivered to the municipality. As part of internal social responsibility projects, the Turkey Insurance Memorial Forest is being created and reforested every year with new saplings. In 2024, 7,047 saplings were donated.
We conduct training for our employees on energy efficiency and climate change to raise awareness on these issues and promote environmentally conscious behaviour patterns. We implement the necessary measures to spread environmental awareness among our employees and throughout our value chain. In 2024, we provided 1,218 person-hours* of environmental training to our employees. In addition, we prepared our responsible purchasing policy in 2023 and launched a comprehensive survey to measure and encourage environmental awareness in our supply chain. In 2024, we created a supplier survey to measure the sustainability performance of our suppliers and published the results of our survey, which had a 25% response rate, on our website and in our integrated annual report.
Türkiye Sigorta will continue its efforts to achieve its 2053 targets with its responsible insurance, zero waste, carbon management and supplier management teams.