VakıfBank, with a view to create socioeconomic values by taking into account the needs and views of all its stakeholders, especially the public and the Bank’s clients, to minimize the possible negative effects and to combat global climate change, aims to put sustainability at the core of its decision-making processes in all its activities as a permanent value.
Therefore, a sustainability organisation structure, which was created in 2015 in order to carry out sustainability activities effectively and productively in a way that will enrich the Bank’s corporate identity, operates like in the figure below.
This structure comprises the "Corporate Governance Committee" as the highest decision-making and responsible authority and a related "Sustainability Working Group", a "Sustainability Service" within the Department of Investor Relations to carry out sustainability services and an "Environmental Management Service" within the Head of Support Services.
- Corporate Governance Committee, is the highest authority in managing all sustainability activities of the Bank, making the necessary revisions to ensure constant improvement and taking decisions to implement necessary action as well as being responsible for overseeing the Bank’s compliance with the Corporate Governance Principles. The Committee is chaired by an independent board member.
- The Sustainability Working Group, is responsible for taking the necessary actions so as to ensure the performance of the necessary activities in sustainability field with participation from relevant departments of the Bank and chaired by the head of International Banking and Investor Relations Department.
- The Sustainability Service, operating under the Direction of Investor Relations, was created to coordinate all work units and efforts in order to ensure the preparation of the Bank's Sustainability Report and to share it transparently with stakeholders. It also leads the way in the development of practices that will take the Bank further in terms of sustainability.
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The Environmental Management Service is responsible for identifying the environmental aspects of the Bank's activities and operations and carries out the monitoring and the reporting process. It implements the action plans aimed at minimizing the negative environmental impact and realizes activities to reach targets.