“ESG and Sustainable Investment Forum Turkey” conference took place on 26-27 October 2022. To goal was to have a well-rounded, in depth discussion of all things related to ESG in Turkey and beyond. Thanks to British Chamber of Commerce for inviting me to a panel to share my knowledge on “Real Estate and ESGs”. During the conference, speakers and panelists exchanged views and experiences on being ESG providers in the context of the transition to sustainable ethical investment practices, as well as the potential challenges and the latest trends in the field of ESG, sustainable finance and paths to responsible investment.
Environmental, Social and Corporate Governance (ESG) – is an evaluation of an organization’s thoroughness for social and environmental factors. The importance of Environmental, Social and Governance (ESG) in commercial real estate is undeniable. ESG has become a strategic imperative for portfolios to create sustainable and responsible businesses, while meeting the demands of investors, tenants, and employees. ESGs are also very important for affordable housing development. In order to incorporate ESG into Housing Credit development:
• Mutual assistance and support among stakeholders to identify, communicate and report on ESG impacts
• Developing frameworks that affordable housing stakeholders can use to inform and kickstart their own ESG frameworks
• Increased benchmarking of developers and investors in ESG leads to increased competition and ESG-driven investment
UK Consulate General Kenan Poleo said: “Environmental, Social and Governance reporting is an increasingly important part of sustainable finance. Businesses and financial institutions are turning to ways to grow sustainably and responsibly. Therefore, the ESG market is increasing in the UK, Turkey and worldwide. Last year, the UK announced its largest ever export financing guarantee for a solar project, offering a £217m (US£291m) guarantee for a new solar plant in Konya. With this project, the energy needs of two million homes in Turkey will be met. In March 2022, UKEF announced the largest sustainable, civil infrastructure deal ever, with a €2.1 billion loan to finance the construction of a 503 km high-speed electric railway between Ankara and Izmir. When completed, the new line will offer a faster, lower-carbon alternative to existing air and road routes between the two cities and help meet Turkey’s climate change commitments made at COP26.”
Among conference speakers, International Energy Agency (IEA) President Fatih Birol pointed out that with the problems experienced in energy markets, the world is now on the verge of the biggest energy crisis to date. He emphasized the importance of countries transforming new technologies into sustainable investments for the energy resources of the future, in the light of energy security and sensitivity to climate change