Turkcell Signed a Sustainability Linked Loan Agreement of 50 Million Euros
Turkcell, incorporating its sustainability approach to its financing activities, today announced that it has signed a ‘Sustainability Linked Loan’ agreement with BNP Paribas for a three-year term loan of 50 million euros.
Turkcell, incorporating its sustainability approach to its financing activities, today announced that it has signed a ‘Sustainability Linked Loan’ agreement with BNP Paribas for a three-year term loan of 50 million euros. Accordingly, Turkcell has further strengthened its leading position in loan markets with sustainable financing. As part of the agreement, objectives including electronic waste recycling, using solar energy and decline in paper consumption with increased use of company’s digital publishing app Dergilik have been set. The annual cost of the loan will decline should Turkcell successfully meet these objectives.
An incentive for sustainability and future
Emphasizing that Turkcell has extended its sustainability efforts to its financing activities, Turkcell CEO Murat Erkan said: “We have signed the ‘Sustainability Linked Loan’ agreement combining our efforts on sustainability and objective of diversifying our financial resources. Turkcell will contribute to sustainable growth, reduce its carbon footprint and lower its financial costs with this loan – our aim at scale is to leave the natural resources to the next generation and create value for our customers in a sustainable manner. We are, in this sense, determined to continue our sustainability practices as the heart of our corporate social responsibility projects.”
Sustainability through ubiquitous practices
Turkcell, disclosing its sustainable management approach, its practices and performance transparently through its sustainability reports published since 2011, is also listed on BIST (Istanbul Stock Exchange) Sustainability Index since 2015. Supporting sustainable industrialization with its technology, Turkcell builds its infrastructure and aims to reduce environmental effects through its digital services with the future of climate and environment in mind. Turkcell continuously tracks its carbon footprint to fight climate change and aims to lower carbon emission through the increased use of renewable energy in business processes, and focuses on energy save with process improvements to reduce its waste. Turkcell’s digital publishing app Dergilik prevents thousands of trees being cut down by enabling customers to read magazines and newspaper online. Also, Turkcell’s smart agriculture IoT device Filiz allows farmers to use water resources more efficiently.