"Towards COP31: VakıfBank Future Value Panel and Product Launch" program was organized by VakıfBank, Credit Guarantee Fund (KGF) and Zero Waste Foundation to address sustainable development, green transformation and environmentally friendly financing solutions in the process leading up to COP31.
In the program held with the theme of "Development-Oriented Value Banking", the role of the zero waste approach in sustainable development, the green transformation of production and trade, and the contributions of the financial sector to this transformation were evaluated.
Speaking at the panel, VakıfBank General Manager Osman Arslan said that the goals and priorities targeted at COP31 and the development-oriented approach that VakıfBank put forward and tried to put forward overlap with each other.
Stating that classical economics presents the economy with the approach that human needs are infinite and resources are limited, Arslan said, "As the banking sector and the finance sector in broad definition, we need to see finance as an approach that truly respects nature, creates added value for other people, benefits the environment and contributes to the spread of income distribution and wealth among the base, rather than allowing everyone to do whatever they want."
Arslan noted that when we look at global finance, there are many different instruments such as making money from money, and said, "As VakıfBank, we bring the following understanding with our colleagues and we try to direct the resources we provide, especially from international financial institutions, towards this purpose."
"We will direct resources to areas that will contribute to development"
Osman Arslan pointed out that there is a difference between growth and development and said that growth is based on numerical indicators, but development is the value behind that growth.
Stating that COP31 in Antalya is very vital, Arslan said, "As VakıfBank, we will direct the resources we have obtained from important development banks, especially the World Bank, to areas that will contribute to the development of our country, especially zero waste and transformation economy."
Arslan stated that development-oriented value banking is an approach that knows what it does, adds value to life, covers a wide range of areas from education to children's development, from environmental health to occupational safety, from respect for the environment to respect for people, and fights against the waste economy.
"We need to implement innovation processes more strongly"
Samed Ağırbaş, President of the Zero Waste Foundation and COP31 High Level Climate Champion, stated that they have established strong collaborations with the World Bank, the World Economic Forum and regional banks, and noted that the impact of projects in the field where finance is not planned correctly and financial management is not carried out correctly is not very long-term.
Ağırbaş stated that at COP31, they will discuss access to finance and access difficulties of projects in the context of zero waste and circular economy in the world with the world's leading financial institutions and banks.
Ağırbaş stated that unfortunately it would not be possible to talk about zero waste in a world where there is no finance and finance is not managed correctly, and said, "COP31 is an important meeting where we will talk about the problems of the world, global warming. Here we will talk about the world's 50-year development plans. The decisions taken here will affect the future investments of countries and the future investments of financial institutions."
Ağırbaş stated that the investments made by companies through financing channels will reduce their energy costs and raw material inputs and said, "We want them to come up with a model in which they can buy more products with less raw materials and less energy, and we want them to produce less waste."
Pointing out the need to be open to innovation, Ağırbaş said, "We need to apply innovation processes more strongly in our companies and in our lives, only then we can compete with the world. Today, as you know, there are huge factories in China and some countries. They produce the same product for a tenth of the price, and at the end of the day, you have to compete with these companies in the global market." he said.
"Our industrialists need to realize this green transformation quickly"
Özgür Burak Akkol, Chairman of the Board of Directors of the Turkish Metal Industrialists' Union, said that, as Turkish Metal Industrialists, they are trying to attract opportunities to Türkiye and contribute to the vision of energy efficiency and green transformation.
Stating that there is a need for climate finance of approximately 6 trillion dollars in the world, Akkol said, "Especially the steel and cement sectors are not easy sectors to reduce carbon. They are sectors where our country is very competitive, where there are very large companies, and which provide great support to exports."
Stating that the most important part of Türkiye's exports are to the European Union, Akkol said, "The EU is implementing the Border Carbon Regulation Mechanism. It also imposes significant taxes, additional penalties and obligations on companies and countries that do not comply with this regulation. Therefore, our industrialists need to quickly realize this green transformation."
Akkol pointed out that they provide consultancy to industrial organizations in the country and transfer technology in the field, and shared the information: "Our companies support not only Turkish companies, but also foreign-capitalized, employment-creating companies in Türkiye in this transformation, in this journey."
