Deputy President Cevdet Yılmaz: ‘Sustainable finance constitutes the cornerstone of building a better future’

The Climate Economy summit on ‘Sustainability Financing’, which brings together executives in the field of finance and economics in Turkey, was held with the participation of Vice President Cevdet Yılmaz. Leading organizations in Turkey’s economy and finance sector, including presidents, executives, and economic management, came together at the Climate Economy summit on ‘Sustainability Financing’. The program evaluated Turkey’s roadmap for sustainable financing and the process of compliance with international standards. Vice President Cevdet Yılmaz, along with the President of the Presidential Investment Office Ahmet Burak Dağlıoğlu, businessmen, executives, and presidents of many companies attended the program. Furthermore, the environmental and social impacts of sustainable investments and financial instruments in the green wave movement were also discussed at the program. Vice President Cevdet Yılmaz, speaking at the program, stated that ‘Climate economy and sustainable financing are becoming increasingly important for the protection of natural resources and environmental ecosystems. These approaches make economic systems more resilient to climate change and other environmental risks, while also increasing long-term economic stability and social welfare. Climate economy aims to implement policies that support environmental sustainability and the transition to low-carbon technologies. Green bonds and other sustainable financing instruments play a significant role in increasing capital flow to projects that provide environmental benefits, contributing to the fight against climate change. Increasing investments in clean energy, resource-efficient technologies, and sustainable developments also help preserve biodiversity, increase social justice, and reduce environmental pollution.’ Vice President Yılmaz also stated that ‘The size of the global sustainable finance market is predicted to reach $30 trillion by 2030. These data indicate the rapid growth of the global sustainable finance market and the increasing demand for green financing instruments. While the increase in global figures in sustainable finance continues, our country has also accelerated its efforts in green transformation and sustainable finance areas.’ Vice President Cevdet Yılmaz emphasized that ‘Sustainable finance forms the cornerstone of building a better future,’ stating that the resources obtained in this context will be used for our private sector’s green transformation needs. Another priority area under the Presidential Investment Office is the development of the impact investment ecosystem and the increase of impact investments. We attach importance to the establishment of evaluation, measurement, and support mechanisms for increasing impact investments, defined as investments that create measurable positive social and environmental impact in addition to the expected financial return. By encouraging green bond issuances, we will provide the necessary financing to achieve our sustainable development goals and at the same time enhance our global competitiveness. However, we can only build a more sustainable financial system and a livable world through collective efforts. Financial institutions should constantly renew and improve sustainable finance products and services. Investors should prioritize sustainable investments. Civil society organizations should carry out activities to increase awareness in this area and raise public awareness. Media organizations should give more prominence to sustainable finance in both digital content and television programs.’