What We Do ?
What We Do ?
We create added value for society and the environment.
We work with the understanding of 'Respect for People and the Environment'. We create jobs and economic value through our operations and products, and we recognize our responsibility to society. We deliver corporate responsibility projects supporting social development through a multi-pronged approach. We also support social development in the regions where we do business at the national level through donations and sponsorships. We work with public institutions, NGOs, and local governments based on the environment's needs, sports, education, and health. Under the umbrella of SOCAR Türkiye Volunteers, which was established with the initiative of all our group employees, we carry out activities that create added value in the environment, health, sports, animal protection, and social issues.
We Support Students and Education
We brought Petkim Primary School and Gazi Primary School in the Petkim Complex, Petrokimya Primary School and Haydar Aliyev Technical and Industrial Vocational High School in Aliağa district center, and Latife Hanım Primary School in Karşıyaka Yamanlar district into the Turkish education system.
Azerbaijan People's Republic 100th Year Primary School located in Izmir Bayraklı, financed by Petkim, was built with renewable energy systems with the funds provided by our company. This green school is the first public school that stands out with its capacity to generate its own energy from renewable sources.
We provide equipment support to universities, scientific institutions, and vocational high schools. We also sponsor symposiums organized by universities with the confidence we have in scientific studies.
Every year, we organize internship programs for vocational high school and university students and contribute to their personal and professional development. In 2021, we launched the "Engineer Girls of Türkiye" project with the Limak Foundation, which seeks to ensure that women play a greater role in social life and have equal representation in all sectors. Thanks to the project, we provided scholarships, internships, mentoring, and online English education support for 3 years to 10 female students studying in the Department of Chemical Engineering.
The project we initiated for the Business Department at Ege University includes two business simulations on topics such as 'Global Competition' and 'Marketing.' These simulations were purchased from an international company and presented to a total of 60 students across two classes. In 2023, we expanded the project by collaborating with 9 Eylül University, assisting 95 students in applying their theoretical knowledge into practice and enhancing their decisionmaking skills.
We Enhance Social Awareness
In recognition of the importance of raising the awareness of children of the need for sustainability during early education, we have implemented the “Lifelong Sustainability Transformation Workshops for the Future of the World” in cooperation with the Aegean Contemporary Education Foundation (EÇEV). This project aims to bring sustainability to families and homes, to help it internalized and to teach the sustainability concept to children together with their families.
We Perform Life Cycle Assessment (LCA)
We are improving the sustainability of our production process through the Life Cycle Assessment (LCA) Project of ACN (Acrylonitrile) and C4 products initiated in collaboration with Izmir University of Economics. We track the process from the entry of crude oil into the STAR Refinery to the transfer of naphtha to Petkim and calculate its environmental impacts such as carbon footprint, water consumption, and acidification.
The project contributes to Petkim meeting customer expectations in terms of sustainability. Additionally, it holds significance in enhancing production process efficiency, minimizing environmental effects, and being prepared for the upcoming Border Carbon Adjustment.
We Value Our Environment
Our goal of "protecting people and the environment" is one of our strategic priorities, and we are achieving this with our Integrated Management System Policy. Recognizing our environmental responsibilities, we strive to support society and protect the environment and all living creatures. We plan our activities by their environmental aspects, and we establish prevention systems that are accepted worldwide and based on risk assessment to control safety and environmental risks. We also invest in projects that put human health, the environment, and the benefits of society first.
We lead initiatives to protect biodiversity and ecosystems in the fight against wildfires.
We Take Strong Steps towards Decarbonization
Developments such as the Paris Climate Agreement, of which Türkiye is also a part, and the European Green Deal, are increasing the critical role of the energy sector in mitigating climate change. We are aware of the importance of adaptation efforts and the planned carbon tax applications in our country. Within the scope of our sustainability strategies, our primary focus is on decarbonization efforts. We aim to reduce absolute emissions from our operations by 40% by 2035 and achieve a net-zero emissions target by 2050.
Our goal is to reduce Scope 1 and 2 emissions by 40% by 2035 and reach net-zero emissions by 2050.
| Greenhouse Gas Emissions | Unit | 2021 | 2022 | 2023 |
| Scope 1 | Ton CO2e | 1.889.432,49 | 1.838.002,77 | 1.950.750,15 |
| Scope 2 | Ton CO2e | 92.067,21 | 29.725,58 | 16.207,32 |
We Manage Our Emissions
As part of our ongoing efforts to reduce emissions, SOCAR Türkiye continuously monitors and controls the sources of its emissions. For the protection of the local air quality, our refinery and petrochemical facilities must have all their emission sources controlled and managed.
At Petkim and STAR Rafineri, accredited laboratories conduct annual measurements of flue gas emissions and air quality, while at SOCAR Depolama, emission tests are conducted every two years. In accordance with the legislation published by the Republic of Türkiye Ministry of Environment, Urbanization and Climate Change, we have Continuous Emission Measurement Systems (CEMS) in our chimneys. With the use of Continuous Emission Measurement Systems, the official institution can monitor online if the emissions brought on by the operations of the units comply with the limit values established in accordance with the law.
| Air Emissions (Petkim) | Unit | 2021 | 2022 | 2023 |
| NOx | Tons | 2.227,16 | 2.040,92 | 1.446,40 |
| SOx | Ton | 1.040,96 | 631,68 | 942,29 |
| CO | Ton | 794,54 | 377,00 | 351,10 |
| PM | Ton | 10,64 | 7,35 | 13,16 |
| VOC | Ton | 0,93 | 0,05 | 1,05 |
| Other10 | Ton | 0,56 | 0,45 | 0,76 |
GCC Voluntary Emission Reduction Certification Process
Our Wind Energy Plant (WEP) project, completed in 2017, consists of 17 wind turbines with a total mechanical capacity of 51 MW. We aim to promote the impact of Petkim WEP on renewable energy generation and internationally document the greenhouse gas emission reduction achieved by the project. In line with this, we are supporting initiatives conducted under the Global Carbon Council (GCC) Voluntary Emission Reduction Certification.
Determination of Industrial Emission Strategy of Türkiye Project
The Republic of Türkiye's Ministry of Environment, Urbanization, and Climate Change is actively working on incorporating the EU Integrated Pollution Prevention and Control (IPPC) Directive into national legislation. As a project partner for the chemical industry, we actively participated in the Determination of Türkiye's Industrial Emission Strategy (DIES) Project under IPPC. In this project, we played an active role in areas such as creating the IPPC system's infrastructure, establishing compliance requirements, conducting sectoral compliance analyses, and determining compliance requirements
Capacity Increase and Carbon Footprint Reduction Project
We integrate the 5S methodology comprehensively into our sustainability efforts. In this context, we initiated Capacity Increase and Carbon Footprint Reduction Project through 5S Implementation in Product Packaging and Storage Areas. Thanks to this Project, we received the silver prize at the annual 'Successful Team of the Year' awards organized by KalDer’s İzmir branch.
International Sustainability and Carbon Certification
We are actively striving to decrease the absolute emissions from our operations. As part of these efforts, we have achieved the ISCC (International Sustainability and Carbon Certification) Plus certification, affirming our adherence to sustainable production criteria. This certification also demonstrates the transparent traceability of sustainable raw materials and products made with these raw materials throughout our supply chain.
We Optimize our Water Consumption
We consider water consumption generated during our activities as one of the significant environmental impacts. We use water, a finite resource on our world, effectively while also reducing the amount of clean water we use through recycling. Awaring of the importance of optimizing water use in our current operations, we take swift action to detect and rectify leaks in our factory's firewater, process water, and cooling water systems. By continuously monitoring and recording water consumption quantities, we conduct improvement initiatives.
| Year | PETKİM (m3/y) | STAR (m3/y) | STAD (m3/y) | TÜPRAŞ (m3/y) | İZSU (m3/y) | Total Consumption (m3/y) |
| 2016 | 19.942.858,00 | 0,00 | 6.670,00 | 8.432.131,00 | 2.096.235,00 | 30.477.894,00 |
| 2017 | 20.243.901,00 | 0,00 | 5.695,00 | 7.644.440,00 | 1.900.430,00 | 29.794.466,00 |
| 2018 | 17.549.552,00 | 2.146.683,00 | 21.175,00 | 7.189.735,00 | 1.556.422,00 | 28.463.567,00 |
| 2019 | 17.386.482,00 | 6.108.254,00 | 23.885,00 | 8.688.488,00 | 1.467.986,00 | 33.675.095,00 |
| 2020 | 14.912.543,00 | 6.678.731,00 | 37.250,00 | 6.211.766,00 | 1.489.702,00 | 29.329.992,00 |
| 2021 | 14.042.658,00 | 6.544.610,00 | 14.594,00 | 6.181.626,00 | 1.356.023,00 | 28.139.511,00 |
| 2022 | 10.064.627,00 | 7.430.897,00 | 28.211,00 | 7.252.658,00 | 1.428.570,00 | 26.204.963,00 |
| 2023 | 15.941.972,00 | 7.159.878,00 | 35.831,00 | 7.274.155,00 | 1.367.793,00 | 31.779.629,00 |
SOCAR Türkiye's business strategy focuses on systematically managing the social, economic and environmental impacts of its activities, beyond financial contribution. This approach emphasizes that the company not only aims for profit, but also considers its impact on society, the economy and the environment. SOCAR Türkiye adopts policies that prioritize the management of social, economic and environmental impacts in order to achieve its goals. It shapes its activities and directs performance results in line with the company's sustainability priorities and the United Nations Sustainable Development goals. In this context, special importance is given to reducing water consumption and circular economy issues in company policies.
In line with our sustainability strategy, we aim to minimize the risks arising from the effects of climate change, while also utilizing the opportunities arising from these results with maximum benefit. As part of our strategy, we focus on reducing water consumption from our operations and implement water efficiency initiatives operationally. On the other hand, we continue our water recovery and receiving environment quality improvement efforts without slowing down.
As SOCAR Türkiye; In order to be prepared for the risks of climate change predicted at the global level, we closely follow the work carried out by the competent authorities in the field of water management. In the light of these studies, the potential challenges that our STAR Refinery, Petkim Petrochemistry and SOCAR Storage Production Units, which operate in the SOCAR Türkiye Refinery and Petrochemical Business Unit, as well as local governments and other stakeholders may face in the coming years (until 2100) are being evaluated in detail. When we examine the studies carried out, if the risks related to global climate change materialize; It is anticipated that concrete negative effects will be seen in our region as well. It is predicted that the temperature increase in the region where we operate as SOCAR Refinery and Petrochemical Business Unit will vary between 3.5 and 5°C by 2100. The negative effects that will arise due to this temperature increase will make water management in our region more challenging.
Güzelhisar Dam, whose operational responsibility lies with Petkim, plays the most important role in meeting the water needs in our region. SOCAR Refinery and Petrochemical Business Unit facilities and stakeholder organizations benefit from Güzelhisar Dam, and it is anticipated that it will continue to provide uninterrupted water supply to the region in the future. However, the decrease in other water resources in the surrounding regions increases the demand for clean water from Güzelhisar Dam. Factors such as irregular and excessive sudden rainfalls or prolongation of dry seasons along with climate change may pose risks of insufficient basin water reservoirs and deterioration of water quality. Therefore, our priority is; It is to make future needs and resource use more efficient in a planned manner with stakeholders.
With this perspective, the projects and practices carried out specifically for Petkim factories in the past years have yielded results and Petkim's clean water usage amount has been reduced by 20% compared to previous years. It is planned to increase this rate even further by planning to implement the projects given in Table 1 until 2033.
As SOCAR Refinery and Petrochemical Business Unit; We are taking actions for the risks that may arise in water supply and management due to climate change. In order to be a solution partner to this problem that may occur in our region; We carry out joint cooperation studies with relevant stakeholders and local governments in terms of reducing water use.
In addition to these studies we carry out in our region, we also work on short, medium and long term plans and projects specifically for our facilities.
Along with our above-mentioned studies on water efficiency and sustainability of supply under the title of water management; We are trying to reduce our impact on the receiving environment by increasing the quality of purified water. The construction of the Petkim New Wastewater Treatment Plant Project, one of our most important projects, has started. Phase – 1 construction process will be completed in 2024. The next phases are planned to be built in the coming years. Here, purified water discharge quality is targeted above the currently met legislative obligations. On the production factories side, additional investments and engineering studies to increase the efficiency of the Petkim Wastewater Treatment Plant process continue. The list of projects related to the subject in the coming period is shared in Table - 2.
Petkim General Water Management Improvement Projects
| Project Name | Saving | Description |
| Güzelhisar Dam pipe line repair and maintenance works | Ton Raw water | Plant raw water reliability will be ensured by line maintenance through works. |
| Reducing the use of cooling water also reduces the amount of continuous blowdown from cooling towers. | Ton Cooling Water | Since 1% of the cooling water circulation is blowdown, the effluent will decrease by 1% of the total savings. |
| Recovery of Steam Condensate of Plants | Ton Condensate | Since the blowdowns go directly to the wastewater system, all the gains will reduce the amount of effluent. |
| Reducing fire water usage | Ton Fire Water | Reducing leaks, renewing fire lines, preventing their use in cooling processes. |
| Blowdown Optimization | Ton Boiler Feed Water | Since the blowdowns go directly to the wastewater system, all the gains will reduce the amount of effluent. |
| Water saving at entire complex with operational improvement and maintenance activities. | Ton Raw Water | 2021 achivement is 4,1%. 2022 target is 1% saving and 5 initiatives realisation |
| Installing meters to monitor waste treatment raw water consumption and the amount of consumption. | Ton Raw Water | The raw water used is discharged by the waste treatment system. The amount of effluent that is reduced will therefore decrease. |
| Deaerator working pressure and steam consumption optimization | Ton Boiler Feed Water | Blowdown in Petkim boilers will be reduced by 1% of the decreasing steam. |
| Waste Water Recovery of waste water treatment plant effluents | Ton Process Water | Target is 60% of waste water recovery |
Petkim Wastewater Management Improvement Projects
| Project Name | Saving | Description |
| Ultra filtration in PVC wastewater | PVC PLANT | Water and product recovery with ultra filtration in PVC wastewater |
| Phase – I New Holding Press Project & Phase – II New wwtp stages construction | PWWTP | An alternative 15000 m3 waste water holding pool will be built inside the AGU, such as the existing holding pool, and the wastewater will be rested and sent to biological treatment in a more stable pollution. |
| Vacuum Truck Discharge Area Project | PWWTP | There is no vacuum discharge unit in the existing Petkim AGU unit, and waste vacuum trucks generated within the units throughout the entire peninsula are discharged into the holding basin, creating undewatered waste sludge. Since the waste sludge formed is very difficult to manage, it was decided to build a vacuum truck discharge unit to make sludge management more efficient. |
| Treatment of PTA Wastewater | PWWTP | The impurities in the PTA Wastewater, which cannot be treated in the existing Petkim wastewater treatment plant, will be removed at the uniq process. |
| Petkim Wastewater Treatment Plant Biological Sludge Transfer System Establishment Project | PWWTP | When Petkim biological treatment is affected by factory upsets, additional sludge formed should be disposed of quickly and wastewater should be treated better. |
| Petkim WWTP Chemical Decanters System Revision | PWWTP | Centrifuge decanters cannot be operated due to insufficient electrical & instrumental infrastructure of chemical centrifuge decanters in the existing Petkim AGU. Infrastructure strengthening work has been initiated for the commissioning of decanters. |
| Petkim Chemical ww Treatment System Sludge Transfer System Establishment Project | ||
| AGU & 445 Mobile Oil Water Separator Supply | PWWTP | The process of procuring a mobile oil separator has been initiated for the recovery and removal of hydrocarbons & slops remaining on the water surface of the Holding and Inspection Pools. |
| Drain system Renewing at Peocess Sites | Plants | It covers projects to reduce the products in wastewater sent to the wastewater treatment system of factories; AROM, ACN, ETHYLENE, EO/EG Plants. |
We Support Sustainable Development in Waste Management
We assess the waste generated during our operations using the 'waste management hierarchy,' which encompasses stages like prevention, reuse, reduction, recycling, and disposal. Within the framework of the Zero Waste Management System, we diligently apply the requisite protocols to avert or minimize waste production across our production, consumption, and service processes. This system has received certification through a Zero Waste Certificate issued by the Ministry of Environment, Urbanization, and Climate Change. Through this system, our objective is to decrease the volume of waste requiring disposal, take measures to safeguard the environment, human health, and all resources, prevent waste, and enhance resource efficiency.
| Amount of Wastes | Unit | 2021 | 2022 | 2023 | |||
| (Petkim) | Hazardous | Non-Hazardous | Hazardous | Non-Hazardous | Hazardous | Non-Hazardous | |
| Reuse | Tons | - | 2.738,42 | - | 2.754,30 | - | 3.193,02 |
| Recycling | Tons | 11.258,67 | 7.683,14 | 17.822,93 | 5.760,73 | 5.713,12 | 8.824,74 |
| Sanitary Landfill – Delivered to Landfill | Tons | 1.730,10 | 15.750,10 | 6.551,20 | 219.994,11 | 15.821,01 | 60.325,59 |
| Incineration | Tons | 577,14 | - | 927,68 | - | 1.889,87 | - |
| Total | Tons | 13.565,91 | 26.171,66 | 25.301,81 | 228.509,14 | 23.424,00 | 72.343,35 |
| TOTAL | Tons | 39.737,57 | 253.810,95 | 95.767,35 | |||
We also attempt to be a solution partner in waste management by opening the waste disposal facility we established in Petkim and authorized in 2006 to third parties.
We provide sustainable management of the environment and contribute to the circular economy with our Environmental Permit and License document, which includes Air Emission, Waste Water Discharge, Waste Incineration, Co-incineration, and Waste Acceptance Facility.
“Our SOCAR Türkiye R&D team makes significant contributions in the fields of environment and biotechnology by carrying out pioneering projects in the field of wastewater treatment. These projects support the protection of water resources and environmental sustainability by using innovative technologies and biotechnological solutions.
Forms and Documents Related to Waste Collection
Our Employee in the Waste Receiving Department
|
Authorized Person |
E-posta |
Phone |
|
Berat Köse |
berat.kose@socar.com.tr |
The following actions are taken in purchasing and supply chain activities to support sustainability efforts:
- Content regarding energy efficiency/use of requested materials (PRs) in purchasing processes is determined in the Green Procurement Policy, Evaluate Bids Quotations MM Procedure, MM Check Stock Availability and Create PR Procedures. Additionally, the practices are carried out within these scopes. detailed information, please contact our Procurement Department.
- In the realm of sustainability, we are focusing on energy efficiency opportunities to support SOCAR Türkiye's decarbonization strategy. In this context, we started using electric forklifts in our sales warehouses as of March 2023.
- Employees of service providers/contractors operating in SOCAR Türkiye Refinery Petrochemical Business Unit site must get an obligatory training session before entering the operation site. Environmental contents are included in the training scope. For detailed information, please contact our HSE Department.
- For service providers/contractors operating within the SOCAR Türkiye Refinery Petrochemical Business Unit site, as part of procurement and supply chain processes, annual field inspections are conducted with the participation of the Procurement Department and other relevant departments. Any deficiencies identified during field inspections are reported to the service providers/contractors for corrective actions. Necessary actions are taken in accordance with procedures for non-compliant service providers/contractors. For more information on this matter, please contact our Procurement Department.
- As SOCAR Türkiye, we have memberships in the UN Global Compact and the Business and Sustainable Development Council. For detailed information, please contact our Communication and Sustainability Department in this context.
- All group companies under SOCAR Türkiye carry out their activities within the scope of the SOCAR Türkiye Code of Ethics, prepared in accordance with the Constitution of the Republic of Türkiye, the United Nations Universal Declaration of Human Rights and the International Labour Organization's fundamental conventions. As well as our employees, we expect our business partners and suppliers/contractors acting on behalf of SOCAR Türkiye in accordance with our Code of Ethics. For detailed information on this matter, you may review the Code of Ethics shared on SOCAR Türkiye and Petkim websites.
This policy outlines SOCAR Türkiye's approach to identifying and managing risks, and defines the responsibilities of the Board of Directors, Management, and other employees within the Company regarding risk management. The policy aims to embed the need for risk management as a part of the Company's culture, where a shared understanding of risk enables well-informed decision-making, and to define the principles SOCAR Türkiye adheres to in order to achieve its risk management objectives. The purpose of the "Corporate Risk Management Policy" is to make risk management an integral part of the Group Companies' culture, where a shared understanding of risk supports well-informed decisions.
This policy applies to all organizational levels and all companies within SOCAR Türkiye.
SOCAR Türkiye recognizes that effective risk management is a fundamental component of successful corporate governance and is critical to the Company’s ongoing growth and success. SOCAR Türkiye is committed to ensuring that risk management is implemented across the organization to fulfill corporate governance responsibilities and achieve strategic objectives.
Corporate Risk Management enables SOCAR Türkiye to identify and manage risks to achieve the following objectives:
- Improve business performance by identifying growth opportunities.
- Stay innovative and gain competitive advantage.
- Anticipate uncertainties and establish necessary communication.
- Minimize operational losses and unexpected impacts.
- Protect the Company’s value by managing reputation and brand.
The objectives of SOCAR Türkiye’s Corporate Risk Management Policy and Framework are:
- To provide a consistent and systematic approach to identifying, analyzing, evaluating, mitigating, monitoring, and reporting on the risk portfolio.
- To deliver actionable assessment outcomes that contribute to achieving strategic objectives.
- To ensure that Management is provided with the best available information for decision-making.
- To ensure that decisions align with the Company’s risk appetite, are made within approved risk tolerances, and are subject to adequate independent oversight.
- To provide reasonable assurance, through internal control and internal audit activities, that internal controls are in place and operating effectively and efficiently.
SOCAR Türkiye will provide the necessary resources and support mechanisms to ensure the fulfillment of its Risk Management commitment.
Each Group Company, its management, and employees are responsible for implementing the requirements of this policy in consultation with the Corporate Risk Management Department. The cooperation of all employees is required, and collaboration is expected from everyone. Effective risk management is vital for SOCAR Türkiye’s continued growth and success.
CORPORATE RISK MANAGEMENT STUDIES IN SOCAR TÜRKİYE
At SOCAR Türkiye, we have adopted a transparent, accountable, fair and responsible risk management process that is compatible with variable business and environmental conditions and pro-actively addresses risks and opportunities that may affect our operations and our stakeholders. As SOCAR Türkiye, we follow a comprehensive corporate risk management model in order to manage the risks we may be exposed to and the opportunities that may arise, to track the changes of these risks and opportunities over time, and to successfully achieve our sustainability goals. We further evaluate the risks that may affect our operations and future performance in the short, medium and long term in addition to our current risks and take the necessary precautions and actions accordingly.
SOCAR Türkiye Risk Management Unit is positioned under the Board of Directors in a centralized manner within the organization in order to provide support to all subsidiaries on senior management and unit basis in accordance with international standards, particularly ISO 31000 Risk Management.
We refer to the "SOCAR Türkiye Risk Appetite Declaration" approved by the Board of Directors in 2020 and examples of best practices around the world while pro-actively addressing our risks and opportunities which we monitor at regular intervals. We have developed the “SOCAR Türkiye Risk Appetite Tolerance Limit Policy”, which determines the approach to determining, monitoring and reporting the approved Risk Appetite Statement, in order to support the implementation of the risk appetite concept. This document provides a methodological guidance across the organization to define the implementation of required activities. Regarding the tracking and monitoring of KRIs and Exposure Metrics, periodic reviews are carried out to ensure compliance with strategic and operational goals, thus ensuring the efficiency, objectivity and independence of corporate risk management studies.
Our risk management processes are audited by the Early Detection of Risk Committee, on behalf of the Board of Directors, in accordance with the risk profile of our company. Relevant processes are executed by our experts in business units, within the framework of the resolutions adopted by the Group Risk Committee, which operates under the CEO at the senior management level. Early Detection of Risk Committee provides consultancy and suggestions to the Board of Directors about the early detection and assessment of all kinds of risks that may affect our company, calculating the impact and probabilities thereof, management and reporting these risks in accordance with the company's corporate risk taking profile, implementation of the necessary actions regarding the identified risks and taking them into consideration in decision-making mechanisms and establishing effective internal control systems accordingly. In this context, target-based risk assessments are made for the purpose of ensuring the necessary actions to be taken in a timely manner to achieve the targets through potential impact analyzes and probability calculations and allowing the relevant resources to be used based on these criteria.
Besides monitoring our risks and opportunities at regular intervals, we further support our decision-making processes from a risk perspective by making situation-specific risk assessments at strategic investment demands that we may encounter in business processes, critical stages of projects and decision moments that may significantly affect operations.
To access more detailed information, you can review SOCAR Türkiye and Petkim Annual Integrated reports.
Risk Management Studies in ESG and Sustainability Areas
In addition to the traditional risk registry list that SOCAR Türkiye has prepared during the reporting period, we further created our ESG (Environmental, Social and Governance) risk registry list, including our climate-related risks, in which sustainability risks are fully integrated into the process. We then re-evaluated the risk items in our risk registry, which was developed as the end of a comprehensive workshop held with the attendance of relevant individuals from all business units, taking into account the global sustainability agenda, mega trends and current reporting standards such as the Paris Climate Agreement, European Green Deal and Net Zero Carbon. We grouped them under environmental, social and governance headings. The list was developed taking into account the requirements of the ISO 31000 Risk Management System Standard as well as the IFRS S1 and S2 Standards. Our assessment includes possible priority issues regarding the short, medium and long-term consequences of the risks, their connections with the climate (physical, transition), maturity, severity, probability of occurrence, measures and actions we take to manage the risk in the short, medium and long term, emerging opportunities, relevant capital element and risk-related factors.
You can see the ESG focused threats and opportunities tables below: