In its 2022 Integrated Report, Tüpraş, which published the first GRI-approved Sustainability Report in the energy sector in Turkey and has been reporting continuously for 16 years, transparently presents its activities covering the first year of the Strategic Transformation Plan. While continuing its investments, tüpraş provides an important roadmap for reducing greenhouse gas emissions through pioneering efforts.The Integrated Report provides a detailed account of Tüpraş's long-term value creation process for its stakeholders. The report covers six main elements and transparently addresses topics under the headings of Finance, People, Production, Intellectual Capital, Community, and Natural Resources.Tüpraş's Integrated Report was prepared in accordance with the Global Reporting Initiative (GRI) standards, as well as the International Integrated Reporting Framework (IIR). It is also the first in the sector in Turkey to comply with the Sectoral Sustainability Accounting Standards (SASB) approach. In addition, the report received limited assurance from an international independent auditing firm for 84 performance indicators, including Scope 1 and Scope 2 greenhouse gas emissions.During the preparation process of the report, prioritization analysis was updated based on the GRI 11 principles, which is the sector standard of the Global Reporting Initiative, considering the double materiality approach. Eight priority topics were identified, and a total of 18 new performance indicators that meet the expectations of global sustainability indices were included in the report. The report comprehensively covers the functioning and activities of the Sustainability Committee established to manage the environmental, social, and corporate impacts of the company's operations."We work tirelessly to create sustainable value for all our stakeholders."Highlighting the pioneering contribution of Tüpraş's Strategic Transformation Plan to Turkey's goal of achieving net-zero carbon emissions by 2053, Tüpraş CEO İbrahim Yelmenoğlu stated, "In our transformation journey, which we initiated by saying 'Our Energy to the Future,' we have built our 2050 Carbon Neutrality target on a balanced and diversified clean energy portfolio. Alongside our main business of sustainable refining, we allocate our investments to sustainable aviation fuels, green hydrogen, and zero-carbon electricity. We expect biofuels to play a significant role in decarbonizing the aviation sector. By processing 400,000 tons of biofuel feedstock by 2030 and tripling our production capacity after 2035, we aim to become Turkey's largest supplier. In the field of green hydrogen, our continuous efforts are focused on establishing a demonstration facility by 2025. In our zero-carbon electricity business, we draw power from our subsidiary, Entek, with a capacity of 442 MW, as we strive to become Turkey's leading producer by reaching 1 GW by 2030. With these efforts, we commit to reducing Scope 1 and 2 emissions from our production activities by 27% by 2030 and by 35% by 2035 compared to 2017 levels."Yelmenoğlu stated, "In line with our goals, we expect to invest $2.7 billion by 2035, with 30% of our EBITDA expected to come from sustainable aviation fuel, green hydrogen, and zero-carbon electricity sales. While maintaining our strong growth momentum through successful operational and financial results, we are working tirelessly to create sustainable value for all our stakeholders.""The integrated report offers a holistic perspective with a long-term value creation model."Sharing his views on the report, Yelmenoğlu said, "As part of our sustainability roadmap, we manage the environmental, social, and governance impacts of our production activities in an integrated manner and internalize them in all our business processes and corporate culture. We validate our efforts by including them in the indices of national and international sustainability evaluators and review them annually, taking into account the expectations of national and global investors. With the Integrated Report we have published for the first time, we present a long-term value creation model and accelerate our strategic transformation journey with a broader perspective for the future, adopting a holistic approach.""We plan to increase the proportion of female employees to 40% within 5 years."Highlighting their efforts to achieve gender equality and create an inclusive workplace as a signatory of the United Nations Women's Empowerment Principles (UN Women WEPs), Yelmenoğlu stated, "We are progressing with the goal of having one out of two new hires be women. We plan to increase the proportion of female employees from the current 24% in fields such as engineering, R&D, innovation, service design, and information technologies to 40% within 5 years."Global Initiatives and TüpraşTüpraş, which integrates sustainability into all its business processes, is among the global companies supporting the Task Force on Climate-related Financial Disclosures (TCFD).The company is listed for the second time on the Bloomberg Gender Equality Index, which is one of the most comprehensive frameworks for gender equality worldwide.Furthermore, as a signatory to the United Nations Global Compact, the largest corporate sustainability initiative worldwide, Tüpraş commits to adhering to the initiative's 10 universal principles.Tüpraş, as the first Turkish industrial company to join Water Europe, the leading stakeholder organization in the European water market, is also a member of Hydrogen Europe, which shapes European-focused green hydrogen initiatives.
