GREEN GUIDE EMEA 2023: Turkey
Dentons
Dentons , a signatory of the UN Global Compact, has demonstrable experience in the sustainable finance space in its Istanbul office, with a focus on green bonds. It has recently advised EBRD on two matters: Firstly, on its first true green financing to Arçelik following LMA Green Principles in Turkey and consisting of a loan with the value of €150m, which will be used to invest in the production activities in the field of sustainability in line with Arçelik’s Green Financing Framework; and secondly, on a green loan worth €25m to QNB FinansLease under the Turkiye Green Economy Finance Facility, which will be used for renewable energy projects in the region.
Internally, the firm counts with a sustainability and governance committee and a global ESG steering committee. Under its Europe sustainability policy, the firm undertakes initiatives to promote effective waste management and energy use, reducing its carbon footprint. Recently, the firm secured an Ecovadis Bronze Award status.
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Dentons
Dentons , a signatory of the UN Global Compact, has demonstrable experience in the sustainable finance space in its Istanbul office, with a focus on green bonds. It has recently advised EBRD on two matters: Firstly, on its first true green financing to Arçelik following LMA Green Principles in Turkey and consisting of a loan with the value of €150m, which will be used to invest in the production activities in the field of sustainability in line with Arçelik’s Green Financing Framework; and secondly, on a green loan worth €25m to QNB FinansLease under the Turkiye Green Economy Finance Facility, which will be used for renewable energy projects in the region.
Internally, the firm counts with a sustainability and governance committee and a global ESG steering committee. Under its Europe sustainability policy, the firm undertakes initiatives to promote effective waste management and energy use, reducing its carbon footprint. Recently, the firm secured an Ecovadis Bronze Award status.
Cigdemtekin Cakirca Aranci Law Firm
Full-service Turkish firm Cigdemtekin Cakirca Aranci Law Firm counts with a climate change practice group that supports clients and NGOs in the areas of green transformation, sustainable development, and climate change. It also has an ESG and sustainability group which actively engages with clients and tries to encourage them to adopt and integrate sustainability into their corporate strategies.
In an ongoing highlight, the team is representing Egeres Energy across a number of areas, such as green and renewables incentive regimes, the development of solar, wind, and geothermal power projects, and environmental impact assessment reports. The firm also recently advised Turkcell Energy on the acquisition of 100% of the shares of renewable company Boyut Grup Enerji Elektrik Üretim İnşaat San. Ve, which owns and operates a green wind energy farm of 18MW in the Aegean region of Turkey. Other organisations which seek the firm’s ESG-related advice include CEECAT Capital, Rafinera, and Scoutium.
Alongside its advisory work, the firm has published a number of articles on various aspects of ESG, green finance, and the Green Deal, such as ‘Guidelines Applicable to Green and Sustainable Bonds in Turkey’, and ‘Turkey’s Next Step Towards a Greener Economy: Sustainable Finance Framework’.
In 2022, managing partner Gamze Çiğdemtekin Özer prepared an updated report for the KAGİDER Women Entrepreneurs Association of Turkey, where she established a Green Deal working group to raise awareness about the EU’s Green Deal, after having published a similar report in 2021. She continuously organises meetings and workshops to increase sustainability awareness among member corporations, while also delivering lectures and classes on climate change and sustainable development on a pro bono basis.
Egemonoglu Law Firm
Full-service Turkish law firm, Egemonoglu has environmental protection high on its agenda, both in terms of client offerings and internal initiatives. ‘Creating Sustainable Value’ is at the heart of the firm’s operations. In addition to everyday measures aimed at minimising environmental impact, the firm collaborates with Green Heroes Turley on the Cyber Clean-Up Initiative to keep digital waste to a minimum and raise environmental consciousness among employees.
The corporate team regularly consult on environmental law, advising a multitude of clients on compliance with EU and Turkish legislation including those under the Circular Economy Action Plan, closely monitoring changes and developments. Clients include, Teknika Plast Teknik Kalıp Plastik San. ve Tic A.S., Maysan Mando Otomotiv Parçaları San. Tic. A.Ş, and Çimtaş Group. Ongoing wastewater management advice for Sınırlı Sorumlu Yeşil Çevre Arıtma Tesisi İşletme Kooperatifi (“Green Environmental Treatment Plant Operation Cooperative”) is led by Günsel Dede.