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Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye
Abstract
This article evaluates climate-related financial disclosures of the banking sector in Türkiye in line with the recent developments in sustainability reporting standards. Our article is the first study to score banks' climate change reports in Türkiye using the Task Force on Climate-related Financial Disclosures (TCFD) criteria. Climate change poses significant risks and opportunities in the financial sector, and the scoring measures banks' awareness of this issue. The scoring is done manually using 2021 and 2023 data from 10 commercial banks. The findings are compared with the Carbon Disclosure Project (CDP) scores and banks' financial indicators. The scoring made with TCFD criteria is observed to have a strong and positive correlation with CDP scores. We also examine whether banks' capacity to manage climate change risks plays a decisive role on financial performance indicators. Although the financial sector indirectly causes carbon emissions, the preparation and evaluation of these reports are important for both the financial health and reputation of banks and the reduction of carbon emissions. A positive but weak relationship is found between the calculated TCFD scores and the banks' financial performance indicators. Sustainability scores of banks in Türkiye regarding climate change have not yet been found to have a significant impact on their financial performance, according to current data.
Keywords
References
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- Friedrich, T. J., Velte, P., & Wulf, I. (2022). Corporate climate reporting of European banks: Are these institutions compliant with climate issues? Business Strategy and the Environment, 32(6), 2817–2834. https://doi.org/10.1002/bse.3272
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- Task Force on Climate-related Financial Disclosures (TCFD) (2024). About the TCFD. Retrieved August 14, 2024, from https://www.fsb-tcfd.org/about/
- Türkiye Bankalar Birliği (2021). Bankalarımız 2021. Retrieved from https://www.tbb.org.tr/Content/Upload/Dokuman/8850/Bankalarimiz_2021.pdf
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Details
Primary Language
English
Subjects
Panel Data Analysis, Econometrics (Other), Ecological Economics, Green Economy
Journal Section
Research Article
Publication Date
June 26, 2025
Submission Date
May 15, 2025
Acceptance Date
June 16, 2025
Published in Issue
Year 2025 Volume: 4 Number: 1
APA
Ulu, T. B., & Başçı, E. (2025). Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye. Uluslararası Güncel Sosyal Bilimler Dergisi, 4(1), 45-53. https://izlik.org/JA49HG75NC
AMA
1.Ulu TB, Başçı E. Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye. CUSOS. 2025;4(1):45-53. https://izlik.org/JA49HG75NC
Chicago
Ulu, Turna Buse, and Erdem Başçı. 2025. “Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye”. Uluslararası Güncel Sosyal Bilimler Dergisi 4 (1): 45-53. https://izlik.org/JA49HG75NC.
EndNote
Ulu TB, Başçı E (June 1, 2025) Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye. Uluslararası Güncel Sosyal Bilimler Dergisi 4 1 45–53.
IEEE
[1]T. B. Ulu and E. Başçı, “Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye”, CUSOS, vol. 4, no. 1, pp. 45–53, June 2025, [Online]. Available: https://izlik.org/JA49HG75NC
ISNAD
Ulu, Turna Buse - Başçı, Erdem. “Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye”. Uluslararası Güncel Sosyal Bilimler Dergisi 4/1 (June 1, 2025): 45-53. https://izlik.org/JA49HG75NC.
JAMA
1.Ulu TB, Başçı E. Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye. CUSOS. 2025;4:45–53.
MLA
Ulu, Turna Buse, and Erdem Başçı. “Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye”. Uluslararası Güncel Sosyal Bilimler Dergisi, vol. 4, no. 1, June 2025, pp. 45-53, https://izlik.org/JA49HG75NC.
Vancouver
1.Turna Buse Ulu, Erdem Başçı. Climate-Related Financial Disclosures: The Case of Commercial Banks in Türkiye. CUSOS [Internet]. 2025 Jun. 1;4(1):45-53. Available from: https://izlik.org/JA49HG75NC