Dear Colleagues,
In 2024, as global efforts continued to realize the green transformation at the heart of the energy transition—aimed at preventing the adverse impacts of climate change—the rise of green energy was driven by a leadership race among countries in areas such as innovation, access to critical raw materials, economic growth, and employment. Alongside the policy steps taken for energy transformation, investments in efficiency and renewable energy also continued. A delicate balance was sought between the global goals of controlling inflation and avoiding recession, geopolitical risks, and maintaining economic stability.
While tight monetary policies exerted pressure on growth, a slowdown in global trade also became apparent. That being said, strong signals emerged of trade wars likely to be shaped around energy dominance. Amidst this period of growing uncertainties, Kibar Group maintained its financial stability and met its growth targets.
In 2024, we achieved a 35% increase in sales revenue compared to the previous year. With exports exceeding USD 3.26 billion to over 100 countries, Kibar Dış Ticaret ranked as the fourth largest exporter in Türkiye and maintained its position as the leading exporter in the ferrous and non-ferrous metals sector. In this success, I would like to emphasize that our determination to achieve economic growth fully aligned with sustainability principles, along with our systematic planning and effective implementation developed through a holistic approach, have been critically important. As part of our sustainability strategy, which is one of the initiatives within this framework, we reached nearly all of our 2025 targets ahead of schedule. In line with our 2030 strategy built upon this foundation, we have elevated and updated our targets to a more advanced level. We continue to invest in renewable energy for a sustainable energy future.
In 2024, we added ground-mounted and rooftop solar renewable energy facilities to our portfolio. Since 2021, Assan Alüminyum, one of the Group’s energy-intensive companies, has been offsetting its Scope 2 emissions resulting from electricity consumption. With our Wastewater Recovery Plant investment in the Asım Kibar Organized Industrial Zone, we annually recover more than 500,000 cubic meters of water. Moreover, in 2024, we increased efficiency in natural resource usage thanks to the water recovery plant we commissioned in Tuzla. In 2024, we recovered 34.5% of the raw materials used. We have increased the amount of recycled and reused raw materials by 26% and raised the waste recovery rate to 99.3% over the past five years. Within the framework of our biodiversity conservation strategy, we reintroduced the endangered “Blue Star” and “Sand Lily” plants into the ecosystem in cooperation with Kocaeli University. In 2024, through the same cooperation, we enabled the reproduction of the endangered “Verbascum bugulifolium” plant using biotechnological methods. We also launched a project to reintroduce the “Kilyos Button” plant into its natural habitat. We were awarded the ‘EQUAL-SALARY Certificate’ by the Switzerland-based EQUAL-SALARY Foundation, which independently assesses pay inequality within organizations. We are proud to be the first Turkish Holding to receive this certificate, which confirms that women and men are paid equal wages for equal work. We established the “Kibar Holding Sustainability Information Management System”, where data within the scope of international sustainability standards are collected, analyzed, queried, and reported in a digital environment. This system was designed to ensure the proper management and institutionalization of information resources that we consider critical for sustainable corporate success.
We have also integrated the relevant indicators into our decision-making processes. İnteraktif Çevre, one of our Group companies operating in waste management and environmental consulting, signed a strategic partnership with ClimeCo, a global leader in the field of decarbonization. With the establishment of ClimeCo Türkiye in 2024, we further strengthened our contribution to the sustainability ecosystem. We are pleased to share with you the 12th edition of our sustainability report, in which we present our economic, environmental, and social performance in line with our principles of transparency and accountability. We prepare our reports in accordance with GRI, one of the most widely recognized standards for evaluating corporate sustainability performance, and transparently share our performance with all stakeholders. By adhering to globally recognized frameworks and standards in sustainability, we continuously improve to fully understand and manage the impacts of our operations.
While presenting our contribution to the United Nations Sustainable Development Goals in the Kibar Holding 2024 Sustainability Report, we continued to reference numerous international standards, including the United Nations Global Compact (UNGC), Women’s Empowerment Principles (WEPs), World Economic Forum Stakeholder Capitalism Metrics, and the Task Force on Climate-related Financial Disclosures (TCFD). We are broadening the scope of accountability alongside maintaining high standards of transparency in corporate sustainability. We also allow non-financial information related to our activities to undergo an independent audit. Starting from 2020, we have ensured that all our environmental, social, and governance indicators are verified by independent auditors under the International Standard on Assurance Engagements (ISAE 3000) and Assurance Engagements on Greenhouse Gas Statements (ISAE 3410).
Our Kibar Holding 2023 sustainability report received five awards across three different international platforms. It was awarded the “Gold” award in the “Annual Report” category at the Vision Awards organized by the League of American Communications Professionals (LACP). Our report was honored with the “Technical Achievement Award” for overall excellence in communication art and methodology, as well as the Silver award in the “Best in House” category. Moreover, we are proud to have received the “Special Achievement Certificate” at the Vision Awards in recognition of winning awards for three consecutive years. It was awarded the Gold Award at the IADA International Annual Report Design Awards and the Bronze Award in the “Innovation in Annual Reporting Award” category at the Stevie Awards. I would like to thank our colleagues, customers, suppliers, business partners, and all stakeholders who have contributed to our work in line with our 2024 goals.
Haluk Kayabaşı
CEO