Kibar Holding continues to increasingly contribute to the sustainability ecosystem

August 2024

Disclosing its economic, social, and environmental performance to all stakeholders in a transparent manner through sustainability reports on a yearly basis, Kibar Holding published its 11th Sustainability Report this year.

Having integrated its sustainability mindset, standing at the core of its growth strategy, into all of its processes, the Kibar Group published the 11th sustainability report to disclose its economic, social, and environmental performance to the public.

Haluk Kayabaşı, the CEO of Kibar Holding, provided his insights about the report and stated that the Kibar Group had continued to be a key player in the Turkish economy in 2023 with exports to over 100 countries while contributing to the growth of the economic development and social welfare empowered by its history dating back to over half a century. Kayabaşı emphasized that their driven commitment to achieving economic growth in line with the sustainability principles and their activities carried on in compliance with the international standards in this field had a considerable influence on the success story of the Kibar Group. Kayabaşı also highlighted that they had implemented nearly 100 new projects to contribute to taking action against climate change as well as contributing to the circular economy during the last four years.

The Kibar Group continues to grow consistently and create value for all its stakeholders with the values of reliability, integrity, diligence, flexibility, and innovation while ensuring recycling and recovery of all wastes by constantly revising its production processes in all sectors in which the Group operates.

In the report, it was documented that 30.9% of the raw materials used in 2023 within the Kibar Group were recovered thanks to these activities intended for the efficient use of resources and providing environmental benefits. According to the report, the recovery rate of wastes at the Group companies increased to 99.1% in 2023.

Having adopted a sustainable governance approach in all practices, activities, and decision-making mechanisms, the Kibar Group integrates economic, environmental, and social factors into corporate governance principles. The report also includes the 2023 progress for the 36 targets followed by the Group with 92 performance indicators within the scope of the “Kibar Group’s 2025 Sustainability Strategy,” developed in 2019.

Total Support to Gender Equality

The Kibar Group continues to implement practices that promote women’s participation in business life and empower them under the “WE Are Equal” initiative to preclude gender inequalities by addressing this issue as one of its sustainability priorities. According to the report, the number of women employees at Kibar Holding increased by 93.2% in 2023 compared to 2016 (reference year) and 25.3% compared to the previous year.

As a result of its gender equality policies as a signatory of the Women’s Empowerment Principles (WEPs), Kibar Holding has increased the number of women employees by 54% and the number of women senior executives by 42% in the last seven years. In 2023, Kibar Holding received the Equal Opportunities Model (FEM) certificate granted by the Women Entrepreneurs Association of Türkiye (KAGIDER) and has been implementing numerous practices for many years to promote gender equality.

Many projects have been implemented

The report also included various sustainability projects implemented by the Group companies. In collaboration with Kocaeli University within the scope of the strategy to protect biodiversity, Assan Alüminyum, one of the companies of the Kibar Group, reproduced the plant species ’Riva Mullein (Verbascum bugulifolium)’ by biotechnological methods following the reproduction of the endangered plant species ’Blue Star (Amsonia orientalis)’ and ’Sea Daffodil (Pancratium maritimum)’.

With its investments in renewable energy sources for the sustainable future of energy, Kibar Holding has neutralized the electricity consumption-related emissions of Assan Alüminyum, one of its energy-intensive companies, as of 2021. In 2023, it secured a loan of $90 million from the International Finance Corporation (IFC) for investments intended for reducing greenhouse gas (GHG) emissions, becoming the first company ever to receive 100% climate-labeled green loan support in its business sector. In addition, Assan Alüminyum and İspak began reporting within the scope of the Carbon Disclosure Project (CDP) in 2023. Assan Alüminyum became the first company to participate in the CDP platform in our country’s aluminum sector.

The quantity of recycled waste has increased

According to the report, the quantity of raw materials reused after recycling at the Kibar Group Companies has increased by 58% in the last seven years. With the Waste Water Recovery Facility investment in Asım Kibar Organized Industrial Zone, approximately 500,000 m3 of water was recovered in a year.

Nearly 100 projects focusing on education and children with over 500 volunteers have been implemented through the ‘Kibar Volunteers‘ platform for more than five years. The area of influence was expanded by adding five more regions in 2023.

The ‘Kibar Holding Supplier Sustainability Program/K-STAR,’ the world’s first program in terms of its scope of inclusion, was implemented in 2023. The ecosystem, consisting of over 5,000 suppliers of large-scale businesses and SMEs as well as customers from over 100 countries, was transformed into the Group’s business partners in sustainability. The area of influence was also expanded by sustainability training programs designed specifically for all stakeholders of the Group.

The Kibar Holding Sustainability Information Management System was deployed and integrated into decision-making mechanisms as a system in which data are collected, analyzed, inquired, and reported in a digital environment within internationally recognized sustainability standards.

The report once more emphasized that the Kibar Group, having adopted an inclusive, innovative, environmentally-conscious, human-oriented, and community-oriented governance approach, continued to move forward in line with tangible targets by carrying on its activities in the light of the ‘Kibar Group’s 2025 Sustainability Strategy,’ taking into consideration economic, social, and environmental aspects in all activities and decision-making mechanisms.