Our Approach To Sustainability
In 2017, Aksa Energy began executing its strategic investment plan geared toward becoming a global energy player and commissioned three power plants in Africa. In addition to the Turkish Republic of Northern Cyprus (TRNC), Aksa Energy now meets a significant portion of the energy need in Ghana, Madagascar and Mali.
In line with its new investments, Aksa Energy began managing its sustainability initiatives with a more global perspective. The Company makes social and economic contributions to the countries where it operates by creating employment and addressing Africa’s urgent need for energy. Aksa Energy is also committed to upholding basic human rights while conducting its operations even in high risk regions in terms of human rights protection. While decreasing Turkey’s energy dependence with its in-country power generation activities, Aksa Energy also provides power to local communities in emerging markets such as African countries. In addition, the Company contributes to regional economic and social development by creating employment opportunities for local residents.
As a signatory to the United Nations Global Compact since 2017, Aksa Energy is committed to conducting its business operations in line with the 10 principles set forth in the compact. Determining and managing the major environmental impact of its activities and the industry, respecting human and employee rights, and contributing to social development in the regions it operates are among main priority areas for the Company.
Aksa Energy’s approach to sustainability includes a focus on developing business processes and methodologies that integrate advanced technologies. All Aksa Energy employees embrace this innovative approach and corporate culture, paving the way for the Company’s holistic progress. Continuous improvement and development of business processes has a positive effect on the Company’s sustainability performance. Meanwhile, Aksa Energy’s technology and know-how transfer to its operating regions creates a general social benefit.
With a vision of becoming a responsible global energy company, Aksa Energy builds its sustainability strategy on three main pillars -environmental sustainability, social responsibility and employees - and focuses on adding value in these three key areas.
In 2017, the Company updated its policies in line with its new international growth strategy and implemented policy revisions related to the Environment, Occupational Health and Safety, Quality, Energy and Corporate Social Responsibility. On the other hand, with the prioritization analysis made in 2018, the Company revised its priority areas in light of its evolving business strategy and stakeholder opinions.
Stakeholder analysis, global and industrial trends, risks and opportunities, managers’ opinions and corporate strategy were taken into account while determining the priority areas. In line with the business strategy that has evolved over the last three years, contribution to local economy and employment, and accessible energy figure among the newly-emerging areas of focus. Since power generation is an industry that has a high level of environmental impact, climate change, water and waste managements are also among the Company’s priority areas. Occupational health and safety, another priority for the industry, remains among Aksa Energy’s most important focus areas.
The Company established the Sustainability Committee to oversee and guide its environmental, social and governance performance. The Committee is responsible for integrating sustainability in major aspects of the Company’s operations – such as decision-making, management and business processes – and ensuring that Corporate Governance Principles are assessed from this perspective. The Sustainability Committee regularly updates the Company’s sustainability priorities and determines the focus areas under these priorities.
Sustainability of business processes is becoming an increasingly important issue each year, both domestically and globally. Against this backdrop and motivated by this global movement, Aksa Energy assesses the existing risks and embraces sustainability awareness as a strategic priority in all its operations. The Company’s sustainability approach is implemented under the key headings of “Environmental Sustainability,” “Our Employees” and “Social Responsibility.” Aksa Energy aims to leverage its sustainability approach as a competitive advantage on its path to becoming a global power and is committed to making significant strides in this area to bolster its competitive edge.
Aksa Energy has established a Sustainability Committee which reports directly to the CEO. The Committee is responsible for formulating strategies and policies that ensure sustainable implementation of all business processes; taking the necessary steps to put these strategies and policies into practice; overseeing, supervising and improving the strategies and policies. The Committee also ensures effective implementation of the Company’s sustainability-related strategies and policies across the organization.
Aksa Energy set up the Sustainability Committee to include representatives from a number of different departments across the organizationin order to ensure that all the Company’s operations are conducted in harmony with sustainability principles, while providing recommendations and guidance accordingly. The Sustainability Committee is chaired by the Investor Relations and Corporate Communications Director; the Domestic Power Plants Operation and Maintenance Director serves as Vice Chairman; and the Environment and Energy Legislation Executive serves as General Secretary. Members of senior management from Human Resources and Supply Chain appointed by the Board of Directors also serve on the Committee to foster a multi-faceted sustainability approach. In addition, senior executives from Energy Trading as well as Sales and Marketing attend the Committee’s meetings as necessary.
The Sustainability Committee meticulously examines and assesses the impacts of sustainability related activities on the Company’s operations. The Committee formulates recommendations and suggestions resulting from these assessments and reports them to the CEO.
The Sustainability Coordination and Working Group which was established to support the implementation of decisions made by the Committee and is chaired by the Environment and Energy Legislation Executive. Sustainability Coordination and Working Group is comprised of managers from Corporate Finance, Business Processes, Supply Chain and Human Resources as well as specialists from Occupational Safety, Quality, Social Responsibility, Environment and Energy Management Systems.