[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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oda_SustainabilityComplianceReportAbstract|
Sustainability Compliance Report
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A. GENERAL PRINCIPLES
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A1. Strategy, Policy and Goals
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A1.1. The prioritised environmental, social and corporate governance (ESG) issues, risks and opportunities have been determined by the Company's Board of Directors.
X
Risks and opportunities pertaining to material environmental, social and corporate governance (ESG) issues have been identified by Akfen REIT Board of Directors. Risks and opportunities pertaining to material environmental, social and corporate governance (ESG) issues have been identified by Akfen REIT Board of Directors.
Sustainability and Climate Change Risks Determination (Pp.103-104-105) Sustainability Management (Pg.106)”
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A1.1. The ESG policies (Environmental Policy, Energy Policy, Human Rights and Employee Policy etc.) have been created and disclosed to the public by the Company's Board of Directors.
X
As Akfen REIT, we carry out our corporate sustainability activities in line with the policies we have determined under four main headings. All of our policies have been approved at the Board of Directors level and are publicly disclosed on our company's website in line with our principle of transparency.
Our Sustainability Policies (Pg.108)
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A1.2. The short and long-term targets set within the scope of ESG policies have been disclosed to the public.
X
Sustainability targets and progress towards these targets are shared in the sustainability report and are also disclosed to the public on our company's website in accordance with the principle of transparency.
Sustainability Goals in Management (Pg.110), Sustainability Goals in Environmental Compliance (Pg.111), Sustainability Goals in Social Activities (Pg.112)
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A2. Implementation/Monitoring
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A2.1. The responsible committees and/or business units for the implementation of ESG policies and the senior officials related to ESG issues in the Company and their duties have been identified and disclosed to the public.
X
As Akfen REIT, we manage the execution of environmental, social and governance (ESG) policies under the leadership of the Sustainability Management Committee and reporting to the Board of Directors. The units, committees and senior managers responsible for the execution of ESG policies are coordinated by the Sustainability Management Committee and Corporate Governance Committee in particular and disclosed to the public through Akfen REIT's website and sustainability reports.
Sustainability Management (Pg.106)
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A2.1. The activities carried out within the scope of policies by the responsible committee and/or unit have been reported to the Board of Directors at least once a year.
X
As Akfen REIT, the Sustainability Management Committee manages environmental, social and governance (ESG) issues in line with the identified sustainability priorities and holds regular monthly evaluation meetings. The outputs of these meetings are reported to the Board of Directors and Corporate Governance Committee.
Sustainability Management (Pg.106)
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A2.2. In line with the ESG targets, the implementation and action plans have been formed and disclosed to the public.
X
As Akfen REIT, implementation and action plans have been created and implemented in line with our ESG targets. These plans are disclosed to the public through sustainability reports and the company website.
Sustainability Goals in Management (Pg.110), Sustainability Goals in Environmental Compliance (Pg.111), Sustainability Goals in Social Activities (Pg.112)
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A2.3. The Key ESG Performance Indicators (KPI) and the level of reaching these indicators have been disclosed to the public on yearly basis.
X
Akfen GYO's current short and long-term targets set by Akfen Holding are shared under the heading of Sustainability Goals, and the relevant Key Performance Indicators (KPIs) are monitored on an annual basis and disclosed to the public through the sustainability report and the company website.
Sustainability Goals in Management (Pg.110), Sustainability Goals in Environmental Compliance (Pg.111), Sustainability Goals in Social Activities (Pg.112)
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A2.4. The activities for improving the sustainability performance of the business processes or products and services have been disclosed to the public.
X
Activities to improve the sustainability performance of our business processes and services have been identified and these activities are disclosed to the public through the Sustainability Report and the company website.
Sustainability Goals in Management (Pg.110), Sustainability Goals in Environmental Compliance (Pg.111), Sustainability Goals in Social Activities (Pg.112)
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A3. Reporting
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A3.1. The information about the sustainability performance, targets and actions have been given in annual reports of the Company an understandable, accurate and sufficient manner.
X
Sustainability performance, targets and actions regarding our company's activities in the field of sustainability are disclosed accurately, comprehensibly and adequately in Akfen Holding Sustainability and Corporate Social Responsibility Report and Akfen REIT Annual Reports. In addition, Public Disclosure Platform (KAP) disclosures, material event disclosures and general assembly information are regularly presented to our stakeholders in the 'Investor Relations' section of our website.
Regarding the Report (Pg.96)
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A3.2. The information about activities which are related to the United Nations (UN) 2030 Sustainable Development Goals have been disclosed to the public.
X
Sustainability performance, targets and actions regarding our company's activities in the field of sustainability are disclosed accurately, comprehensibly and adequately in Akfen Holding Sustainability and Corporate Social Responsibility Report and Akfen REIT Annual Reports. In addition, Public Disclosure Platform (KAP) disclosures, material event disclosures and general assembly information are regularly presented to our stakeholders in the 'Investor Relations' section of our website.
Sustainability Approach (Pg.107)
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A3.3. The lawsuits filed and/or concluded against the Company about ESG issues which are material in terms of ESG policies and/or will significantly affect the Company's activities, have been disclosed to the public.
X
Sustainability performance, targets and actions regarding our company's activities in the field of sustainability are disclosed accurately, comprehensibly and adequately in Akfen Holding Sustainability and Corporate Social Responsibility Report and Akfen REIT Annual Reports. In addition, Public Disclosure Platform (KAP) disclosures, material event disclosures and general assembly information are regularly presented to our stakeholders in the 'Investor Relations' section of our website.
Ethical and Transparent Business Approach (Pg.113)
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A4. Verification
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A4.1. The Company's Key ESG Performance metrics have been verified by an independent third party and publicly disclosed.
X
Carbon emission value verified
Annexes: Performance Indicators( Pp. 136-141)
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B. ENVIRONMENTAL PRINCIPLES
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B1. The policies and practices, action plans, environmental management systems (known by the ISO 14001 standard) and programs have been disclosed.
X
As Akfen REIT, our environmental management policies and practices are carried out in accordance with international standards, environmental impacts are evaluated at all stages of our operational processes and necessary measures are taken. Our environmental management systems and action plans are disclosed to the public in our sustainability reports and on our company's website.
Sustainability in Compliance (Pg.117)
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B2. The environmental reports prepared to provide information on environmental management have been disclosed to the public which is inculiding the scope, reporting period, reporting date and limitations about the reporting conditions.
X
As Akfen REIT, information on our environmental performance is regularly disclosed to the public in our sustainability reports. The scope, reporting period, reporting date and conditions of our environmental reports are specified together with the relevant restrictions, and this information is shared with our stakeholders in our sustainability reports and on our company website.
Regarding the Report (Pg.96)
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B4. The environmental targets within the scope of performance incentive systems which included in the rewarding criteria have been disclosed to the public on the basis of stakeholders (such as members of the Board of Directors, managers and employees).
X
In 2024, sustainability KPIs were added to the performance criteria of Senior Management and Managers and environmental targets were included in the rewarding system in this direction. In particular, the target of “Adopting the concept of sustainability and reducing the carbon footprint” was added to the performance criteria of Akfen REIT General Manager. This information was disclosed to the public through Akfen REIT Sustainability Report and Annual Report.
Sustainability Management (Pg.106)
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B5. How the prioritised environmental issues have been integrated into business objectives and strategies has been disclosed.
X
Environmental priorities are integrated into business processes within the scope of Sustainability Strategic Goals. Energy, emission and risk management are aligned with business targets, and ESG targets are monitored through Key Performance Indicators (KPIs) up to individual performance. Akfen REIT Sustainability Working Group continues its efforts to ensure this integration.
“Environmental Compatibility Sustainability Goals (Pg.111)”
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B7. The way of how environmental issues has been managed and integrated into business objectives and strategies throughout the Company's value chain, including the operational process, suppliers and customers has been disclosed.
X
“Akfen REIT takes various steps to integrate its suppliers and customers into the sustainability process. In 2024, a Supplier Human Rights Commitment Letter was prepared and added to supply contracts, and sustainability trainings were provided to critical suppliers. In addition, the environmental performance of its tenants in waste, water, energy efficiency and emission reduction is monitored. Customer satisfaction surveys are conducted regularly and customer feedback is integrated into sustainability strategies and actions are taken to improve service quality. This information is disclosed to the public in sustainability reports and on the company website.”
Value Chain Management (Pg.115) Customer Satisfaction (Pg.116)
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B8. Whether the Company have been involved to environmental related organizations and non-governmental organizations' policy making processes and collabrations with these organizations has been disclosed.
X
Akfen REIT collaborates with the public and private sector within the scope of environmental sustainability efforts and carries out projects to raise environmental awareness. These collaborations and environmental policy contributions are disclosed to the public through Akfen REIT Sustainability Report and Annual Report.
Sustainability Goals in Environmental Compliance (Pg.111), Akfen Memorial Forest Project (Pg.122), Düzce Hikmet Akın Middle School Zero Waste and Sustainability Training (Pg.135)
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B9. In the light of environmental indicators (Greenhouse gas emissions (Scope-1 (Direct), Scope-2 (Energy indirect), Scope-3 (Other indirect), air quality, energy management, water and wastewater management, waste management, biodiversity impacts)), information on environmental impacts is periodically disclosed to the public in a comparable manner.
X
It is explained in the appendices of the sustainability report under the heading “Sustainability in Compliance”.
Performance Indicators - Sustainability in Compliance (Pp.136-141)
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B10. Details of the standard, protocol, methodology, and baseline year used to collect and calculate data has been disclosed.
X
Akfen REIT uses ISO 14064-1:2018 standard in environmental data collection and calculation processes. Greenhouse gas emission calculations are made in accordance with the Republic of Turkey Climate Change Action Plan and 2022 has been determined as the base year. This information is disclosed to the public through the sustainability report and annual report.
Emission Management (Pg.119)
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B11. The increase or decrease in Company's environmental indicators as of the reporting year has been comparatively disclosed with previous years.
X
It is explained in the appendices of the sustainability report under the heading “Sustainability in Compliance”.
Performance Indicators - Sustainability in Compliance (Pp.136-141)
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B12. The short and long-term targets for reducing the environmental impacts have been determined and the progress compared to previous years' targets has been disclosed.
X
Sustainability targets and progress towards these targets are shared in the report.
Sustainability Goals in Environmental Compliance (Pg.111)
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B13. A strategy to combat the climate crisis has been created and the planned actions have been publicly disclosed.
X
Akfen REIT has developed strategies to combat climate change and publicly discloses its actions accordingly. Within the Company, a main climate policy has been established within the framework of 'Planet Policies'.
“Risk and Opportunity Management (Pg.101), Sustainability and Climate Change Risks Identification (Pg.103), Energy Management (Pg.118) Emission Management (Pg.119)”
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B14. The programs/procedures to prevent or minimize the potential negative impact of products and/or services on the environment have been established and disclosed.
X
Akfen REIT's energy consumption data are reported within the scope of Scope-1 and Scope-2. Detailed information on natural gas, diesel, gasoline, LPG, electricity and heating-cooling consumption is transparently disclosed to the public in the sustainability report.
Sustainability in Compliance (Pg.117)
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B14. The actions to reduce greenhouse gas emissions of third parties (suppliers, subcontractors, dealers, etc.) have been carried out and disclosed.
X
Akfen REIT monitors the environmental performance of its tenants within the scope of waste, water, energy efficiency and emission reduction in accordance with the contracts it has made with its tenants. In this direction; studies have been carried out to monitor performance data on energy, water, emission and waste management in the enterprises (tenants) within the scope of Akfen REIT's responsibility in 2024.
Strategic Sustainability Goals (Pp.110-111-112)
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B15. The environmental benefits/gains and cost savings of initiatives/projects that aims reducing environmental impacts have been disclosed.
X
At Akfen REIT, different examples of practices continue to contribute to the solution of environmental problems
Akfen Memorial Forest Project (Pg. 122), If There is Sea, There is Life! (Pg. 122)
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B16. The data related to energy consumption (natural gas, diesel, gasoline, LPG, coal, electricity, heating, cooling, etc.) has been disclosed as Scope-1 and Scope-2.
X
It is explained in the appendices of the sustainability report under the heading “Sustainability in Compliance”.
Performance Indicators - Sustainability in Operations - Emission Management (Pp.136-141)
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B17. The information related to production of electricity, heat, steam and cooling as of the reporting year has been disclosed.
X
There is no electricity, heat, etc. produced as of the reporting year.
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B18. The studies related to increase the use of renewable energy and transition to zero/low carbon electricity have been conducted and disclosed.
X
Akfen REIT monitors the environmental performances of its tenants within the scope of waste, water, energy efficiency and emission reduction in accordance with the contracts it has made. In this direction; studies have been carried out to monitor performance data on energy, water, emission and waste management in the enterprises (tenants) within the scope of Akfen REIT's responsibility in 2024.
Performance Indicators -Energy Management (Pg.137) Emission Management (Pg.137-138)
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B19. The renewable energy production and usage data has been publicly disclosed.
X
Akfen REIT monitors the environmental performances of its tenants within the scope of waste, water, energy efficiency and emission reduction in accordance with the contracts it has made. In this direction; studies have been carried out to monitor performance data on energy, water, emission and waste management in the enterprises (tenants) within the scope of Akfen REIT's responsibility in 2024.
Performance Indicators -Energy Management (Pg.137)
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B20. The Company conducted projects about energy efficiency and the amount of reduction on energy consumption and emission achieved through these projects have been disclosed.
X
Akfen REIT has disclosed its energy efficiency projects in its Sustainability Report.
Performance Indicators -Energy Management (Pg.137)
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B21. The water consumption, the amount, procedures and sources of recycled and discharged water from underground or above ground (if any), have been disclosed.
X
Akfen REIT discloses information on water consumption, recovery and utilization procedures in its Sustainability Report
Performance Indicators -Water Management (Pg.136)
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B22. The information related to whether Company's operations or activities are included in any carbon pricing system (Emissions Trading System, Cap & Trade or Carbon Tax).
X
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B23. The information related to accumulated or purchased carbon credits within the reporting period has been disclosed.
X
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B24. If carbon pricing is applied within the Company, the details have been disclosed.
X
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B25. The platforms where the Company discloses its environmental information have been disclosed.
X
Akfen REIT discloses its environmental data to the public through the CDP Carbon Disclosure Project.
https://www.akfengyo.com.tr/download/files/6565281219_12-02-2025-akfen-reit-achieves-the-highest-score-in-the-sme-category-in-cdp-2024-climate-change-and-water-security-reporting.pdf
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C. SOCIAL PRINCIPLES
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C1. Human Rights and Employee Rights
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C1.1. The Institutional Human Rights and Employee Rights Policy has been established in the ligh of the Universal Declaration of Human Rights, ILO Conventions ratified by Turkey and other relevant legislation. The policy and the officals that responsible for the implementation of it have been determined and disclosed.
X
Akfen REIT accepts the responsibilities and obligations of the United Nations Global Compact and fully complies with the legal framework and legislation regulating human rights and working life. Child labor and forced or compulsory labor are not permitted in Akfen REIT. It is ensured that the working environment is egalitarian and human-oriented.
Our Sustainability Policies (P.108)
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C1.2. Considering the effects of supply and value chain, fair workforce, improvement of labor standards, women's employment and inclusion issues (gender, race, religion, language, marital status, ethnic identity, sexual orientation, gender identity, family responsibilities, union activities, political opinion, disability, social and cultural differences, etc., such as non-discrimination) are included in its policy on employee rights.
X
Akfen REIT accepts the responsibilities and obligations of the United Nations Global Compact and fully complies with the legal framework and legislation regulating human rights and working life. Child labor and forced or compulsory labor are not permitted in Akfen REIT. It is ensured that the working environment is egalitarian and human-oriented.
Our Sustainability Policies (P.108)
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C1.3. The measures taken for the minority rights/equality of opportunity or the ones who are sensitive about certain economic, environmental, social factors (low income groups, women, etc.) along the supply chain have been disclosed.
X
Measures and practices taken in line with our human resources policies and strategies are explained in the Sustainability Principles Compliance Report.
Value Chain Management (Pg.115)
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C1.4. The developments regarding preventive and corrective practices against discrimination, inequality, human rights violations, forced and child labor have been disclosed.
X
Akfen REIT accepts the responsibilities and obligations of the United Nations Global Compact and fully complies with the legal framework and legislation regulating human rights and working life. Child labor and forced or compulsory labor are not permitted in Akfen REIT. It is ensured that the working environment is egalitarian and human-oriented.
Ethical and Transparent Business Approach (Pg.113)
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C1.5. Investments in employees (education, development policies), compensation, fringe benefits, right to unionize, work/life balance solutions and talent management are included in the employee rights policy.
X
Akfen REIT accepts the responsibilities and obligations of the United Nations Global Compact and fully complies with the legal framework and legislation regulating human rights and working life. Child labor and forced or compulsory labor are not permitted in Akfen REIT. It is ensured that the working environment is egalitarian and human-oriented.
Our Sustainability Policies (Pg.108) Human Resources Management (Pg.124) Talent Management and Employee Development (Pg. 125) Performance Management System (Pg. 126)’
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C1.5. The mechanism for employee complaints and resolution of disputes have been established and related solution processes have been determined.
X
Akfen REIT accepts the responsibilities and obligations of the United Nations Global Compact and fully complies with the legal framework and legislation regulating human rights and working life. Child labor and forced or compulsory labor are not permitted in Akfen REIT. It is ensured that the working environment is egalitarian and human-oriented.
Ethical and Transparent Business Approach (Pg.113)
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C1.5. The activities carried out within the reporting period which related to ensure employee satisfaction have been disclosed.
X
Akfen REIT disclosed the results of the Employee Satisfaction Survey on employee satisfaction in its Sustainability Report.
Employee Engagement (Pg.128)
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C1.6. The occupational health and safety policies have been established and disclosed.
X
Occupational Health and Safety Policy
Occupational Health and Safety (Pg.129)
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C1.6. The measures taken for protecting health, preventing occupational accidents and related statistics have been disclosed.
X
İş Sağlığı ve Güvenliği (Sf.130)
Occupational Health and Safety (Pg.129)
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C1.7. The personal data protection and data security policies have been established and disclosed.
X
Information Security Policy
Our Sustainability Policies (P.108)
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C1.8. The ethics policy have been established and disclosed.
X
Global Compact Compliance Policy Ethical Business Approach at Akfen REIT
Our Sustainability Policies (P.108) Ethical and Transparent Business Approach (Pg.113)
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C1.9. The studies related to social investment, social responsibility, finansal inclusivity and access to finance have been explained.
X
Community Investments
Social Sustainability (Pg.131) Product Responsibility (Pg.132) Support for Sport (Pg.134) Contribution to the Sector (Pg.133)
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C1.10. The informative meetings and training programs related to ESG policies and practices have been organized for employees.
X
Employee Advancement
Talent Management and Employee Development (Pg. 125)
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C2. Stakeholders, International Standards and Initiatives
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C2.1. The customer satisfaction policy regarding the management and resolution of customer complaints has been prepared and disclosed.
X
At Akfen REIT, the understanding of ‘Customer Satisfaction’ is to continuously improve the experience provided to investors and tenants and to continuously increase the value we offer. In this context, investor satisfaction policy has been published.
Customer Satisfaction (Pg. 116)
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C2.2. The information about the communication with stakeholders (which stakeholder, subject and frequency) have been disclosed.
X
Key Stakeholders and platforms for dialogue with stakeholders
Stakeholder Communication (Pg. 114)
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C2.3. The international reporting standards that adopted in reporting have been explained.
X
Akfen REIT 2024 Sustainability Report complies with GRI Standards.
About the Report (Pg.96)
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C2.4. The principles adopted regarding sustainability,the signatory or member international organizations, committees and principles have been disclosed.
X
Policies at Akfen REIT have been prepared in compliance with UN SDGs and UNGC.
Message from the General Manager (Pg.95)
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C2.5. The improvements have been made and studies have been carried out in order to be included in the Borsa Istanbul sustainability indices and/or international index providers.
X
Akfen REIT is included in the BIST Sustainability Index.
Message from the General Manager (Pg.95)
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D. CORPORATE GOVERNANCE PRINCIPLES
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D1. The opinions of stakeholders have been sought in the determination of measures and strategies related to sustainability field.
X
The prioritisation of sustainability issues of Akfen REIT in 2021 was carried out under the leadership of the Sustainability Working Group, taking into account both the employees and the stakeholders with whom Akfen REIT has established relations. In 2024, work continued on the prioritised issues identified in 2021.
Sustainability Priorities (Pg.109)
oda_SocialResponsibilityProjectsAwarenessActivitiesTrainingsCarriedOutToRaiseAwarenessAboutSustainability|http://www.xbrl.org/2003/role/verboseLabel
D2. The social responsibility projects, awareness activities and trainings have been carried out to raise awareness about sustainability and its importance.
X
Sustainability trainings for Akfen REIT employees and suppliers has given.
Social Sustainability (Pg. 131)