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(English) Few Breezes Of Cigdem Yorgancioglu For Turcas 2023 Activity Report

Kategori : ENERJİ GÜNDEMİ, PETROL ve AKARYAKIT SEKTÖRÜ - Tarih : 19 Mayıs 2024

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Turcas, known for its investments in the Fuel and Energy sectors, announced its 2023 fiscal year The Ordinary General Assembly Meeting was  held at Kalyon Hotel on Wednesday, May 15th. 2024

Turcas Chairman of the Board of Directors Erdal Aksoy, CEO and Board Member Batu Aksoy, Deputy Chairman of the Board of Directors Banu Aksoy, Board Member Timuçin Tecmen, Independent Board Member Emre Derman, new Board member Markus Christian Slevogt senior managers and shareholders attended the meeting. Energy Contracts Expert (Forensic Sciences)  and Senior Editor Columnist ,Economist Cigdem was one of the viewer guest of the meeting and lunch.

At the meeting, the Board of Directors Activity Report for 2023, Independent Audit Report Summary,Financial Statements and the proposal regarding profit distribution for 2023 were also discussed.

At the meeting, it was also approved that Dr. Markus Christian Slevogt was elected as the new Independent Board Member to replace Emre Derman, Independent Board Member of TURCAS, as his term of office will be completed as the maximum term of office permitted by the legislation. Slevogt was a board member of the numerous institutions and corporations. From academic point of view, From 2015 to 2021 he was a board member of the Bahçeşehir Graduate School of Business

Without going into the deepest capillaries, this article is about conveying some of the cherry-picked  issues that are highlighted in this report, such as the environment, climate, clean energy, renewable energy sources, energy efficiency technologies and sustainability from Cigdem Yorgancioglu’s perspective

As a special note to the reader, I should also underline the following

The question of why such selected topics were conveyed by Cigdem Yorgancioglu through Turcas narratives by pulling some points from a single topic may come to mind. The answer to this may be to diversify and exemplify examples from the 2023 Turcas outlook while mentioning Turkey sustainability issues (on Corporation basis) in the succeeding prospective  academic articles.

2023 Activity report of Turcas announced the following issues out of many topics pronounced in the same report;

On page 36, attention is drawn to the stations that receive their energy from the sun.


According to report ,Shell & Turcas contributes to drivers with increased efficiency and performance by constantly improving their products with technological innovations and novelties. Moreover Turcas also takes an active role in the fight against climate change under the scope of efforts to provide cleaner energy solutions. Currently there are numerous projects such as electric charging units, waste management, LNG and solar energy-using stations have been implemented. Currently, 30% of the electricity of 73 stations across the country is provided by solar energy per station annually. Presently, service is provided to electric vehicle users with 70 Shell Recharge branded charging stations at 55 stations throughout Turkey. In addition, the roof of the Derince Mineral Oil and Grease Production Facility(Derince Madeni Yağ ve Gres Üretimi Tesisi )was covered with solar panels and electricity was produced from solar energy. By the virtue of  its 1 MW installed power, it is aimed to prevent approximately 500 tons of carbon emissions per year by meeting approximately 25% of the facility’s total annual electricity need from solar energy. In addition, Shell Lube Oil and Grease Production Facility, situated in Derince and exported to 70 countries, has established the Zero Waste Management System and has been entitled to receive the Zero Waste Certificate approved by the Provincial Directorate of Environment and Urbanization. In this perspective, a significant contribution is made to the company’s sustainability and carbon emission reduction targets by reducing the amount of waste to be sent for disposal by collecting, labeling, recycling or recovering waste throughout the facility separately at the source and raising awareness among employees on this issue. On the other hand, the Shell & Turcas Forest, created on an area of ​​5 hectares on the Istanbul Northern Ring Motorway, aims to neutralize approximately 105 tons of carbon dioxide emitted from more than 1,300 automobiles every year. Planning, accreditation and planting stages were carried out by Shell & Turcas Forest, managed by two distinguished professors in their field, working at Istanbul University Faculty of Forestry; A total of 3,100 trees of 8 varieties were planted: blue cypress, pyramid cypress, stone pine, linden, ash-leaved maple, sycamore-leaved maple, American oak and false acacia. In addition to the Shell & Turcas Forest, it is aimed to neutralize approximately 40 tons of carbon dioxide per year by planting 1,200 trees in a total area of ​​2.2 hectares at 6 locations where Shell stations are located on the Istanbul-Izmir Highway.


Based on the 2023 report and again based on their pronouncement on the report, the basis of Turcas’ business strategy is the “human and environment-centered sustainable growth principle”. Within the framework of this strategy, Turcas • As one of Turkey’s sustainable and high value-creating “Energy Focused Investment Companies”, it invests in companies that offer the highest quality products and services with the highest standards of ethical behavior, qualified human resources and entrepreneurial vision. • With its sectoral experience, international collaborations and corporate governance approach, it aims to invest in companies that meet Turkey’s growing energy needs, evaluate opportunities abroad and diversify its portfolio. • It adopts adding value to the society it lives in as its primary responsibility in all its investments. • It strives to ensure that its services create added value for the country’s economy, are innovative and compatible with the environment. • It sees the principle of Corporate Social Responsibility as the mainstay of sustainable growth. • Adopts a responsible, ethical and transparent management approach. As Turcas, They claim that they  contribute to the success of both Turcas and Turcas’ subsidiary companies with their principle of providing environmentally and socially responsible services through TURCAS investments and subsidiaries, as per their mission. Hence, at Turcas, They attach great prominence to taking ESG (Environment, Social, Governance) issues into contemplation when forming the basis of TURCAS investment and business decisions, and They work to improve their processes on these issues.

TURCAS Sustainability Mission: As an energy-focused investment Company, They work for a sustainable future by adhering to the principles of environmental, social and economic sustainability, pursuing investment opportunities in low-carbon energy systems and environmentally sustainable energy production, supporting innovations in the energy sector and creating value for their stakeholders. They  aim to harmonize their business activities with society and nature, support economic development and minimize their environmental impacts.

Turcas’s  Sustainability Vision:

According to report, for a low-carbon future by supporting renewable energy sources, energy efficiency technologies and energy storage solutions, with the aim of becoming a leading investment Company to accelerate the transition to a sustainable energy system, combat the negativities caused by climate change, and create positive effects on the environment, society and economy. They aim to play a leading role. Turcas Petrol’s 1st Sustainability Report for 2022 was published in 2023.

Environmental Dimensions and Environmental Impact Assessment:

Turcas Petrol makes environmental protection investments in order to protect the environment and prevent environmental pollution. According to report, Emergency and Environmental Risk Management is kept at the most advanced level. In order to ensure the management of environmental risks, priority environmental dimensions are determined and environmental impact assessment studies are carried out according to the Environmental Dimension Determination and Environmental Impact Assessment Procedure. The environmental impacts of each dimension are determined by evaluating the materiality criteria in normal, abnormal and emergency operating conditions. These effects are regularly monitored by the Quality, Environment and OHS Unit and controlled by environmental protection investments.

Zero Waste

Within the framework of the Zero Waste Regulation published by the Ministry of Environment, Urbanization and Climate Change of the Republic of Turkey in 2019, zero waste system installations were carried out at Turcas Petrol Headquarters. In 2022, the consumption of plastic water bottles ended and the water dispensers, which were located on the floors and whose use was suspended due to the pandemic, were reused in 2023 in order to prevent the use of plastic bottles. In this way, plastic waste has been completely eliminated in 2023. All electronic wastes generated within the company are delivered to (Türk Bosna Hersek İş Adamları Derneği) TÜBİSAD. The income obtained from the recycling of the valuable materials contained in these wastes is transferred to TEGV (TEGV – Education Volunteers Foundation of Türkiye-Türkiye Eğitim Gönüllüleri Vakfı ) as a donation and contributes to the education of children. In this way, while protecting nature, education is also supported.

Waste Management:

As a requirement of Turcas Petroleum’s Environmental Policy, it is aimed to reduce waste at its source, while at the same time it is aimed to be used as a new resource through reuse and recovery methods. Hazardous and non-hazardous waste areas have been created to comply with the requirements specified in the Waste Management Regulation. The amount of waste information is regularly monitored by the waste manager. In 2023, all recyclable wastes were brought back into production, and non-recyclable wastes were sent to facilities with the necessary facilities with the necessary documents and permits for final disposal.

Starting from page 56 to page 63, there is the SUSTAINABILITY PRINCIPLES COMPLIANCE FRAMEWORK table. In the left part of the table, the objectives and criteria are depicted, and in the right part, the extent to which TURCAS has complied with these issues is depicted.

Turcas included the following statements in its statements specific to Strategy, Policy and Targets under the title of FRAMEWORK FOR COMPLIANCE WITH SUSTAINABILITY PRINCIPLES. There are policies approved by the company’s senior management and the CEO regarding Quality, Environment, OHS and Corporate Governance. Internal procedures, instructions and processes regarding these policies are structured and announced to all employees. It is stated that it is possible to access the relevant information on the company website.

Considering the criterion that the company’s ESG policies (e.g. Environmental Policy, Energy Policy, Human Rights and Employee Policy, etc.) have been created by the Partnership’s board of directors and disclosed to the public, its explanation is as follows. There are policies approved by the company’s senior management and the CEO regarding Quality, Environment, OHS and Corporate Governance. Internal procedures, instructions and processes regarding these policies are structured and announced to all employees. Relevant information can be accessed via the company website. 1.2. When we look at the target alignment no., the short and long-term targets determined within the scope of ESG policies have been disclosed to the public. The following statements are included in the statement. As TURCAS, targets are determined in the Partnership Strategy and related issues in accordance with ESG policies.

Sustainability Sub-Committee

The execution of Environmental, Social and Governance policies is the ultimate responsibility of the Board of Directors and is handled by the Sustainability Sub-Committee. This Sub-Committee reports regularly to the Corporate Governance Committee. Studies regarding Corporate Governance are carried out through the Corporate Governance Committee. The Corporate Governance Committee regularly reports to the Board of Directors regarding its activities. All studies were disclosed to the public in the 2022 Sustainability Report. There is no information about when or in which month the 2023 Sustainability report will be ready. (I hope it has not been overlooked.) It is stated that the Corporate Governance Committee regularly reports to the Board of Directors regarding its activities in the field of sustainability.

Implementation and action plans have been created in line with the ESG targets in Article 2.2 and have been disclosed to the public.TURCAS Priority Sustainability issues have been determined. Implementation and action plans created in line with these goals and issues have not yet been disclosed to the public.

Based on the report; Key Performance Indicators (KPIs) will be determined on the basis of each Priority Issue after the publication of the 2022 Sustainability Report and will be shared with the public along with the relevant measurements in the next Sustainability Report. Turcas made a statement referring to the future. This section is in article 2.3. stated)

Who is Cigdem Yorgancioglu?

Energy Contracts Expert, Forensic Sciences Expert, Enerji Gazetesi, and UPA  Researcher columnist Çiğdem Yorgancioğlu, whose articles on energy issues are referred to academic research and published in peer-reviewed journals, is a graduate of Boğaziçi (Bosphorus) University, Faculty of Administrative Sciences, Business Administration and Economics. She is currently studying at Istanbul University, Department of Political Science and International Relations, and She has worked as a manager and expert in many companies on different subjects (Foreign Trade, IT – Telecommunication, Energy, etc.) at much respected Companies both in Turkey and the World.  She represented Turkey abroad at various Universities, presenting academic articles and presentations. She is lecturing CLC 360 and MIM CHI 360 Trainings on Carbon Footprint Reduction, Sustainability and Clean Energy. She conducts research on policies and publishes articles on Energy in the Eastern Mediterranean and the Mavi Vatan doctrine. You can also listen to the trainings on the Maritime Sector Marine Pollution Prevention Conventions (MARPOL etc.) and the scenarios she developed in the radio program where the Maritime Sector Global risks are discussed and Çiğdem Yorgancığlu was the guest.of program ( ( Let’s Talk About This program prepared and presented by Çetin Ünsalan was attended by Risk Expert, Economist and Trainer H. Çiğdem Yorgancıoğlu was the guest. ) Yorgancıoğlu, who also moderates panels and fairs on energy, is the senior editorial columnist of  Energy Newspaper and UPA writer

Who is New Independent Board Member of TURCAS  – Dr. Markus C. Slevogt

Dr. Markus C. Slevogt is a board member of the Turkish family company Erciyas Çelik Boru A.Ş. (manufacturing, energy, services) and independent board member in AkçanSA, a stock exchange-listed joint venture between HeidelbergCement and Sabancı Holding. He is also a board member of the consulting firm Amarkon Group and acting president of the German-Turkish Chamber of Commerce and Industry (AHK). Dr. Slevogt lives in Istanbul.

Dr. Slevogt has relations with Bahçeşehir University, where he is a member of the Faculty of Economics, Administrative and Social Sciences and director of the Finance Research Center. From 2015 to 2021 he was a board member of the Bahçeşehir Graduate School of Business.Dr. Slevogt is also a member of the Turkish industrial association TÜSİAD, where he held the position of Vice President TÜSİAD International for several years.

Dr. Slevogt came to Turkey in 1999 as a representative of Deutsche Bank AG and then headed the wealth management business of ING Bank Turkey as Managing Director. Since 2012, Dr. Slevogt held various board memberships, including the Turkish subsidiaries of the Vaillant Group and BSH Bosch Siemens Hausgeräte.

Dr. Slevogt holds a business diploma from the University of Kent at Canterbury (UK), a Postgraduate Diploma in Advanced Management from ESMT – European School of Management and Technology, and a Masters and PhD degree from the Faculty of Business Administration at Philipps University in Marburg. (based on short biodata provided by

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