Isil Gultekin

 

 

 

 

 

Dr. Isil Gultekin

Contact
isilg@elcgroup.com.tr
Phone: +90 533 265 39 63
Fax: +90 216 465 91 30

Profession/Affiliation
Principal Environmental Consultant – ESIA/ESDD Practice Leader
ELC Group, a company of Royal HaskoningDHV

Definition of Responsible Investment Banking
Integrating environmental and social factors including stakeholder concerns into the decision making process

Areas of Expertise
Environmental and social impact assessment
Environmental and social due diligence

Curriculum Vitae
Employment Record
February 2009 – current Principal Consultant, ELC Group Inc., Istanbul, Turkey
October 2005 – February 2009 Research Assistant, Bogazici University, Institute of Environmental Sciences, Istanbul, Turkey
October 2004-October 2005 Visiting Researcher-DAAD scholar, University of Saarland, Institute of Environmentally Compatible Process Technology, Saarbruecken, Germany
June 2002 – October 2004 Research Assistant, Bogazici University, Institute of Environmental Sciences, Istanbul, Turkey

Education:
2008 Ph.D. in Environmental Technology, Bogazici University, Institute of Environmental Sciences, Istanbul, Turkey
2002 M.Sc. in Environmental Technology, Bogazici University, Institute of Environmental Sciences, Istanbul, Turkey
2000 B.Sc. in Environmental Engineering, Yildiz Technical University, Istanbul, Turkey

Abstract
Turkish Financial Institutions (FIs) have come to recently realize that non-financial factors can materially affect an institution’s long-term performance. Environmental and social issues (i.e. pollution, resource depletion, wastes, biodiversity, land acquisition and resettlement, labour and working conditions, occupation-al/community health and safety, cultural heritage) have been recog-nized to pose risks to the Turkish FIs through their project finance operations. This awareness developed in parallel to the concept of sustainability being embraced by Turkey’s corporate sector. Several large Turkish lending institutions have developed environmental and social (ES) management systems for evaluation of the projects con-sidered for financing. Although the majority of these are based on international standards that include ES performance criteria of Inter-national Finance Corporation (IFC), European Bank for Reconstruc-tion and Development (EBRD) and European Investment Bank (EIB), they do not yet fully encompass the requirements of the inter-national standards in the actual implementation process. The projects considered for financing are typically subject to the Turkish Envi-ronmental Impact Assessment (EIA) Regulations that set the com-mitments for the project owner for environmental protection based on the Turkish regulatory framework. Compared to the international standards, there are gaps in the Turkish EIA studies that include a lack of a structured impact assessment, insufficient baseline studies and limited community engagement programmes. These gaps may eventually pose legal risks to the project during development and operations and also to the lending institution in terms of financial and reputational risks. Although several institutions have developed ES management systems internally, experience shows that these sys-tems initially focus on following the Turkish EIA process without fully assessing issues such as biodiversity, cultural heritage and social impact assessments including expropriation and resettlement issues. This chapter will provide an overview of ES procedures of large lending institutions in Turkey; discuss generic data gaps between Turkish EIA studies and international requirements as well as the evaluations of ES risk management systems in place. Discussions include main risks and opportunities in applying international standards in investment finance in Turkey as well as identifying future trends.

Network
Global environmental and social consultants

Hobbies & Social Engagement
Playing tennis, walking, puzzles