Prof. Cem B. Avci
Professor of Civil Engineering at Bogazici University Istanbul Turkey
Bogazici University Istanbul Turkey
Definition Responsible Investment Banking
Assessing sustainability risks including social and environmental concerns into investment and banking decisions taking into account international and national laws and legislations
Areas of Expertise
Environmental and Social Impact Assessment
Soil and Ground Water Pollution Assessment, Modelling and Remediation
Prof. Avci has conducted research on soil and ground water pollution assessment and remedial design through analytical and numerical methods. His expertise includes aquifer parameter assessment and site investigation methods for soil and groundwater quality assessment. Prof. Avci has participated in a number of impact assessment and quantification research in field of oil and gas, energy and infrastructure projects conducted in Turkey.
Prof. Avci has over twenty years of experience in the consulting field of environmental related projects. His expertise includes environmental and social impact assessment studies, environmental due diligence studies , waste management and contaminated land remediation, soil and ground water quality investigations. Dr. Avci worked several years in the United States on Superfund Projects where he was involved in site investigation and remediation projects.
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, occupational/community health and safety, cultural heritage) have been recognized 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 considered for financing. Although the majority of these are based on international standards that include ES performance criteria of International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB), they do not yet fully encompass the requirements of the international standards in the actual implementation process. The projects considered for financing are typically subject to the Turkish Environmental Impact Assessment (EIA) Regulations that set the commitments 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 systems 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.
Global Compact Turkey
International Environmental Consultant Companies
Hobbies & Social Engagement
Sightseeing and exercise