From Corporate Governance to Environmental Responsibility: UNGC-Based Sustainability Analysis of Turkish Banks

The United Nations Global Compact (UNGC) provides essential guidance for banks to adapt to the sustainability process. This research aims to reveal the sustainability performance of seven banks operating in Turkey that are party to the UNGC by analyzing their "Communication on Progress Questionnaire" (COPQ) data for 2024. This research is the first to examine the sustainability activities of commercial banks in Turkey within the scope of the UNGC principles. In this research, the strategies and activities of banks operating in Turkey were evaluated through document analysis in line with the principles of "governance," "human rights and labor," "environment," and "anti-corruption." According to the findings; under the principle of "governance," Türkiye Development and Investment Bank Inc. (82.77%), VakıfBank (83.98%) in the "human rights and labor" principle, VakıfBank (93.94%) in the "environment" principle, and DenizBank A.Ş. (100%) in the "anti-corruption" principle were found to have the highest level of progress. In conclusion, it is observed that Turkish banks have made significant progress in line with the UNGC principles. In this context, it is recommended that banks develop their sustainability strategies more transparently and comprehensively. These findings guide policymakers regarding the banking sector within the scope of sustainability.