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Corporate Governance Spotlight: Transparency and Diversity in Tekfen Group's Sustainability Journey

In our weekly Sustainability reports, we aim to traverse various industries across the globe. Today, our focus shifts to another international entity, with its roots deeply embedded in Turkey.

Enter Tekfen Group, a diversified conglomerate with interests spanning Engineering, contracting, agricultural production including seeds and saplings, as well as chemical products such as fertilizers. This diversity poses both a challenge and an opportunity for sustainable reporting, demanding thorough preparation and analysis.

What sets today's exploration apart is our keen interest in understanding the corporate structure. Tekfen's latest report reveals that as of 2022, 27% of its board comprises female members. While gender diversity is a prominent metric, it's equally crucial to examine other facets of board composition, such as the presence of independent members. Tekfen boasts 4 out of 11 independent members, constituting 36% of the board.

Additionally, Tekfen Group boasts several committees, including the Sustainability Committee, Audit Committee, Corporate Governance Committee, Early Detection of Risk Committee, and Remuneration Committee.

What's particularly noteworthy is Tekfen's commitment to transparency. The company not only highlights areas of full compliance but also openly acknowledges areas of non-compliance. In fact, the report provides detailed statistics on adherence to CMB's Corporate Governance Principles, with 85 compliant, 4 partially compliant, and 8 non-compliant principles. This level of transparency is refreshing, especially in an age where concerns about greenwashing loom large. By openly addressing its shortcomings, Tekfen fosters trust in its overall reporting integrity.

We invite you to explore the full report, which offers deeper insights through the provided link.


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