GOVERNANCE
STAKEHOLDER ENGAGEMENT
STAKEHOLDER ENGAGEMENT
In line with its sustainability strategy, Galata Wind makes decisions that benefit the company and all its stakeholders, and evaluates the stakeholders’ feedback, and implements activities to improve its performance. Galata Wind's stakeholder engagement strategy is built on a structure that maintains the "Ask, Learn, Answer" cycle, is open to continuous learning, monitors areas of development, and integrates into the decision-making processes, the preliminary assessments of stakeholders affected by the decisions made.
Galata Wind's key stakeholders were identified in 2022 using the methodology proposed by the AA1000SES standard.
Our company manages and organizes dialogue platforms with key stakeholders across many channels. The structure of the dialogue platforms is assessed and reviewed for efficiency, and more effective means of engagement are regularly evaluated. The principle of “transparency” underlying our sustainability strategy is applies to all our stakeholders and we continue to work on improving our responsiveness level.
STAKEHOLDER ENGAGEMENT PLATFORMS
| Employees | |
| Why do we engage? | At Galata Wind, we view our employees not only as our key stakeholders but also as team members who walk alongside us on the journey towards becoming a sustainable Company and as major contributors to this goal. Their insights, skills, and dedication are crucial for developing innovative solutions and achieving operational excellence. Throughout the year, we maintain ongoing dialogue platforms to seek our employees' opinions, concerns, and expectations. Through various channels, our employees not only provide feedback but also help identify potential risks and opportunities, ensuring that our sustainability strategies are robust and incorporate diverse perspectives. |
| How and how frequently do we engage? | Human Resources Practices (regularly throughout the year); Surveys (conducted regularly on different topics); Events and Meetings (numerous throughout the year); Social Media Channels (regularly), Internal Communication Meetings (regularly), Volunteering Programs (several times a year); Emails and Updates (frequently); Occupational Health and Safety Meetings (regularly); Training and Development Programs (regularly); Plant Visits (regularly) |
| On which topics do we engage in feedback-oriented dialogue? | Annual performance reviews; Corporate strategies, policies, and market forecasts; Economic, social, and environmental risks and opportunities; |
| Metrics | Focus topics identified according to the material issues of the Company and disclosed through the sustainability reports |
| Relevant policies and procedures | General Assembly Meetings; Investor Presentations; Roadshows; Online Meetings; Analyst Presentations; Meetings with Shareholders |
| Shareholders and Investors | |
| Why do we engage? | At Galata Wind, we place great importance on our relationships with investors and shareholders, reflecting our transparency and growth-oriented strategy. By utilizing regular and open communication channels, we ensure that our investors and shareholders are informed about our activities, financial performance, and, most importantly, our efforts in the field of sustainability. Investors and shareholders possess a wealth of knowledge and perspectives that can significantly enhance our strategic plans and objectives. Therefore, their insights on market conditions, risks, and opportunities provide invaluable guidance that helps us refine our strategies, optimize our operations, and strengthen our competitive position in the renewable energy sector. |
| How and how frequently do we engage? | General Assembly Meetings (once a year), Information Presentations (four times a year), Investor Meetings (frequently in large numbers), Analyst Presentations (four times a year), Emails (regularly), Newsletters (regularly), Annual Reports (four times a year), social media channels (regularly), and Public Disclosure Platform (regularly) |
| On which topics do we engage in feedback-oriented dialogue? | The Company's annual performance The Company's corporate strategies, policies, and market forecasts Economic, social, and environmental risks and opportunities Topics reported through the sustainability report in line with the Company's material issues |
| Metrics | General Assembly Meetings Investor Presentations Roadshows Online Meetings Analyst Presentations Meetings with Shareholders |
| Relevant policies and procedures | Corporate Governance Compliance Rating Sustainability Ratings Conflict of Interest Policies Disclosure Policy |
| Opinion Leaders | |
| Why do we engage? | For Galata Wind, engaging in dialogue with opinion leaders is a strategic approach aimed at enhancing our sustainability action plans and broadening the impact of our initiatives. Opinion leaders such as environmental and energy experts, industry opinion leaders, academics, and leaders of non-governmental organizations, as well as individuals influential in public opinion regarding our field of activity, play a crucial role in shaping public perception and advancing the discourse on renewable energy and sustainability. The reason we base our relationships with opinion leaders on mutual dialogue is to ensure that our sustainability efforts reach more individuals and organizations. Thus, we aim to raise much more awareness and support for renewable energy. |
| How and how frequently do we engage? | Collaboration Platforms (regularly); Roundtable Meetings, Seminars, Conferences, Podcasts, Fairs and Congresses, Panels (regularly); Consultancies (several times a year) |
| On which topics do we engage in feedback-oriented dialogue? | Market dynamics; Investment opportunities; Sustainability-related issues, Leadership; Sustainable development; Environment and the ecosystem; Biodiversity; Climate change; New technologies and innovation; Risks and opportunities; Public policies |
| Metrics | Number of seminars panels, and conferences attended by the Company and/or its executives throughout the year; Survey results |
| Relevant policies and procedures | Human Rights Policies; Environmental Policies; Biodiversity Policies; Human Rights Policies |
| Suppliers | |
| Why do we engage? | Our suppliers assume a crucial role in the sustainability of our operations and the continuity of our business. By working together, we ensure that our sustainability standards are maintained throughout the supply chain. Meeting with our suppliers on dialogue platforms, which we have developed to discuss improving our ways of doing business, including promoting environmentally friendly practices and ethical work standards, and producing solutions together enables us to work in collaboration with our business partners, and ensures the sustainability of our entire value chain. |
| How and how frequently do we engage? | A few times a year, regularly and with frequent intervals |
| On which topics do we engage in feedback-oriented dialogue? | In all our operational processes; on regular maintenance and repair concerns; data collection procedures, audit results |
| Metrics | Total purchasing amount; Total local purchasing amount; Total number of suppliers; Total number of local suppliers; The ratio of local suppliers to the total number of suppliers; Number of supplier audits; Total audit rate among suppliers |
| Relevant policies and procedures | Procurement Policy; Supply Chain Management procedures and principles; Stakeholder Engagement Policy and management approach |
| Customers | |
| Why do we engage? | For Galata Wind, which is obligated to supply the electricity it produces directly to the grid, electricity distribution companies are seen not only as customers but also as significant players in the energy industry. Being in communication with these organizations ensures that Galata Wind's activities are fully compliant with current regulations and prepared for future changes. Through this proactive approach, Galata Wind ensures full compliance with regulatory laws and regulations, minimizes related risks, and provides a smoother distribution, delivering the electricity produced to the end user in the most efficient manner. |
| How and how frequently do we engage? | Regular updates; Communication through social media channels and the website; Informational meetings; Emails; Feedback mechanisms |
| On which topics do we engage in feedback-oriented dialogue? | Galata Wind positions itself as an actor that meets these organizations' expectations in policies supporting the growth and sustainability of the renewable energy industry. By establishing open communication, we provide informed insights and data to assist government institutions in developing beneficial policies for both the environment and the energy market. We frequently create dialogue platforms on market developments and technical regulations. |
| Metrics | Total amount of renewable energy produced; Targeted production quantities |
| Relevant policies and procedures | Responsible Marketing Policy and principles; Information Security Policies |
| Public Institutions and Organizations | |
| Why do we engage? | Already maintaining close relationships with public institutions and organization in efforts to increase the reliability of energy supply, Galata Wind, concurrently, comes together with these entities on various platforms and establishes collaborations to enhance grid performance, integrate producers into the system, and ensure that renewable energy effectively meets the country's energy needs without compromising grid stability. Public institutions often set various targets to meet national and international sustainability and climate goals. Thus, by cooperating with these institutions, Galata Wind aligns its activities with these goals and supports government’s efforts to reduce carbon emissions and transition to renewable energy sources. |
| How and how frequently do we engage? | Various roundtable meetings; Regular feedback mechanisms |
| On which topics do we engage in feedback-oriented dialogue? | Legal regulations and public policy development processes; Infrastructure and grid investments; Financial initiatives; Climate change-related goals; Emergency and disaster management topics; Market dynamics and energy supply planning |
| Metrics | Number of meetings and compliance processes |
| Relevant policies and procedures | Compliance Policies; Policies and Principles on Ethics |
| International Organizations | |
| Why do we engage? | Galata Wind engages in dialogue with international organizations to grow through loans or equity investments, secure the capital needed for its new investments, develop new projects, and improve existing infrastructure. The Company's strong credit rating, indicative of financial health and stability, enhances its appeal to investors. Additionally, its capability in utilizing resources with lower borrowing costs and better financing conditions, makes it easier for Galata Wind to access global capital markets. Collaborating with international energy organizations ensures the operations to align with global best practices and standards. This alignment is crucial not only for operational excellence but also for compliance with environmental, social, and governance (ESG) criteria, which are becoming increasingly important to global investors and standard-setting institutions. |
| How and how frequently do we engage? | Several times a year: rating assessments; collaborations; information and feedback evaluation through social media channels; information and audit processes in credit studies and credit processes (at regular intervals). |
| On which topics do we engage in feedback-oriented dialogue? | Credit Facility; Rating; Collaboration platforms; Stakeholder engagement-focused programs. |
| Metrics | Environmental investment amounts; Incentive loans; Green bond amounts; Rating scores. |
| Relevant policies and procedures | Stakeholder Engagement Strategy; climate change impact area and related policies and procedures |
| Industrial Organizations | |
| Why do we engage? | The primary purpose of establishing dialogue-focused engagement with industry organizations is to more deeply integrate Galata Wind into the renewable energy industry's sustainability efforts. By doing so, we aim not only to enhance our own sustainability practices but also to contribute to the overall advancement of the industry's environmental and social goals. Through strategic relationships with industry organizations, Galata Wind increases its contribution to sustainable development. This engagement strategy is essential for maintaining compliance with international standards, promoting innovation, improving operational practices, and advocating for supportive policies. |
| How and how frequently do we engage? | Regular meetings; Regular social media communication; Collaboration programs and memberships |
| On which topics do we engage in feedback-oriented dialogue? | Market developments; Sustainability goals; Innovative production technologies; Changes in laws and regulations; Compliance with international standards; Supply chain management; Crises and resilience; Disaster management |
| Metrics | Data on collaboration platforms; List of memberships |
| Relevant policies and procedures | Stakeholder engagement strategy and related policies and procedures |
| NGOs | |
| Why do we engage? | As part of its comprehensive stakeholder engagement strategy, Galata Wind actively collaborates with non-governmental organizations (NGOs). NGOs play a significant role in civil society and often represent community initiatives related to environmental protection, social justice, and community development. Collaborating with these organizations aligns with our commitment to sustainable practices and enhances our contributions to broader social goals. |
| How and how frequently do we engage? | Regular and/or as-needed partnerships in programs; Collaborations; Project support; Participation in panels and conferences |
| On which topics do we engage in feedback-oriented dialogue? | Inquiring stakeholder expectations; Receiving support from areas of expertise; Collaborations in programs; Climate change; Volunteering programs; Community contribution programs; Donations |
| Metrics | Total amount invested in community engagement affairs; Donations and grants; Project costs; Social impact analyses |
| Relevant policies and procedures | Stakeholder Engagement Strategies and Policies; Policy on Donations and Grants; Sponsorship Policies |
| Community | |
| Why do we engage? | Building a strong relationship with the local community helps Galata Wind gain and maintain social approval. Trust and mutual respect form the foundation for securing the community's acceptance and support in social engagement programs. Engaging with the community allows us to understand their needs, concerns, and expectations. This understanding is crucial for planning social programs that provide tangible benefits and effectively address community issues, thereby enhancing community well-being. |
| How and how frequently do we engage? | Campaigns held regularly and/or as-needed; Expectation analyses; Reputation surveys; Regular consultation meetings with local authorities |
| On which topics do we engage in feedback-oriented dialogue? | Impact management; Climate change; Social issues; Social welfare; any topics where stakeholder expectations need to be queried; EIA processes |
| Metrics | Social impact area analysis; EIA Report metrics; Data from social campaigns |
| Relevant policies and procedures | Community Engagement Policies; Volunteering Policies and Procedures |
