Millî Reasürans has released its second sustainability report, presenting in a transparent manner how it identifies and manages climate-related risks and opportunities across its business. Prepared in line with the Turkish Sustainability Reporting Standards (TSRS), the report outlines the company’s sustainability governance model, strategic priorities, risk management approach and targets set for the 2025 financial year.
As one of Turkey’s established reinsurance institutions, the company examined how climate change may affect both its operating structure and broader business model through detailed scenario analyses. The report evaluates physical risks such as extreme weather events, flooding, waterlogging and rising temperatures, while also addressing transition risks linked to regulatory change and the low-carbon transformation of the insurance and reinsurance industry.
A measurable climate target for the next phase
In this year’s reporting cycle, Millî Reasürans introduced a quantified climate-related goal for the first time, marking an important development in its sustainability agenda. The company aims to raise the share of renewable energy within its voluntary underwriting portfolio by 1.5% in 2026 compared with the 2025 base year. This target reflects a concrete step toward stronger climate alignment in support of the Paris Agreement and the broader net-zero emissions vision.
The report also points to emerging opportunities that may arise during the shift to a low-carbon economy. These include sustainable insurance practices, new product development possibilities and services focused on risk prevention, all of which could support long-term sectoral transformation.
Sustainable finance integrated with long-term resilience
Millî Reasürans stated that its sustainability investments are shaped not only by environmental and social impact considerations, but also by the need to preserve financial resilience and maintain effective risk management. Resource allocation is therefore approached through a strategic lens that combines impact creation with long-term institutional objectives.
To strengthen the environmental and social contribution of its portfolio, the company focuses on green financing instruments, sustainable funds and climate-themed investments. Sustainability criteria are incorporated into investment decision processes, and portfolio composition is reviewed regularly. In 2025, consolidated sustainability-linked financial assets reached 11,954 million TL, including equities listed in the BIST Sustainability Index, sustainability-compliant Eurobonds and various green financial instruments.
Governance structure reinforces oversight
The report emphasizes that sustainability governance has been reinforced through internal structures that actively monitor climate-related risks and opportunities. Within the company, the Sustainability Committee and Sustainability Unit play central roles in implementing sustainability strategy and following progress against defined goals, under the oversight of the Board of Directors.
Chaired by General Manager Fikret Utku Özdemir, the Sustainability Committee remains responsible for target-setting, strategy execution and performance monitoring. This governance framework demonstrates that sustainability is embedded into decision-making rather than handled as a standalone initiative.
Environmental indicators and value chain perspective
Millî Reasürans also disclosed its environmental performance data as part of the report. According to the published figures, the consolidated total greenhouse gas emissions of the company and its subsidiaries stood at 1,343.52 tonnes of CO₂e in 2025. Alongside regular tracking of energy use and emissions management, the company continued to support renewable electricity use through I-REC certificates.
The scope of the report extends beyond the company’s direct operations. Subsidiaries, affiliates and the broader value chain were also considered in the assessment of sustainability-related risks and opportunities, reflecting a more comprehensive and integrated reporting approach.
Message from the General Manager
Commenting on the report, Fikret Utku Özdemir said that the publication demonstrates how Millî Reasürans manages climate-linked risks and opportunities, incorporates sustainability into corporate processes and pursues long-term value creation. He noted that, in line with the responsibilities of the reinsurance sector, the company evaluates the effects of climate change through scientific data and scenario analysis.
Özdemir underlined that Millî Reasürans will continue creating value for its stakeholders through transparency, accountability and sustainable growth, while further advancing its climate and sustainability commitments in the years ahead.
