Yaşar 2015 Sustainability Report - Yaşar Holding

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Yaşar 2015 Sustainability Report - Yaşar Holding
Yaşar 2015

 Sustainability Report

Yaşar 2015 Sustainability Report - Yaşar Holding
                                                          02 Chairperson’s Message
                                                          03 Chief Executive Officer’s Message
“People should work for contributing to their             04 About The Report
                                                          05 Material Sustainability Topics

countries and to the development. It’s the life to me!”
                                                          08 About Yaşar Group
                                                          08     Yaşar Group At a Glance
                                                          09     Our Mission and Corporate Values
                                                          10     Corporate Profile
                                                          12     Important Developments In 2015
                                                          13     Recognitions
Selçuk YAŞAR                                                   Caring for Business                                    Caring for Employees
                                                          16     Economic Performance                            56     Profile of Employees
                                                          18     Sustainability Management                       63     Employee Rights
                                                          20     Corporate Reputation Management                 63 		 Equal Opportunity and Non-Discrimination
                                                          20     Stakeholder Dialogue                            63 		 Appropriate Working Conditions
                                                          21 		 Methods of Communication with Stakeholders       65 		 Rights Offered to The Employees
                                                          22 		 Memberships                                      66     Employee Development
                                                          24     Ethics and Compliance                           66 		 Training and Development Activities
                                                          24 		 Corporate Management                             67 		 Performance Management System
                                                          26 		 Business Ethics                                  68 		 Carrier Management System
                                                          26 		 Anti-Corruption Practices                        68 		 Leadership Development Programs
                                                          27     Risk Management                                 69     Occupational Health and Safety (OHS)
                                                               Caring for Society                                69 		 OHS Boards
                                                          30     Consumer/Customer Health and Safety             70 		 Work Accidents and Lost Days
                                                          31 		 Increasing Access to Healthy Food                     Caring for Business Partners
                                                          32 		 Customer and Consumer Informing and Ethical 		   74     Supply Chain Management
                                                               		 Marketing                                           Caring for Environment
                                                          32 		 Customer and Consumer Satisfaction               82     Environment Management
                                                          34     Quality, Innovation and R&D                     83     Water Management
                                                          34 		 Quality Management                               85     Energy and Climate Change
                                                          36 		 Management Systems                               86     Waste Management
                                                          38 		 Innovation and R&D Studies                       92 GRI G4 Content Index
                                                          40     Sustainable Agriculture and Stock Breeding      96 UNGC Principles
                                                          40 		 Producer Support Programs
                                                          42 		 Animal Welfare
                                                          44     Contribution To Local Economy
                                                          45 		 Promotion of Turkey Trademark
                                                          46     Community Investment
                                                          46 		 Yaşar Education and Culture Foundation
                                                          47 		 Pınar Institute
                                                          52 		 Sponsorships
                                                          53 		 Yaşar University

                                                                                                                                             Yaşar 2015 Sustainability Report 1
Yaşar 2015 Sustainability Report - Yaşar Holding
Chairperson’s Message

                                                                                                                                                                                                                                                     Chief Executive Officer’s Message
                                                             Sustainability Is a Journey                               We Care for Every Ring of Our Value Chain

                                                               Parallel with the rapid change in our world, our        The business world is being                 reduction target for 2020 and have
                                                               economic, environmental and social settings             subject to a radical change and             developed carbon reduction strategies.
                                                               are changing rapidly. Therefore, I know and see         transformation due to the game-             Furthermore we announce average
                                                               that it is not possible to be competitive unless        changing developments, which can be         carbon emission rate of the companies
                                                               sustainability is made a part of the business           summarized as digitalization, Industry      of Yaşar Group every year. Again
                                                               systems and decision making processes.                  4.0, internet of objects.                   with this awareness, we have started
                                                                                                                                                                   water footprint calculations in 4 of our
                                                               We always emphasized two points in our                  The on-going change and
                                                                                                                                                                   facilities. We recently included Şanlıurfa
                                                               sustainability reports, which we prepared               transformation affects not only the
                                                                                                                                                                   factory into the water footprint
                                                               and shared in a more comprehensive way in               business world, but also the individual
                                                                                                                                                                   calculations this year. Furthermore, we
                                                               comparison with the previous years, since               life of each of us. Furthermore, it
                                                                                                                                                                   prepared our water risk reports.
                                                               2009. The first point we have stressed is that          brings opportunities that are useful in
                                                               sustainability is a journey. This journey can reach     better understanding our world and our      Believing the importance of
                                                               the targeted results when it is made in                 stakeholders.                               transparency in sustainability, Pınar has
                                                               co-operation with our stakeholders. The second                                                      been the first dairy products producer
                                                                                                                       At this point, the United Nations
                                                               is making sustainability a part of our business                                                     participating in both CDP (Carbon
                                                                                                                       defined the sustainable development
                                                               processes. Sustainability has to be adopted from                                                    Disclosure Project) and CDP Water
                                                                                                                       concept with a brand new approach
                                                               the room of board of directors to the photocopy                                                     Program, with these efforts attention
                                                                                                                       and the targets were determined under
                                                               rooms and the entire value chain has to be                                                          is drawn to the reduction of risks for a
                                                                                                                       17 headings. The new approach and
                                                               managed with this understanding.                                                                    sustainable world.
                                                                                                                       the targets provided important hints
                                                               The awareness of sustainability has been raised         to the business world to revise its         Since the importance of social peace,
                                                               through workshops and training programs we              strategies.                                 co-operation and mutualization is
                                                               have held in our value chain. The expectations of                                                   understood better in the world we
                                                                                                                       As the companies of Yaşar Group,
                                                               our stakeholders from us have been understood                                                       established the “Yaşar Volunteers
                                                                                                                       which closely follow up on the
                                                               in a better way via face to face or on-line surveys                                                 Platform” in order to support the
                                                                                                                       international developments, we drew
                                                               conducted among our stakeholders. Hence, we                                                         voluntary efforts and our own
                                                                                                                       our new roadmap within the frame of
                                                               were able to include our shareholders in our                                                        volunteers. Upon the completion of our
                                                                                                                       our Sustainable Development Policy
                                                               sustainability journey.                                                                             volunteers’ training we gave a start for
                                                                                                                       without compromising our ethical,
                                                                                                                                                                   the projects which are compliant with
                                                               We revised our action plans by reviewing our            accountable and honest business
                                                                                                                                                                   our corporate values. Our main purpose
                                                               sustainability strategy. Our regulations, recruitment   understanding, which we have
                                                                                                                                                                   is to benefit from the impact created
                                                               processes and all other relevant documents were         sustained since our foundation.
                                                                                                                                                                   by Yaşar companies “for a better life”
                                                               reviewed with a sustainability focus. We decided
                                                                                                                       The companies of Yaşar Group are            to meet the social needs. Our studies
                                                               to start the Sustainability Competition in order
                                                                                                                       sharing the value they created “for a       carry on aiming to form a project
                                                               to increase the number of our good practice
                                                                                                                       better life” by “caring for” each ring of   which utilizes our employees’ voluntary
                                                                                                                       the value chain.                            contribution in the form of time and
                                                               While our efforts for struggle against climate                                                      labor in such a way that this time and
                                                                                                                       We are well aware of our responsibility
                                                               change in terms of environment sustainability are                                                   labor can have even more profound
                                                                                                                       towards our business, the society,
                                                               continuing, our priority is effective resource use,                                                 effects on the society.
                                                                                                                       our consumers, our employees,
                                                               especially in terms of water. Empowering women
                                                                                                                       our environment, customers and              We give special importance to our
                                                               is in our focus whilst creating a fair and safe work
                                                                                                                       business partners within the scope of       projects, which help to improve the
                                                               environment providing equal opportunities.
                                                                                                                       sustainability.                             skills and knowledge of our women
                                                               While sharing the value that we created “for a                                                      employees to empower women.
                                                                                                                       We know that our responsibility is far
                                                               better life” as Yasar Group companies with all our
                                                                                                                       beyond legal compliance. With this          We are very pleased to present Yaşar
                                                               stakeholders in the value chain, we will continue
                                                                                                                       awareness, we voluntarily signed UN         2015 Sustainability Report prepared
                                                               providing our safe and high quality products to our
                                                                                                                       Global Compact in 2007. With this           in compliance with GRI G4 reporting
                                                               consumers as we have done since our foundation
                                                                                                                       awareness, we calculate the carbon          standard to our stakeholders.
                                                               with sustainable business models.
                                                                                                                       footprints of our 10 companies every
                                                                                                                                                                                             Mehmet Aktaş
                                                                                             Mustafa Selim Yaşar       year without any legal obligation.
                                                                                                                                                                                     Chief Executive Officer
                                                                                  Chairperson of Board of Directors    We have declared carbon emission

                        2 Yaşar 2015 Sustainability Report                                                                                                                                                      Yaşar 2015 Sustainability Report 3
Yaşar 2015 Sustainability Report - Yaşar Holding
About The Report

                                                                                                                                                                                                                                                                                           Material Sustainability Topics
                   About The Report                                                                                                                 Material Sustainability Topics
                   G4-17, G4-18, G4-27                                                                                                              G4-18, G4-19, G4-20, G4-21, G4-23, G4-24, G4-25, G4-26, G4-27

                   Yaşar 2015 Sustainability Report covers our approach towards     Compilation and preparation of data related with our report     In 2015 it was decided to update the existing sustainability priorities of Yaşar Group with a more systematic point of view and a
                   material topics that are of importance both for the future       was performed under the management of Corporate Affairs         comprehensive materiality assesment was performed in line with this purpose.
                   targets of our Group and for our stakeholders as well as our     Coordinatorship Department and Extended Sustainable
                                                                                                                                                    While determining the material sustainability topics of Yaşar Group, both strategic sustainability priorities and the matters, which
                   studies and performance in 2015.                                 Development Committee, with the contributions of the
                                                                                                                                                    the stakeholders of Yaşar Group companies consider to be material, were taken into consideration.
                                                                                    relevant units of the companies, acting within Yaşar Group
                   Yaşar Group, which issued the Communication on Progress
                                                                                    and included in the report scope. The report is not subjected   Yaşar Group Materiality Assesment Stages
                   Reports in 2009 and 2010 and thereafter, “Yaşar 2011”
                                                                                    to external audit. Mikado Sustainable Development Consulting
                   “Yaşar 2012”, “Yaşar 2013” and “Yaşar 2014” Sustainability
                                                                                    supported the preparation of the report.
                   Reports, performs its reporting works within the frame of
                   UNGC principles and Global Reporting Initiative-GRI criteria.    The works carried out under the leadership of our                                                              1. Determination of the Relevant
                   Yaşar 2015 Sustainability Report has been prepared using the     Chairperson of Board of Directors, involved the following;                                                            Sustainability Topics
                   GRI G4 Guidelines-Core option. The Report also uses GRI G4
                                                                                    • Extended Sustainable Development Committee,
                   Food Processing Sector Disclosures. With this Report, we also
                   declare our commitment to the UNGC Principles.                   • Sustainability Reporting Team Members,

                   Yaşar 2015 Sustainability Report includes the activities and                                                                       2. Determination of Sustainability Topics That Have                       3. Determination of Sustainability Topics
                                                                                    • Carbon and Water Leaders,
                   projects performed in the country by 10 domestic companies,                                                                                  Strategic Priority for Yaşar Group                                That are Material for the Stakeholders

                   which are listed under the title Corporate Profile, between      • Carbon and Water Footprint Teams.
                   the dates 01.01.2015-31.12.2015. The companies included in
                                                                                    The process related with the determination of material
                   our Group, but based in abroad are not included in the report
                                                                                    topics included in our report is shared under the heading
                   scope. 75% partnership share of Dyo Printing Inks, which is                                                                                                                      4. Consolidation of Results and
                                                                                    “Sustainability Priorities”.
                   among the subsidiaries of Yaşar Holding, was sold to Toyo                                                                                                                       Preparation of Materiality Matrix
                   Ink SC Holdings Co. Ltd. On January 15th 2016. The activities    We are very happy to submit our Report, which is prepared in
                   of Dyo Printing Inks in 2015 are also included in the scope of   Turkish and English, to you.
                   the report.                                                                                                                      1. Determination of Relevant Sustainability                         In this context, face to face interviews were made with 4
                                                                                    Your feedbacks are important for us …                                                                                               members of Yaşar Holding Board of Directors. The board
                   In addition, the content of the report also comprises                                                                                                                                                members were asked to choose and rank the sustainability
                                                                                    You can direct any kind of opinion, recommendation and
                   Yaşar University founded by Yaşar Education and Culture                                                                          While determining the relevant sustainability topics, GRI G4        topics having strategic importance for Yaşar Group.
                                                                                    question you may have about Yaşar 2015 Sustainability
                   Foundation and Selçuk Yaşar Sports and Education                                                                                 Sustainability Reporting Guidelines, GRI Food Processing
                                                                                    Report published by Yaşar Group to                                                                                                  19 people, who are in top level management in Yaşar Group
                   Foundation and Pınar Institute. Data generally presented in                                                                      Sector Disclosures and “Sustainability Topics for Sectors:
                   the report, however, are not related to those entities. Their                                                                                                                                        companies and who are decision makers, participated in Yaşar
                                                                                                                                                    What Do Stakeholders Want to Know?” report issued by GRI,
                   activities are included in the report only for information                                                                                                                                           Group Top Management Materiality Workshop. As the result
                                                                                                                                                    as well as the dynamics in the sectors, where Yaşar Group
                   sharing purposes.                                                                                                                                                                                    of long assessments, the sustainability topics having strategic
                                                                                                                                                    companies act, and the economic, social and environmental
                                                                                                                                                                                                                        priority were determined from the eyes of top management.
                                                                                                                                                    impacts of those sectors and Yaşar Group’s economic, social
                                                                                                                                                    and environmental impacts and the feedbacks received from           While prioritizing the topics, the economic, social and
                                                                                                                                                    the stakeholders directly or indirectly in time, have been          environmental impacts created by Yaşar Group; the risks and
                                                                                                                                                    used.                                                               opportunities created by the relevant sustainability topics;
                                                                                                                                                                                                                        the reflection of the topics on the long-term performance of
                                                                                                                                                    2. Determination of Sustainability Topics Having                    the company were among the matters that are taken into
                                                                                                                                                    Strategic Priority for Yaşar Group                                  consideration.

                                                                                                                                                    Discussions and workshops were held at the level of                 Consolidating the priorities of Board of Directors and Top
                                                                                                                                                    both Board of Directors and Top Management in order to              Management, the sustainability topics that are found to have
                                                                                                                                                    determine the topics having strategic priority for Yaşar Group.     strategic priority for Yaşar Group were determined.
                   4 Yaşar 2015 Sustainability Report                                                                                                                                                                                              Yaşar 2015 Sustainability Report 5
Yaşar 2015 Sustainability Report - Yaşar Holding
Material Sustainability Topics

                                                                                                                                                                                                                                                                                                                                                                                                                                    Material Sustainability Topics
                                 3. Determination of Sustainability Topics That are Material for the Stakeholders                                                              4. Consolidation of Results and Preparation of Materiality Matrix
                                 G4-18, G4-19, G4-20, G4-21, G4-23, G4-24, G4-25, G4-26, G4-27                                                                                 G4-18, G4-19, G4-20, G4-21, G4-23, G4-24, G4-25, G4-26, G4-27

                                 Yaşar Group, which acts in many sectors, has a very wide stakeholder network. In order to determine the material sustainability               Yaşar Group Materiality Matrix is created by placing the topics having strategic importance for our Group and the topics having
                                 topics for our stakeholders, different stakeholder dialog tools were used in compliance with the nature of the stakeholder group.             priority for our stakeholders into the matrix.

                                 In this context;                                                                                                                                       Yaşar Group Materiality Matrix

                                 • A total of 212 stakeholder group representatives were accessed through 9 workshops.

                                 • Face to face interviews were made with 13 public representatives and 6 NGO representatives, corresponding to a total of 19.                                                                                                                                                                                                                                    Protecting Natural and Cultural

                                 • The representatives of a total of 73 institutions were accessed through 9 two-stage online questionnaires.                                                                                                                                                                                                                                                             Animal Welfare


                                 The stakeholder groups to be included in the materiality assesment were determined together with our Group companies,                                                                                                                                                                                                                   Preventing Corruption and
                                                                                                                                                                                                                                                                                                                                                                                                            Social Investments
                                                                                                                                                                                                                                                                                                                                                                                                           Contribution to
                                                                                                                                                                                                                                                                                                                                                                            Unfair Competition
                                 taking the effect and accessibility factors into consideration, and care was paid to select the person and institution to be                                                                                                                                                                                                                                               Local Economy
                                                                                                                                                                                                                                                                                                                                                                                        Environmental and Social
                                                                                                                                                                                                                                                                                                                                                                                         Compliance of Suppliers
                                 interviewed so as to represent the stakeholder group.                                                                                                                                                                                                                                                             Diversity, Equal Opportunity and

                                                                                                                                                                                                                                                                                                                                                                                      Investments and Payment for Environmental
                                 The list of our stakeholder groups, which participated in Yaşar Group materiality assesment, their distribution to our sectors of                                                                                                                  Ethic and Compliance                                                                                              Protection

                                                                                                                                                                                     Importance for Stakeholder
                                 activity and the stakeholder dialog tool used are given in the following table.                                                                                                                                                                                                                                         Sustainable Purchase

                                                                                                                                                                                                                                                                                                                Sustainable Agriculture and Stock Breeding

                                  Yaşar Holding        Food and Beverage                    Coating                   Tissue Papers                Trade and Service                                                                                                                                  Water Management

                                                               Group                         Group                         Group                           Group                                                                                                                                                                       Waste Management

                                     Employees               Employees                     Employees                     Employees                       Employees
                                                                                                                                                                                                                                                                                   Employee's Development
                                                                                                                                                                                                                                                          Economic Performance

                                     (workshop)              (workshop)                  (2 workshop)                    (workshop)                     (workshop)
                                                             Consumers                  Coating Masters                  Customers                      Customers*                                                                                                                                                     Employees' Rights

                                                                                                                                                                                                                                                                                            Energy Efficiency
                                                            (2 workshop)                  (workshop)               (online questionnaire)          (online questionnaire)
                                                             Customers                 Direct Customers                   Suppliers                                                                                      Consumer/Customer's Health and Safety                                                    Occupational Health and Safety

                                                       (online questionnaire)       (online questionnaire)         (online questionnaire)
                                                                                                                                                                                                                  Quality, Innovation, R&D/Product and Service
                                                              Suppliers                     Dealers                                                                                                                                 Excellence

                                                       (online questionnaire)       (online questionnaire)
                                                             Civil Society                  Suppliers
                                                                                                                                                                                                                  high                                                                                                                                                                                              low
                                                       (online questionnaire)       (online questionnaire)                                                                                                                                                                       Strategical Importance

                                                                Public                    Civil Society                                                                        In accordance with this, the list of the sustainability topics are material for Yaşar Group and their scopes are given in the
                                                      (face to face interview)      (face to face interview)                                                                   following table.
                                                                                                                                                                                                                              Material Sustainability Topics                                                                                             Scope
                                                                                    (face to face interview)
                                                                                                                                                                                                                                   Quality, Innovation and R&D                                                                        Yaşar Group Companies
                                 *Since a sufficient number of stakeholder representatives could not be accessed, the results are not included in the materiality assesment.
                                                                                                                                                                                                                         Consumer/Customer Health and Safety                                                                          Yaşar Group Companies
                                 The relevant sustainability topics were shared with our stakeholders through the performed workshop, face to face interviews                                                                            Economic Performance                                                                         Yaşar Group Companies
                                 and questionnaires and they were asked to rank the topics they consider to be material. Furthermore, sustainability training                                                                            Ethics and Compliance                                                                        Yaşar Group Companies
                                 was provided for the participants at the workshops, hence a better efficiency was ensured in the workshops. The studies have                                                                                  Employee Rights                                                                        Yaşar Group Companies
                                 been very useful in terms of understanding the expectations of the stakeholders from Yaşar Group, as well as learning their                                                                            Employee Development                                                                          Yaşar Group Companies
                                 recommendations and strengthening our dialog with our stakeholders.                                                                                                                            Occupational Health and Safety                                                       Yaşar Group Companies, Sub-contractors

                                 The obtained results were grouped and consolidated on company basis, hence, the sustainability topics, which our stakeholders                                                       Equal Opportunity and Non-Discrimination                                                                         Yaşar Group Companies
                                 consider to be material, were determined.                                                                                                                                           Sustainable Agriculture and Stock Breeding                                                             Yaşar Group Companies, Farmers
                                                                                                                                                                                                                         Sustainable Supply Chain Management                                                               Yaşar Group Companies, Suppliers
                                                                                                                                                                                                                                            Water Management                                                                          Yaşar Group Companies
                                                                                                                                                                                                                                    Energy and Climate Change                                                                         Yaşar Group Companies
                                                                                                                                                                                                                                            Waste Management                                                                          Yaşar Group Companies

                                                                                                                                                                               While determining the contents of Yaşar 2015 Sustinability Report, the sustainability priorities of Yaşar Group were taken as
                                                                                                                                                                               basis. Some topics, which have relatively low priority in Yaşar Group Materiality Matrix were included in the report to the extent
                                                                                                                                                                               they are related to the topics that are determined to have high priority.
                                 6 Yaşar 2015 Sustainability Report                                                                                                                                                                                                                                                                                      Yaşar 2015 Sustainability Report 7
Yaşar 2015 Sustainability Report - Yaşar Holding
About Yaşar Group

                                                                                                                                                                                                                                                               About Yaşar Group
                    About Yaşar Group

                                                       Yaşar Group At a Glance                                                                              Our Mission and Corporate Values

                     Corporate Profile                 The Group’s principal business lines consist     responsibility projects. Yaşar University is        Our values within the frame of our mission,
                                                       of food and beverages and of coatings. With      among the leading universities of Turkey with       which is defined as adding value to the
                     Corporate Name                    20 companies, 24 factories and facilities, 2     its education in line with the international        lives of consumers by providing high quality
                     Yaşar Holding A.Ş.                charitable foundations, and approximately        standards.                                          products and services with our trusted brands
                                                       7500 employees the Group is also active in                                                           are: Our Consumers and Customers Come
                     Business Segments                                                                  The Yaşar Group also creates social benefit
                                                       business lines such as tissue paper, tourism,                                                        First, Our Operational Excellence, Our Human
                     Food-beverages, coating,                                                           with the involvement of corporate social
                                                       energy, trade and services. 6 of Yaşar                                                               Resources, Our Ethical Stance and Our
                     agricultural production,                                                           responsibility projects. Based on the
                                                       Holding’s subsidiaries are traded on the                                                             Environmental and Social Responsibilities.
                     tissue paper, trade                                                                awareness of being a corporate citizen all of
                                                       Borsa Istanbul: Pınar Dairy, Pınar Meat, Pınar                                                       Yaşar Holding Sustainable Development
                     services, energy                                                                   our efforts touching people in their daily life
                                                       Water, Dyo Coating, Viking Tissue and Altın                                                          Policy has been defined on the basis of
                                                                                                        are aimed at having a sustainable world with
                     Number of Employees               Yunus. The head office of Yaşar Holding A.Ş.                                                         our mission and values. Following the
                                                                                                        the motto of “for a better life”. In this regard,
                     7.500                             is located in İzmir.                                                                                 international developments with the principle
                                                                                                        our Group manages all business processes
                                                                                                                                                            of not compromising our ethical, accountable
                     Date of GC Membership             The Yaşar Group has been a pioneer in            on the sustainability axis and reports those                                                          Following the
                                                                                                                                                            and honest business understanding and
                     November 12th 2007                Turkey with its two best-known brands most       activities under the principle of transparency.                                                       international
                                                                                                                                                            serving to the sustainable development
                                                       noticeable by consumers. Our Group which         By joining the signatories of United Nations
                                                                                                                                                            targets are the main foundations. Allowing
                                                                                                                                                                                                              developments with
                     Address                           leads the sectors in which it is included has    (UN) Global Compact (GC) in 2007 Yaşar
                                                                                                                                                            our employees to improve themselves while         the principle of
                     Şehit Fethi Bey Cad.
                     No:120 35210 Izmir, Turkey
                                                       realized important investments with Pınar        Group prepared its Communication on
                                                                                                                                                            providing a fair working environment for          not compromising
                                                       and Dyo brands supported by TURQUALITY®          Progress Reports in 2009 and 2010 within
                                                                                                                                                            them, supporting the local while providing        our ethical,
                                                       Program.                                         the frame of UNGC. Sustainability Reports
                     Authorized Person and                                                                                                                  high quality products and services for the        accountable and
                     Position                                                                           are accessible at www.yasar.com.tr and have
                                                       The Group, which was opened to the
                                                                                                        been issuing every year since 2011.
                                                                                                                                                            needs of the society, protecting the local        honest business
                     Dilek EMİL,                                                                                                                            values, contributing to the progress of
                                                       international markets in 1970s for the first                                                                                                           understanding
                     Coordinator,                                                                                                                           society with the collaborations we developed
                                                       time, is competing with the world trademarks     Empowering of women is one of the most                                                                and serving to
                     Corporate Affairs                 in Europe with Pınar Foods GmbH, which was                                                           are the other elements of our Sustainable
                                                                                                        important item in our agenda that we focus                                                            the sustainable
                                                       founded in Germany in 2000. Pınar reaches        on and follow closely. Increasing the personal      Development Policy. While performing all
                     Contact Details
                                                                                                                                                            those activities, our priority is to measure
                                                       the consumers of Middle East and the Gulf        and professional progress of the both our
                     Phone                             region with HDF FZCO, which was founded in                                                           our environmental impact, to improve it, and      targets are the
                                                                                                        women employees and the women included
                     +90 312 294 92 00                 Dubai in 2000.                                   in our supply chain is among our targets.           to contribute to the protection of natural        main foundations.
                                                                                                        Our support continues to empower the                resources. Furthermore, it is indispensable
                     E-mail                            Dyo Coating is continuing its investments                                                            for our Sustainable Development Policy to
                                                                                                        women through the initiatives in which we
                     dilekemil@yasar.com.tr            abroad with Dyo Balkan (Romania), Kemipex                                                            continue supporting the improvement of
                                                                                                        take apart. With this regard “CEO Support
                                                       (Russia) and Dyo Africa (Egypt), which are its                                                       new generations through investments in
                                                                                                        Declaration for UN Women’s Empowerment
                                                       affiliated partnerships acting abroad.                                                               education, culture and art in the future, as in
                                                                                                        Principles” was signed in 2012. “The Equality
                                                                                                        at Work Platform”, which is brought to the          the past.
                                                       Our Group gives importance to social
                                                       development as much as economic                  agenda by the World Economic Forum, and
                                                                                                                                                            Within the frame of our Sustainable
                    www.yasar.com.tr                   development, by supporting education,            which is continued under the leadership of
                                                                                                                                                            Development Policy, Yaşar Group companies
                                                       sports, culture and art through Yaşar            the Ministry of Family and Social Policies, and
                                                                                                                                                            is sharing the value it created “for a better
                                                       Education and Culture Foundation and Selçuk      the “Work Group for Empowering of Women”
                                                                                                                                                            life” by “caring for” each ring of the value
                                                       Yaşar Sports and Education Foundation, and       that is founded by Global Compact Turkey
                                                       is producing social benefits with the social     Board of Directors are among the formations,
                                                                                                        in which our Group is included.

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Yaşar 2015 Sustainability Report - Yaşar Holding
About Yaşar Group

                                                                                                                                                                                                                                                                                                    About Yaşar Group
                    Corporate Profile

                                                                                      Food & Beverages                                                                                  Coatings          Tissue Papers                                 Trade and Service
                                                                                            Group                                                                                        Group                 Group                                          Group
                                                                                                               Yaşar Birleşik                                                           Dyo Boya                                 Altın Yunus Çeşme
                                         Pınar Süt Mamulleri    Pınar Entegre Et      Pınar Su Sanayi ve                         Çamlı Yem Besicilik                                                       Viking Kağıt ve                              Yaşar Bilgi İşlem ve Desa Enerji Elektrik
                                                                                                             Pazarlama Dağıtım                                                      Fabrikaları Sanayi                            Turistik Tesisler
                                             Sanayii A.Ş.      ve Un Sanayii A.Ş.         Ticaret A.Ş.                            San. ve Tic. A.Ş.                                                          Selüloz A.Ş.                                  Ticaret A.Ş.          Üretim A.Ş.
                                                                                                             Turizm ve Ticaret                                                       ve Ticaret A.Ş.                                    A.Ş.
                                            (Pınar Dairy)         (Pınar Meat)           (Pınar Water)                              (Çamlı Feed)                                                           (Viking Tissue)                                   (Astron)              (Desa)
                                                                                                                A.Ş. (YBP)                                                           (Dyo Coating)                                 (Altın Yunus)

                      Publicly Traded                                                                                                                     Publicly Traded

                     Foundation Year            1973                  1985                   1984                  1983                 1983             Foundation Year                  1954                  1969                    1974                   1983                 1996
                       Headquarter              Izmir                 Izmir                  Izmir                 Izmir                Izmir               Headquarter                   Izmir                 Izmir                  Izmir                   Izmir                Izmir
                                                                                                              Izmir, Istanbul,                                                       Izmir, Kocaeli,
                                                                                                                                                               Factory                                          Izmir                 Izmir(3)                Izmir(4)             Izmir(3)
                                                                                                             Antalya, Bodrum/                                                            Manisa
                                           Izmir, Eskişehir,                            Aydın, Sakarya,
                          Factory                                     Izmir                                   Muğla, Adana,        Izmir, Manisa(2)                                                                                    1.021
                                              Şanlıurfa                                 Isparta, Bursa
                                                                                                             Ankara, Trabzon,                              Total Capacity           260.000 ton/year      45.800 ton/year             person/                                     10,4 mW
                                                                                                                 Samsun(1)                                                                                                         accomodation
                                          310.000 ton/year                                                                                                                           Dyo, Dewilux,       Premia, Lily, Senso,
                                                                                                                                                                Brands                                                                                        Astron
                      Total Capacity         raw milk in        58.000 ton/year       1.800.000 ton/year       322.048 ton(5)    335.000 ton/year                                         Casati            Select, Pufla
                                             processing                                                                                                       # of SKU                   15.700                  141                                                                  3
                                                                                                                                 Çamlı, Pınar Balık,        Employment                    1.060                  369                    238                    110                    21
                          Brands                Pınar                 Pınar                  Pınar                               Biofarm, CoolDog,       Distribution and                                   220 dealer +
                                                                                                                  Nar’ca                                                               800 dealer                                                                              Aegean Region
                                                                                                                                      Bioaqua            Service Network                                  direct customer
                         # of SKU                500                  500                     16                    600                  396                                                                                      www.altinyunus.                              www.desaenerji.
                                                                                                                                                                    Web              www.dyo.com.tr       www.viking.com.tr
                       Employment               1.172                1.092                    452                  1.187                 467
                                                                                                                                                                                                         EU Countries, Central
                                                                                                               100+ dealer,
                     Distribution and                                                     566 dealer,                                                                                                      Asian Republics,
                                               via YBP              via YBP                                   150.000'e sales        209 dealer                                     EU Countries, Gulf                           Germany, Balkans,
                     Service Network                                                     12 distributor                                                                                                         Africa,
                                                                                                                   point                                   Foreign Trade             Countries, Middle                            England, Greek,
                                                                                                                                                                                                           Central America,
                           Web             www.pinar.com.tr     www.pinar.com.tr       www.pinarsu.com.tr     www.ybp.com.tr      www.camli.com.tr                                     East, Africa                              Scandinavia, Iran(6)
                                                                                                                                                                                                         Middle East and Gulf
                                                               EU Countries, USA,
                                            Gulf Countries,    Middle East and Gulf                                                 EU Countries,
                                                                                         EU Countries,
                                           Turkic Republics,    Countries, Russia,                                               Middle East and Gulf   (1) Regional Directorates
                      Foreign Trade                                                   Gulf Countries, USA,
                                                                                                                                                        (2) Factories & Plant
                                          USA, EU Countries,    Turkic Republics,                                                 Countries, Russia,
                                                                                            Far East                                                    (3) Plant
                                                TRNC             Far East, TRNC,                                                    USA, Far East
                                                                                                                                                        (4) Offices
                                                                Australia, Canada
                                                                                                                                                        (5) Total Sale Amount
                                                                                                                                                        (6) Customers’ Country Origins

                    10 Yaşar 2015 Sustainability Report                                                                                                                                                                                                      Yaşar 2015 Sustainability Report 11
Yaşar 2015 Sustainability Report - Yaşar Holding
About Yaşar Group

                                                                                                                                                                                                                                                                                          About Yaşar Group
                    Important Developments In 2015                                                                                                     Recognitions
                    Dyo Coating                                  • Improvement of Animal                     which includes caring, feeding, and       • Yaşar Holding has been one of the companies awarded by          • In the research on the “Most Favored Companies of
                                                                   Welfare: With the investment and          breeding to produce healthy and high        the Ethical Values Center Association with “ETİKA Ethics          Turkey”, which was held by GFK and Capital Magazine,
                    Dyo Coating which ranked 145th rising          infrastructure works performed in the     quality raw milk.                           Awards of Turkey 2014”.                                           Pınar Dairy was the most favored company in the “Dairy
                    12 steps in the ranking of 500 Big             cattle slaughterhouse and paddocks,                                                                                                                     Products” sector.
                                                                                                                                                       • Yaşar Holding was awarded by the Sustainable Production
                    Industrial Organizations of Turkey,                                                      Cleanroom and packaging investments
                                                                   our animal health and welfare                                                         and Consumption Association and Energy Efficiency               • Aegean Region Chamber of Industry (EBSO) Award
                    which was announced in 2015 based                                                        were made for new product series such
                                                                   practices reached to the top level.                                                   Association with “Low Carbon Hero” prize, due to the              Ceremony assessing 2013 performance was held on
                    on the numbers of 2014. On the other                                                     as “On the Go” and “Open and Eat Up”
                                                                   As a result of third party audit our                                                  carbon reduction works carried out in the scope of its            January 16th 2015. Pınar Dairy, Pınar Meat and Pınar Water
                    hand according to the “Fortune 500                                                       in Izmir Factory. New line investments
                                                                   systems excellence was verified.                                                      sustainability approach.                                          were awarded with a total of 12 prizes. Pınar Dairy was
                    Turkey” list announced by Fortune                                                        were made for “UF Cheese” product in
                                                                                                                                                       • Altın Yunus was honored with the International Blue Flag          awarded as the winner in the following categories: “Highest
                    Turkey Dyo Coating with the 2014 net         Pınar Water                                 Eskişehir Factory.
                                                                                                                                                         Award in 2015 due to its full compliance with the Blue Flag       Export”, “Highest Investment”, “Highest Production”
                    sales figure has risen to the 222nd rising                                               Believing the importance of                                                                                   and “Provision of Highest Employment in Production”.
                                                                 In December, 2015, Bursa facility for                                                   criterias such as the cleanliness of the beach and sea water,
                    one step.                                                                                transparency in sustainability, Pınar                                                                         Furthermore, it has become the fourth in the category
                                                                 Natural Spring Water with Recyclable                                                    the equipment and services of the facility, environmental
                                                                 Package was opened. By this way, our        Dairy has been the first dairy products     management approach and environmental training hold by            of “Big Firm Success Award In Tax”. Pınar Meat was
                    Pınar Meat
                                                                 recyclable product capacity increased to    producer participating in both CDP          Altın Yunus.                                                      awarded in the meat, fish and meat products industry with
                    • İzmir, Kemalpaşa-Ören Breeding             568.000 tons/year from 335.000 tons/        (Carbon Disclosure Project) and CDP                                                                           the winning prize in the categories of “Highest Export”,
                                                                                                                                                       • Altın Yunus was awarded with Zoover Bronze prize by
                      Farm: Cattle breeding was decided          year, with a 70% increase.                  Water Program. It ranked first among                                                                          “Highest Investment”, “Highest Production” and “Highest
                                                                                                                                                         Zoover Travel Comments Site in 2015.
                      in 2015 to make sustainable raw                                                        the volunteers in CDP 2015 Climate                                                                            Employment in Production”. Furthermore, it has become
                                                                 Pınar Dairy                                                                           • Pınar was awarded with the Superbrands prize given to the
                      materials available for supply chain.                                                  Change Turkey Report.                                                                                         the second in “Big Firm Success Award in Tax” category.
                                                                                                                                                         best trademarks of Turkey in 2015.
                      The existing paddock areas were                                                                                                                                                                    • Pınar Water has been awarded as the runner-up in
                                                                 In 2015, a new dairy plant investment       Viking Tissue                             • Pınar was awarded with three prizes by Stevie Awards,
                      re-designed so as to ensure animal                                                                                                                                                                   Beverage Industry Profession Group in the categories
                                                                 has been taken in to operation                                                          which is among the most reputable awards of the world.
                      welfare and the works were started                                                     In 2015, modernization works were                                                                             of “Highest Investment” and “Highest Employment in
                                                                 in Şanlıurfa, which is the largest                                                      Pınar Childrens Theater was awarded with Silver Stevie
                      in April, 2015. Approximately 20.000                                                   performed in Viking Tissue on PM1                                                                             Production”.
                                                                 food investment ever made in the                                                        in “Europe Corporate Social Responsibility Program of the
                      m paddock areas and auxiliary
                                                                                                             (Paper Machine 1). As a result, the                                                                         • In the Crescent and Stars of Packaging Competition 2015,
                                                                 Southeastern Anatolia region. We                                                        Year”. Pınar Institute’s Project Sütümüzün Geleceği Bilinçli
                      enterprises were completed in                                                          machine capacity was increased by                                                                             Pınar was awarded with the silver prize in graphic design
                                                                 produce milk, ayran and fruit juice                                                     Ellerde (The Future of our Milk is in Conscious Hands) was
                      August. Upon completion, the                                                           20%.                                                                                                          category with its Special Cheese Family.
                                                                 in this plant. This plant is designed                                                   awarded with Bronze Stevie in the “International Business
                      first lot of breed was taken to the
                                                                 to accommodate the increase in the          YBP                                         Awards” category. Pınar Painting Contest was awarded with       • In 2015 Effie Turkey Advertisement Activity Contest, which
                      farm. For the full integration of the
                                                                 diversity of products according to                                                      Bronze Stevie in the section of “Communication Campaign           was held by the Advertisers and Clients Association, Pınar
                      breeding farm a biogas facility has                                                    In 2015 YBP established an important
                                                                 needs, by using energy efficient and                                                    of the Year-Media Relations”.                                     Milk for Children was awarded with “Silver Effie” with the
                      been projected to be realized to                                                       co-operation with Kahve Dünyası which                                                                         campaign “Triple Support for the Nutrition of your Child” in
                                                                 nature-friendly technologies with full                                                • Pınar Dairy Izmir Plant was awarded as the most efficient
                      produce renewable energy with an                                                       is one of the leading cacao and coffee                                                                        the “Basic Food” category.
                                                                 automation. The Company increased its                                                   industrial enterprise decreasing energy density by 65.3% in
                      environmental friendly approach.                                                       producers of the world to sell and
                                                                 raw milk processing capacity by 18%                                                     the food and beverage sector by the Ministry of Energy and      • Pınar became the first winner of the Gulf 2015 “Product of
                                                                                                             distribute its products.
                    • The investment on a closed area            upon completion of this investment.                                                     Natural Resources in the 15 Project Contest on Industrial
                                                                                                                                                                                     th                                    the Year” prize. This contest awards the world leading firms
                      of 6.500 m2 including “Auxiliary           Pınar Dairy purchases raw milk from         In the same year, organizational            Energy Efficiency.                                                in fast moving consumer goods category every year. Labne
                      Material Warehouses, Product               Şanlıurfa as well as other surrounding      structure and work models were                                                                                (mild cream cheese) is one of the category opened for the
                                                                                                                                                       • As a result of the research on “Measurement of Reputation
                      Warehouses, Production Building,           provinces and districts. We held            changed to respond to the structural                                                                          first time this year.
                                                                                                                                                         and Trademark Value Performance” made by both
                      Social Facilities, Cooling Supply          trainings for all producers in the region   market modifications. Restructuring         Marketing Turkey Magazine and Akademetre Research               • Viking Tissue was awarded with 5 prizes by EBSO in
                      Building” was completed and                by the participation of Pınar Institute     was made to increase the focus and          Company, Pınar was awarded with “Leadership in Beverage           January 2015. Viking was awarded with “Superior Sale
                      commissioned in March, 2015.               and Çamlı Feed.                             performance on Consumption Outside          Sector” in “Integrated Marketing Price”.                          Performance” and Runner-up Prizes for Production, Export,
                      Sustainable improvement on food                                                        Home (COH). Furthermore new                                                                                   Employment, and Investment in the Tissue and Tissue
                                                                 Our target is to make contribution to                                                 • Pınar Balık, was awarded with “Superior Taste Award” by
                      safety, occupational health and                                                        arrangements have been embraced                                                                               Products Industry.
                                                                 the development of dairy sector in the                                                  ITQI (International Taste and Quality Institute), which
                      safety, environment and energy                                                         with the expectation to increase
                                                                 region through our training meetings                                                    was performed with the blind tasting test of the chiefs and
                      management has been achieved                                                           the service quality and efficiency in
                                                                                                                                                         sommeliers, who are opinion leaders in their area.
                      through this investment.                                                               distribution lines.

                    12 Yaşar 2015 Sustainability Report                                                                                                                                                                                            Yaşar 2015 Sustainability Report 13
Yaşar 2015 Sustainability Report - Yaşar Holding
“Following the path of science, and constantly

improving ourselves producing the best.

That’s why we exist.”

Selçuk YAŞAR

                                                 Caring for Business
Yaşar 2015 Sustainability Report - Yaşar Holding
Economic Performance

                                                                                                                                                                                                                                                                                                                           Economic Performance
                       Economic Performance
                       2015 was a difficult year for both the world and Turkey          Even if it has become difficult to reach the export targets                                                                                                                                 31.12.2015          31.12.2014
                       especially since developing countries’ shares on the growth      due to the developments in the nearby geography and the         Directly Produced Economic Value                                                                                             3.197.930            2.965.811
                       have been decreased. However Turkey manage to grow               diminishing demand in Russia, Azerbaijan and Northern Iraq      - Incomes                                                                                                                    3.197.930            2.965.811
                       with a very low rate despite the volatility in cross-rates and   Markets, we managed to export to more than 70 countries in                                                                                                     Revenue (net sales)             3.197.930           2.965.811
                       interests and besides the risks and uncertainty experienced      2015, to obtain a 2% and a 10% percent growth in coatings
                                                                                                                                                        Distributed Economic Value                                                                                                   2.965.953            2.774.674
                       for a long time in the region. The decreases in the commodity    and food and beverage business lines respectively.
                                                                                                                                                        - Operational expenses ***                                                                                                     2.578.070           2.419.253
                       prices have resulted in a positive impact for our country as a
                                                                                        Besides that, a 24% (TL 128 million) increase was ensured in    - Wages and fringe benefits ****                                                                                                  336.307             312.494
                       net importer in raw material.
                                                                                        investment comparing to 2014. A total investment of TL 158      - Payments to the shareholders *****                                                                                                 37.381            29.464
                       On the other hand, 2015 has been a year, during which            million was made in 2015, consisting of 77,7% in the Food       - Payments to the States (on country basis) ******                                                                                   14.195            13.463
                       our Group performed controlled growth. With the existing         and Beverage Group, 13,3% in the Coatings Group, 4,6% in        Retained Economic Value                                                                                                         231.977             191.137
                       conditions, Yaşar Group was focused on stable markets            Tissue Papers Group and 4,4% in other areas.
                       rather than risky products and customers and has exhibited
                                                                                        With the sale of 75% of Dyo Printing Inks, which is one of     - The amounts are in Turkish Liras (“TL”) unless otherwise specified.
                       a prudent attitude. Our priorities have been efficiency and
                                                                                        the subsidiaries of Yaşar Holding, to Toyo Ink SC Holdings     - The information based on 2015 Yaşar Holding Consolidated Independent Audit Report.
                       cost optimization, working capital and effective liquidity
                                                                                        Co. Ltd, which is among the leading ink producers of the       *** The cost of the sales, marketing expenditures, general management expenditures and R&D expenses in the consolidated income tables have been taken as
                       management, healthy management of competition and                                                                               operational expenses.
                                                                                        world, we expect an increase in business volume both in the    **** The personnel expenses are included in Footnote 29 of the consolidated report are taken into consideration within the scope of the wages and fringe benefits
                       market risks.
                                                                                        domestic and foreign markets.                                  of the employees.
                                                                                                                                                       ***** The paid dividend amount in the cash flow table of the consolidated report is used for payments to shareholders.
                       The Group taking into consideration of all its stakeholders,
                                                                                                                                                       ****** The amount of taxes paid in advance in Footnote 38 of the consolidated report is used in the item of payments to the States.
                       operates with a transparent, fare, accountable and
                       responsible manner has had a net sale of 3.198 million TL in
                       2015. While 72,7% of those sales came from the Food And
                       Beverage Group, 21,9% of it from the Coatings Group. The                                                                           The Capital Structure of Yaşar Holding A.Ş as of December 31st 2015 and 2014
                       rest was shared within the Tissue Papers Group and the trade
                       and Service Group with 4,1% and 1,3% respectively.
                                                                                                                                                        Shareholders                                                           Share (%) 31 December 2015                  Share (%) 31 December 2014
                                                                                                                                                        Hedef Ziraat (*)                                                           67,06                     151.510               67,03                      151.460
                                                                                                                                                        Members of Yaşar Family                                                    23,74                      53.640               23,74                        53.640
                                                                                                                                                        Other                                                                        9,2                      20.793                 9,23                       20.843
                                                                                                                                                        Total Capital                                                               100                    225.943                   100                    225.943
                                                                                                                                                        Capital Correction                                                                                   177.339                                          177.339
                                                                                                                                                        Total Paid Capital                                                                                 403.282                                          403.282

                                                                                                                                                       (*) The main partner of Hedef Ziraat is Yaşar Family.
                                                                                                                                                       There are 22.594.316.100 (December 31st 2014: 22.594.316.100 shares) shares, each being worth of 1 Kr. There is no privilege applied for different share groups
                                                                                                                                                       and certain shareholders. All of the issued capital is paid.

                       16 Yaşar 2015 Sustainability Report                                                                                                                                                                                                                 Yaşar 2015 Sustainability Report 17
Sustainability Management

                                                                                                                                                                                                                                                                                                     Sustainability Management
                            Sustainability Management
                            Our Sustainability Development Policy                             In this respect, we disseminate the ethical, accountable and       Group in a general sense. In the meantime the Committee            was established in 2015 in order to transform the knowledge,
                                                                                              honest management understanding, which are in compliance           assesses the risks and opportunities to improve the                skills and experiences of the employees into social benefits.
                            Our values within the frame of our mission, which is defined
                                                                                              with the Sustainable Development Targets, and we continue          sustainability strategy and the implementation tools. Another
                            as adding value to the lives of consumers by providing high                                                                                                                                             The Executive Board of Yaşar Volunteers Platform which is
                                                                                              to operate by taking into consideration the needs of the           target of the Committee is to have employees who are
                            quality products and services with our trusted brands are:                                                                                                                                              responsible for structuring, started working to attract the
                                                                                              consumers and the society. In the Group, we give a big             trained for taking a part in the sustainability process. All the
                            Our Consumers and Customers Come First, Our Operational                                                                                                                                                 employees for voluntary projects. First, a questionnaire
                                                                                              importance to the development of the employees and their           assessments raised in the regularly hold meetings are being
                            Excellence, Our Human Resources, Our Ethical Stance and                                                                                                                                                 was shared with more than 2,000 employees in the Group
                                                                                              happiness.                                                         reported and actions are taken to meet the emerging needs.
                            Our Environmental and Social Responsibilities.                                                                                                                                                          and later a training session was held for the first group
                                                                                                                                                                 Furthermore, our sustainability activities are also supported
                                                                                              Being aware of our ecological footprint and especially our                                                                            of the employees who declared their interest in becoming
                            Yaşar Holding Sustainable Development Policy has been                                                                                by the Committees on Energy and Prevention of Waste.
                                                                                              carbon and water footprint we try to observe a balance                                                                                volunteers. Following the training session, the volunteers
                            defined on the basis of our mission and values.
                                                                                              between the use and protection of the environment knowing          In the sustainability works of our Group, the international        started developing their own projects with the intention of
                               Based on the principle of “not compromising our ethical,       the fact that we are responsible for the way of how our            norms and criteria are taken as a reference. Thus, the Group       realizing their first project in the year 2016.
                               accountable and honest business understanding”                 business partners operate in our value chain, we work on           joined the signatories of UNGC in 2007 and prepared its
                               “following the international developments and serving to       improving their awareness on this issue.                           Communication on Progress Reports in 2009 and 2010. GRI
                               the sustainable development targets with our business                                                                             (Global Reporting Initiative) standard has been adopted
                                                                                              Based on the sustainability policy, our strategy and the
                               lines”                                                                                                                            by our Group emphasizing the importance of an open
                                                                                              targets are determined and supported at the level of Board of
                                                                                                                                                                 communication with the stakeholders. Hence Our Yaşar 2014
                               are the main foundations of Yaşar Holding Sustainable          Directors. The implementation of this strategy is ensured by
                                                                                                                                                                 Sustainability Report was graded at B level by GRI in the
                               Development Policy                                             top management.
                                                                                                                                                                 scope of G3.1 criteria in 2015.

                               “Allowing our employees to improve themselves                  Our Group, originating from the understanding “you cannot
                                                                                                                                                                 The data included in our Sustainability Reports is provided
                               while providing a fair working environment for them”,          manage what you cannot measure”, has formed Carbon and
                                                                                                                                                                 by the Sustainability Reporting Team Members, Carbon and
                               “supporting the local and protecting the local values, while   Water Footprint Teams and designated the leaders for the
                                                                                                                                                                 Water Leaders and the Teams.
                               providing high quality products and services for the needs     sake of carbon and water footprint calculations.
                               of the society”,                                                                                                                  Based on the “caring for society and our employees”
                                                                                              The greenhouse gas inventory management system practices,
                                                                                                                                                                 understanding, which is an indispensable part of our
                               “with the help of our developed collaborations                 which were launched in 2014 and which allows gathering
                                                                                                                                                                 sustainability strategy, projects are being developed for
                               contributing to the progress of society“,                      the data on the Group companies in a single system and
                                                                                                                                                                 the personal and professional improvement of our women
                                                                                              their instantaneous follow-up, were completed and their
                                                                                                                                                                 employees and the women involved in our supply chain.
                               “while performing all activities being sure to measure         application was started in 2015. Our target for the next
                                                                                                                                                                 “CEO Support Declaration for the UN Women’s Empowerment
                               our environmental impact, to improve this impact and to        period is to complete the water footprint management system
                                                                                                                                                                 Principles” signed in 2012; “Equality at Work Platform”, which
                               contribute to the protection of natural resources”,            and to make the calculations online for instant follow up.
                                                                                                                                                                 was brought to the agenda by the World Economic Forum,
                               “continue to support the improvement of new generations        Sustainable Development Committee was established as a             and carried out with the leadership of the Ministry of Family
                               through investments in education, culture and art in the       result of “Corporate Reputation Project”, launched in 2010.        and Social Policies; and the “Work Group on Empowering
                               future, as we did in the past”,                                Sustainable Development Committee has been functioning             of Women” established by Global Compact Turkey Board
                                                                                              according to the priorities set up in the leadership of Board of   of Directors are very inspiring in the development of these
                               are the essentials of our Sustainable Development Policy.                                                                         projects.
                            Within the framework of Sustainable Development Policy as                                                                            The Group adopted a new structure for the corporate
                                                                                              While ensuring the coordination of sustainability works,
                            Yaşar Group we share the created value “for a better life”,                                                                          voluntary activities which will directly contribute to the
                                                                                              the Sustainable Development Committee encourages the
                               By “caring for” the “society, our consumers, employees,        implementation of the sustainability strategy, by fulfilling       development of the social dimension of sustainability with the

                               environment, customers and business partners in our            targets and adapting the sustainability approach with in the       understanding of caring for society. Yaşar Volunteers Platform

                               value chain”.

                            18 Yaşar 2015 Sustainability Report                                                                                                                                                                                                Yaşar 2015 Sustainability Report 19
Corporate Reputation Management - Stakeholder Dialogue

                                                                                                                                                                                                                                                                                                                    Methods of Communication with Stakeholders
                                                         Corporate Reputation                                             Stakeholder Dialogue                                             Methods of Communication with Stakeholders
                                                                                                                                                                                           G4-24, G4-26
                                                         Management                                                       G4-24, G4-25, G4-26

                                                                                                                                                                                            Stakeholders                         Communication Platforms                      Communication Frequency
                                                         Corporate reputation management has reached a much               Due to the sectoral necessities of our Group we have
                                                         more strategic point for the organizations with the increasing   established a network which consists of a wide range of                                                Trainings, Yaşar Academy Training
                                                         awareness level of the consumer and the diversification in       stakeholders, where mutual interactions are at its origins..                                           Platform, employee opinions
                                                         the communication channels. Today, new channels rising                                                                                                                  questionnaire, bulletins, internal
                                                                                                                          We are developing long-term collaborations and establishing                                            communication materials,
                                                         over the Internet are added to the traditional communication
                                                                                                                          open communication with our suppliers, shareholders, public       Our Employees                        recommendation systems such as Dyo                 Regular/Frequent
                                                         tools, hence, corporate reputation management found a new
                                                                                                                          institutions and organizations, international organizations,                                           Red Chair practice, competitions, social
                                                         ground for itself.
                                                                                                                          sector associations, NGOs, universities, printed and visual                                            activities such as "Pınar'a Gidiyorum"
                                                         While Internet technologies are developing at an                 media, and especially our employees, customers, consumers                                              (I’m going to Pınar), sustainability
                                                         unprecedented pace, this situation has also resulted in          and business partners. Our stakeholders, with whom we are                                              reports
                                                         conditions which are difficult to manage. The information        in interaction, are engaged with the feedbacks of the relevant
                                                                                                                                                                                                                                 Satisfaction questionnaires, telephone
                                                         flow coming from hundreds of different sources requires the      departments of our companies and taking into consideration
                                                                                                                                                                                                                                 calls, communication and call centers,
                                                         companies to take rapid actions for the sake of reliability of   the sectors, in which the companies of our Group act. We are      Our Consumers                                                                         Continuous/Frequent
                                                                                                                                                                                                                                 social media accounts, sustainability
                                                         such information.                                                regularly reviewing our stakeholder map and communication
                                                                                                                          methods. We believe stakeholder feedbacks as valuable
                                                         Yaşar Group companies, are continuing corporate reputation       guides in the development of our method and processes of                                               Annual reports, sustainability reports,
                                                         management over all channels by taking into consideration        business.                                                                                              CDP Climate Change Report, CDP Water
                                                         the opinions of its stakeholders and integrating the                                                                               Our Investors and Shareholders       Report, investor presentations, general                Regular
                                                         obtained results to the business processes and corporate                                                                                                                board meetings, Internet sites, which
                                                         approach. The Group aims to provide correct information                                                                                                                 also include Investor Relations modules
                                                         to the consumers and customers by taking rapid actions
                                                                                                                                                                                                                                 Supplier trainings, dealer meetings
                                                         for any expectation and needs. Our Group, which has a
                                                                                                                                                                                                                                 and trainings, factory visits, customer
                                                         settled culture in terms of good governance, business
                                                                                                                                                                                                                                 visits, satisfaction questionnaires,
                                                         ethics, corporate values and social contribution, follows a
                                                                                                                                                                                            Our Customers, Suppliers and         participated congresses, meetings and
                                                         communication policy that is based on transparency and                                                                                                                                                                     Regular/Periodic
                                                                                                                                                                                            Dealers                              panels, telephone calls, communication
                                                         reliability under all those headings.
                                                                                                                                                                                                                                 and call centers, dealer portal,
                                                         Different venues which enable the participation of our                                                                                                                  dealer satisfaction questionnaires,
                                                         employees in every step of the corporate reputation efforts                                                                                                             sustainability reports
                                                         are of high importance to our Group companies.                                                                                                                          Visits, legislation opinion notifications,
                                                                                                                                                                                            Public Agencies and Organizations,   sector meetings, congresses,
                                                         Originating from the fact that corporate reputation
                                                                                                                                                                                            NGOs and Associations of             conferences and seminars, developed                Regular/Frequent
                                                         management has to be monitored with a systematic
                                                                                                                                                                                            Membership                           joint projects, sector reports,
                                                         structure, “Corporate Reputation Project” was launched in
                                                                                                                                                                                                                                 sustainability reports
                                                         2010 and Corporate Reputation Committee was established in
                                                         this context.                                                                                                                                                           Press bulletins, visits, press meetings,
                                                                                                                                                                                            Media                                                                                       Regular

                                                                                                                                                                                                                                 Carrier days, conferences and panels,
                                                                                                                                                                                                                                 activities of university clubs and
                                                                                                                                                                                            Universities                                                                                Regular
                                                                                                                                                                                                                                 societies, internship opportunities
                                                                                                                                                                                                                                 provided in the Group companies

                                                                                                                                                                                                                                 Collective Bargaining Agreements,
                                                                                                                                                                                            Union                                union representation, factory visits,                  Regular

                                                         20 Yaşar 2015 Sustainability Report                                                                                                                                                                                  Yaşar 2015 Sustainability Report 21

              Our Group companies believes in co-       Adana Commodity Exchange                 Bursa Chamber of Commerce and            Global Relations Forum                People Management Association of          Turkish Poultry Meat Producers and
              operation depending on deliberation                                                Industry                                                                       Turkey                                    Breeders Association
                                                        Aegean Exporter Unions*                                                           International Chamber of Commerce
              and simultaneous growth with the
                                                                                                 Bursa Commodity Exchange                                                       Professional Association of Musical       Turkish Quality Association*
              stakeholders, which eventually results    Aegean Industrialists and                                                         Isparta Chamber of Commerce and
                                                                                                 Carton Board Packaging                                                         Expositor                                 Turkish Spas Thalasso and Health
              in sustainable values. We therefore       Businessmen’s Association                                                         Industry
                                                                                                 Manufacturers Association                                                      Proffesional Association for Owners of    Resorts Association
              are in cooperation with the sectoral      Aegean Region Chamber of Industry                                                 Istanbu Chamber of Commerce
                                                                                                 Cattle Breeders’ Association of Turkey                                         Musical Works                             Turkish Veterinary Medical Association
              NGOs where Yaşar Group companies          Aegean Region Chamber of Industry                                                 Istanbul Chamber of Industry
                                                                                                                                                                                Proffesional Association of Eligible
              are active and in which we present        Foundation                               Central Anatolian Exporters Union                                                                                        Turkish-African Business Council –
                                                                                                                                          Istanbul Commodity Exchange
                                                                                                                                                                                Producers of Phonograms Related to
              contribution to the local, regional and   Aegean Touristic Business and            Chamber of Agricultural Engineers                                                                                        Foreign Economic Relations Board
                                                                                                                                          Istanbul Mineral and Metals           MUYAP
              sectoral development through these        Accomodation Association                                                                                                                                          Turkish-American Businessmen
                                                                                                 Chamber of Chemical Engineers            Exporters' Association                Pulp and Paper Industry Foundation*
              NGOs.                                     Aliağa Chamber of Commerce                                                                                                                                        Association
                                                                                                 Chamber of Electrical Engineers          Izmir Beef and Lamb Producers
                                                                                                                                                                                Sakarya Chamber of Commerce and           Turkish-Eygpt Businessmen
              Besides mandatory memberships,            Aluminium Surface Treatment                                                       Association
                                                                                                 Chamber of Food Engineers                                                      Industry                                  Association
              such as chambers of commerce, the         Association                                                                       Izmir Chamber of Agriculture
                                                                                                 Chamber of Independent Accountants                                             The Association of Listed Companies’      Turkish-Gulf Business Council
              associations in which we are voluntary    American Business Council
                                                                                                 and Financial Advisors                   Izmir Chamber of Commerce             Executives*
              members of act as equally strong                                                                                                                                                                            TURKTRADE*
                                                        American Turkish Council
                                                                                                 Chamber of Mechanical Engineers          Izmir Commodity Exchange              The Association of Paint Industry*
              formations in the sectors. These                                                                                                                                                                            UN Global Compact (UNGC)
                                                        Ankara Chamber of Commerce
              associations, provide contribution                                                 Chamber of Sworn-in Certified Public     Izmir Industrialists’ and             The Chemicals, Petroleum, Rubber
                                                                                                                                                                                                                          UN Global Compact Turkey
                                                        Ankara Commodity Exchange                Accountants                              Businessmen’s Association             and Plastic Industry Employers’
              to local, regional and sectoral
                                                                                                                                                                                Association of Turkey*                    Union of Dairy, Beef, Food
              development, and have a strategical       Antalya Chamber of Commerce and          Corporate Management Association         Izmir Union of Aquaculture and
                                                                                                                                                                                                                          Industrialists and Producers of
              importance for our Group.                 Industry                                 of Turkey                                Fishery*                              The Institute of Internal Auditing -
                                                        Antalya Commodity Exchange               Çeşme Torism Hoteliers Association       Kemalpaşa Organized Industrial Site   Turkey
                                                                                                                                                                                                                          World Economic Forum
                                                        Association Consumption Outside                                                   Kocaeli Chamber of Industry           The Union of Chambers and
                                                                                                 ÇEVKO Foundation*
                                                        Home                                                                                                                    Commodity Exchanges of Turkey
                                                                                                 Dubai Chamber Of Commerce                Learning and Development
                                                        Association of Advertisers*                                                                                             The Valley of Kağıthane-Ayazağa
                                                                                                 Dubai Turkish Business Council                                                 Urban Development Association
                                                        Association of Cuisine Amicable                                                   Manisa Chamber of Commerce and                                                 *The organizations, in whose board of
                                                                                                 Environment Education Foundation of                                            TOBB Global Standards Center             directors we are involved.
                                                        Association of Family Owned Business                                              Industry
                                                                                                                                          Manisa Organized Industrialists       Turgutlu Chamber of Commerce and
                                                        Association of Infant Food               Eskişehir Chamber of Commerce
                                                                                                                                          Association                           Industry
                                                                                                 Eskişehir Chamber of Industry            Marine Chamber of Commerce            Turkish Economic Association
                                                        Association of Packaged Dairy
                                                                                                 Ethics and Reputation Society*           Mersin Commodity Exchange             Turkish Exporters Assembly
                                                        Products Industrialists*
                                                        Association of Thermal Insulation,       European Business Council                National Food Technology Platform     Turkish Feed Manufacturers’
                                                        Waterproofing, Sound Insulation          European Coil Coating Association                                              Association
                                                                                                                                          National Milk Board
                                                        and Fireproofing Material Producers,     (ECCA)                                                                         Turkish Food and Beverage Industry
                                                                                                                                          National Red Meat Council
                                                        Suppliers and Applicators                European Food Information Council                                              Association*
                                                                                                                                          Nazilli Chamber of Commerce and
                                                        Association of Turkish Construction      Federation of Western Anatolia                                                 Turkish Food Safety Association*
                                                        Material Producers                       Industrialists and Businessmen                                                 Turkish Industry and Business
                                                                                                                                          Organic Product Producers and
                                                        Association of Turkish Travel Agencies   Associations                                                                   Association
                                                                                                                                          Industrialists Association
                                                        Aydın Chamber of Industry                Foreign Economic Relations Board                                               Turkish Investor Relations Society
                                                                                                                                          Packaged Water Manufacturers
                                                        Bar Association                          Foundation of Economic Researches                                              Turkish Marine Environment
                                                                                                                                                                                Protection Association
                                                        Bornova Association of Farmer Assets     Fruit Juice Industry Association         Packaging Manufacturers Association
                                                        Bornova Chamber of Agriculture           Gebze Chamber of Commerce                Paint Research Association

              22 Yaşar 2015 Sustainability Report                                                                                                                                                                           Yaşar 2015 Sustainability Report 23
Ethics and Compliance

                                                                                                                                                                                                                                                                    Ethics and Compliance
                        Ethics and Compliance
                        Corporate Management                                                Executive Officer, is responsible for all execution activities   the investors and the shareholders within the scope of
                                                                                            of Yaşar Holding to the Board of Directors. Furthermore, all     the Legislation on Capital Market. Within the frame of
                        At each stage, during which the companies continue their
                                                                                            processes and responsibilities related with the management       the relevant legislation, the shareholders, the public and
                        activities, a responsibility to the parties, in which they are in
                                                                                            and organization structure are defined in “Yaşar Holding         other beneficiaries are informed in time, in a correct,
                        a relation, occurs. Corporate management, which creates an
                                                                                            Corporate Management Manual” and the business ethics             understandable way and with accessibility under equal
                        understanding among the company management, board of
                                                                                            approach is determined with Yaşar Holding Business Ethics        conditions with the informing policy published on the
                        directors, shareholders and all parties having a connection
                                                                                            Rules Manual and the employees of our Group have to              Internet site of our company, which is created on the basis
                        with the company, is based on the frame of principles such
                                                                                            comply with this Manual.                                         of transparency and accuracy. In this context, the wage,
                        as transparency, responsibility to stakeholders, justice and
                                                                                                                                                             indemnification, profit distribution and donation policies of
                        equality.                                                           “Yaşar Holding Corporate Management Manual” defines
                                                                                                                                                             those companies can be accessed from the Internet sites
                                                                                            the corporate management operation principles and the
                        Corporate management, which is regulated and whose                                                                                   of the companies. On the internet site of Yaşar Holding,
                                                                                            decision-making processes of the Board of Directors and
                        scope is determined with laws ensures an increase in the                                                                             information on the areas of activity of the companies of
                                                                                            the execution, it also determines the authorities and
                        good management practices worldwide. The corporate                                                                                   our Holding is included and detailed information on the
                                                                                            responsibilities of the Board of Directors as well as the
                        management practices in our country are carried out by the                                                                           companies of our Group, which are open to public, can
                                                                                            sub-committees and their roles. The principles of agenda
                        Capital Market Law and the Corporate Management Principles                                                                           be accessed from the “Investor Relations” modules. The
                                                                                            determination and voting in the Board of Directors are also
                        Notification of the Capital Market Board (SPK).                                                                                      corporate management process of our companies, which
                                                                                            included in that Manual.
                                                                                                                                                             are open to public, and the progresses obtained within such
                        Yaşar Group reflected the corporate management                                                                                       process, are submitted to all stakeholders and the public with
                                                                                            Various systems have been established in order to allow our
                        understanding, which it assumes to be a very important                                                                               the Corporate Management Principles Compliance Reports,
                                                                                            employees make recommendations or give advices to the top
                        factor for the sustainability of its companies, to all its                                                                           which are prepared within the frame of Capital Market
                                                                                            management of the company.
                        activities together with its vision and prediction from the                                                                          Legislation and which are included in the annual activity
                        past to today, its deep-rooted and strong corporate values          Auditing Sub-Committee, Early Risk Detection Sub-Committee       reports.
                        and culture, ethics understanding, compliance with the laws         and Corporate Management Sub-Committee carry out
                        and legislation. In the Group, it is targeted to manage the         their activities in affiliation to the Board of Directors of     The Committee for Auditing, the Committee for the Early
                        interests of all beneficiaries in the best way. The corporate       Yaşar Holding, which consists of 6 members. There are            Detection of Risk and the Corporate Management Committee,
                        management structure adopted in Yaşar Group is being                two independent members in the board of directors of the         are included in the companies of Yaşar Group, and are
                        continuously reviewed within the frame of the Corporate             companies of Yaşar Group, which are open to public. Those        open to public, have been established within the frame
                        Management Principles. These principles were published              independent members comply with all independence criteria        of the Capital Market Legislation together SPK Corporate
                        by SPK in 2003 and then revised in 2005, also with the              included in article 4.3.6 of the Corporate Management            Management Principles; and the Candidate Presentation
                        amendment made in 2011, many provisions have become                 Principles, which is in the attachment of SPK’s II-17.1          Committee and Wage Committee have been structured within
                        obligatory for the companies publicly traded. SPK Notification,     Corporate Management Notification.                               the Corporate Management Committee.
                        which was updated at the beginning of 2014, re-regulated the
                                                                                            Furthermore, in four of our companies, which are open to         Yaşar Holding, which has taken important voluntary steps
                        Corporate Management Principles and finalized them.
                                                                                            public, there are two female members of Board of Directors       about the application of best management approaches
                        In 2015, the corporate management grades of Pınar Dairy,            and there is one female member of Board of Directors             starting from the dates, when corporate governance
                        Pınar Meat and Pınar Water, which are included in Borsa             in other two companies. This situation is an indicator of        principles were not on the agenda in Turkey, manages the
                        İstanbul Corporate Management Index, were revised upwards           our compliance with the Corporate Management Principle           “Corporate Reputation”, which has been created as the result
                        reaching 9,18, 9,20 and 9,37, respectively.                         numbered 4.3.9, which is not obligatory. Furthermore,            of long years, and continuous creating sustainable for its
                                                                                            committees required by the legislation are also established      stakeholders and on a wider sense for the society with its
                        The responsibilities of the Executive Chief Office and the                                                                           affective and proactive applications.
                                                                                            within the Board of Directors.
                        Board of Directors of Yaşar Holding are separate which is in
                        compliance with OECD Corporate Management Principles.               In all companies of our Group, which are open to public,
                        The Chairperson of Board of Directors does not have any             Investor Relations Department is established in order to
                        executive duties in the company, and Yaşar Holding Chief            ensure a healthy and reliable communication between

                        24 Yaşar 2015 Sustainability Report                                                                                                                                                                   Yaşar 2015 Sustainability Report 25
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