In this episode of Invest in Türkiye Talks, we explore the inspiring journey of Şafak Müderrisgil, the newly elected President of the Turkish Tennis Federation and Executive Board Chair of EYDK—Türkiye's pioneering platform for impact investing. Müderrisgil shares her unique perspective on integrating social and environmental goals into the investment landscape, highlighting the transformative potential of impact investing in Türkiye.
Müderrisgil's journey into impact investing began during her decade-long stay in Oxford, UK, where she pursued public policy studies at Oxford University following a successful career in law. This period coincided with the global rise of concepts like social entrepreneurship and sustainable finance, further accelerated by the adoption of the UN's Sustainable Development Goals (SDGs) in 2015. Realizing Türkiye's absence in these critical conversations, Müderrisgil made it her mission to introduce impact investing to her home country. “On March 23, 2020, I Googled 'impact investing' and 'Türkiye,' and the result was zero. That day, I decided to take action," she recalls.
Upon returning to Türkiye, Müderrisgil established Etkiyap as a nonprofit organization in April 2020, aiming to raise awareness and build capacity around impact investing. The initiative quickly gained traction, attracting interest from both domestic and international stakeholders. This momentum led to the creation of the Impact Investing Advisory Board (EYDK) in 2021, positioning Türkiye on the global impact investing map as a national partner of the Global Steering Group for Impact Investment (GSG).
Müderrisgil emphasizes that impact investing goes beyond traditional financial objectives. It incorporates three key elements: intentionality, alignment with the SDGs, and measurable outcomes. “It is not just about minimizing negative impacts, as seen in ESG investments, but actively creating positive social and environmental value," she explains. This paradigm shift is essential for addressing critical challenges such as climate change, inequality, and sustainable development.
Etkiyap's work has already begun to bear fruit. Notable milestones include Türkiye's first social impact bond in 2023, developed in collaboration with local and international partners. This project focused on providing training and employment opportunities for women and girls with disabilities in Gaziantep, ultimately leading to the formation of Türkiye's first amputee women's football team. Such initiatives underscore the potential of impact investing to address societal challenges while fostering economic growth.
Müderrisgil also highlights key areas for impact investing in Türkiye, as outlined in reports by the United Nations Development Programme (UNDP). These include renewable energy, women's empowerment, financial inclusion, refugee livelihoods, and health tech. According to Müderrisgil, “With the right mobilization of private sector capital, Türkiye can significantly contribute to global sustainability goals."
Globally, impact investing is gaining momentum, with assets under management reaching USD 1.6 trillion in 2024, according to the Global Impact Investing Network (GIIN). While still in its early stages, Türkiye is making significant strides. The country's dynamic workforce, robust regulatory environment, and growing awareness of sustainability are key drivers of this progress.
Looking ahead, Müderrisgil envisions a thriving ecosystem where impact investing becomes a cornerstone of Türkiye's economic strategy. Ongoing projects—such as a second social impact bond and initiatives supporting women entrepreneurs—reflect this commitment. “The future of impact investing lies in collaboration between the public and private sectors, academia, and civil society," she asserts.
As Türkiye continues its transition toward a more sustainable and inclusive economy, leaders like Şafak Müderrisgil play a pivotal role in shaping this journey. By championing impact investing, she is not only addressing immediate societal needs but also laying the groundwork for long-term resilience and growth. This approach demonstrates that financial success and social progress are not mutually exclusive but deeply interconnected.