Machine Translated by Google Machine Translated by Google Contents Why We Prepared This Guide 1 What Should We Know? 5 Sustainable Development 5 Corporate Sustainability 5 Corporate Management 8 Stakeholder 9 Ethical values 10 biodiversity 11 Karbon Ayak ÿzi 11 Corporate Social Responsibility 11 Milestones in Sustainability 13 Why Sustainability? 15 Contribution of Sustainability to Companies 17 Sustainability for Investors 21 What is Responsible Investment? 21 Do You Have a Sustainability Strategy? 23 Sustainability in Four Steps 24 Step 1 – Share Your Vision 24 Step 2 - Analyze 25 Step 3 – Develop a Strategy 27 Step 4 – Apply 29 Sustainability Reporting 33 Reporting Frameworks 35 The Role of Stock Exchanges in Sustainability 36 Application Examples from Turkey 37 BIST Sustainability Index 43 What are the Expected Contributions from the Index? 45 An Opportunity for New Investment Instruments 45 The information and data in this publication have been prepared for general information purposes only. Although due Sustainability Platform 46 care has been taken to ensure the accuracy of the information contained in this publication, Borsa ÿstanbul is not responsible for errors in the information and data, or investment decisions to be made and their consequences. Because the information here is not intended as an investment offer or recommendation. The examples in this Who is a Member of the Platform? 46 publication are for illustrative and educational purposes only. What are the Responsibilities of Member Organizations? 46 Recycled paper is used in this document. Machine Translated by Google abbreviations CDP: Carbon Disclosure Project COP: Communication on Progress ER: International Integrated Reporting ESG: Environmental, Social, Governance (Environmental, Social, Governance) GRI: Global Reporting Initiative IIRC: International Integrated Reporting Council. Reporting Council) ILO: International Labor Organization SSE: Sustainable Stock Exchanges Initiative UNGC: UN Global Compact UN PRI: UN Principles for Responsible Investment) Machine Translated by Google Recycled paper is used. Why did we prepare this guide? Evaluating the performance of companies The current period is witnessing a It will be possible with the understanding only by considering their financial performance global transformation process in of protecting the quality of life. Therefore, which companies are expected not for a sustainable development, social and can be likened to driving a car by only looking only to achieve financial success through environmental dimensions need to be in the rear view mirror. the production and sale of goods and taken into account besides the financial services, but also to be good corporate point of view, which necessitates long- citizens sensitive to the environment and term approaches. It is clear that short-term people, and to adopt good corporate and profit-oriented approaches are governance practices as a principle. unsustainable in the long run and such approaches will also receive a reaction The concept of sustainability is from the society. As a reflection of the process, it has been frequently on the agenda of companies and investors lately. For all these reasons, corporate takes. sustainability, which can be expressed as the observance of economic, Concepts such as corporate sustainability, environmental, social and corporate corporate social responsibility and governance factors in the company responsible investment have become an administration as a whole, and the effective important part of the agenda of management of risks and opportunities In addition to economic gains and investors now consider related to these factors. performance, social and environmental sustainability factors. governments, business circles, non- governmental organizations and academics approach should be adopted and classic performances are added to the company capital market regulators and in recent years. The important problems business models should be changed. valuation criteria, and the success of stock exchanges have carefully focused we face today such as global warming, companies in the process of managing on the subject; companies have started loss of biodiversity, rapid depletion and This is a period in which everyone is opportunities and risks arising from to take various initiatives to spread the pollution of resources, hunger, poverty, on the same boat and social interests economic, environmental and social awareness of sustainability among investors discrimination, human rights violations are at the forefront rather than individual developments becomes an important and society. and corruption push humanity to seek a interests. criterion in the company selection of investors. Importance of the concept of sustainability new order. The awareness of being responsible not only to one's own In this new era, where it is generation but also to future generations not possible for companies to operate In this context, as Borsa ÿstanbul, we have is accepted by all segments of society. independently of the expectations of Making the world more livable by fulfilling their stakeholders, company value has considered it our duty to prepare this the responsibilities towards future also begun to be determined according Sustainability Guideline for all companies generations can only be achieved by the to different criteria reflecting the social whose capital market instruments are or have environment and people. interest. the potential to be traded on our Exchange. With this guide, we aimed to answer our companies' questions about sustainability and to present them with a roadmap they can follow. 1 2 Machine Translated by Google Recycled paper is used. in this guide explanations about the basic concepts that you may encounter in the field of sustainability, the competitive advantages it provides to companies, the milestones in sustainability and the concepts of responsible investment, suggestions on how you can incorporate sustainability into your business processes and application examples from our country, While providing information on the importance of sustainability reporting and different reporting frameworks, The role of stock markets in sustainability and About our stock market sustainability index informations are available. 3 4 Machine Translated by Google Recycled paper is used. What Should We Know? Environmental Sustainable Development… Natural Resource Use Environmental Management Contamination Prevention (Air, water, soil, waste) Sustainable Development, with its most widespread use, is to meet the needs of present generations without compromising the ability of future generations to meet their own needs. Environmental Social-Environment Environmental Justice Economy Corporate Sustainability… Locally and Globally Energy efficiency As Natural resources Natural Resources in use protector Subsidy We can define Corporate Sustainability as the consideration of economic, Incentives environmental and social factors in company activities and decision mechanisms, Sustainability together with corporate governance principles, and the effective management of risks associated with these factors, in order to create long-term value in companies. Social Economic Companies can achieve real success when they consider sustainability practices Life standard Economic Snow Education Saving not as a burden, but as a set of resources, expertise, opportunities and innovations Social Community Consciousness Economic Growth that all stakeholders benefit from. Equal Opportunity Business Ethics Research and development Fair Trade Workers Rights In addition to the economic dimension of sustainability, there are environmental, social and corporate governance dimensions, and all of these must be considered as a whole and integrated into decision mechanisms for a correct sustainability strategy. A company takes concrete steps towards sustainability; By fully adopting and realizing transparency, fairness, accountability and responsibility, which are the Recently, there are many companies that have made it a basic principles of corporate management, by using technologies that pollute policy to share the environmental and social dimension the nature less during production, by prioritizing the awareness of protecting the of their activities with the public, as well as the economic environment at all levels of the company, by delivering healthy products to the dimension. While 70% of the publicly traded companies consumers who are the end users of the products, working conditions of the worldwide report in the field of corporate responsibility, it employees. by improving and establishing the necessary ethical rules, by saving is seen that 95% of the multinational companies in the energy in production and operating processes or by increasing energy efficiency Global Fortune 250 list and located in 34 different or by developing innovative products. As can be seen, the examples here are countries publish their activities and results in employee steps that can be included in the process of running the activities of any company rights, environment and stakeholder relations together from all sectors. A common misconception about sustainability is to reduce with their annual financial reports. . Multinational sustainability to just "philanthropy". For example, although it is beneficial for a companies carry their corporate responsibility practices company that pollutes the environment with its production to plant trees, it will not to their local networks, thus contributing to the formation be as effective and sustainable as the company's finding a solution that will not of a social responsibility culture in other stakeholders harm the environment in its production processes. associated with these companies. 5 6 Machine Translated by Google Recycled paper is used. Corporate Management… corporate governance; It refers to the whole of the relations between the company management, the board of directors, the shareholders and other parties related to the company. The main principles of corporate governance; fairness, transparency, accountability and responsibility to all relevant parties. The international corruption scandals that emerged due to examples of bad management around the world made it necessary for corporate governance to be included in the law. In our country, the principles regarding corporate governance are regulated by both the Capital Markets Law and the Corporate Governance Principles Communiqué of the Capital Markets Board and the principles in its annex. It is aimed that mechanisms such as independent board membership brought by the regulations on corporate governance and high standards in terms of shareholding rights and public disclosure are an incentive to expand the financing opportunities of our companies from the capital markets by attracting domestic and foreign individual and institutional investors to the markets. Within the framework of the Capital Markets Board regulations, within the Board of Directors for companies traded in our Stock Exchange; It has become obligatory to establish the Corporate Governance Committee, Early Detection of Risk Committee and Audit Committee, and to elect all members of the Audit Committee and the chairmen of other committees from among the independent members of the board of directors. On the other hand, in accordance with the Corporate Governance Communiqué, two more committees, namely the Nomination Committee and the Remuneration Committee, have been defined within the companies, and it is not obligatory to form these committees in companies. Duties of these committees are fulfilled by the Corporate Governance Committee. Establishment of Shareholder Relations Units in order to ensure that companies traded in Borsa Istanbul carry out their relations with their stakeholders is one of the arrangements made. It is aimed that the boards of directors of companies are in close cooperation with the Corporate Governance Committee and the Shareholder Relations Unit in maintaining effective communication between the company and its shareholders, and in resolving and resolving any conflicts that may arise. 7 8 Machine Translated by Google Recycled paper is used. Stakeholder… Ethical values… Today, all parties affected by or capable of influencing the behavior of Today, the expectations of systems related to practices such as the a company are considered as stakeholders. consumers, investors and sanction process and risk-based is described. Stakeholders expect companies to be transparent and company stakeholders from valuation can be established. Reporting accountable because they are groups or individuals who benefit from companies are that they behave the fight against bribery is another aspect or are harmed by the company's activities, whose rights are protected or fairly and honestly in their activities of the process. Transparency can be violated by these activities. and in their relations with their increased through activities such as competitors, customers, suppliers reporting the scope of the anti-bribery and partners, leading to unfair competition. policy to the personnel and business Government whatever causes partners, reporting the training given to avoiding the application, fully the personnel, and reporting the company's complying with legal and administrative monitoring and audit systems in detail. Employees regulations, as well as adopting Investors internationally accepted universal values. Similarly, companies are Companies that prioritize ethical expected to establish policies and values both gain prestige and systems for human rights and contribute to sustainability by report in this area. Policy Civilian Company increasing social and economic Society The Universal Declaration of Human benefits and creating more added Organizations customers value. Rights can be taken as a basis in the The importance of ethical and moral values creation, and a start can be made with has depended on ethical values in the past. steps such as complying with the some decisions without standards of the International Labor better understood thanks to giant Organization (ILO), signing the United companies whose reputation was destroyed dueNations to (UN) Global Compact (UN are available. Global Compact, UNGC), assigning the unions suppliers responsibility to the senior management. Fighting bribery and human rights In terms of systems, practices such as topics come to the fore in ethical training the personnel in this area, values. Companies should develop an determining and announcing the anti-bribery policy and acquire systems procedures to be followed in case of non- for this. For example, policies can be compliance with the policy, and regularly Stakeholders, who benefit from or are harmed by the company's created with regulations such as prohibiting reviewing the policy can be implemented. activities; groups or individuals whose rights are protected or bribery, compliance with laws and violated by these activities. regulations, limiting the giving and receiving System outputs should also be of gifts, and commitment at the Board of reported regularly. Directors level. Personnel training, corruption reporting procedure, 9 10 Machine Translated by Google Recycled paper is used. biodiversity Biodiversity emphasizes the complex relationships of all beings in nature with each other and with their environment, and encompasses all of the genes in a region, the species that carry these genes, the ecosystems that host these species, and the processes that connect them. Undoubtedly, in order for people to survive, there must be clean water and air, fertile soil, nutrients and various materials that they can use and meet in their environment. Biodiversity benefits from many different aspects such as cleaning air and water, preventing erosion, biological control of diseases. offers. Karbon Ayak ÿzi A carbon footprint is a measure of the environmental damage caused by human activities in terms of the amount of greenhouse gases produced, measured in units of carbon dioxide (CO2). Carbon footprint consists of two parts, direct and indirect footprints. The direct footprint is the direct CO2 emissions from the combustion of fossil fuels, including domestic energy consumption and transportation (motor vehicles such as airplanes, automobiles), while the indirect footprint is the indirect CO2 emissions from the entire life cycle of the products we use, related to their manufacture and eventual degradation. is the size. Corporate Social Responsibility According to the European Commission, Corporate Social Responsibility is a concept that companies voluntarily integrate social and environmental issues into their operations and relationships with their stakeholders, while according to the World Business Council for Sustainable Development, this concept is embraced by the business world for their employees, their families, the public and the entire community. It is defined as a promise made to raise the living standard of the society and contribute to economic development. 11 12 Machine Translated by Google Recycled paper is used. Milestones in Sustainability 2000 - UN Global Compact (UN Global Compact, UNGC) 1972 - Stockholm Conference The Global Compact Initiative, created in 2000 with the support of world leaders in order to spread a common global development culture, is an initiative of The concept of Sustainable Development first came to the fore as an attempt to find thousands of companies from all over the world, international working a middle ground between the concerns of developed countries on the environmental and non-governmental organizations, it works to ensure that 10 universal consequences of global development and the needs of developing countries for their principles are fulfilled in line with the common vision, purpose and values. Borsa own economic development during the United Nations Stockholm Conference held ÿstanbul started supporting this Initiative in 2005. in Stockholm-Sweden in 1972. has begun. 1987 - Brundtland Report: “Our Common Future” 2005 - UN Principles for Responsible Investment (UN PRI) Initiative Sustainable development was defined in the report "Our Common Future", also known as the Brundtland Report, published by the UN in 1987, as Formed by 20 large institutional investors from 12 countries, who came together "meeting the needs of the present without compromising the ability of future with the invitation of the UN Secretary General in 2005, and today has more than generations to meet their own needs". 1200 signatories around the world, it encourages environmental, social and corporate 1 governance issues to be taken into account in investment analysis and decision- making processes. It is a platform that has published principles regarding Borsa ÿstanbul has been a signatory of this Initiative since 2010. 1992 – Rio Summit The UN Conference on Environment and Development, also known as the Rio Summit, held in Rio, Brazil 2009 - Sustainable Stock Exchanges Initiative It has gone down in history as the most important event where the problems of (Sustainable Stock Exchanges Initiative, SSE) change 116 of 172 governments attended the summit at the highest level, 2400 non- With the cooperation of stock exchanges with investors, regulators and companies, it governmental organizations participated with 17 thousand people. The summit had is aimed to increase corporate transparency and performance in environmental, social outputs such as the Framework Convention on Climate Change, the Convention on and corporate governance issues and to develop sustainable investments. Biological Diversity and the UN Convention to Combat Desertification, and these It is a UN-funded initiative that explores how they can contribute. conventions were opened for signature.2 The initiative gained a different dimension in 2012 with the voluntary commitment made by five exchanges, including Borsa ÿstanbul, to raise awareness on sustainability in their markets. In the following period, many different exchanges were also included 1997 – Kyoto Protocol in the initiative. The Protocol signed in Kyoto, Japan is the UN Framework Convention on Climate Change. Countries that signed this Protocol make certain commitments to reduce carbon dioxide and five other greenhouse gas emissions. The Protocol 2012 – Rio+20 Summit entered into force in 2005 with the participation of Russia. Turkey, on the other Rio+20 UN Conference on Sustainable Development was also held in Rio on the hand, signed the aforementioned Protocol in 2009.3 20th anniversary of the UN Conference on Environment and Development held in 1992 in Rio de Janeiro, Brazil. The report titled “The Future We Want” was presented to the public as the output document of the summit.4 1997 - Global Reporting Initiative (Global Reporting Initiative, GRI) GRI, which was created by the Environmentally Responsible Economies Coalition 2013 – International Integrated Reporting (ER) Framework The in the USA and the Tellus Institute with the support of the UN Environment International Integrated Reporting Council (IIRC) published the “International Program, published its Sustainability Reporting Guide for the first time in 1997. Integrated Reporting (ER) Framework” in December 2013. Sustainability reports are prepared in order for organizations to be more sustainable and contribute to sustainable development. 1 http://yosemite.epa.gov/r10/oi.nsf/Sustainability/History 2 conducts encouraging activities. “Digital and Sustainable”, EkoIQ 3 United Nations Framework Convention on Climate Change 4 The Future We Want, 2012 13 14 Machine Translated by Google Recycled paper is used. Why Sustainability? Now the days when only profit maximization is targeted for companies left behind. In the new world order, it is expected to establish a "win-win" relationship in which the purpose of making profits of companies can be parallel to social interests. In other words, companies now have responsibilities not only to company partners but also to all stakeholders. It is not possible for businesses that invest in the future without evaluating the expectations of their stakeholders, ignore the environmental, social and corporate governance risks and focus only on economic sustainability, to maintain or increase their competitive power in today's conditions. Today, stakeholders expect companies to be responsible legal citizens and demand more information and transparency regarding the methods by which the company creates added value. When the sectoral growth trends in the world are examined, it will be seen that wind energy in the energy sector, eco-tourism in the tourism sector, socially responsible investments in the field of investment and organic agriculture in agriculture are the fastest growing fields.5 In the research of the UN Global Compact, based on the opinions of the senior executives (CEOs) of 766 companies operating in various countries of the world in 2010, the most effective factors that direct companies to sustainability policies are, respectively, brand value, ensuring trust and reputation, increasing profitability along with cost savings, it has been revealed that there are attracting qualified workforce to the company, increasing the motivation of the employees and consumer demands. 5 The Business Guide to Sustainability, Hithcock D.&Willard M., 2009 15 16 Machine Translated by Google Recycled paper is used. of sustainability contributions to companies Rising brand value Increased corporate Reputation Attracting a skilled workforce medium and long term reduced costs new job opportunities Easier access to capital Innovative product and service development Company his life extension 17 18 Machine Translated by Google Recycled paper is used. Therefore, companies' focusing on sustainability in their production and activities Ensuring brand value, trust and reputation will make them one step ahead in the eyes of consumers. On the other hand, as Companies that internalize sustainability and integrate it into their activities and the awareness of sustainability in the consumer segment increases, some products share it transparently with the public create a positive impression in society and non- or the raw materials used in their production will be labeled as “good” or “bad” in the governmental organizations, thereby increasing their reputation and brand value. consumer perception, and the products will be shaped according to this perception. Reputation, one of the most valuable assets of companies, acts as a shield that protects For example, after PVC was declared as the worst plastic by Greenpeace, some the company in crisis situations. companies started not to use PVC in their products. While positive sustainability practices contribute to brand value and reputation, companies' ignoring the possible negative social and environmental effects of Creating new business opportunities and innovation opportunities these activities while carrying out their activities will irreparably damage the brand, Involving stakeholders in business processes with a sustainability understanding trust and reputation, which has been tried to be strengthened over the years, and and getting feedback on activities from different groups can contribute to discovering thus the value of the company. For example, a company that manufactures and sells new products, processes and markets. A sustainability perspective and seeking sporting goods around the world has lost its credibility in the eyes of the public solutions for it will inevitably open the door to creative thinking and innovations. because it continues to work with the same suppliers despite the poor working When the innovation studies in the world are examined, it is seen that green conditions in the supply chain or does not take steps to improve the conditions there, innovation is at the forefront and many institutions apply this method to survive in the and the price of the company's shares traded on the Stock Exchange has been adversely long term. Just like producing higher energy-saving white goods or producing hybrid affected. This situation pushed the company to take steps on sustainability. cars by taking into account the demands of consumers… Undoubtedly, such innovative approaches will provide companies with a competitive advantage in their sectors. Increased profitability with cost savings Easy access to capital With the The company's profitability and efficiency increase, as costs will be lowered by increasing importance of sustainability practices, financial institutions have improvements such as lower energy consumption, reduced raw material waste, and increasingly started to adopt the “sustainable finance” approach. Now, financial waste disposal costs that come with the environmental dimension of sustainability. institutions also consider social and environmental criteria when choosing companies to direct their investors, evaluating projects or granting loans. Attracting qualified workforce to the company and increasing employee motivation In this period when companies compete to attract qualified workforce, companies Effective risk management that have adopted sustainability practices come to the fore. These companies have Companies need to adapt quickly to social conditions and needs and reduce their higher prestige in the eyes of qualified employees. Today, qualified employees capital costs by effectively managing economic, social, environmental and corporate prefer to work in companies that match their personal values. This prestige is a governance risks. Companies that have integrated sustainability into their business factor that increases the loyalty of current employees to the company. Human models manage these risks pro-actively and effectively, thus adapting to changing resources policies developed with the understanding of sustainability also increase conditions more easily and quickly. The fact that companies make their business both the commitment and motivation of the employees to the company. plans by considering climate change, water and raw material scarcity, toxic wastes, depleted coal, oil and natural gas resources, which are risk factors whose social and environmental effects are undeniable today, will increase the effectiveness of risk management and companies will be one step ahead of other companies. will prevent Consumer demands it. Sustainability contributes to the understanding of the expectations of the consumers as well as all the stakeholders of the companies. Goodpurpose6 made in 2012 The study, entitled Sustainability, has revealed that the issue of sustainability has also become important for consumers and that consumers' expectations from Extending the life of the company companies are gradually increasing. According to this study, 72% of the Corporate governance is an important pillar of being a sustainable company. High participants stated that they expect companies to protect the environment and corporate governance quality; low capital costs mean increased financing opportunities protect nature. Consumers are now paying more attention to what the products they buy contain. and liquidity, easier recovery from crises, and a longer life expectancy of well-managed companies. 7 6 The UN Global Compact-Accenture CEO Study on Sustainability 2013 7 Deloitte Investor Relations Handbook, 2008 19 20 Machine Translated by Google Recycled paper is used. Sustainability for Investors 1. Consideration of ESG issues in investment analysis and decision-making processes, What is Responsible Investment? 2. Investors' active ownership of ESG issues and incorporating these issues into the policies and practices of their own partnerships, 3. Requesting the invested institutions to be transparent in their public Responsible Investing is the efforts of investors to make investment decisions with a statements regarding ESG issues, sustainability understanding and to encourage companies to develop sustainability 4. Promoting the application of these principles, practices.8 In other words, institutional investors consider environmental and social 5. Collaborating with other participants in order to increase the effectiveness of costs as well as financial returns in the countries/sectors/companies to be invested in, applying the principles, and ensure the healthy functioning of the market and long-term sustainability. It is an 6. Investors reporting on their work and progress in implementing the principles. approach preferred by companies that prioritize these principles for their long-term stability. Responsible Investing requires fully accepting the view of the risks and opportunities of investments at the stage of allocation of funds to investment areas in line with the short- The fact that institutional investors consider ESG principles in their and long-term interests of customers and other beneficiaries of the investments. portfolio investments directs companies to activities in line with sustainability Responsible investing differs from traditional investment approaches in two ways: principles. As investors invest in companies that prioritize sustainability principles, the value of these companies increases. 1. The time frame is important. The aim in investing is to create a sustainable As of the end of 2012, $1 of every $9 professionally managed in the USA is and long-term return on investment, not just short-term returns. invested in accordance with sustainable and responsible investment strategies. 2. Responsible investment requires consideration by investors of broader As of the end of 2012, the amount of funds directed to responsible investments factors, including the healthy functioning and stability of economic and reached US$ 3.74 trillion. This amount is more than three times the US$ 1.18 trillion in environmental systems, and the evolving values and expectations of society. 1997 and is increasing. These funds, which invest within the scope of sustainable investment strategies, reached 11.3% of the total US origin investments. In addition, the number of funds investing in accordance with responsible investment principles Within the framework of the above-mentioned issues, international investors investing reached 720 as of the end of 2012, which is five times the number of funds in 1997. in various sectors in developed or developing countries are moving away from the traditional understanding of making short-term profits and heading towards areas where they can achieve sustainable and long-term gains. These investors prefer to invest in companies that have adopted the sustainability approach. For this reason, it is important to adopt a sustainability approach in terms of both contributing to the increase in the value of companies and maintaining their profitability. The concept of responsible investment should not be thought of as merely investing with respect for the environment. Responsible investment should be expressed as investments that prioritize social factors and corporate governance practices as well as environmental factors. Therefore, it can be said that responsible investments are made on the basis of ESG (Environmental, Social, Governance) factors, which is abbreviated by the abbreviation of the English abbreviations of environmental, social and corporate governance concepts. The Principles for Responsible Investment were developed by a group of international institutional investors to reflect ESG's growing presence in investments. The United Nations Secretary-General led the process9 and the Responsible Investment Principles, which are widely accepted in the world, It has been determined by the Nations Responsible Investment Principles Initiative (UN Principles for Responsible Investment, UNPRI) to consist of the following six items. Investors who sign the initiative undertake to invest within the framework of 8 these principles. Best Practice Guidance for Policy Makers and Stock Exchanges on Sustainability Reporting Initiatives, United Nations Conference on Trade and Development, 2013 9 United Nations Principles for Responsible Investment, 21 http://www.unpri.org/viewer/?file=wp-content/uploads/1.Whatisresponsibleinvestment.pdf, 2012 22 Machine Translated by Google Recycled paper is used. Do You Have a Sustainability Strategy? Sustainability in Four Steps As Borsa ÿstanbul, we aimed to guide companies that want to integrate We can say that the current sustainability practices in the world are gathered in two sustainability into their institutions with this guide. The suggestions regarding main groups: Companies with sustainability as a starting point and companies that the processes presented below will shed light on our companies in their have integrated sustainability into their institutions. Companies whose starting point is sustainability journey. However, considering that each company has different business models, companies will need to adapt these processes to their own sustainability were established to find solutions to environmental and social problems. structures. Companies that incorporate sustainability into their decision-making mechanisms and production processes aim to mitigate the negative environmental and social impacts Step 1 – Set Vision and Policy of their activities.10 A vision based on sustainability principles draws new goals and targets for the company. What matters is not how the vision is expressed, but the passion and While determining your sustainability strategy, you can consider the following participation it creates. Ensuring the participation of company employees while prominent features of sustainable companies. determining the vision ensures that the vision is internalized within the organization as well. People are committed to the visions they helped create or reshape. 1. Radical Resource Productivity: Sustainable companies increase their efficiency by 5, 10 or 100 times, ensuring that natural resources are used for a longer period While determining your vision, and accordingly your goals and policy, you of time. should evaluate the following sustainability issues in terms of the opportunities and 2. Ecological Redesign: Sustainable companies use closed-loop risks they create. production systems. In this way, the wastes and garbage generated in production are seen as a resource and used. Energy and climate change 3. Service and Flow Economy: Sustainable companies prefer to sell services rather than products. Instead of selling the product, they provide rental services and when the product's life is over, they take it back from the customer and recycle it or use it in production again. Food and water scarcity 4. Investment in Natural Capital: These companies consider the needs of the society and renew and grow their ecosystems in this direction. 11 waste and pollution poverty and social injustice 12 Ethical values Corporate Management 10 CSR Consulting, EkoIQ 2012 11 The Sustainability Champions, Willard B., 2009 12 The Sustainability Champions, Willard B., 2009 23 24 Machine Translated by Google Recycled paper is used. Step 2 - Analyze Before taking any steps regarding sustainability, first determine where your company stands in sustainability. Identify your core activity, its inputs, the factors and outputs that affect your activities, and the effects of these outputs. Position each of these against sustainability and question “can it be better?” in this sense. Also, compare yourself to companies that are successful in sustainability and try to take examples from their practices. Examine which sustainability issues stand out in your industry, what opportunities and risks exist. For example, consider the raw materials you use in production as an input group. Let's say you are a tomato paste producer: Can you say that you source your raw materials from sustainable, green or socially responsible sources? If your answer is no, then you can take a step towards sustainability by using tomatoes produced with sustainable farming methods or buying these tomatoes from a company that provides good working conditions for its employees. Or if you are a business that uses cardboard packaging boxes, how about using boxes made of 100% recyclable paper? As an output group, consider your waste. Is your waste reusable or recyclable? Are there any steps you can take to gain this feature? How would you like to look at your company from a corporate management perspective? How compatible are you with the Corporate Governance Principles? Beyond complying with the mandatory principles determined by the CMB, are there any recommendations that you can put into practice? In addition, identify your sustainability risks, opportunities and constraints. In this process, research which sustainability aspects are most relevant to your company. For example, review your environmental impacts. While doing this, constantly monitor trends in your industry, the trends of your customers and society, changes in your physical conditions and even demographic factors. 13 13 The Sustainability Champions, Willard B., 2009 25 26 Machine Translated by Google Recycled paper is used. Step 3 – Develop a Strategy and Draw a Roadmap Now that you have determined your vision in the first step and where you are in Do not forget that you, as the top managers of the company, must show sustainability in the second step, you can start working towards achieving your your commitment and support to all your colleagues during all these vision. Leadership is the capacity to turn vision into reality. processes. Most of the time, just verbalizing and giving periodic messages on this issue will not be enough. Because what you say will only have some effect on it. Your working style and your actions should be in harmony with What you need to do at this stage is to determine the distance between you your words and should convey that you have adopted this new understanding and the vision you are trying to reach by evaluating the results at the end of and that you are taking care of it. By closely following the work of the teams the analysis process in the second step. Then decide where to start. Identify you have created, by choosing to use teleconferences instead of frequently the sustainability issues that stand out about your company, in other words, going on business trips, by using the most fuel-efficient car, by taking that may have high leverage. In other words, what is the sustainability measures to encourage public transportation, by encouraging your staff element that you can start the fastest, get the fastest results and ultimately working on sustainability-related projects, and by ensuring that they participate contribute the most to your company? Is it your environmental impact, energy in trainings and conferences on this subject. You can do. consumption, carbon emissions, waste and packaging management, corporate 15 governance, employee rights? Are you going to go to the market with a new product for this, can you make changes in your existing structure regarding corporate management, are there different ways to evaluate your waste, etc.? After choosing the starting point, choose the people who will support you on the path of sustainability and enable you to reach your goal. Try to establish the best organizational structure for this. For example, you can designate one or more people as the “sustainability coordinator or leader” responsible for sustainability studies, as most international companies do. Ideally, these people should report to senior management. The ownership of sustainability-related activities by the senior management is important for its success. For this reason, it would be beneficial to follow up the issue at the general manager or board of directors level. Approval of the vision and strategy put forward by the board of directors is also of great importance in terms of implementation. Another common structure is the establishment of an executive committee that will manage, coordinate and lead the sustainability studies. Both directors and committees can form a team to work on special projects (eg, conducting certification research, determining sustainability-compliant purchasing policies or redesigning production processes, etc.). Or in some cases, teams specific to certain sustainability elements such as energy team, raw material team, product team, waste team can be formed. No matter what kind of structuring, your next step should be to determine your new strategies, action plans and success criteria on a unit basis together with this person or people. In order to strengthen the factors that contribute to the sustainability vision and to prevent the factors that slow down the process, you must decide who, when and which tasks will be performed. 14 14 The Sustainability Champions, Willard B., 2009 15 The Business Guide to Sustainability, Hithcock D.&Willard M., 2009 27 28 Machine Translated by Google Recycled paper is used. Step 4 – Apply The sustainability team you create within the company will be effective in mobilizing Finally, let's review with examples what you can consider in practice as a service or the units and employees in the company. For this reason, let us remind you once manufacturing company. again in this section that you need to create this team in a way that will carry out pilot projects, encourage participation and cooperation between units throughout the company, If you are a company operating in the service sector, you can start your and train other employees. Sustainability adopts an approach where companies are sustainability studies by taking measures for energy saving and efficiency in offices. responsible to all their stakeholders and their expectations can be met in the best way After lighting, heating and cooling systems, the equipment that consumes the most possible. For this reason, it should be ensured that sustainability practices are integrated electricity in offices is computers, photocopiers and fax machines. You can save money in into the organization and operations and finally harmonized with business and project their use or replace them with energy-saving devices. Or you can encourage your employees practices. In addition, it is very important to determine who your stakeholders are, their to turn off monitors when not in use, hang electricity bills in visible places in the company to needs and expectations, and to establish mechanisms where they can convey their views raise awareness of all employees, minimize paper usage or use recycled paper materials. to you and even audit you, in short, involve them in the process by being in constant However, the responsibilities of companies operating in the service sector go far beyond communication with them. these. Because their contribution to sustainability comes not only from their activities, but also from the externality they create in this sense. For example, a bank can evaluate loan applications by grading the possible social and environmental contributions of the projects, and as a result, it can give credit to the project that will make the most social and “Allow your stakeholders to be a part environmental contribution or apply a lower loan interest to such projects. Or, a food service company can encourage its suppliers in this direction by choosing to buy their materials of this transformation as well.” from a farmer who does not produce organic, antibiotic-free, genetically modified products. Stakeholder dialogue is essential for being a sustainable company. Analyze the suggestions and information received from them and develop new and sustainable business processes. While performing all these steps, plan and take action to fully integrate sustainability into the company's decision-making, management, measurement and reward systems. Do not leave this to the end, start from the beginning of the process with this point of view. “Don't promise more than you can deliver, try to achieve more than you promise.” Share and report your sustainability performance and the results of your new projects with your internal and external stakeholders. The contributions of reporting to your company and various reporting frameworks are discussed in detail in the following sections of the report. The implementation phase is the phase where you will take concrete steps to close the gap between your company's sustainability situation and your vision. The Corporate Governance Principles determined by the CMB regulations will guide you in your corporate governance studies. Undoubtedly, the steps that each company should take in the implementation part are different from each other. For example, the processes of a manufacturing company or a company operating in the service sector, and therefore sustainability solutions, will differ. 29 30 Machine Translated by Google Recycled paper is used. Today, the companies that produce the most have been affected by the fact that where do you source your materials from, are the working conditions both in the issue of sustainability has come to the fore at this level. The most important the supply chain and in your company compatible with international principles, reasons behind this are the use of chemicals due to the nature of production works, what kind of improvements can you make in the working conditions of workers, the necessity of energy consumption, the consumption of natural resources, the occupational health and safety, are there areas where you can save energy in the emergence of undeniable waste, the employment of factories and many workers. production process, is it possible to reuse waste water, chemical raw materials As a result of all these, there are very important steps that production companies Can you use more harmless chemicals as a substance, can the product be recycled can take in terms of sustainability. a manufacturing company, after its end of life or used as an input in the production of other products, can you negative effects of the product both in the production process and in the usage process. create creative and sustainable products and services, all of which can be reviewed. should try to minimize its environmental and social impacts. Hence, raw 31 32 Machine Translated by Google Recycled paper is used. Sustainability Reporting Sustainability Reporting is the reports in which companies describe the economic, environmental and social impacts of their daily activities. The number of companies reporting their sustainability performances is increasing all over the world. While some companies include the steps they have taken regarding sustainability in their annual reports, some of them open a separate heading on their websites to inform their stakeholders about this issue, and an important part of them prepare a separate “sustainability report”. There are different reporting frameworks that are accepted worldwide so that companies can make clear, understandable and transparent sustainability reporting. These standards are constantly updated in line with stakeholder demands and evolving needs. In order for companies to report in a quality manner, the reporting frameworks in question and the companies that provide consultancy services on this subject are guiding. Adopting a corporate sustainability approach by a company means accepting that it has responsibilities to other stakeholders besides its shareholders. In other words, the scope of the concept of “accountability” has now expanded. Stakeholders demand transparency from the company and want to have information about their social and environmental performance as well as their financial performance. Sustainability reports, which provide an assessment of the company's strategy, management approach and promises to the stakeholders, are also seen as a tool of accountability and communication. Sustainability reports should not be seen only as a communication and accountability tool. One of the main features of these reports is that they emphasize the link between financial and non-financial performance of companies. In the reporting process, companies develop long-term goals and shape their management strategies, policies and business plans within the framework of the sustainability vision they have created. In this way, the company management can focus on areas that need improvement by identifying the pros and cons of companies, in other words, they can see possible risks and opportunities. Thus, businesses can more easily determine the steps to be taken to strengthen their position in the business world. Reporting sustainability performance helps companies to reveal their intangible values, thus reinforcing corporate reputation and brand loyalty. In addition, the reports prepared on the basis of certain reporting principles offer the opportunity to compare the company with other companies operating in the same sector. 33 34 Machine Translated by Google Recycled paper is used. Reporting Frameworks The Role of Stock Exchanges in Sustainability Prominent reporting frameworks around the world G4 presented by the In recent years, stock markets, especially in developing countries, Global Reporting Initiative (GRI), Communication on Progress (COP) have started to develop regulations for the public disclosure of the prepared in accordance with UNGC, Integrated Reporting prepared by sustainability practices of the companies traded in order to inform their the International Integrated Reporting Council (IIRC) (Integrated Reporting, existing investors and to appeal more to the global institutional investor, IR) and CDP Reports prepared within the framework of the Carbon and to take some decisions in order to increase transparency and raise Disclosure Project (CDP). awareness on sustainability. Some of these decisions and practices; developing sustainability guidelines, organizing training programs and promoting research in the field of sustainability, and establishing sustainability G4 COP AND CDP indices as a tool to help institutional investors evaluate capital more sustainably. Commonly used UNGC's human Integrated reporting is the Widely used in the GRI It references its relationship between the world Perhaps the most effective product developed by exchanges in the It is the latest version 10 principles on strategy, management and reporting field of responsible investments is sustainability indices. The history of of frameworks. human rights, labor financial performance of framework. sustainability indices goes back to the 1990s. The first sustainability indices standards, environment the organization and the It determines and corruption. environmental, social and The main topics of that financial markets and investors consider as a global sustainability principles and indicators economic factors in the the reporting are indicator were created by Dow Jones and FTSE in 1999 and 2001, respectively. related to economic, The Progress field in which it operates. Climate change, environmental and social Report covers a defines the connection. water use, damage to performance. company's work forests, supply chains. South Africa (2004) and Brazil (2005) started to calculate sustainability towards these principles With indexes earlier than many developed markets and pioneered other “Priority and describes the integrated environmental risks. reporting, the emerging markets. Since 2008, sustainability indices have been started to issues” in company's progress in determining the this direction. company shares its CDP provides a be calculated in developing countries such as China, Indonesia, India, information to be annual long-term vision and global system Hong Kong, Korea, Mexico and Egypt. reported statements in which strategy, while present through which brought the criterion. stakeholders are informed. companies can With this status and measure, manage and approach, It is expected share important companies' to explain its environmental data. On activities are based resources, values, behalf of more than on environmental, social and economic methods that it plans 700 institutional all its effects to implement in order investors, it calls on not only their own to reach its goal, and companies to disclose goals and their impact the path to be followed. their environmental on society. data. These data the most critical Unlike other reports collected from reports those. companies are graded Both according to the rating of investors retrospective methodology developed reports information and forward- by CDP and emerge that can be looking vision are shared. CDP analysis every year easily evaluated. reports and thematic The framework reports are prepared. was first published at the end of 2013, and its Turkish version was published in 2014. 35 36 Machine Translated by Google Recycled paper is used. Application Examples from Turkey In this section, some practices of three companies that are traded on our Stock • The company's energy policy is to use energy and natural resources efficiently in Exchange, adopting the sustainability approach and integrating it into their activities, products and all processes, to prefer energy efficient technologies and applications, to set and making sustainability reports even though there is no legal obligation, are mentioned. an example for the sector in producing the 'most efficient' products in the world, to provide products and services with energy efficiency in production and in all processes, to consume natural resources and raising the awareness of employees and society about energy A company traded on our stock exchange and operating in the production and sale of efficiency. durable consumer goods stands out with the following sustainability practices. • In 2011, the company became a member of the Climate Platform, which was established as an independent and non-profit initiative to support the efforts to combat climate change and transition to a low carbon economy, in cooperation with REC Turkey and TÜSÿAD, in • The company adopts a sustainable life approach and aims to protect and make line with the strategy of combating climate change. has been. Acting as the Term sustainable the environment and natural resources throughout the “product life cycle” with Spokesperson of the Platform's Turkey Climate Change Leadership Group, the Company its environmentally friendly activities and products. Aiming to consume less energy and less represented Turkey at the World Climate Conferences held in Durban in 2011 and in Doha in resources in the production process, the Company works to ensure that the products it 2012. In addition, the Company attended the World Climate Conference held in Warsaw in produces are products that use less energy and consume less resources. 2013 and continued to closely follow developments related to climate change. • Ethical, social and environmentally sensitive approaches adopted by the company shape the supply chain, purchasing and consumer services activities as well as production and • The company carries out projects to reduce water consumption resulting from product, and are among the strategic decision criteria. production and to recover water. • Since 2012, the company has started to use electricity obtained from renewable energy • The company has established a Sustainability Board in order to determine sources in its production facilities and offices. • The company has ISO 14001 Environmental sustainability and climate change policies and strategies and to integrate them with company Management System and ISO 50001 Energy Management System (EYS) certificates. • business processes. Since 2010, the company calculates, reports and audits its greenhouse gas emissions in • The company's sustainability management infrastructure consists of policy texts accordance with the IPCC and ISO 14064-1 Greenhouse Gas Inventory Reporting Standard based on Ethical Values, Environmental Policy, Energy Policy, Quality Policy, at the “reasonable assurance (100% control)” level. • Participating in the CDP project and Occupational Health and Safety Policy, Human Resources Policy, Supplier Working receiving the 2012 Carbon Disclosure Leader award, the Company became the 2013 Carbon Conditions and Public Disclosure Policy. Disclosure Performance Leader. • Periodic trainings are organized for employees in the fields of environment and energy efficiency and occupational health and safety. Intranet • The company has adopted a transparent, accountable and participatory system, brochures, posters, etc. are provided. Continuity is ensured with the materials. management approach. • Increased its Corporate Governance Rating to 9.41 out of 10 in 2014. • There are 4 independent members in the Board of Directors of 12 members. • The Company organizes events and sponsors activities in certain periods in order to raise • The General Directorate and the Chairman of the Board of Directors are carried out by awareness in the society about environment and energy efficiency. ways to contribute. • different individuals. Since 2007, the company has presented its sustainability practices to its stakeholders every • The company's environmental policy is to transfer a clean and healthy environment that year in its sustainability report, prepared in accordance with the GRI (Global Reporting is sensitive to climate change to future generations, to use energy and natural resources Initiative Principles). efficiently, to reduce negative environmental impacts throughout the entire product life cycle from design to the end of the life cycle, to prevent pollution at its source, to prioritize sustainability and climate change in all activities. is to increase the environmental awareness of its employees and society. 37 38 Machine Translated by Google Recycled paper is used. Among the service sector companies traded on our stock exchange, a bank has taken the following steps regarding sustainability. • Sustainability by the Bank, first in 2012 reporting has begun. In addition, greenhouse gas emissions have been reported every year since 2010 within the scope of the Carbon Disclosure Project. In the reporting made in 2014, limited independent audit was obtained. • The Bank gives maximum importance to the issue of sustainability to its customers, continuously and distinctly the value it adds to its stakeholders, employees and society. envisages an increase. At the same time, increasing social welfare and reducing environmental risks and ecological scarcity. It aims to contribute to global efforts to improve social equality. • The bank's sustainability approach is determined by the board of directors. In line with the approved sustainability policy, sustainable finance and customers, environmental impacts of operations, society, stakeholders, human resources and corporate sustainability management. • 50% of the Bank's energy production projects financing is renewable energy consists of projects. Turkey's share in wind energy installed capacity is 50% among domestic banks, when foreign banks are also included. 34%. • In 2013, to draw attention to the high use of energy in buildings and With the aim of reducing energy use, the initiative launched by the Business World and Sustainable Development Association has signed the document named “Energy Efficiency in Buildings”. • The Bank became the first private bank to offer the Women Entrepreneurs package as part of the support project for women entrepreneurs. women on fundamental issues. It aims to inform, encourage them to create new opportunities in their work and contribute to their personal development. In addition, the bank signed the Women's Empowerment Principles in 2014. 39 40 Machine Translated by Google Recycled paper is used. One of the important companies in the flat steel production sector, traded on our stock exchange, carries • Great importance is attached to occupational health at every stage of production. The Risk out its activities with the awareness that the quality of life, welfare level, economic competitiveness, Assessment System, the software of which was developed by the Company's employees in 2009, is employment and the continuity of the ecosystem depend on the common natural capital, and the basic the 9th edition organized by the European Occupational Health and Safety Agency. sustainability practices of the company are briefly mentioned below. It represented Turkey in the European Good Practice Awards competition and was selected as the “Recommended Practice” in Europe and was included in the “Good Practices Booklet” published in EU member countries and candidate countries. • It sets an example in the sector by sharing its • The company and its affiliated group adopt the Sustainable Development Protocol of the knowledge and experience, good practices and innovations in the fields of environment, energy, OHS World Steel Association, of which it is a member. and R&D in domestic and international symposiums, conferences, seminars and business networks. • • In order to protect the environment, it carries out its production activities with the awareness of Students are prepared for the future in 9 schools handed over to the Ministry of National Education by using water, soil, air in a way that will provide optimum benefit for both the group of companies and the company and its group. Group companies meet the technical equipment, maintenance and repair the environment, choosing the technologies that give the least waste to the nature, keeping the and educational material demands of educational institutions in their regions, and help children continue environmental effects under constant control, and the continuity of recycling. their education in better physical conditions. • Since its establishment, the company has made a transparent and responsible management approach to the social environment and other stakeholders • The Environmental Directorate has been established within the company, and the relevant unit a part of its corporate culture. carries out all the organizational environmental management activities of the Group and reports the environmental performance to the senior management. • It was selected as the most successful company with the Environmental Management Process and Environmental Performance Index in the Management Systems Category of the European Union Environment Awards Turkey Program, which was held for the first time in Turkey in 2006, which • The Company publishes the Corporate Governance Principles Compliance Report every year. reveals the importance of environmentally friendly management, products and processes in terms of global competitiveness of companies. • 3 independent members and 1 female board member in the company's board of directors • The Company's “Environmental Management Process – Environmental Performance are available. Index and Sustainability Practices” became one of the best practices to represent our country within the scope of the 2012 UN Sustainable Development Conference (Rio+20) Supporting Preparations Project and was presented at Rio+20. • The company and its subsidiary group carry out various afforestation projects with the awareness that forests have carbon sinks that allow the absorption of greenhouse gases, in line with minimizing environmental impacts while continuing their activities. • It considers energy efficiency as an important investment area with the close follow-up and support of the management, and works to continuously improve its energy performance, which is of great importance for the sustainability of production and the environment. • The Company, which has the Energy Management System Certificate, has been awarded many awards since 2001 by various institutions and organizations for its investments and studies in energy. 41 42 Machine Translated by Google Recycled paper is used. BIST Sustainability Index Borsa ÿstanbul cooperates with local and international relevant At the first stage, companies included in the BIST 30 Index will be organizations in order to encourage companies' practices on ESG issues evaluated by EIRIS, and only publicly available information will be used in and believes that the sustainability index will make a significant contribution valuations. In the future, the pool of companies to be evaluated in line with the to the studies in this area. With this in mind, a cooperation agreement was opinions and suggestions of the stakeholders may be expanded. The company signed between Borsa ÿstanbul and Ethical Investment Research Services pool is planned to be expanded to include BIST 50 Index companies first and then Limited (EIRIS) in October 2013 to calculate the BIST Sustainability Index based BIST 100 Index companies. on the environmental, social and corporate governance performances of companies. According to the agreement, EIRIS will evaluate companies taking into account The criteria that EIRIS considers in the valuation process; environment, international sustainability criteria, and companies that exceed the threshold values biodiversity, climate change, human rights, supply chain, structure of the in the "Index Selection Criteria" determined within the scope of the studies with company's board of directors, bribery, health and safety. By taking the opinions EIRIS will be included in the index to be calculated by Borsa Istanbul. of the stakeholders; It is planned to develop the valuation methodology in the future. will be included. 43 44 Machine Translated by Google Recycled paper is used. What are the Expected Contributions from the Index? Sustainability Platform The BIST Sustainability Index, which will provide competitive advantage to Turkish In 2013, the “Sustainability Platform” was established under the leadership of Borsa companies that effectively manage their corporate risks and opportunities, will also form Istanbul in order to exchange ideas on the results-oriented and effective realization of a basis for new investment products. the studies in the field of sustainability in our country and to create a sharing network that will allow the discussion of joint steps to be taken on sustainability. The index will reveal how companies approach sustainability-related issues such as global warming, depletion of natural resources, decrease in water resources, health, safety and employment, which are important for Turkey and the world, and will ensure that their activities and decisions are independently evaluated and, in a sense, Who is a Member of the Platform? registered. Organizations included in the “Sustainability Platform”; Capital Markets Board, “The index will allow Borsa ÿstanbul, Banks Association of Turkey, Capital Markets Association of Turkey, companies to compare their Corporate Governance Association of Turkey, Business World and Sustainable Development Association, UN Global Compact Turkey, CDP Turkey, TÜYÿD-Investor corporate sustainability performance Relations Association, Turkish Industrialists and Businessmen Association and locally and globally. ” Sustainability is the Academy. The Federation of Eurasian Exchanges (FEAS) is a member of the Platform with observer status. Sustainability Platform members come together at least twice a year. With the Index, companies will be provided with a performance evaluation tool Borsa ÿstanbul representative chairs the platform meetings. and the opportunity to develop their risk management skills regarding corporate The members, who are in active communication, carry out their work shaped transparency, accountability and sustainability will be provided. This will create a competitive opportunity for companies. As a result of the evaluations, the recognition and within the framework of the common vision of the Sustainability Platform, in reputation of the companies included in the index will increase in the eyes of the public coordination. and investors, and they will be preferred by more investors. What are the Responsibilities of Member Organizations? An opportunity for new investment instruments • To commit to comply with the Universal Declaration of Human Rights, The index will be an indicator for asset managers to issue a variety of financial products environmentally friendly sustainable management of natural resources and such as sustainability-based funds, exchange-traded funds, and structured products. sustainable development principles in its regulations and decisions. Today, most of the responsible investments are made by institutional investors. The • To cooperate in the field of sustainability and to organize meetings, seminars and joint sustainability index will encourage the establishment of funds investing in this field, and will training programs on this subject • To work to involve stakeholders in their fields of influence facilitate the companies included in the index to receive a share from such funds. At the in sustainability studies same time, a new financial asset category will be presented to all investors with the index. • Organizing joint activities and programs to raise awareness of the public and the press on sustainability and to strengthen the perception of the concept of sustainability. 45 46 Machine Translated by Google Recycled paper is used. Contributing Institutions Source 1) United Nations Framework Convention on Climate Change, Kyoto Protocol, Contributing to the preparation of this guide; http://www.csb.gov.tr/db/iklim/editordosya/kyoto_protokol.pdf To the Capital Markets Board 2) United Nations Principles for Responsible Investment, http://www.unpri.org/ To the Banks Association of Turkey introducing-responsible-investment/ To the Corporate Governance Association of Turkey 3) BM&F BOVESPA, Novo Valor Corporate Sustainability-How to Begin, Who To the Business World and Sustainable Development Association to Involve and What to Prioritize to CDP Turkey TÜYÿD Investor Relations Association and 4) Bursa Malaysia, Powering Business Sustainability-A Guide for Directors To Other Members of the Sustainability Platform 5) Deloitte Investor Relations Handbook, 2008 6) Digital and Sustainable, EkoIQ we thank you. 7) Hithcock D. and Willard M., The Business Guide to Sustainability, Practical Strategies and Tools for Organisations, Second Edition, 2009 8) Keskin B., Koper Ö., CSR Consulting Turkey, EkoIQ, 2012 9) Sabancÿ University, Corporate Governance Forum of Turkey, Sustainable Investment in Turkey: The Case in Context-An Update, 2014 10) The Future We Want, 2012 http://www.uncsd2012.org/content/ documents/727The%20Future%20We%20Want%2019%20June%20 11) The UN Global Compact-Accenture CEO Study on Sustainability, Architects of a Better World, 2013 1230pm.pdf 12) tr.wikipedia.org 13) United Nations Conference on Trade and Development (UNCTAD), Best Practice Guidance For Policymakers and Stock Exchanges On Sustainability Reporting Initiatives, 2013 14) U.S. Environmental Protection Agency, http://yosemite.epa.gov/r10/ oi.nsf/Sustainability/History 15) Willard B. The Sustainability Champions Guidebook, 2009 16) www.ekolojimagazin.com 17) www.tkyd.org 47 48 Machine Translated by Google Recycled paper is used. 49 50 Machine Translated by Google To view this brochure online / borsaistanbulEN /borsaistanbul /borsaistanbul