Istanbul Stock Exchange Sustainability Index (ISESI): A New Way of Sustainability Reporting For Turkish Companies


ÖZBEBEK A., AKDEMİR ÖMÜR G., NEMLİ ÇALIŞKAN E.

2nd International Conference on Business and Management, Turkey, 1 - 04 July 2012, vol.4, no.1, pp.1-9

  • Publication Type: Conference Paper / Full Text
  • Volume: 4
  • Country: Turkey
  • Page Numbers: pp.1-9
  • Istanbul University Affiliated: Yes

Abstract

As the world becomes more global, fast-paced and hypercompetitive, competitive

advantage increasingly depends on success in managing paradoxical issues

concerning the world. In order to overcome these dilemmas, companies change

their paradigm about environment and seek to promote responsible corporate

citizenship so that business can be part of the solution to the challenges of

globalization. As sustainability issues become more essential, reporting

necessities were emerged and a number of sustainability indexes were developed.

These indexes provide a global benchmark to make comparisons between

companies for responsible investors, final consumers, other stakeholders, etc.

Companies want to be members of Sustainability Indexes (SIs) in order to realize

such benefits as having competitive advantage, creating added value, having sales

growth and increasing firm value in the long-term. The Istanbul Stock Exchange

(ISE) and Turkish Business Council for Sustainable Development (TBCSD)

launched the Istanbul Stock Exchange Sustainability Index (ISESI) Project in

August 2010. The Project’s aim is to review the companies listed on the ISE

based on their management of sustainability issues and to create an index that will

demonstrate the sustainability leadership of Turkish companies. In this context,

the objective of this study is to explore the expectations of companies from

INTERNATIONAL JOURNAL OF BUSINESS AND MANAGEMENT STUDIES

Vol 4, No 1, 2012 ISSN: 1309-8047 (Online)

22

Istanbul Stock Exchange Sustainability Index (ISESI) currently in draft and to

make predictions about its future contributions. We try to find an answer to the

question that what difference will ISESI make for Turkish companies’

sustainability efforts.