Turkish stock exchange Borsa Istanbul is developing a sustainability index for which listed companies will be assessed against a set of environmental, social and governance indicators.
Scheduled for launch early next year, Borsa Istanbul has developed the BIST Sustainability Index with responsible investment research provider EIRIS.
The criteria includes bribery, governance, human rights, biodiversity, health and safety, and climate change. While the BIST 30 Index constituents will be included in the first assessment, the BIST 50 Index constituents will be assessed in the second assessment.
"We believe that the index will bring competitive advantage to Borsa İstanbul-listed companies,” says Mustafa Kemal Yılmaz, executive vice president of Borsa Istanbul. “They will use the Index as a performance benchmark to improve their social, environmental and governance performances and to adopt new targets.”
EIRIS also works with the Johannesburg Stock Exchange in South Africa and the Bolsa Mexicana de Valores in Mexico.
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