'New era begins in Borsa Istanbul's sustainability index'

By Aysu Bicer

ANKARA (AA) - A new era in the BIST sustainability Index is set to begin in Borsa Istanbul, as companies will be able to update their sustainability data throughout the year.

According to a statement by Borsa Istanbul, the sustainability assessment, which was previously carried out once a year to select the companies that will be included in the BIST Sustainability Index, gains continuity in this new period.

"Sustainability scores of companies will be revised and companies that meet the criteria will be included in the Sustainability Index as of the beginning of the next quarter," it said.

Sustainability scores of companies that meet the criteria and included in the index will be monitored weekly.

Companies whose sustainability scores fall will be excluded from the index, that is, companies with negative sustainability performance will be prevented from remaining in the index throughout the period.

Borsa Istanbul said it aims to extend the number and diversity of sustainability-themed indices by creating sub-indices of investment with fewer shares and on which futures contracts and similar financial products can be issued.

"In today's world, where expectations regarding sustainability raise in terms of investors and regulators and on a national and international level, Borsa İstanbul invites listed companies that have awareness on sustainability and green production to take immediate action by conducting cooperation," it said.

- BIST Sustainability Index

BIST Sustainability Index, which is an index of companies whose shares are traded on Borsa Istanbul and whose corporate sustainability performance is at a high level, has been calculated since Nov. 4, 2014.

Along with the calculation of the Index, the activities of companies with high sustainability performance in this field have become more visible in terms of the market.

Accordingly, the awareness, know-how and hand-on practices have increased in Turkey and in companies listed in Borsa Istanbul particularly.