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NameBorsa stanbul
CountryTrkiye
Number of listed companies505
Domestic market capitalization279,303 million US$
SSE Partner ExchangeYes
Has annual sustainability reportYes
Borsa Istanbul published sustainability reports for 2015 and 2016.  As of 2017, the companys annual reports started to be published in integrated report format and information on sustainability performance and ESG data were included in integrated reports.  The companys annual integrated reports are prepared in accordance with IIRC integrated reporting framework and GRI Standards. You can reach the latest annual integrated report here

ESG reporting required as a listing ruleYes
The Sustainability Principles Compliance Framework (The Outline)  was put into practice with the amendment to Capital Markets Board of Trkyes Communiqu (No II-17.1) on 02.10.2020. The Outline contains fundamental sustainability principles and metrics expected to be disclosed by listed companies under the Comply or Explain principle.
Has written guidance on ESG reportingYes
  • The Sustainability Reporting Guide was updated in 2020, is available here (Turkish).
  • Integrated Reporting Guide was published in 2022 (Turkish).
  • Climate Reporting Guide was published in 2022 (Turkish).

Offers ESG related trainingYes
Borsa Istanbul provides training and hosts events:

  • In 2022, more than 400 representatives from 243 listed companies have been trained on the concept of ESG and sustainability indices that have been calculated by Borsa Istanbul.
  • In the first quarter of 2022, SSE provided TCFD training to listed companies in Trkiye, in collaboration with Borsa stanbul, IFC and CDSB. (source)

Apart from trainings, Borsa Istanbul hosted a couple of events dedicated to ESG.

  • 30 June 2022: Hosted Green Bonds Sukuk Workshop (on site) organized by EBRD and Capital Markets Board of Trkiye.
  • Supports and hosts Annual Sustainability Finance Forum organized jointly by the Business World and Sustainable Development Society Trkiye, United Nations Environmental Program Finance Initiative (UNEP FI) and Global Compact Trkiye. The last Forum took place in November 2022.

Borsa stanbul chairs Sustainability Platform that aims to create a sharing network which enables result-oriented and effective realization of the sustainability activities and powerful discussions on future joint steps in the field of sustainability.

Market covered by sustainability-related indexYes
BIST Corporate Governance Index

The index, introduced in 2007, includes companies with high corporate governance ratings determined by the rating institutions authorized by CMB.

BIST Sustainability Index 

The index was introduced in 2014. In 2021, the calculation methodology has been revised in cooperation with Refinitiv whose ESG ratings are now being used to calculate the index.

BIST Participation Sustainability Index

The index, introduced in 2021, includes the companies compatible with Islamic finance and have high ESG scores.

BIST Sustainability 25

Introduced in 2022, the index comprises 25 companies with the highest daily average trading volume and the free float market value among the companies that provide minimum sustainability rating (provided by Refinitiv).

Has sustainability bond listing segmentNo
Has SME listing platformNo
Women on boards mandatory minimum ruleNo
Additional information

Organizational model of stock exchange
  • Demutualized for profit; demutualized in 2012.

Regulatory bodies

Regulatory modelThe legal framework of Turkish capital markets, as it currently stands, is mainly devised by two major pieces of legislation, namely  Capital Markets Law No. 6362 and Turkish Commercial Code. Other regulations include Communiqus of Capital Markets Board and Regulations of Stock Exchange. Link
About the stock exchange