Global Network: BCSD Turkey releases Reporting matters 2023 Türkiye

Istanbul, November 2024: WBCSD’s Global Network partner BCSD Turkey released the2023 edition of the Reporting matters Türkiye report.

In partnership with PwC Turkiye, BCSD Turkey has been assessing its members’ sustainability, integrated, and activity reports for seven years within the framework of the Reporting matters methodology developed WBCSD and Radley Yeldar.

This edition introduces an evolved evaluation framework designed to guide companies through an era of rapidly evolving reporting regulations and increased stakeholder expectations. The new framework takes into account the latest sustainability reporting developments led by global standard-setting bodies and government agencies, such as ISSB, EFRAG, and SEC. It aims to strike a balance between compliance-driven reporting and the need to maximize reporting’s value to drive rapid positive change.

We are pleased to see that companies in Turkey and around the world are increasingly developing their information and data collection processes within a more specialized framework. In the first half of 2023, sustainability-related disclosures in global capital markets marked the beginning of a new era, while the business world in Turkey continues to align with reporting principles, embracing a fair and nature-positive approach in competitive markets and taking its place in this transformation.

Ediz Günsel, Chair of the Board of Directors, BCSD Turkey

The theme of this year’s Reporting matters Türkiye report is “Delivering impact in a time of complexity.” It represents an in-depth analysis of the 2022 reports of 75 companies operating in the country across 11 main sectors and 45 sub-sectors.

Key highlights of Reporting matters Türkiye 2023 include:

• The state of materiality assessment: Evaluations conducted using the methodology show that companies in Türkiye are aware of materiality issues but are still at the early stages of implementation. This year, only 11 of the 75 companies indicated that they considered double materiality in their reports.

• The state of external assurance: 34 companies obtained assurance. Only five companies received external assurance for all key performance indicators related to all material issues. Reasonable assurance remains one of the areas with the most room for improvement.

• Frameworks and standards: This year, 99% of companies reported using the GRI standard. Additionally, 32% of companies referenced the Carbon Disclosure Project (CDP), which provides data-driven insights on climate change, water security, and deforestation, helping investors and other stakeholders make informed decisions.

• Science-based targets: The vast majority of companies stated that they have been working on or plan to work on greenhouse gas emissions and biodiversity targets, though performance progress in these areas remains one of the key areas for improvement.

Read the report in English and Turkish.