Sustainability Management
The concept of social compliance and human resources in terms of sustainability emphasizes the responsibility of companies to create positive environmental and social impact. This responsibility applies at every stage of operations and at every level of the supply chain. Companies must examine the potential risks of their activities and products in terms of human resources and employee conditions, addressing emergencies and acting as required by their objectives.
Sustainability is possible primarily through the development of human resources. This means social compliance on the one hand and the development of talent on the other. While the transformation of industry is envisaged in these two areas with the Constitutional Court, it is seen that the EU reflects this approach in its general trade policies developed for third countries and also in its international aid strategies.
The Corporate Duty of Care is a responsibility that requires companies to understand and manage their operations to reduce the environmental and social impacts of their activities. This responsibility extends across business processes and supply chains and includes preventing and reducing potential harmful impacts. Companies should integrate sustainability principles and guidelines throughout their operations. The Duty of Care also includes a structured, ongoing dialogue with consumers and affected communities to minimise negative consequences.
The EU Corporate Due Diligence Directive was published in draft form on 23 February 2022, with the aim of promoting sustainable and responsible corporate behaviour and integrating human rights and environmental considerations into companies’ activities and corporate governance. The Directive will ensure that the negative impacts of companies’ actions are addressed, including in value chains within and outside Europe.
Click here to access the relevant EU page.Sustainability declaration refers to reporting, labeling, market surveillance and preventing misleading sustainability declarations. In this respect, sustainability declaration is a set of tools that improve the environmental impact and sustainability efforts of organizations. It provides companies with the right information so that they can adjust processes and policies in a predictable way. It also makes it more transparent for stakeholders and consumers in general to follow up on sustainability progress.
In order for sustainable business models to be widely adopted, the development of certain standards, compliance with these standards in the declarations of companies and the protection of the implemented business models emerge as the main goal in the declaration of sustainability. In this way, it is envisaged to create an environment of trust in the market and to make sustainability dominant.
Sustainability reporting documents a company’s commitment to reducing its environmental impact and complying with its social responsibilities. This process provides transparency to both internal and external stakeholders and provides an opportunity to regularly evaluate challenges and successes. Sustainability reporting demonstrates a company’s commitment to adopting ethical and environmentally friendly practices and the progress made in implementing these practices. Therefore, sustainability reporting is considered an important element that increases the accountability and transparency of businesses.
Sustainability reporting is a process that evaluates and communicates a business’s environmental, social and governance (ESG) stance and performance. This reporting process requires businesses to evaluate various issues such as their carbon footprint, energy efficiency, water consumption, waste management, corporate diversity and equality, employee rights and overall contributions to society, and to share the information obtained with their stakeholders. Reporting is considered a critical tool for businesses to set sustainability goals, create strategies to achieve these goals and monitor the extent to which these goals are achieved.
The ESRS aims to create a more holistic and effective sustainability reporting ecosystem by standardising the processes by which companies in Europe determine and report their sustainability performance. The directive requires large companies and publicly traded firms to publish regular reports on the social and environmental risks they face and how their activities impact people and the environment.
Click here to get information about the EU's sustainability reporting legislation.The Turkish Sustainability Reporting Standards (TSRS) consist of a set of principles that determine Turkey's sustainability reporting framework. These standards aim to create a framework for assessing, reporting and improving the environmental, social and administrative performance of businesses. A comprehensive and consistent sustainability reporting process helps businesses achieve their sustainability goals while also playing an important role in creating a reliable and transparent dialogue with stakeholders.
TSRS requires businesses to assess their environmental and social impacts and provide accurate and complete information about their current status and performance. In addition, these standards provide a framework to help businesses determine and implement sustainability policies and strategies, as well as monitor and evaluate the effectiveness and impact of these practices. Thus, these standards aim to help Turkey achieve its sustainability goals.
