Until recently, companies were evaluated primarily based on profitability and financial status. Nowadays, having a good credit rating is not sufficient for long-term investments and partnerships. ESG (Environmental, Social, Governance) ratings, which aim to measure the impact and contributions of company activities on the environment and society, as well as the quality of governance, are becoming increasingly important in today’s business world. Although ESG ratings are not yet regulated like credit ratings, they are expected to be regulated in the near future. A good ESG rating can positively impact a company’s market reputation, ability to attract investment, customer relations, and standing with regulators.
Arkas Line Participates in Fitch ESG Meeting Panel on ‘ESG Data and Reporting Standards’
At the “ESG Breakfast” meeting organized by the international rating agency Fitch on October 10 in Istanbul, Turkish companies were informed about the differences between ESG ratings and credit ratings. In the panel titled “ESG Data and Reporting Standards,” Arkas Line Sustainability Director Serra Tükel, Dr. Yener Coşkun from the Capital Markets Board (SPK), and Müge Yücel from Galata Wind participated as speakers. The panel discussed the increasing complexity of tracking ESG data, the European Union’s stringent reporting directive CSRD, and Turkey’s reporting standard TSRS.