Ülker becomes the first food company to enter bist sustainability index
Ülker became the first food company to ever enter the Borsa Istanbul Sustainability Index. (BIST).
It also recently announced what its sustainability principles as well as goals for are for 2024 under a new motto: “This World is Ours.” It is one of only 29 companies on BIST Sustainability Index.
Ülker became the first food company [in Turkey] out of 29 companies to enter the BIST Sustainability Index because of its Sustainability Goals for 2024. The index evaluates companies that have been traded on the Borsa Istanbul (Istanbul Stock Exchange), and who have a high level of corporate sustainability performance. The list mainly consists of service providers and industrial companies.
Ülker has entered the Sustainability Index because of “growth with zero emissions and waste-free” target for 2024 – this as it marks its eightieth anniversary. Ülker’s other targets include expanding its factories without increasing carbon emissions, manufacturing without waste (i.e. waste-free), and cutting how much plastic and paper it uses for packaging by 20%.
Ülker’s CEO Mehmet Tütüncü noted that it feels wonderful to have been included into BIST, and that it is a tell-tale sign of just how hard they’ve worked. “Our job is to make food. In doing so, one hand touches the soil, the other touches people. We’ve placed our vision of sustainability at the heart of how we do business. Thus, we’re working hard to create a better world for our grandchildren. Our motto when we work is “This world is ours.” In other words, we’re focusing on the environment, the value chain, innovation, employees, social responsibility, and leadership. We’ve already set our targets for 2024. We want to be a leader in this field.”
Tütüncü stated that sustainability is key to maintaining people’s jobs in the coming years:
“We are the first food company [in Turkey] to have ever made it into BIST Sustainability Index. That further encourages us to work all that much harder. On international stock exchanges, investors choose to buy shares from companies that manage, manufacture, and trade their resources responsibly. Customers prefer to buy brands that use their resources wisely, so that they last. Younger people also want to work with companies that have good global business strategies.
When we invest in sustainability, we want to create maximum value for our investors and shareholders on the financial market. The way we do that is by carefully managing our intangible assets, i.e. our human capital, brand reputation, and innovation prowess.”
Some of Ülker’s Sustainability Goals for 2024
- Cut down carbon emissions per product by 40% using a green energy supply at all Ülker Biscuit factories. Recycle all waste rather than throw it away.
- Cut down logistics-related carbon emissions by 20%
- Use 20% less plastic in packaging
- Use 20% less paper (save 6,000 tons of paper)
- Expand without increasing its carbon footprint
- Raise energy efficiency by 25%
- Use 30% less water in factories
About the BIST Sustainability Index: Founded in 2014, BIST Sustainability Index aims to make Turkish companies – especially those on Borsa Istanbul – more aware of and implement sustainability. It reveals how companies handle sustainability issues as faced by Turkey and the rest of the world (e.g. depletion of natural resources, diminished water resources, health, safety and employment). It evaluates a company’s activities and decisions separately, and lists them. The index, established in 2014, is expected to trade 29 company’s stocks in the coming period.
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