A sign of Turkey’s strengthening economy, the Istanbul Stock Exchange Market (Borsa Istanbul) is now ranked within the world’s top 20 most sustainable stock exchanges.
Based on companies’ environmental, social and corporate governance performance, the Sustainable Exchanges Index measures the sustainability of exchanges. The new rankings place the Borsa Istanbul in 11th place on the Sustainable Exchanges Index, up from 32nd. The index includes the world’s 46 leading exchanges, each with a minimum market capitalization of $2 billion (TL 4.4 billion). The first three exchanges in terms of sustainability are the Helsinki Exchange (Finland), the Amsterdam Euronext (the Netherlands) and the Johannesburg Exchange (South Africa).
Ranking 11th on the list, Borsa Istanbul surpassed gigantic exchanges such as NASDAQ OMX, Tokyo, BOVESPA (Brazil) and Deutsche Börse.
In further encouraging news for the Turkish economy – and investors of property in Istanbul, Deputy Prime Minister Ali Babacan revealed this month that Turkey has created employment for six million people since 2009. During a visit to New York for International Monetary Fund (IMF) and World Bank meetings, Babacan said that one of the most notable economic achievements during the last 12 years was the huge growth of Turkey’s GDP, which topped $820 billion in 2013 – in 2002, it was worth $230 billion.
Babacan added that 1.2 million jobs were created during the last year alone, saying that “our healthy economic growth leads to more jobs”. Turkey’s GDP grew by four per cent last year, while the growth rate in the first half of 2014 has been at 3.3 per cent.