Corporate Social Sustainability: A Study on Turkish Real Estate Companies

Gülnaz engül Güne, Sinan Güne, Monsurat Ayojimi Salami and Yeim Tanrvermi

ERES from European Real Estate Society (ERES)

Abstract: Corporate social sustainability is an approach aimed at minimizing environmental and social impacts while sustaining economic activities of businesses and fulfilling responsibilities towards society. This approach not only aims to generate profit but also endeavors to preserve environmental resources, be sensitive to societal needs, and create long-term sustainable value. Corporate social sustainability encourages businesses to operate in an environmentally and socially sensitive manner, moving away from a sole focus on profit. The real estate sector, while shaping the physical fabric of cities and societies, is also a significant sector that needs to be mindful of its environmental impacts. Real estate properties contribute to a certain percentage of environmental issues due to factors such as energy consumption, water resource utilization, and waste management. In this context, real estate companies are required to embrace and implement corporate social sustainability principles to reduce environmental impacts and meet societal needs. Practices such as green building design, energy efficiency measures, and waste management systems constitute a significant part of sustainability efforts in the real estate sector. Thus, real estate companies contribute to a sustainable future by both mitigating their environmental impacts and operating in a socially responsible manner. Within the scope of this research, the aim is to evaluate the perspectives of real estate companies operating in Türkiye regarding corporate social sustainability and their efforts in this regard. To achieve this aim, a closed-ended survey was conducted targeting real estate companies listed and unlisted on the stock exchange in Turkey. The research is deemed beneficial in shedding light on the perspectives of real estate companies operating in Türkiye towards sustainability and informing policymakers about measures to be taken at the company level to promote sustainability.

Keywords: corporate social sustainability; Esg; real estate companies; sustainability (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-ara, nep-env and nep-ure
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