Sustainability Performance of Businesses in the Covid 19 Pandemic Process: A Sustainable Added Value Analysis of Cement Manufacturing Businesses in Bist Sustainability Index

Abstract

Purpose – This study aims to reveal impact of the Covid 19 pandemic process on the sustainability performances of cement production companies traded in the BIST Sustainability Index with the sustainable added value method. Design/methodology/approach – By using the sustainable added value method developed by Figge and Hahn (2004) to measure the contribution of institutions to sustainability, the added value created by ÇİMSA and AKÇANSA, which are cement production companies traded in the BIST Sustainability Index, on the path to sustainable development was measured. Findings – In 2019, it was concluded that the company (AKÇANSA) used its resources more effectively than the benchmark company (ÇİMSA), and in 2020 and 2021, the benchmark company (ÇİMSA) used its resources more effectively than the company (AKÇANSA). In the Covid 19 pandemic period (2020-2021), it has been determined that the sustainable value created by the company (AKÇANSA) is lower than the benchmark company (ÇİMSA). Discussion – It can be said that the two cement production companies (AKÇANSA & ÇİMSA) traded in the BIST sustainability index were not economically affected by the Covid 19 pandemic period, but exhibited an unstable performance in terms of their additional contribution to sustainable development based on the years 2019-2020 and 2021.