Sustainability Reporting in Tourism Sector in Türkiye: Situation Analysis Before Mandatory Implementation

Abstract

In Türkiye, sustainability reporting, which was voluntary until recently, became mandatory with the publication of the Turkish Sustainability Reporting Standards (TSRS) by the Public Oversight Accounting and Auditing Standards Authority in line with the IFRS Sustainability Disclosure Standards published by the International Sustainability Standards Board and became effective as of 01.01.2024 for companies of a certain size. This study was conducted to evaluate the sustainability disclosures of Turkish-listed companies operating in the tourism sector prior to mandatory reporting and to analyse the extent to which their current reporting practices are in compliance with IFRS. In this context, firstly, TSRS 1,  TSRS 2 and the Guidance on Sector-Based Application of TSRS 2 (Section 52: Hotels and Accommodation Enterprises) were analysed. Then, the sustainability reports of the enterprises in the accommodation sub-sector in Borsa Istanbul that have published sustainability reports were analysed and compared, and the issues that are missing according to the new regulations and that should be added in the future were determined. The results reveal which information is currently presented in the sustainability reports of enterprises in the tourism sector, which critical elements are missing, and which new disclosures will become mandatory under TSRS. Thus, this study provides a valuable framework for understanding the impacts of mandatory sustainability reporting on the sector and providing guidance for policymakers, regulators and practitioners.