Türk-İş, which determines the hunger and poverty line every month, announced that the amount needed for a single person to meet their basic needs in February exceeded 18 thousand lira.
ESG Risks:
– Economic risk: The high cost of living in Turkey, as reflected by the hunger and poverty line, poses a risk for customers and investors. It may lead to decreased purchasing power and financial instability for individuals and families, impacting their ability to afford products and services.
– Social risk: The increasing hunger and poverty line indicates a growing challenge in meeting basic needs for individuals and families. This can result in social unrest, inequality, and a decline in overall well-being, potentially leading to reputational and operational risks for companies operating in Turkey.
– Governance risk: The inflation rate highlights the economic challenges faced by the country. This could potentially lead to political instability and affect the regulatory environment, posing risks for companies and investors.
Vulnerable Groups:
– Individuals and families who are below the poverty line or struggling to meet their basic needs.
– Low-income workers who may face difficulties in coping with the high cost of living.
– Unemployed individuals who are unable to find employment due to economic challenges.
Organisations:
– Türk-İş: The organization responsible for determining the hunger and poverty line in Turkey. They play a role in providing data and insights regarding the economic situation and challenges faced by individuals and families.
– Companies operating in Turkey: These companies may be directly or indirectly affected by the economic and social risks associated with the high cost of living and increasing poverty line.
Regions:
– Turkey: The report specifically focuses on the cost of living and poverty line in Turkey.
Sectors:
– All sectors operating in Turkey: The high cost of living and increasing poverty line can impact various sectors, including retail, manufacturing, and services. Companies in these sectors may face challenges in maintaining profitability and attracting customers.
Keywords:
Türk-İş, hunger line, poverty line, cost of living, single person, family of four, inflation rate, economic risk, social risk, governance risk, vulnerable groups, Turkey, sectors, companies.