Dear Members;
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March 10th, 2025
POA amended the Sustainability Reporting Standards.
While some companies were excluded from the scope of mandatory implementation, flexibility was provided to some financial institutions.
The Public Oversight Authority (POA) announced a change in the scope of application of the Turkish Sustainability Reporting Standards (TSRS).
In the announcement made by the Authority on March 6, 2025;
- Some companies are excluded from the scope of mandatory application,
- For some financial institutions, reporting of Scope 3 emissions was reportedly left to their own volition.
According to the announcement, companies whose shares are traded on Borsa Istanbul A.Ş.'s Close Monitoring Market and Venture Capital Market were excluded from the mandatory application.
In addition, organizations issuing capital market instruments approved by the Capital Markets Board were similarly excluded from the scope of the application.
Furthermore, these institutions are subject to the conditions that their shares are not traded on the stock exchange or any other financial market and that they do not issue their shares.
The Authority also decided that banks and non-bank financial institutions with no more than 1 branch or 250 employees may choose to report their Scope 3 emissions for the periods they are exempt from the disclosure obligation.