Sustainability Principles Compliance Framework (the “Sustainability Principles”) published by the Capital Markets Board (the “CMB”) to set out the main principles of the sustainability works of public companies and encourage them to adopt those principles, is included within the capital markets legislation with the amendment dated 2 October 2020 on the Corporate Governance Communiqué No. II-17.1 (“Communiqué”).
With this amendment the CMB has not imposed any obligation on public companies for complying with those principles. However, the CMB has obliged them to report whether they comply with those principles or detailed explanations for reasons of non-compliance in their annual corporate governance compliance reports.
Now, therefore, in light of the above, Borsa Istanbul A.Ş has submitted the Template Report re Sustainability Principles Compliance within the scope of the reports for compliance with the Sustainability Principles for public's view.
This template foresee explanations on the status of compliance and reasons for non-compliance for each of the principles under the subtitles of the following main titles of the Sustainability Principles: (a) General Principles, (b) Environmental Principles, (c) Social Principles and (d) Corporate Governance Principles. The draft report template will be finalized upon public's views.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.