The Draft Regulation on Sustainability Audit (“Draft Regulation”), which will regulates (i) the sustainability audit to be conducted mainly within the framework of the Turkish Commercial Code No. 6102, the Decree Law No. 660 on the Organization and Duties of the Public Oversight, Accounting and Auditing Standards Authority (“Authority”) or on a voluntary basis, (ii) the authorization and responsibilities of independent audit firms and independent auditors who will operate in the field of sustainability, (iii) supervision and audit by the Authority and (iv) the administrative sanctions to be with respect thereto, is submitted to public’s view.

The Climate Change Presidency (“Presidency”) has submitted the draft Regulation on Türkiye Green Taxonomy Regulation (“Draft Regulation”) to public’s view. The Draft Regulation aims to regulate the principles and procedures of the Green Taxonomy of Türkiye to (i) support economic activities aligned with sustainable development goals, (ii) promote the flow of financing toward sustainable investments, and (iii) prevent greenwashing in the market. The authority to enforce the Draft Regulation lies with the Minister of Environment, Urbanization, and Climate Change.