A Cooperation Protocol Signed Between CDP Türkiye and the Public Oversight, Accounting and Auditing Standards Authority (KGK)

Under the protocol, CDP Türrkiye and KGK will collaborate to enhance national awareness and share their mutual knowledge and experience in developing strategies and reporting on climate change, water, and deforestation risks.

The Türkiye Sustainability Reporting Standards were published by KGK on December 29, 2023. Companies falling within the specified scope and exceeding the threshold values are required to prepare their sustainability reports starting from January 1, 2024.

In preparing sustainability reports, the standards set by the International Sustainability Standards Board (ISSB), established under the International Financial Reporting Standards (IFRS) Foundation, serve as a benchmark. Specifically, the IFRS S1 "General Requirements for Disclosure of Sustainability-related Financial Information" and IFRS S2 "Climate-related Disclosures," published on June 26, 2023, are used to ensure consistency in practice and international validity.

CDP has decided to integrate the new climate-related disclosure standard developed by ISSB into its platform and has established a comprehensive partnership with the IFRS Foundation in this regard. The integration of ISSB standards into CDP questionnaires by 2024 will play a critical role in ensuring that thousands of companies already reporting to CDP are well-prepared for the transition to mandatory reporting. Furthermore, companies reporting to CDP will already be in compliance with the standards published by KGK.