How to Make TSRS Compliant Reporting for Banks and Financial Institutions? When is the Deadline?

Sustainable financial transformation continues rapidly in Turkey. Now, not only financial performance but also environmental, social and governance (ESG) performances are of great importance to regulatory authorities, investors and society. In this context, the Turkish Sustainability Reporting Standards (TSRS) entered into force and started a new era for the financial sector.

✅ What is TSRS and Who Does It Cover?
TSRS (Turkish Sustainability Reporting Standards) is a sustainability reporting system published by the Public Oversight Authority (KGK) and compatible with international standards such as GRI, IFRS S1-S2, ESRS.

TSRS requires companies to provide transparent, measurable and comparable data in sustainability areas such as climate change, carbon footprint, social impact and governance practices.

Scope:
Banks and investment institutions

Financial holdings

Factoring, leasing and financing companies

Stock exchange listed companies

Large-scale enterprises (subject to TMS)

When is the TSRS Reporting Deadline?

Within the scope of TSRS, which entered into force as of January 2024, the reporting process is as follows:

In other words, the first report for banks will cover 2024 data and will be shared with the public in 2025 at the latest.

How to Prepare a TSRS-Compliant Sustainability Report?

1️⃣ Preparation and Awareness Phase
The internal team is informed about TSRS standards.

Top management support is provided.

The sustainability vision is determined.

2️⃣ Stakeholder and Priority Issue Analysis
Important sustainability issues specific to the bank are determined (carbon finance, women entrepreneurship loans, sustainable supply chain, etc.)

Expectations of internal and external stakeholders are analyzed.

3️⃣ ESG Data Collection
Environmental: Carbon footprint (ISO 14064), energy consumption, water use

Social: Gender equality, employee data, customer satisfaction

Governance: Ethical principles, audit structure, transparency reports

4️⃣ Alignment with Reporting Framework
TSRS-1 (General Principles and Reporting)

TSRS-2 (Climate-Related Information - Exempt for 2024)

Compliance with IFRS S1 and GRI is observed.

5️⃣ Monitoring and Creating Performance Indicators
Sustainability KPIs are defined.

Improvement and follow-up mechanisms are established.

Annual targets and realizations are monitored according to TSRS.

Why Should Banks Get Consultancy in Sustainability Reporting?

Compliance with TSRS is a technical process. Banks need expert support in many areas such as data accuracy, scope determination, strategy construction, audit compliance in this reporting.

Benefits to be Provided with Consultancy:
✔️ Complete compliance with TSRS is ensured
✔️ Corporate carbon footprint calculation support is received
✔️ ESG risks and opportunities are analyzed in detail
✔️ Transparent communication is established with international investors
✔️ Parallel structure is established to systems such as CDP, Ecovadis, SKDM