TSRS/IFRS Consultancy
IFRS S1 and IFRS S2 are global standards published by the International Sustainability Standards Board (ISSB) that enable companies to disclose their sustainability-related financial information in a consistent, comparable, and reliable manner. In Turkey, the adapted version of these standards, known as the Turkey Sustainability Reporting Standards (TSRS), has come into effect as of 2024 and requires companies to transparently report their environmental, social, and governance (ESG) performance.
These standards aim to integrate sustainability into financial reporting and to help companies present all ESG risks and opportunities, particularly regarding climate change, along with their financial impacts. Compliant reporting with IFRS/TSRS offers significant advantages to enhance international competitiveness, attract investments, and build stakeholder trust.
Key Components of IFRS/TSRS Reporting
Governance: Company's sustainability management and auditing structure
Strategy: Integration of sustainability risks and opportunities into business strategy
Risk Management: Identification, assessment, and management of ESG risks
Metrics and Targets: Indicators used for measuring and monitoring sustainability performance and predetermined targets
TSRS is based on the ISSB’s IFRS S1 and S2 standards. Compliance with these standards for companies operating in Turkey is both a legal requirement and a strategic opportunity to create long-term value.
Life Climate by Your Side in the IFRS/TSRS Reporting Process
The IFRS/TSRS reporting process can be complex and detailed. As Life Climate, we provide comprehensive consulting services to ensure that your company is thoroughly and effectively prepared for this new era:
TSRS S1/S2 training and awareness activities
Materiality analyses
Financial impacts of climate risks and opportunities
Financial impacts of sustainability risks and opportunities
Establishment of data collection and reporting infrastructure
Preparation of sustainability report and readiness for assurance process
Continuous improvement and performance monitoring
Contact our expert team for transparent and reliable sustainability reporting in compliance with the TSRS S1/S2 standards, which will become mandatory by 2025; let’s prepare your company for the future together.
