Is Your Sustainability Report Ready? Deadline: 31 October 2025
Is Your Sustainability Report Ready? Deadline: 31 October 2025
Is Your Sustainability Report Ready? Deadline: 31 October 2025
Sustainability Report services Turkey
For decades, businesses in Turkey have been accustomed to explaining themselves primarily through financial statements. Profit and loss accounts and balance sheets have long been the standard tools of corporate communication. But the era of purely financial disclosure is over. Today, investors, regulators, and financial institutions demand more. They expect companies to provide a transparent view of their environmental and social performance alongside their financial data.
Against this backdrop, the Turkey Sustainability Reporting Standards (TSRS) entered into force on 1 January 2024. For companies reporting under TSRS for the first time, one crucial deadline is fast approaching: 31 October 2025.
This date represents the extended deadline for publishing sustainability reports covering the 2024 financial year. In plain terms: if your company fails to publish a TSRS-compliant sustainability report by this date, you may face both regulatory non-compliance and significant reputational risks.
TSRS and Global Regulatory Alignment
What Is TSRS?
The Turkey Sustainability Reporting Standards (TSRS) were issued by the Public Oversight, Accounting and Auditing Standards Authority (KGK). Their purpose is to ensure that companies in Turkey disclose their Environmental, Social, and Governance (ESG) performance in a standardized, comparable, and reliable manner.
Alignment with the EU CSRD
TSRS is closely aligned with the European Union’s Corporate Sustainability Reporting Directive (CSRD). This alignment means TSRS reports are not only accepted domestically but also credible in the eyes of global investors. For companies doing business with international stakeholders, this harmonization is a game-changer.
Which Companies Are Covered?
TSRS reporting is mandatory for companies meeting certain size thresholds, including:
A turnover exceeding defined limits
A specified number of employees
Listed entities on capital markets
However, companies outside these thresholds may voluntarily publish sustainability reports. Voluntary reporters often enjoy competitive advantages—particularly in bank financing, foreign investment negotiations, and corporate reputation management.
The Critical Deadline: 31 October 2025
Why Does It Matter?
The 31 October 2025 deadline represents the one-time extension granted for companies publishing their first TSRS-compliant reports for the 2024 financial year. Beyond this, there will be no further extensions, and strict timelines will apply.
Special Fiscal Periods
Companies with non-calendar fiscal years must publish their reports within 10 months of their fiscal year end. Careful calculation of this timeline is essential to avoid inadvertent breaches.
A One-Time Opportunity
This extension was granted solely because 2024 marks the inaugural year of TSRS reporting. Moving forward, deadlines will be non-negotiable.
What Goes Into a TSRS Sustainability Report?
A TSRS-compliant report cannot be a collection of generic statements. It must include structured data and disclosures across key categories:
Environmental Indicators
Carbon footprint
Water consumption
Energy efficiency metrics
Waste management policies
Social Indicators
Employee rights and diversity
Occupational health and safety
Training and workforce development
Supply chain responsibility
Governance Indicators
Board composition and oversight
Ethics and compliance frameworks
Transparency and disclosure practices
These disclosures paint a holistic picture of not only your current performance but also your long-term resilience and risk exposure.
Common Challenges in TSRS Reporting
Data Collection
The most significant challenge companies face is consolidating fragmented data—especially environmental indicators such as carbon and water footprint measurements.
Internal Coordination
Finance, HR, operations, and sustainability teams must collaborate effectively. Poor coordination undermines the accuracy and credibility of the final report.
Technical Format Requirements
TSRS prescribes strict reporting formats. Companies unfamiliar with these technical requirements risk issuing non-compliant reports.
Auditability and Transparency
Published reports must withstand scrutiny from both regulators and investors. Incomplete or misleading disclosures can result in severe reputational damage.
The Risks of Non-Compliance
Regulatory Risk: Non-compliance with TSRS may lead to administrative or legal sanctions.
Reputational Damage: Investors, partners, and customers lose trust in companies that fail to disclose transparently.
Financing Risk: Banks are increasingly reluctant to provide credit to companies lacking credible sustainability reports.
Competitive Disadvantage: International markets increasingly treat sustainability reporting as a prerequisite for doing business.
A Roadmap for Preparing Your Report
Establish a Sustainability Task Force
Include representatives from finance, operations, HR, and legal to ensure cross-functional coordination.Implement a Data Management System
Set up systems to measure and track carbon emissions, energy consumption, and water usage on a regular basis.Conduct a Preliminary Reporting Exercise
Run a “trial report” to identify data gaps and process inefficiencies before preparing the final report.Prepare the Final TSRS-Compliant Report
Ensure the final report is comprehensive, audit-ready, and aligned with TSRS technical requirements.
Strategic Advantages of TSRS Reporting
Access to Global Markets: TSRS alignment with CSRD ensures credibility with EU investors.
Improved Financing Opportunities: Banks favor companies with transparent ESG disclosures.
Competitive Edge: Early adopters of sustainability reporting gain reputational and operational advantages.
Enhanced Corporate Reputation: Transparent ESG practices strengthen trust among employees, clients, and stakeholders.
Professional Support: Prepare Your Report with Us
At Özmen Certified Public Accountancy, we guide businesses through every stage of TSRS compliance. Our services include:
Data collection and ESG metrics analysis
Preparation of TSRS-compliant sustainability reports
Compliance checks and risk assessments
The deadline is 31 October 2025. Is your sustainability report ready?
Contact us today to safeguard your compliance and reputation with a fully prepared TSRS report.
Frequently Asked Questions
1. Which companies are required to report under TSRS?
Companies exceeding certain size and financial thresholds, as defined by law.
2. What happens if my company does not publish a report?
You risk regulatory penalties, reputational damage, and reduced investor confidence.
3. Will there be further extensions?
No. The 31 October 2025 extension is a one-time allowance.
4. What topics must be covered?
Environmental, social, and governance disclosures, aligned with TSRS standards.
Conclusion
Sustainability reporting is no longer optional—it is a legal obligation and a strategic necessity. The deadline of 31 October 2025 is more than a compliance requirement; it is a turning point for businesses to demonstrate transparency, resilience, and responsibility.
A TSRS-compliant report will position your company ahead of competitors, attract global investors, and secure financing under increasingly stringent ESG expectations.
Do not wait. Begin your reporting process today. Partner with us to ensure your company is fully compliant, transparent, and strategically positioned for the future
info@ozmconsultancy.com
