IMM has prepared a “Sustainable Finance Framework” for the purpose of using green financial instruments in the international capital markets. A “Second Party Opinion” has been obtained to confirm that the prepared Framework is reliable, impactful and aligns with the International Capital Market Association (ICMA) criteria. The Framework, which highlights environmental awareness and social benefit; can be used in green, social or sustainable bond, and sukuk transactions.
Istanbul Metropolitan Municipality has prepared a “Sustainable Finance Framework” for the use of financial instruments such as Environmental, Social and Governance (ESG) bonds in the international capital markets.
Thus, Istanbul Metropolitan Municipality became the first local government to prepare a “Sustainable Finance Framework” in Türkiye. ING acted as Sustainability Structuring Advisor, advising on the preparation of the framework.
The Sustainable Finance Framework, which aims at a development that is environmentally friendly and emphasizes social benefit; is intended to be used in potential green, social or sustainable bond, and sukuk transactions.
Within this scope, a “Second Party Opinion” has been obtained from a leading independent ESG assessment company Sustainalytics to confirm that the prepared framework is reliable, impactful and aligns with the International Capital Market Association (ICMA) principles.
The alignment criteria are as follows; Sustainability Bond Guidelines 2021, Green Bond Principles 2021 and Social Bond Principles 2021, as administered by ICMA; and Green Loan Principles 2023 and Social Loan Principles 2023, as administered by Loan Market Association (LMA), Asia Pacific Loan Market Association (APLMA) and Loan Syndications & Trading Association (LSTA).
The relevant documents can be found at the following link:
-Sustainable Finance Framework
Respectfully announced to the public.
