Escarus Elected as Member of the Advisory Council of "Green Bond Principles"
TSKB Sustainability Consultancy Inc.-Escarus was elected as member of the 2019-2020 Advisory Council of the Green Bond Principles (GBP). Created to offer a broader perspective on green, social and sustainable bond markets, provide advice through suggestions and feedback, and promote member interaction, the Advisory Council consists of 40 representatives, including Escarus, which are globally-recognized companies in the field of green bonds.
Stating that the elected representatives are evaluated within the framework of criteria including their activities in the green bond market and their contributions to the GBP, Escarus General Manager Kubilay Kavak, PhD, added "Also a member of the Advisory Council, Escarus is the only member of GBP from Turkey. This accomplishment was made possible by our different approach to consulting as well as our new perspective to the existing practices, and is very flattering. Upon taking on this new responsibility, Escarus is committed to continue supporting the sustainable development of the Turkish economy as it has been doing so far."
The new generation consulting perspective and the philosophy of creating added value brought success
Reiterating that Escarus, which started its activities in April 2011, is a TSKB subsidiary serving to provide consulting services and integrate internationally-recognized environmental and sustainable approaches into the Turkish business world by developing sustainability solutions with its experienced and professional staff, Kavak went on to say that: “We approach all projects from a 'next generation consulting' perspective and proceed with the 'creating added value' approach from the beginning to the end of the project. We undertake innovative and pioneering projects with our professional specialist staff. We implement high value-added consulting solutions that support sustainable development in finance, energy and industry and increase technical and business efficiency in the said categories. On our way to become a pioneering consulting firm in Turkey's sustainable development, we conduct our activities under the categories of Operational Sustainability, Strategic Sustainability, Sustainable Finance, and Research/Reporting. So far, we have completed various projects in Qatar, Lebanon, Egypt, Kenya, Senegal and Cameroon, covering a significant distance towards our goal of being able to export our services.”
Escarus becomes the only Turkish company to be a member of GBP’s Advisory Council.
Many applications have been made this year to the Advisory Council, which has been created to provide information and guidance to and advise the GBP Executive Committee through suggestions and feedback on green, social and sustainable bond markets as well as to support member interaction. Applicants were considered using criteria such as their activities in the green bond market and their contributions to the GBP. In 2019-2020, Escarus was elected from among 8 companies in the same field, qualifying to be a member of the Advisory Board.
Composed of diverse members from international financial institutions, consulting firms, law firms, rating agencies and the public sector, Escarus has been the only Turkish member of the GBP and the Advisory Council.
The Green Bond Principles (GBP), which was developed in 2014 by a group of financial institutions and banks, is a set of standards developed to guide issuers and investors in the green bond market. The GBP secretariat develops framework principles setting the basic criteria for the creation of green, social and sustainable bonds, and conducts studies in the field of impact reporting and indicator development for green and social bonds. As a member of the GBP since 2016, Escarus is a participant of the New Markets Working Group of the GBP. During this time, Escarus assumed the task of translating the Green Bond Principles into Turkish.