Escarus Provided the Second Party Opinion for Turkey's First Sustainable Sukuk
Sustainable sukuk framework of Zorlu Energy – who operates in electricity generation, electricity and gas distribution, wholesale and trade in the energy sector – includes sustainable infrastructure and clean transportation project areas as well as renewable energy projects. ”
Development and diversification of sustainability-themed financial products and services holds importance for the development of sustainable finance in Turkey. Green sukuk practices have gained ground in Southeast Asia; however, there has been no sustainable sukuk issuance in Turkey yet. With this perspective, Escarus undertook a first practice in Turkey with the second party opinion it provided.