With an aim to encourage financing of eco-friendly investments, the "Green Bond and Green Sukuk Workshop" was held on 28-30 June 2021 with the cooperation of the Capital Markets Board (“CMB” or “Board”) and the World Bank. Following this Workshop, the CMB published the CMB Green Bond, Sustainable Bond, Green Sukuk and Sustainable Sukuk Guideline (“Guideline”) with the objectives of increasing the issuance of green bonds and green sukuk, strengthening investor confidence by transparency and external evaluation obligations and diversifying investment opportunities in projects that contribute to sustainable development.

The purpose of the Guideline is to carry out the issuance of green debt instruments, sustainable debt instruments, green sukuk and sustainable sukuk in accordance with the best practices and standards in international markets, to protect investors in financing green projects that would contribute to environmental sustainability and to increase transparency, integrity, consistency and comparability. For such purpose, it is envisaged that the Green Bond Principles prepared by the International Capital Markets Association (ICMA) will be taken as a basis.

Within the scope of the Guideline, the following topics are regulated:

• Green Debt Instruments, Sustainable Debt Instruments, Green Sukuk, Sustainable Sukuk and principles, obligations and core components related thereon
• Use and management of funds
• Green projects, evaluation, and selection process of projects
• Reporting, external evaluation

Pursuant to the Guideline, domestic issuance of blue debt instruments, which are being issued in international markets within the framework of ICMA’s Green Bond Principles, will also take place in line with the core components specified in the Guideline.