Turkey's Energy and Natural Resources Minister announced the national Emissions Trading System will launch next year, aligning with the EU's Carbon Border Adjustment Mechanism and reinforcing the country's commitment to combating climate change.
Turkey is taking a significant step in its environmental policy by setting up its national Emissions Trading System (ETS) to be operational next year. Alparslan Bayraktar, the Turkish Minister of Energy and Natural Resources, confirmed that the ETS would be managed by Enerji Pazarlamalari İşletme A.Ş. The move is in step with global efforts to combat climate change and aligns with the European Union's Carbon Border Adjustment Mechanism.
The ETS, which will be a key component of Turkey's broader Climate Law currently in draft form, is designed to put a price on carbon emissions, thereby incentivizing businesses to reduce their carbon footprint. The minister highlighted carbon pricing as one of the most crucial tools in the fight against climate change.
Acknowledging the ambitious goal of achieving zero carbon emissions by 2053, Mr. Bayraktar pointed out that such targets pose additional challenges for developing countries like Turkey. These challenges stem from balancing economic growth with environmental responsibilities.
The forthcoming Turkish ETS will encompass various sectors, including industry, energy, and civil aviation, indicating a comprehensive approach to addressing emissions. The system will likely involve the allocation of emission permits and the ability for companies to trade these permits, creating a market-driven approach to reducing greenhouse gases.
This development is part of Turkey's broader commitment to environmental sustainability and is expected to have a wide-reaching impact on how Turkish industries operate. By putting a price on carbon, the ETS aims to drive innovation and the adoption of cleaner technologies across the board.
With the planned implementation of its national Emissions Trading System next year, Turkey is positioning itself as a proactive participant in the global effort to address climate change. By introducing mechanisms for carbon pricing and aligning with international standards such as the EU's, Turkey is paving the way for significant environmental and economic reform, particularly in its industry, energy, and aviation sectors.