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3/31/2022

EKO Climate Summit (I)

Environment, Urban Development and Climate Change Minister Kurum, Industry and Technology Minister Varank, Mayor of Metropolitan Ankara Yavaş, Mayor of Metropolitan Gaziantep Şahin and President of the Union of Chambers & Commodity Exchanges of Turkey (TOBB) M. Rıfat Hisarcıklıoğlu shared their evaluations and targets regarding climate and environmental targets…

EKO Climate Summit – Economy and Climate Change Summit and Trade Fair organized with the baseline “carbon neutral” was started on March 30, 2022 at “Ankara ATO Congresium” to “prepare for global arrangements on issues of climate change and green transition in the most accurate and rapid manner and to achieve a collective wisdom to fight against climate change and to minimize its effects on the economy”.

Environment, Urban Development and Climate Change Minister Murat Kurum participating the summit by means of a video conference disclosed the 7 significant headings that stand out specific to the economy and climate following the Climate Council Meeting as follows: “We will conclude the ‘National Green Finance Strategy’ until the end of 2023 which is required for the net zero emission target for the year 2053. We will form the Climate-Finance Study Group consisting of the public, the private sector and scholars before the first half of 2022 is over. The ‘Climate-Finance Study Group’ will set forth the criteria regarding financing means and incentives required by sectors and will prepare a special guide. We will also constitute an infrastructure conforming to international standards in relation with green credits, green funds and green leasing practices until the beginning of 2024. We want to carry the financing means for green and sustainable investments to the highest level. In this respect, we will develop green bonds, leasing certificates and other financial instruments at the national scale. We will protect the fragile sectors that are vulnerable to the effects of climate change. We will constitute a National Emission Trade System to be in conformity with the European Green Deal. We will also support the clean production of our industrialists with revenues to be generated by the carbon pricing mechanism.”

Also, Industry and Technology Minister Mustafa Varank was quoted as follows: “We are carrying out all preparations to conform to the European Green Deal. We will continue to implement the transition that will lead the way for fundamental changes in our investment, production, employment and export policies in line with our economic development.”

Mayor of Metropolitan Ankara Mansur Yavaş on the other hand spoke as follows including the statement “An economic loss of $ 23 trillion is expected to be confronted in 2050 in case no measures are taken in the issue of climate change”: “Our industrialists and farmers having undertaken a pioneering role in exports to the European Union will soon be subject to the border carbon tax in line with the green deal approach. Investing in green transition as soon as possible instead of paying taxes to the EU at the border will both develop our national technology and will also enhance employment opportunities.”

Also, Mayor of Metropolitan Gaziantep Fatma Şahin stating that means of transport will definitely have to be woven on rails, said that they are about to complete Gaziray and the “made in Turkey” train will be operated in Gaziantep.

Union of Chambers & Commodity Exchanges of Turkey (TOBB) M. Rıfat Hisarcıklıoğlu stating that the current year will be year of greening in the financial system, said “Studies conducted by the EU on the taxonomy of green investment standards will shape up the process. It will become clear what type of investments will be green and supportable and which will be beyond the scope of incentives. The access of green investments to the financial system will become cheaper and easier. Banks from now on will be demanding the documentation of carbon and water footprints from companies.” Hisarcıklıoğlu said that they are preparing their policy recommendations regarding issues such as greenhouse gas reductions, production and use of green hydrogen, electric cars, green finance, carbon pricing and emission trading system design.