Türkiye joins Open Coalition for Compliance Carbon Markets
Turkey joined the Open Coalition for Carbon Markets at the COP29 summit in Baku, strengthening international cooperation in the field of carbon markets. This participation aligns with the EU's strategy to accredit a domestic ETS (Electronic Trade System) in opposition to a border carbon tax.
Turkey officially joined the Open Coalition for Compliance Carbon Markets at the COP29 climate summit in Baku, an organization aiming to share international experiences in carbon markets and pricing mechanisms. According to a statement from the Presidency of Climate Change, the coalition aims to increase cooperation among member countries in technical areas such as monitoring, reporting, and verification (MRV) systems and carbon accounting.
Compliance with Article 6 of the Paris Agreement is a priority.
The coalition's main objectives include the creation of mandatory carbon markets, ensuring interoperability between different markets, and developing carbon accounting systems compliant with Article 6 of the Paris Agreement. While Turkey has been active in voluntary carbon markets such as Gold Standard and VCS, this step signifies the harmonization of its technical infrastructure with international standards during the transition to mandatory markets.
Türkiye's participation in the coalition aligns with the goal of establishing a national Emissions Trading System (ETS) compatible with the Border Carbon Adjustment Mechanism (BCRM) of the European Union.
According to statements made by the Ministry of Trade within the scope of the Green Deal studies, Turkey's participation in the coalition strategically aligns with its goals of establishing a national Emissions Trading System (ETS) compatible with the Border Carbon Adjustment Mechanism (BCRM). Turkey is currently working on a draft Climate Law to establish its own ETS. This participation is considered part of an effort to integrate the domestic carbon market into international standards and prevent Turkish exporters from paying carbon taxes at the border.
The coalition's secretariat has not yet publicly shared a concrete work schedule and data sharing protocols to be signed between member states. Experts state that this step is a crucial component of Türkiye's strategy to accredit its national emissions trading system to international markets and protect exporters from EU carbon taxes.
This article was produced with the assistance of AI tools and reviewed by an editor before publication.
