MidSEFF Carbon Market Development Support Programme

The aim of this EBRD project is to contribute to the development of the Turkish Carbon Market. This includes sharing information related to on-going carbon market developments and supporting the activities and services included within the framework of the Mid-size Sustainable Energy Financing Facility (MidSEFF). The facility is set up to improve energy efficiency and renewable energy measures in Turkey.

As part of MidSEFF, a dedicated carbon market development programme has been launched. The aim of this programme is developing and promoting the participation of Turkish banks and companies in carbon markets in Turkey and abroad. EBRD Shareholder Special Fund has provided the funding for this carbon market development programme.

This project will help to further strengthen Turkish interest in carbon pricing and the carbon markets by building capacity at three levels:

National Support: capacity building and policy dialogue

The consultant under MidSEFF supports carbon market development in Turkey by promoting initiatives that can further increase participation of sovereign and private sector actors in the (domestic) carbon market. One such initiative is the Climate Stars programme designed to support companies in different sectors with carbon neutrality.

To read more about the supported national activities, please click here.


Carbon Project Support: support for developing, registration and monetisation

The consultant also provides technical assistance to renewable energy and energy efficiency projects financed under MidSEFF. This support includes carbon asset development and monetisation of the generated carbon credits. As of mid-2016, consultants are supporting the development of five ‘carbon projects’. Under the MIDSEFF programme, there are a further 28 carbon projects currently being developed by third parties.

To read more about the supported project activities, please click here.

Bank Support: developing Turkish banks’ carbon market services

Banks are in a strong position to offer services aimed at helping existing and new clients manage both the risks and opportunities created by international and domestic carbon markets. The consultant under MidSEFF supports capacity building through engaging and training Turkish partner banks on available carbon market services, including project finance, centre of competence, trading and brokerage, issuance of green bonds and credit cards.

To read more about supported banking activities, please click here.

MidSEFF

MidSEFF is a finance facility developed by the EBRD with support from the European Investment Bank (EIB) and European Union (EU). As of 2016, about € 1.5 billion in credit lines has been provided to Turkish partner banks under the facility for on lending to private sector borrowers. This credit is used to finance mid-size investments (€ 10 – 50 million) in Turkish renewable energy, waste-to-energy and industrial energy efficiency projects. The following seven Turkish banks are currently benefitting from the facility: Akbank, Denizbank, Finansbank, Garanti, Isbank, Vakifbank and Yapi Kredi. To find out more about MidSEFF, please click here.

Disclaimer: Neither this website, nor any part thereof, including, without limitation, any information, opinion, advice or recommendation contained therein, is intended to constitute specific technical, financial, commercial or legal advice and nothing therein purports in any manner to replace professional advice. No express or implied warranties are made with regard to this report, and there are no third party beneficiaries thereof. Neither the European Bank for Reconstruction and Development, Climate Focus, Gaia Carbon Finance, nor any of their directors, officers, employees, shareholders or agents can be held liable for any errors, omissions or inaccuracies this website may contain.