News

MidSEFF News Turkey

July 2021. Study on the implications of the EU Carbon Border Adjustment Mechanism (CBAM) on Turkey

The EU CBAM will have an impact on the relative competitiveness of products covered and hence on trade flows and the economic growth of exporting countries. The objective of this paper prepared by The European Roundtable on Climate Change and Sustainable Transition (ERCST) is to provide an understanding of the impact – in terms of additional tax burden – that an EU CBAM could potentially impose on Turkish exporters of selected carbon intensive products to the EU market. It covers the following tasks:

• Identify carbon-intensive exports from Turkey to the EU, likely to be covered by CBAM (cement, aluminum, steel, electricity);
• Assess CO2 emission volumes of carbon intensive products under consideration;
• Estimate the costs and competitiveness losses that could potentially be incurred by Turkey as the exporting country if CBAM was put in place.

To read more about this topic, please refer to this report .

December 2020. MRV in Turkey: Implications and Opportunities for Turkish Financial Institutions

The momentum for climate action is strengthening across the financial sector, with banks, insurance companies, and asset managers starting to embed climate change impacts into mainstream finance activities and investment decisions. Managing exposure to the various risks associated with climate change is a key motivation for financial institutions to adopt strategies, programmes and operations that prioritise climate. The consultant to MidSEFF prepared a roadmap to assist participating banks with the implementation of MRV at the institutional level. The objective of this roadmap is primarily to support the decision-making process by structuring the rationale for engagement in MRV and outlining the activities that need to be realised to achieve the desired outputs.

To read more about this topic, please refer to this note .

EBRD Carbon Markets News

December 2020. Leveraging ambition through carbon markets: Effectiveness of abatement action through international carbon markets

Carbon markets are starting to build further momentum and there is a groundswell of interest among private sector actors as evidenced by the newly formed Taskforce on Scaling Voluntary Carbon Markets, launched by Mark Carney. Now that the global COVID-19 pandemic is straining public finance and fuelling a rise in government debt, it is more important than ever to find the most cost-effective action to abate carbon emissions, and to increase the role of private finance in doing so, an EBRD paper published in December 2020 points out. This paper urges a broader uptake of carbon markets, which can help lower the cost of achieving mitigation targets and help countries ratchet up the ambitions set out in their NDCs to implement policies and practices that could limit global warming to 1.5 °C.

To read more about this topic, please refer to this report .

June 2020 . Modelling of Article 6 Implementation Scenarios: Significance for the EBRD regions

The EBRD is one of the key funders of a research project initiated by the International Emissions Trading Association (IETA) and the University of Maryland (UMD) to assess the potential global economic impacts and investment needs of Article 6 under different policy and collaboration scenarios. The Bank also commissioned a report that evaluates the potential impact of trading under Article 6 across the EBRD region and its countries of operation, which includes Turkey. The objective of this study was to evaluate the impact Article 6 collaboration can have on the cost efficiency of achieving the NDC goals of countries within this region and build on a quantification of investment needs under several alternative scenarios.

To read more about this topic, please refer to this report .