Turkey's Green Taxonomy Regulation Published in the Official Gazette
The green taxonomy legislation, which will facilitate the transition to a low-carbon economy and access to international funds, has entered into force.
The Turkey Green Taxonomy Regulation, prepared by the Climate Change Directorate affiliated with the Ministry of Environment, Urbanization and Climate Change, has been published in the Official Gazette. This step will enable industrialists to secure a larger share of international green financing.
Purpose and Scope of the Regulation
The Turkey Green Taxonomy Regulation, prepared by the Climate Change Directorate affiliated with the Ministry of Environment, Urbanization and Climate Change, covering 16 sectors and 137 economic activities, has been published in the Official Gazette. The regulation was implemented to facilitate the transition to a low-carbon economy and to comply with the European Union's climate change standards and policies.
Green Deal and Transparency
Prepared within the framework of the Green Deal Action Plan published in 2021, the regulation will provide a common language and evaluation criteria that increase transparency and prevent the risk of greenwashing.
Six Environmental Objectives Determined
Six objectives have been established for economic activities: mitigation of greenhouse gas emissions, adaptation to climate change, sustainable use of water and marine resources, transition to a circular economy, prevention of pollution, and protection of biodiversity and ecosystems.
Three General Conditions for Compliance
For an activity to be considered aligned, it must simultaneously meet the conditions of making a substantial contribution, doing no significant harm, and minimum social safeguards.
Agriculture and Tourism Included
Unlike the EU taxonomy, technical screening criteria were expanded to include the agriculture and tourism sectors due to Turkey's structural characteristics.
Reporting Schedule and Obligation
Mandatory reporting for the financial sector will begin on January 1, 2029, while the process for the real sector is based on a voluntary basis.