Turkey's Green Taxonomy Regulation Entered Into Force and New Criteria Established
Prepared to classify sustainable investments and prevent greenwashing practices, the Turkey Green Taxonomy Regulation has been published in the Official Gazette.
Prepared with the aim of classifying sustainable investments in Turkey, promoting green finance, and preventing greenwashing practices, the Turkey Green Taxonomy Regulation has entered into force.
Basic Framework and Objectives of the Regulation
Published in the Official Gazette dated September 24, 2026, and numbered 33380, the regulation established the basic framework of the Turkey Green Taxonomy and determined six environmental objectives.
The reduction of greenhouse gas emissions, climate change adaptation, sustainable use of water and marine resources, transition to a circular economy, prevention of pollution, and biodiversity were included among the objectives.
Three Conditions for Compliant Activities
For an economic activity to be considered compliant, it will be required to meet three fundamental conditions together, and production activities using solid fossil fuels will be excluded from the scope.
The activity will make a substantial contribution to at least one environmental objective, will not cause significant harm to other environmental objectives, and will comply with minimum social safeguards.
Reporting Obligation for Financial Institutions
Banks, intermediary institutions, investment partnerships, portfolio management companies, as well as insurance, reinsurance, and pension companies will be obligated to report within the scope of the taxonomy.
According to the transitional provision, these financial institutions will not be required to make taxonomy reporting until January 1, 2029, and the reports will be uploaded to the Online Taxonomy Management System.
Sectors in Scope and Transition Activities
The annex list of the regulation included the forestry, manufacturing, energy, water and waste management, transportation, construction, information and communication, finance, agriculture, and tourism sectors.
While a portion of fields such as cement, aluminum, iron-steel, and hydrogen were classified as transition activities, technical criteria were introduced against greenwashing practices.