The Green Deal Will Bring Fundamental Change to Many Sectors

Green Deal to Bring Fundamental Changes Across Many Sectors The green economy framework requires fundamental change across all sectors, while manufacturers' compliance with the Green Deal is critical for Turkey to maintain sustainable exports. The online meeting titled "Adapting to the Green Deal: Where Are We in the Transformation?" brought together government and private sector representatives and experts. Speaking at the meeting, European Union Delegation to Turkey Head Nikolaus Meyer-Landrut described the ratification of the Paris Agreement by the Turkish Parliament as an extremely welcome development, saying, "The next few years are critical. If we want to reduce emissions by 55 percent by 2030, we need to act today. The Fit for 55 package announced by the EU is a crucial package that Europe is working on." Meyer-Landrut stated that carbon emissions will be priced in the EU, incentives will be provided to reduce carbon emissions, and that the objective is to establish a good carbon system globally, with high energy-consuming and high-carbon-emitting sectors selected for carbon border adjustment. Noting that if carbon emissions are priced in Turkey, there would be no need to pay carbon tax in Europe, Meyer-Landrut conveyed that if carbon pricing in Turkey is lower than in Europe, carbon border adjustment would come into question. Istanbul Chamber of Industry (İSO) President Erdal Bahçıvan stated that Turkey's ratification of the Paris Agreement would contribute to the roadmap adopted internationally, saying, "We see that we have entered a path of no return. As manufacturers, alongside our own businesses, within the framework of our responsibilities toward humanity, we aim to play a leading role in sustainability. We have an industrial sector with a strong export structure, and particularly the momentum coming from the EU plays an important role in transforming our manufacturers toward sustainable production practices."

Digital Transformation Strategy to Be Announced in Coming Days

Presidency Digital Transformation Office International Relations Department Head Safa Uslu stated that Turkey wants to strengthen international cooperation to fully implement the Green Deal and will publish a digital transformation strategy document in the coming period. Describing the Green Deal as an opportunity for Turkey despite its challenges, Uslu emphasized that energy efficiency, cogeneration, renewable energy and energy savings will play important roles in green transition. Turkey Economic Policy Research Foundation (TEPAV) Founding Director Güven Sak drew attention to the importance of timing in the measures to be taken, saying, "For Turkey's compliance with carbon border adjustment, how and when we design an emissions trading system will be very important. Going forward, we need to discuss how just transition will take place, engage all stakeholders in the discussion process, and prepare a plan on how we can reduce emissions."

Sak, underscoring that this transformation will be capital-intensive, said:

"We need to think about how financing, including foreign capital, will be secured. There is a need for a global financing mechanism. We need to think about how the large amounts of savings accumulated at negative interest rates in the West can be transferred to countries like Turkey."