The role of the global financial sector on the 10th anniversary of the Paris Climate Agreement: An evaluation of EU and Türkiye experiences
Yıl 2025,
Cilt: 52 Sayı: 1, 45 - 68, 30.06.2025
Asli Aydin Gok
,
Alp Erinç Yeldan
Öz
Ten years after the Paris Agreement, it is evident that insufficient progress has been made in the fight against climate change. Based on observations of the shrinking carbon budget and the failure to prevent global warming, this article aims to discuss the role and responsibilities of the financial sector. Our calculations based on international data and Input-Output analysis demonstrate that credit allocations of the financial sector in Turkey are concentrated in sectors with high carbon pollution, thereby limiting the effectiveness of the green transition designs envisioned in the industrial and energy sectors.
Destekleyen Kurum
TUBITAK
Kaynakça
-
Kaynaklar
ACAR, S., VOYVODA, E., & YELDAN, A. E. (2018), "Macroeconomics of Climate Change in a Dualistic Economy: A Regional Computable General Equilibrium Analysis", London: Academic Press & Elsevier.
-
ALAMI, I., ALVES, C., BONIZZI, B., et al. (2023), "International financial subordination: a critical research agenda", Review of International Political Economy, 30(4), 1360-1386.
-
BAINES, J., & HAGER, S. B. (2023), "From passive owners to planet savers? Asset managers, carbon majors and the limits of sustainable finance", Competition & Change, 27(4), 449-471.
-
BARCA, Stefania (2024) Workers of the Earth: Labour, Ecology and Reproduction in the Age of Climate Change, Pluto Press.
-
BRACKING, S., & LEFFEL, B. (2021), "Climate finance governance: fit for purpose?", WIREs Climate Change, 12(4), 1-18.
-
CARNEY, M. (2015), "Breaking the tragedy of the horizon–climate change and financial stability", Lloyd's of London söyleşisi, Bank of England.
-
CHAMBERLAIN, J., & BERNARDS, N. (2024), "Insurance and the Contradictions of the Climate-Development-Finance Nexus: The Case of the African Risk Capacity", Competition & Change.
-
COOIMAN, F. (2023), "The limits of derisking. (Un)conditionality in the European green transformation", Competition & Change.
-
ERCST (European Roundtable on Climate Change and Sustainable Transition) (2024) Future of emissions trading in the EU: Role of Emissions Trading in EU Climate Policy, (With lead authors: Andrei Marcu, Juan Fernando López Hernández, Alexandra Maratou, Pauline Nouallet, and Nigel Caruana)
-
EUROSTAT. (2025). Energy intensity of the economy [nrg_ind_ei]. European Commission. https://ec.europa.eu/eurostat/databrowser/view/nrg_ind_ei/default/table?lang=en
-
GABOR, D. (2021), "The wall Street consensus", Development and Change, 52(3), 429-459.
-
GUARDIAN. (2019), "Bank of England boss says global finance is funding 4C temperature rise".
-
IEA. (2017). World Energy Outlook 2017. IEA, Paris. https://www.iea.org/reports/world-energy-outlook-2017. Licence: CC BY 4.0
-
IEA. (2023a) World Energy Investment 2023, Paris: IEA.
-
IEA. (2023b) Net Zero Emissions by 2050: A Roadmap for the Global Energy Sector. Paris: IEA.
-
IPCC. (2018) Global Warming of 1.50C. Geneva.
-
IPCC (2022) Climate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [P.R. Shukla, J. Skea, R. Slade, A. Al Khourdajie, R. van Diemen, D. McCollum, M. Pathak, S. Some, P. Vyas, R. Fradera, M. Belkacemi, A. Hasija, G. Lisboa, S. Luz, J. Malley, (eds.)]. Cambridge University Press, Cambridge, UK and New York, NY, USA.
-
LEONTIEF, W. (1936), "Quantitative input-output relations in the economic system of the United States", Review of Economics and Statistics, 18(3), 105-125.
-
MILLER, R. E., & BLAIR, P. D. (2009), Input-Output Analysis: Foundations and Extensions, Cambridge: Cambridge University Press.
-
NARAN, B., CONNOLLY, J., ROSANE, P., et al. (2024), "Global landscape of climate finance", Climate Policy Initiative.
-
NEWELL, P (2021) Power Shift: The Global Political Economy of Energy Transitions UK: Cambridge University Press.
-
OECD (2024) The Environment At A Glance, Dashboard.
-
https://www.oecd.org/en/data/dashboards/environment-at-a-glance.html Erişim tarihi: 21 Haz. 2025.
-
RAINFOREST ACTION NETWORK. (2019), Banking on Climate Change: Fossil Fuel Finance Report 2019, San Francisco: Rainforest Action Network.
-
SHARMA, S. E., & BABIC, M. (2025), "Introduction: The international political economy of green finance", Competition & Change, 0(0), 1-20.
-
STEFFEN, B. (2021), "A comparative analysis of green financial policy output in OECD countries", Environmental Research Letters, 16(7), 074031.
-
TÜRKİYE BANKALAR BİRLİĞİ. (2023). https://www.tbb.org.tr/pdf/faaliyetler/116/774
-
TÜRKİYE CUMHURİYETİ ÇEVRE, ŞEHİRCİLİK VE İKLİM DEĞİŞİKLİĞİ BAKANLIĞI. (2023). Türkiye Cumhuriyeti Güncellenmiş Birinci Ulusal Katkı Beyanı. https://iklim.gov.tr/db/turkce/dokumanlar/turkiye-cumhuriyeti--8230-102-20230512125223.pdf[CT1]
-
UNITED NATIONS ENVIRONMENT PROGRAM (UNEP) (2019) Emissions Gap Report 2019. Geneva.
-
VAN DER ZWAN, N., & VAN DER HEIDE, A. (2024), "Investors as members in transnational sustainable finance initiatives: Collectors, mediators and performers", Competition & Change.
-
VOYVODA, E., & YELDAN, A. E. (2015), "Low carbon development pathways and priorities for Turkey", WWF-Turkey & Istanbul Policy Center.
-
YELDAN, A. E. (2023), "Turkey: Challenges and Strategies Towards De-Carbonization and Sustainable Development Under the Age of Finance", Japanese Political Economy, 49(2-3), 183-211.
Paris İklim Anlaşmasının 10. yılında küresel finans sektörünün konumu: AB ve Türkiye deneyimlerinin değerlendirilmesi
Yıl 2025,
Cilt: 52 Sayı: 1, 45 - 68, 30.06.2025
Asli Aydin Gok
,
Alp Erinç Yeldan
Öz
Paris Taraflar Konferansının on yıl ardından, iklim değişikliği ile mücadele üzerine yeterli kazanımın sağlanmadığı görülmektedir. Bu yazı, giderek daralan karbon bütçesi ve küresel ısınmanın engellenememesi gözlemlerine dayanarak, finans sektörünün rolünü ve yükümlülüklerini tartışmayı amaçlamaktadır. Uluslararası verilere ve Girdi-Çıktı analizine dayalı hesaplamalarımız, Türkiye’de finans kesiminin kredi tahsisatlarının karbon kirliliği yüksek olan sektörlerde yoğunlaşmakta olduğunu ve bu nedenle sanayi ve enerji sektörlerinde öngörülen yeşil dönüşüm tasarımlarının da etkinliğini sınırladığını göstermektedir.
Destekleyen Kurum
TÜBİTAK
Teşekkür
Bu çalışma TÜBİTAK 1001 Projeleri destekleme kapsamı dahilinde İklim Değişikliği İle Mücadelede Finans Sektörünün Rolü başlığı altında, 124K846 proje numarasıyla desteklenmiştir. Yazarlar TÜBİTAK’a sağlanan araştırma desteği için teşekkür borçludur.
Kaynakça
-
Kaynaklar
ACAR, S., VOYVODA, E., & YELDAN, A. E. (2018), "Macroeconomics of Climate Change in a Dualistic Economy: A Regional Computable General Equilibrium Analysis", London: Academic Press & Elsevier.
-
ALAMI, I., ALVES, C., BONIZZI, B., et al. (2023), "International financial subordination: a critical research agenda", Review of International Political Economy, 30(4), 1360-1386.
-
BAINES, J., & HAGER, S. B. (2023), "From passive owners to planet savers? Asset managers, carbon majors and the limits of sustainable finance", Competition & Change, 27(4), 449-471.
-
BARCA, Stefania (2024) Workers of the Earth: Labour, Ecology and Reproduction in the Age of Climate Change, Pluto Press.
-
BRACKING, S., & LEFFEL, B. (2021), "Climate finance governance: fit for purpose?", WIREs Climate Change, 12(4), 1-18.
-
CARNEY, M. (2015), "Breaking the tragedy of the horizon–climate change and financial stability", Lloyd's of London söyleşisi, Bank of England.
-
CHAMBERLAIN, J., & BERNARDS, N. (2024), "Insurance and the Contradictions of the Climate-Development-Finance Nexus: The Case of the African Risk Capacity", Competition & Change.
-
COOIMAN, F. (2023), "The limits of derisking. (Un)conditionality in the European green transformation", Competition & Change.
-
ERCST (European Roundtable on Climate Change and Sustainable Transition) (2024) Future of emissions trading in the EU: Role of Emissions Trading in EU Climate Policy, (With lead authors: Andrei Marcu, Juan Fernando López Hernández, Alexandra Maratou, Pauline Nouallet, and Nigel Caruana)
-
EUROSTAT. (2025). Energy intensity of the economy [nrg_ind_ei]. European Commission. https://ec.europa.eu/eurostat/databrowser/view/nrg_ind_ei/default/table?lang=en
-
GABOR, D. (2021), "The wall Street consensus", Development and Change, 52(3), 429-459.
-
GUARDIAN. (2019), "Bank of England boss says global finance is funding 4C temperature rise".
-
IEA. (2017). World Energy Outlook 2017. IEA, Paris. https://www.iea.org/reports/world-energy-outlook-2017. Licence: CC BY 4.0
-
IEA. (2023a) World Energy Investment 2023, Paris: IEA.
-
IEA. (2023b) Net Zero Emissions by 2050: A Roadmap for the Global Energy Sector. Paris: IEA.
-
IPCC. (2018) Global Warming of 1.50C. Geneva.
-
IPCC (2022) Climate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [P.R. Shukla, J. Skea, R. Slade, A. Al Khourdajie, R. van Diemen, D. McCollum, M. Pathak, S. Some, P. Vyas, R. Fradera, M. Belkacemi, A. Hasija, G. Lisboa, S. Luz, J. Malley, (eds.)]. Cambridge University Press, Cambridge, UK and New York, NY, USA.
-
LEONTIEF, W. (1936), "Quantitative input-output relations in the economic system of the United States", Review of Economics and Statistics, 18(3), 105-125.
-
MILLER, R. E., & BLAIR, P. D. (2009), Input-Output Analysis: Foundations and Extensions, Cambridge: Cambridge University Press.
-
NARAN, B., CONNOLLY, J., ROSANE, P., et al. (2024), "Global landscape of climate finance", Climate Policy Initiative.
-
NEWELL, P (2021) Power Shift: The Global Political Economy of Energy Transitions UK: Cambridge University Press.
-
OECD (2024) The Environment At A Glance, Dashboard.
-
https://www.oecd.org/en/data/dashboards/environment-at-a-glance.html Erişim tarihi: 21 Haz. 2025.
-
RAINFOREST ACTION NETWORK. (2019), Banking on Climate Change: Fossil Fuel Finance Report 2019, San Francisco: Rainforest Action Network.
-
SHARMA, S. E., & BABIC, M. (2025), "Introduction: The international political economy of green finance", Competition & Change, 0(0), 1-20.
-
STEFFEN, B. (2021), "A comparative analysis of green financial policy output in OECD countries", Environmental Research Letters, 16(7), 074031.
-
TÜRKİYE BANKALAR BİRLİĞİ. (2023). https://www.tbb.org.tr/pdf/faaliyetler/116/774
-
TÜRKİYE CUMHURİYETİ ÇEVRE, ŞEHİRCİLİK VE İKLİM DEĞİŞİKLİĞİ BAKANLIĞI. (2023). Türkiye Cumhuriyeti Güncellenmiş Birinci Ulusal Katkı Beyanı. https://iklim.gov.tr/db/turkce/dokumanlar/turkiye-cumhuriyeti--8230-102-20230512125223.pdf[CT1]
-
UNITED NATIONS ENVIRONMENT PROGRAM (UNEP) (2019) Emissions Gap Report 2019. Geneva.
-
VAN DER ZWAN, N., & VAN DER HEIDE, A. (2024), "Investors as members in transnational sustainable finance initiatives: Collectors, mediators and performers", Competition & Change.
-
VOYVODA, E., & YELDAN, A. E. (2015), "Low carbon development pathways and priorities for Turkey", WWF-Turkey & Istanbul Policy Center.
-
YELDAN, A. E. (2023), "Turkey: Challenges and Strategies Towards De-Carbonization and Sustainable Development Under the Age of Finance", Japanese Political Economy, 49(2-3), 183-211.