Development of an institutional model for emission trading system:An approach to the carbon market of Turkey

Öz

Climate change negotiations focus on developing a new climate agreement with legal force under the Convention applicable to all Parties for the post-2020 climate regime. With this new agreement many developed Parties including Turkey would take quantified economy–wide emissions reduction targets. In that case, Turkey would benefit from flexibility and market mechanisms. Therefore, an emission trading system should be developed until 2020 in Turkey. This paper has been prepared for the purpose of describing and developing an institutional model for an emissions trading system in Turkey. The emissions trading system will consist of Designated National Authority/Designated Focal Point, Central Registry Agency, Istanbul Stock Exchange Turkish Carbon Market, Turkish Carbon Market and Istanbul Settlement and Custody Bank Inc. Keywords: Climate change, Emissions trading, Carbon market, Institutional model, Turkey

Anahtar Kelimeler

• Climate change, Emissions trading, Carbon market, Institutional model, Turkey

Emisyon ticaret sistemi için kurumsal modelin geliştirilmesi: Türkiye karbon piyasası yaklaşımı

Öz

İklim değişikliği müzakereleri, 2020 sonrası iklim rejimi için bütün taraf ülkelere uygulanabilecek ve Sözleşme altında yasal bağlayıcılığı olacak yeni iklim anlaşmasının hazırlıkları üzerine odaklanmıştır. Bu yeni anlaşmayla, Türkiye dahil birçok gelişmiş ülke, ekonomi genelinde sayısallaştırılmış emisyon azaltım taahhüdü alabilecektir. Bu durumda, Türkiye, esneklik ve yeni piyasa mekanizmalarından yararlanabilir hale gelecektir. Bu nedenle, Türkiye'de 2020 yılına kadar bir emisyon ticaret sistemi kurulmalıdır. Bu çalışma, Türkiye'de bir emisyon ticaret sisteminin kurumsal modelinin tanımlanması ve kurulması amacıyla hazırlanmıştır. Türkiye Emisyon Ticaret Sisteminin, Yetkili Ulusal Merci/Yetkili Odak Noktası, Merkezi Kayıt Kuruluşu, Borsa İstanbul Türkiye Karbon Piyasası ve İstanbul Takas ve Saklama Bankası A.Ş.'den oluşması öngörülmektedir. Anahtar kelimeler: İklim değişikliği, Emisyon ticareti, Karbon piyasası, Kurumsal model, Türkiye

Anahtar Kelimeler

• İklim değişikliği, Emisyon ticareti, Karbon piyasası, Kurumsal model, Türkiye

Kaynakça

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