2.9 Green Economy and Climate Change

Within its mandate, the CBRT contributes to Türkiye’s “Green Development Vision” and “2053 Net Zero Emission Target”. Working in coordination with the relevant institutions, the CBRT continued to contribute to the studies on the national climate agenda such as national taxonomy, carbon pricing, long-term climate strategy and compilation of green deal financing opportunities.

As part of international efforts, the CBRT participated in the meetings and studies of the Network for Greening the Financial System (NGFS), and examined the roles and policies of central banks in the fight against climate change. Under technical cooperation, meetings were held with the Central Bank of Bangladesh and The Banque de France to exchange experience and information on relevant issues. In analytical studies on climate change, a potential set of criteria was developed to assess the Environmental, Social and Governance (ESG) risks of firms.

To improve the capacity within the CBRT and raise in-house awareness regarding climate change, quarterly bulletins with summaries of national and international developments and numerous analyses were prepared. Moreover, in collaboration with the Central Academy and Development Division of the Human Resources Department, the CBRT organized two in-house climate change seminars; one focusing on the operating principles and details of different Emissions Trading Systems, and the other discussing the scope of the European Union’s Carbon Border Adjustment Mechanism and its effects on the economy and the real sector. Last but not least, the CBRT prepared a glossary of key concepts related to climate change and sustainable finance, and published it on its local area network.