The Voluntary Carbon Market is a platform that provides a solution for individuals, businesses, and organizations looking to reduce or offset greenhouse gas emissions globally. This market allows participants to minimize their environmental impact through voluntary carbon credits generated by projects that lower emissions.
The voluntary carbon market, which is still in the development stage in Türkiye, has been operating since 2005 and includes 23 registered projects as of 2022. These projects run in various fields, such as renewable energy, energy efficiency, forest restoration, waste reduction, and recycling. Considerations for fostering the expansion of the Voluntary Carbon Market in Türkiye encompass promoting the market, heightened awareness, assurance of loan reliability and transparency, and establishing a robust legal and regulatory framework. Addressing these factors can significantly contribute to Türkiye's goals in combating climate change.
Additionally, positive developments of the voluntary carbon market in Türkiye include the Ministry of Environment and Urbanization's publication of the "Voluntary Carbon Market Project Registration Notification" in 2022 and the Turkish Sustainability Association's plan to publish the "Voluntary Carbon Market Guide" in 2023. These steps aim to increase transparency in the sector and contribute to development. Anticipated is a substantial contribution from these positive advancements to Türkiye's voluntary carbon market growth. The global voluntary carbon market will reach 1.7 billion USD by 2021 when environmental responsibilities have gained increasing importance. The Voluntary Carbon Market represents an essential step towards a sustainable future, contributing to the commitment of individuals and businesses to reduce their environmental impact.
Author:
Mina Üstün
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