The inaugural carbon markets conference in Turkiye was held under the banner of Carbon Forward on May 9th-10th, 2024, in Izmir, Turkiye. With the imminent launch of the pilot Emissions Trading System (ETS) in quarter 4 and the forthcoming introduction of the Turkiye ETS in 2025, this event provided invaluable insights into the transformative impact these developments will have on businesses across the nation.
More than 250 regional and international professionals in carbon markets, government, shipping, airlines, cement, energy, and other industries took part in Turkiye’s first carbon markets conference, underscoring the significance of the event on both regional and global scales.
One of the highlight sessions, titled “What Will Demand Look Like in VCM 2.0?” was moderated by Gediz Selin Kaya, Founder & Managing Partner at GAIA. The esteemed panelists included:
- Subhendu Biswas, Director of Climate Action & Regulations at the Global Carbon Council (GCC)
- Sedef Budak, Founder & Chair of the Green Collar Women Association
- Gudmundur Sigbergsson, CEO of the International Carbon Registry (ICR)
- and Kaviraj Singh, Founder and Managing Director of Earthood
The panel discussion revolved around the anticipated demand-side dynamics in a rapidly evolving VCM landscape, emphasizing the need for standardized markets with robust quality assurance mechanisms. Key topics included ensuring transparency, reliability, and accuracy in credit quality, optimizing flexibility amidst diverse climate mitigation technologies, and fostering market cohesion around core carbon principles without sacrificing dynamism.
Subhendu Biswas outlined pivotal digital interventions aimed at enhancing transparency and efficiency within carbon markets. He highlighted GCC’s transition to GCC 2.0 with the development of a full digital workflow encompassing validation, verification, and Project monitoring. He explained the transition to a comprehensive digital workflow where all project-related activities would be conducted on a portal, eliminating the need for email communications, and providing stakeholders with real time access to project status, deliveries, deadlines, and timelines.
He also discussed GCC’s efforts in Digital MRV (Measurement, Reporting, and Verification) workflows. He mentioned that GCC has initiated trials with two Renewable Energy (RE) projects to develop a full digital MRV workflow. This initiative allows stakeholders, including verifiers, to access project data in real time and conduct online verification efficiently.
Moreover, he emphasized GCC’s utilization of digital tools to combat challenges such as double counting. Discussed GCC’s interaction with the Carbon Accounting and Data Transparency (CADT) platform, wherein projects with the same geographical coordinates are flagged to prevent any instances of double counting, ensuring data integrity and accuracy.
Carbon Forward Turkiye 2024 marked a significant milestone in Turkiye’s journey towards a sustainable, low-carbon future, with the Global Carbon Council showcasing innovative solutions and insights to drive progress in the global carbon community.
For further information on GCC’s initiatives and contributions, please visit Global Carbon Council.
