Archive for November 2011
28 Nov., 2011, Reuters / Inside Climate News
Turkey is laying the groundwork for a mandatory carbon trading plan that could eventually take aim at its soaring global warming emissions. Why now?
ISTANBUL, Turkey—Turkey is finally getting serious about building a domestic carbon trading scheme, and many Western governments and carbon market analysts worldwide are watching to see if it will follow through on its pledges.
“The government has been dragging its feet for quite some time on this,” said Simone Ruiz, European policy director at the International Emissions Trading Association, a trade group.
As an emerging economy, Turkey isn’t required by any international agreements to reduce carbon dioxide, a major greenhouse gas, despite being one of the world’s biggest polluters. But after a successful run in the thinly traded voluntary carbon market, the government has signaled serious interest in creating a mandatory carbon trade at home.