The European Energy Exchange (EEX) and the Turkish Energy Stock Market (EPIAS) have joined forces to develop and implement an Emissions Trading System (ETS) in Türkiye.
Peter Reitz, CEO of EEX, highlighted EEX's extensive experience in emissions trading schemes across Europe and beyond and emphasized the importance of national ETS as a market-based tool essential for establishing a global carbon price and driving decarbonization efforts worldwide.
'EEX is poised to lend its expertise in carbon markets to support the creation of a robust ETS in Türkiye,' Reitz was quoted as saying in an EEX statement.
Taha Meli Arvas, CEO of EPIAS, also echoed the critical role of ETS in achieving climate change objectives and facilitating the green transition.
'As Türkiye's energy exchange, we are dedicated to developing a carbon market that is not only effective but also harmonious with European energy markets,' Arvas said.
He expressed confidence that the collaboration with EEX would contribute much to the success of establishing a functional and efficient ETS in Türkiye, aligned with EU practices.
Since 2010, EEX has been at the forefront of conducting primary auctions and currently facilitates this service for 25 EU member states, three European Free Trade Association states in the European Economic Area, and several EU funds focused on energy and decarbonization.
EEX's role extends to managing emissions auctions for specific regions and operating national ETS for countries like Germany. With its expertise, EEX also supports the New Zealand ETS auctions and has published the world's first Global Carbon Index, showcasing its commitment to building robust carbon markets globally.
By combining their strengths, EEX and EPIAS aim to develop a Turkish ETS that is efficient, transparent, and aligned with global decarbonization goals, setting a precedent for energy exchanges worldwide.
EEX is a leading force in building secure, sustainable commodity markets globally, offering a wide range of services across various energy and environmental sectors. EPIAS, as Türkiye's energy exchange, plays a pivotal role in operating power, natural gas, and environmental markets, ensuring reliable and transparent market conditions for all stakeholders.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr