EPİAŞ and EXX sign deal on Turkish ETS

ISTANBUL

The Turkish energy exchange Enerji Piyasaları İşletme A.Ş. (EPİAŞ) and the European Energy Exchange (EEX) have signed a memorandum of understanding to underline their joint commitment to developing the Emissions Trading System (ETS) in Türkiye.

EPİAŞ is establishing a carbon market, and they are committed to developing and operating a well-functioning ETS that will collaborate with European energy markets, said Taha Meli Arvas, CEO of the company.

“I believe that our new journey with EEX will greatly contribute to our joint goal of establishing an effective and efficient ETS in Türkiye, compatible with EU practices,” he added.

For his part, EEX chief executive Peter Reitz said that they look forward to working with EPİAŞ in creating a robust ETS in Türkiye by providing our expertise in carbon markets.

“National ETS is essential to create a global carbon price, and hence, an important market-based tool to drive decarbonization.”

EEX offers tools and technology to build robust carbon markets worldwide that align with financial markets and global decarbonization goals.

It has conducted primary auctions since 2010 and currently operates the service on behalf of 25 EU member states, three EEA EFTA states, as well as the Innovation Fund, the Modernization Fund and the Recovery and Resilience Facility for REPowerEU.

EEX publishes the world’s first Global Carbon Index, comprising selected compliance carbon markets from Asia Pacific, North America and the EU.