The new European Commission that took office in December has placed the European Green Deal among its top priorities. The EU aims to be the first climate-neutral bloc of nations by 2050. In order to achieve this goal, radical steps should be taken.

IKV Chairman Ayhan Zeytinoğlu explained what the European Green Deal meant for Turkey:

“The new European Commission, led by Ursula von der Leyen, identified the European Green Deal as a priority. In this the EU committed to cut of all greenhouse gas emissions to net-zero by 2050. This week, the Commission declared an investment plan of one trillion euros to fund the deal. The investment plan, which includes EU financial instruments, as well as public and private sector investments, aims to fund the transformation of the economy for the next 10 years. It is expected that a new law, which oblige all EU member states to comply with greenhouse gas emission reductions, will be discussed in March. In line with this, EU policies will be reviewed. The use of fossil fuel will be reduced while the use of sustainable energy will be encouraged. Still, the only country, which has not ratified the European Green Deal, is Poland. Even though it is a difficult process, we think that EU’s plans for the next 10 years will be shaped in accordance with the European Green Deal.”

IKV Chairman Zeytinoğlu also indicated that the European Green Deal will have important consequences for Turkey:

“Both decision-makers and the business community in Turkey should closely follow the developments related to the European Green Deal. As an EU candidate country and a Customs Union partner, EU’s green strategy changes regulations on the EU Single Market. The shift to renewable energy, waste management and emission controls are being adopted as objectives defined in the circular economy. This situation will also affect EU’s trade strategy. The EU is planning to be the world’s top producer of eco-friendly goods and technologies. Trade policy will be the one of the fundamental instruments of this objective. The clauses in trade agreements such as the ratification and full compliance to the Paris Climate Agreement, carbon limit tax on imports, will affect Turkey as much as EU’s other trade partners. Moreover, a new strategy is being developed for agriculture and new clauses will apply to trade in agricultural products. These changes will affect the rules of our export with the EU. At the same time, there will be new opportunities in terms of eco-friendly technologies and production standards. We have to analyse these developments and we should not lose time in their adaptation.”