FRANKFURT (Reuters) – The European Energy Exchange (EEX) and Turkish energy bourse Enerji Piyasalari Isletme A.S. (EPIAS) on Wednesday signed a memorandum of understanding underlining their commitment to developing carbon emissions trading in Turkey.
“We look forward to working with EPIAS in creating a robust emissions trading system (ETS) in Turkey by providing our expertise in carbon markets,” said EEX chief executive Peter Reitz in a press release issued in Germany.
“National ETSes are essential to create a global carbon price, and hence, an important market-based tool to drive decarbonisation,” he added.
His counterpart at EPIAS, Taha Meli Arvas, said: “…we are committed to develop and operate a well-functioning ETS that will collaborate with European energy markets.”
The timing of concrete steps and financial details of the cooperation were not disclosed.
The EEX, a subsidiary of Deutsche Boerse, offers tools and technology to build platforms for carbon emission permits trading worldwide, helping regions achieve green transition goals by aligning relevant trade schemes with financial markets.
Its carbon expertise spans most of the EU at member state and central levels, also reaching to Britain, New Zealand, the Asia Pacific and North America.
That complements a raft of electricity, gas, hydrogen, freight and agricultural products.
EPIAS, established in 2015, offers trading of power, gas and environmental commodities contracts.
(Reporting by Vera Eckert; Editing by Mark Potter)
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