Environment, urbanization and climate change minister and president of COP31, Murat Kurum.
Türkiye, Ghana and Luxembourg have joined the Coalition to Grow Carbon Markets, bringing the government-led initiative’s membership to 14 countries, the coalition said on Aug. 6.
Launched last year by five governments, the coalition aims to strengthen corporate demand for high-integrity carbon credits and develop a market capable of generating more than $50 billion a year in additional climate finance by 2030.
The initiative brings together countries that supply carbon credits and those that generate demand for them.
Türkiye, Ghana and Luxembourg join Canada, France, Indonesia, New Zealand, Panama, Peru, Switzerland and Zambia, along with coalition co-chairs Kenya, Singapore and the United Kingdom.
Türkiye’s membership comes as the country prepares to host the U.N. Climate Change Conference (COP31) in Antalya from Nov. 9 to 20.
Climate finance and the implementation of existing commitments are expected to feature prominently at the summit.
Türkiye enacted its first climate law last year, establishing a legal framework for the country’s carbon market.
Murat Kurum, environment, urbanization and climate change minister and president of COP31, said: “To achieve our global climate and sustainable development goals, coordinated leadership among countries to unlock the potential of carbon credit markets is essential.”
“Türkiye is proud to be joining the Coalition to Grow Carbon Markets, to help provide vital clarity to businesses on the role of carbon credits and stimulate much-needed investment in global emissions reductions and removals,” he added.
