Türkiye has introduced a classification system covering 16 sectors and 137 economic activities to identify environmentally sustainable investments and help businesses access international green finance.
The Türkiye Green Taxonomy Regulation, prepared by the Climate Change Directorate under the Environment, Urbanization and Climate Change Ministry, was published in the Official Gazette on Sept. 24.
The ministry said the framework would support the transition to a low-carbon economy and alignment with EU climate policies.
Common assessment criteria are intended to improve transparency and curb greenwashing, or misleading environmental claims.
To qualify as sustainable under the taxonomy, an activity must contribute substantially to at least one of six environmental objectives, avoid significant harm to the others and comply with minimum social safeguards.
The objectives are reducing greenhouse gas emissions; adapting to climate change; sustainably using and protecting water and marine resources; moving toward a circular economy; preventing and controlling pollution; and protecting and restoring biodiversity and ecosystems.
The system draws on the EU taxonomy, with agriculture and tourism among the sectors covered.
Detailed technical screening criteria will be published on the directorate’s website.
Banks, insurers and other financial institutions covered by the regulation will be required to submit taxonomy reports from Jan. 1, 2029.
Reporting will be voluntary for nonfinancial businesses, although financial institutions may request reports from them to meet their own disclosure requirements.
The Climate Change Directorate will set reporting procedures for nonfinancial businesses.
Rules and templates for financial institutions will be determined by the capital markets, banking and insurance regulators.
