'Green Economy in Turkey: A Roadmap for Transformation' report was published. The report states that Turkey is the Organization for Economic Cooperation and Development (OECD) country with the fastest increase in energy demand over the past 20 years. On the other hand, it is stated that Turkey, which imports more than 76 percent of its energy need from abroad and meets a significant portion of it from imported fossil fuels, has accelerated its efforts within the scope of green transformation.

"UNITED ACTION MUST BE TAKEN TO TACKLE THE CLIMATE CRISIS"

Drawing attention to the need to act with a collective consciousness in the fight against the climate crisis, one of the authors of the report, Dr. Lecturer. Prof. Dr. Ömer Faruk Tekdoğan made the following statement on the subject:

"There have been important developments both in the world and in Turkey in recent years in the fight against the climate crisis, which requires the joint struggle and multifaceted efforts of all stakeholders. These include the Paris Agreement, the first global agreement on climate change, and the UN 2030 Agenda for Sustainable Development, which sets measurable climate targets for countries. The US and 27 EU countries aim to achieve net zero carbon emissions by 2050. We have created a roadmap with the report we prepared to contribute to the green transformation of our country."

USA LEADS IN CARBON EMISSIONS PER CAPITA

According to the report, the US ranks first among the regions in the world with the highest per capita carbon emissions, followed by China, EU countries and Turkey. Among the energy sources that trigger carbon emissions the most, oil ranks first with 33 percent, followed by coal with 27 percent and gas with 24.3 percent. It is reported that Turkey is the OECD country with the fastest increase in energy demand in the last 20 years. Turkey, which imports more than 76 percent of its energy need from abroad and meets a significant portion of it from imported fossil fuels, is said to be accelerating its efforts within the scope of green transformation.

CAN BE AN IMPORTANT FORCE IN THE FIGHT AGAINST CURRENT ACCOUNT DEFICIT

Based on the data in the report, Turkey is making significant progress in energy efficiency. In terms of energy efficiency, Turkey ranks second after the UK in wind energy and second after Spain in solar energy. It also ranks first in the table that includes the sum of both. Behind Turkey's success is the fact that it is surrounded by seas on three sides, as well as the wind river and efficient solar radiation values. In this respect, it is argued that green transformation will be an important force in Turkey's fight against the current account deficit. The report emphasizes that the formation of legal arrangements, legislation and regulations should be the primary step, while the creation of funds and incentive packages is seen as imperative to reduce production costs. 

GREEN TRANSFORMATION COULD BE AN OPPORTUNITY FOR ISLAMIC FINANCIAL INSTITUTIONS

According to İLKE Foundation's report titled "Green Economy in Turkey: A Roadmap for Transformation", the principles that Islamic financial institutions should follow in their business, unlike conventional finance, can create an advantage in meeting the necessary criteria as they overlap with the goals of sustainability and green transformation. The report states that Islamic financial institutions should increase the share of green transformation in the financial system through initiatives, noting that for this purpose, governments are expected to pave the way for Islamic financial institutions with incentive policies, supportive and facilitating regulations.