"COP29 is a critical venue in climate finance," Deputy Minister of Trade of Türkiye Mustafa Tuzcu said at the Ministerial Meeting on Organization of Turkic States (OTS) Partnership for Climate, Innovation, Green Economy and Trade held in cooperation with the Ministry of Economy of the Republic of Azerbaijan and OTS on the 4th day of the COP29 conference, APA reports.
He noted that Türkiye is fully committed to addressing the global challenge of climate change: "In recent years, we have taken significant steps to mitigate greenhouse emissions, invest in renewable energy, and promote sustainable urban development."
Deputy Minister added that following the ratification of the two parties' agreement in 2021, Türkiye has made significant endeavors to transition towards a low-carbon sustainable economy: "Türkiye has become a leader in the development of wind and solar energy in the region, reducing reliance on fossil fuels and enhancing energy security. Türkiye has raised its renewable energy capacity to 59, ranking 11th in the world. Looking to the future, Türkiye is committed to achieving net zero emissions by 2053. To support this vision, Türkiye will soon introduce a comprehensive climate law that will set clear frameworks for reducing emissions and promoting sustainable practices across various sectors. Additionally, we are also in the process of establishing an emission trading system which will enable Türkiye to regulate and reduce carbon emissions through market-based mechanisms."
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