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Projects : MidSEFF Carbon Finance Consultant

Under an EBRD assignment, Climate Focus, together with Gaia Carbon Finance and Triodos Facet, seeks to unlocking the potential that carbon markets have in Turkey through address potential market barriers. The activities are focused on introducing and developing carbon finance services at local Turkish banks that participate in the EBRD-funded sustainable energy finance programme.

Within the Mid-size Sustainable Energy Financing Facility, or MidSEFF, EBRD, jointly with the European Investment Bank and Japan Bank for International Co-operation, has offered up to €1.1 billion in loans to Turkish banks for on-lending to private sector borrowers to undertake mid-size renewable energy, waste-to-energy and industrial energy efficiency investments.

Currently, Turkey is the largest supplier of Gold Standard voluntary offset credits. However, none of the Turkish domestic banks play an active role in the carbon market. Under this assignment, Turkish banks are supported to take a key role in the finance of the offset project, facilitation and monetisation of carbon offsets. Assignment will also aim to facilitate the development of the carbon market by introducing tools and standards that reduce development cost. Finally, Climate Focus and its partners will explore new routes to existing and/or new markets.