What happened
The regulation on operating Türkiye’s emissions trading system market has been published in the Official Gazette and is now in force.
It sets the operating framework for the primary, secondary and spot markets that will be run by Energy Exchange Istanbul (EPİAŞ). It also covers free and supplementary allowance allocations, as well as allowance auctions.
Under a temporary provision, a virtual application will run in the ETS Market Management System before the primary market and spot allowance market begin operating in the Transaction Registry System. This interim exercise will not create obligations for participants.
Why it matters
The measure provides a market-operating framework for organisations participating in Türkiye’s ETS. Firms will need to follow the relevant procedures for allowance allocation, trading and auctions as the markets are introduced.
For verified facility-level greenhouse-gas emissions in 2026, participants may request allowances equal to their emissions. In that case, the Supplementary Allowance Price Mechanism may be used.
What's next
The Climate Change Directorate will determine the arrangements for issuing allowances and the dates of auctions under the supplementary mechanism. The matching price will be the buy-order price submitted by market participants. No allowance reference price will be calculated for those auctions.
Allowances obtained through these auctions will be transferred directly to the surrender account for the relevant facility. The regulation states that this transfer will not count as fulfilment of the obligation.
