It is necessary to decarbonize the economy to remain competitive. However, green energy is not the same as ecology
Obviously, we are now actively turning towards Asia. It is a huge growth market with very great potential. <...> The expectations of our new partners will not be any different from those of the EU. We understand that a cross-border carbon tax is going to happen and that a number of positions, which remain and fall under that tax, would translate to an $80bn outflow from our budget from 2026 to 2050. This is our estimate — Tatiana Zavyalova, Senior Vice President for ESG, Sberbank.
Everyone understands that the climate agenda, although it is not identical to the decarburization issues, and it even has been voiced recently, the climate agenda is much broader, and moreover, the environmental agenda is broader. We have the Ecology national project, and, probably, for many people clean air and water are more important than CO2 emissions. Twenty cities were included in the project, but in reality there are [forty of them] that require rather radical measures to reduce emissions and clean up the air. In this regard, the environmental projects are much broader for VEB — Andrey Klepach, Chief Economist, VEB.RF.
In October of last year, our parliament ratified the Paris Agreement. The Paris Agreement’s requirement and commitment obliged the Turkish economy to become carbon neutral by 2050. We now have only 30 years to decarbonize the economy and the Turkish energy market. This is one of the toughest challenges we face for decades to come — Alparslan Bayraktar, Deputy Minister of Energy and Natural Resources of the Republic of Turkey.