Turkey has passed its first climate law, setting the foundation for a national carbon market aimed at achieving net-zero greenhouse gas emissions by 2053. The law includes an emissions trading system requiring companies to acquire permits within three years. A pilot phase will precede full implementation, monitored by the Carbon Market Council. Permits will be auctioned & traded on Energy Exchange Istanbul. Key sectors like cement & metallurgy are expected to be most impacted, while the move positions Turkey to align better with European carbon policies.