Green Accord Compliance Project

The Ministry of Trade announced a "support for green transformation" package for exports on February 23, 2024.

With the support of the Ministry of Trade's Green Accord Compliance Project, awareness is aimed at ensuring corporate sustainability-focused transformations of exporting companies within the scope of the European Green Deal, determining a roadmap for improving the current situation, and facilitating companies' access to national and international funds.

Considering the Customs Union Agreement and Turkey's share of over 40% in total exports, the European Union (EU) remains Turkey's most important trading partner in foreign trade, and sustainability and green transformation are expected to determine the rules of trade in the coming period.

The 5 sectors identified by the EU under the "Border Carbon Adjustment Mechanism (BCAM)" (iron-steel, cement, aluminum, fertilizers, electricity, and hydrogen) along with the textile and ready-to-wear sectors are predicted to be the most rapidly and significantly affected sectors by the green transformation process. In this context, exports by these sectors to the EU constituted 34% of total exports in 2023.

To ensure that Turkey's exports are not adversely affected by this transformation process and to prevent the loss of export markets, it is vital to increase awareness among exporters and establish a comprehensive support system for the process.

In this regard, the European Green Accord Compliance Project Support, prepared after intensive work with relevant stakeholders, was published in the Official Gazette and entered into force.

Through this support, the aim is to create awareness among exporting companies, conduct an analysis of the current situation, determine a roadmap for improvement, and facilitate access to national and international funds for corporate sustainability-focused transformations within the framework of the European Green Deal.

With the comprehensive support model established, this process, which is mandatory and uncertain for any level of maturity of a company, will be defined with its criteria and parameters, determining where it stands and where it needs to go, and guiding the transformation of infrastructure.

In line with these objectives, consulting service expenses incurred by companies will be supported by the Ministry of Trade by 50% for a period of 5 years, up to a total of 10 million Turkish lira.