Description |
Recognizing that the traditional donor support would be insufficient to address global Climate Change challenge, the Kyoto Protocol broke new ground with the introduction of innovative, new financial market mechanisms to leverage private financing for controlling and coping with climate change. Turkey has not ratified the Kyoto Protocol yet and thus cannot benefit from participation in the Kyoto Protocol Flexible mechanisms. Nevertheless, the country has significant GHG emissions reductions potential and could participate efficiently on the flexible mechanisms, especially in VCM. In addition, it is important not to lose the momentum and to formulate country’s position in post-Kyoto negotiations |
