Türkiye, host and co-chair of this year's United Nations climate negotiations, has joined the Coalition for Scaling Carbon Markets alongside Ghana and Luxembourg.
Established a year ago during London Climate Action Week, the initiative aims to strengthen corporate demand for high-integrity carbon credits and accelerate carbon markets capable of unlocking more than $50 billion annually in additional financing for climate action by 2030.
Co-chaired by the United Kingdom, Singapore, and Kenya, the Coalition is committed to mobilizing capital to support sustainable development and progress toward global climate goals. With these new accessions, the Coalition's membership has reached 14. As the host of this year's COP, where climate finance is expected to be a primary focus of negotiations, Türkiye's membership provides significant momentum to the initiative.
The COP31 Presidency had explicitly stated that this year's summit would focus on implementation, including mobilizing financial resources toward the delivery of the New Collective Quantified Goal on Climate Finance (NCQG). By joining the Coalition, Türkiye also formally recognized the urgent need for international cooperation to scale up all available climate action instruments.
Serving as a clear signal of Türkiye's commitment to driving demand for high-integrity carbon credits, this move builds upon the country's first Climate Law enacted last year, which established a legal framework for carbon markets.
Murat Kurum, Minister of Environment, Urbanization and Climate Change and COP31 President, made the following statement regarding the development: “Coordinated cooperation among nations is imperative to achieve our global climate and sustainable development goals, and to unlock the potential of carbon credit markets. Carbon credit markets are a vital yet underutilized instrument for catalyzing investments to combat climate change. Türkiye is proud to join the Coalition for Scaling Carbon Markets to provide companies with vital clarity on the role of carbon credits and to spur investments in emissions reductions on a global scale.”
August 26, 2026
