The European Energy Exchange (EEX) and the Turkish energy exchange Enerji Piyasaları İşletme (EPİAŞ) have signed a memorandum of understanding to underline their joint commitment to developing the Emissions Trading System (ETS) in Turkey.

Peter Reitz, CEO of EEX, said: “National ETS are essential to create a global carbon price, and hence, an important market-based tool to drive decarbonisation.”

Taha Meli Arvas, CEO of EPİAŞ, said: “I believe that our new journey with EEX will greatly contribute to our joint goal of establishing an effective and efficient ETS in Turkey, compatible with EU practices.”

EEX has conducted primary auctions since 2010 and currently operates the service on behalf of 25 EU member states, three EEA EFTA states as well as the Innovation Fund, Modernisation Fund and the Recovery and Resilience Facility for REPowerEU. EEX also manages emissions auctions for Poland and for the UK in respect of generation of electricity in Northern Ireland, while running the national ETS for Germany as well as secondary spot, futures and options markets.