Carbon footprint applications in the banking sector and TuREEFF – TurSEFF project results

Carbon markets are important financial instruments developed to support the reduction of greenhouse gas emissions worldwide. These markets include buying and selling emissions credits to finance emission reduction projects and reduce carbon emissions. Carbon markets are used as part of emissions trading mechanisms and climate policies. Banks in Turkey measure their own greenhouse gas emissions with carbon footprint practices and take steps to reduce them. These practices include energy efficiency measures, renewable energy investments and carbon neutral targets. Banks also offer various financing products to finance sustainable projects and encourage their customers to reduce carbon. In this way, banks play a vital role in sustainability efforts and ensure that financing is directed towards sustainable projects. External financing resources provided to reduce its carbon footprint play an important role in Turkey's fight against climate change and in achieving its sustainability goals. These resources are provided by international organizations, development banks, funds and climate finance mechanisms. Turkey finances and implements sustainable projects by using these resources in areas such as energy efficiency, renewable energy, urban transformation, agricultural sustainability and protection of marine ecosystems. "TuREEFF" and TurSEFF projects, as examples of external financing resource practices in Turkey, achieve positive results in energy transformation projects with their activities and the financial support they provide. The aim of this project is to reduce energy consumption, increase renewable energy sources and reduce carbon emissions. In the literature and as a result of field studies, within the scope of reducing the carbon footprint, energy saving practices equivalent to annual electricity consumption, carbon emission prevention projects, installed renewable energy power projects and outputs from financial institutions in Turkey,especially from the applications of banks, have been taken into consideration.