Low carbon economy with solution model for Turkey

Greenhouse-gas emissions increasing since the industrial revolution is among the major reasons for the global climate change. Climate change, whose effects have been seen nowadays, is threatening the lives of the human beings. Therefore, it?s highly important to a struggle against climate change where common responsibility of all humankind. The effects created by greenhouse gases in global warming result in warming of the earth, melting of the glaciers and the rise in the sea levels. United Nations Climate Change Framework Convention (UNCCFC) was established by international institutions in order to resolve mentioned problems. Afterwards, regarding UNCCFC activities and decisions, Kyoto Protocol (KP) adopted in Kyoto, Japan, on 11 December 1997, with setting internationally binding emission reduction targets. Kyoto Protocol includes project and market-based analyses for the climate change and flexibility mechanisms which are named as Clean Development Mechanisms (CDM), Joint Implementation (JI) and Emission Trade (ET). Projects are developed aiming reduction of the greenhouse gases followed by carbon markets dealing with the purchase and selling transactions of the obtained reduction certificates. In this study, emission trade practices within the world, the tools used for emission trade, emission derivatives, and the applied carbon trade systems are examined. A solution has been developed aimed at making preparations for the flexibility mechanisms of Kyoto Protocol and setting mandatory emission trade system by examining the voluntary emission trade in nationwide Turkey.