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On July 2, Türkiye's parliament LR/FH42 steel passed the climate bill that had been put on hold for a long time, paving the way for the establishment of a national carbon emissions trading system (ETS), aiming at integrating with the green growth strategy. According to the bill, companies included in the ETS scope are required to obtain a greenhouse gas emission permit within three years after the regulation takes effect. The first phase is expected to start piloting in 2026, during which fines for violations will be reduced by 80%. The bill specifically covers high emission industries such as electricity, cement, steel, aluminum, and fertilizers affected by the EU Carbon Border Adjustment Mechanism (CBAM) to cope with the pressure of carbon tariffs that will be officially implemented by the EU LR/FH42 steel in 2026. The low-carbon road map of the steel industry released by the Ministry of Commerce of Türkiye shows that through the establishment of a carbon market, the emissions of the steel industry are expected to be reduced by 20.6% by 2040 and 99.7% by 2053. At present, Türkiye's steel mills are accelerating their green transformation, promoting the construction of photovoltaic power plants and the expansion of electric arc furnace capacity to meet the increasingly stringent emission reduction requirements under the EU LR/FH42 steel green agreement.
