From The Straits Times · · 1m
Turkey AIIB Climate Deal
AIIB and Turkey seal $2 billion climate pact at COP31.
In brief
AIIB and Turkey seal $2 billion climate pact at COP31. Asian Infrastructure Investment Bank and Turkey agreed a record $1.6 billion climate policy deal at COP31 to support Turkey's Climate Law and net zero by 2053 goals. Originally reported by The Straits Times.
AIIB and Turkey agree climate deal
The Asian Infrastructure Investment Bank agreed a record US$1.6 billion (S$2.06 billion) climate policy deal with Turkey at COP31 in Antalya to support reforms and meet climate goals.
Deal supports Turkey's Climate Law
The agreement backs Turkey’s Climate Law, net zero by 2053 plan, and efforts to raise sustainable finance, cut emissions and build climate resilience.
Emissions trading scheme help
Part of the sustainable finance support will help scale Turkey’s nascent emissions trading scheme for companies in high-emitting sectors.
Climate resilience targets
The plan aims to help 225,000 farmers switch to less water-intensive crops by 2028 and designate 50,000 hectares as carbon sinks by 2028.
What matters most
Asian Infrastructure Investment Bank and Turkey agreed a record $1.6 billion climate policy deal at COP31 to support Turkey's Climate Law and net zero by 2053 goals.
