The World Bank says Turkiye could save $146 billion, if it takes effective and appropriate action to tackle climate change. Most of the benefits would come from reductions in energy imports and reduced pollution. Last year, Turkiye imported 61 billion cubic metres of natural gas and nearly 3 million tons of oil. Turkiye has committed to achieving net zero emissions by 2053. But to hit that goal, the World Bank says the country must decarbonise its power sector, and move away from fossil fuels when it comes to transport. The report adds that the clearest path for Turkiye to reach both energy security and to reduce emissions is to accelerate its domestic solar and wind power sectors. Over the last decade, Turkiye has tripled its renewable energy capacity and is looking to invest further in battery technologies, geothermal energy and carbon capture. The World Bank warned that due to the conflict in Ukraine, many countries dependent on fuel imports, including Turkiye, are at risk to energy price shocks.

Guest:

Stephane Hallegatte

Senior Climate Change Adviser at World Bank