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IFC, EBRD to help Turkish businesses adapt to climate change

06 October 2011 [13:00] - TODAY.AZ
IFC, a member of the World Bank Group, and the European Bank for Reconstruction and Development are helping local and international businesses in Turkey better plan for and adapt to growing challenges linked to climate change, IFC reported.

In collaboration with Turkey's Environment and Urbanization Ministry and the Union of Chambers and Commodity Exchanges, IFC and EBRD will manage a year-long market study designed to give the private sector new tools to help anticipate and respond to the effects of climate change.

The initiative will work with Turkish businesses large and small to address needs for achieving climate resilience in the private sector.

In recent workshops held in Ankara and Istanbul hosted by the Union of Chambers and Commodity Exchanges of Turkey and the Ministry of Environment and Urbanization, business leaders and representatives of the public sector and civil society joined IFC, EBRD, and government officials to discuss various climate-change effects and their relation and importance to businesses. They also observed gaps and barriers towards adaptation, and identified opportunities related to climate investments.

"Investing in a sustainable future is a smart business decision," said Mohsen Khalil, Global Head of IFC's Climate Business Group.

According to Terry McCallion, EBRD Director for Energy Efficiency and Climate Change, investment in climate-change mitigation-including in energy efficiency and renewable energy-is off to a good start.

The new joint study is the latest effort in the EBRD and IFC's collective commitment to tackle climate change through a well-balanced approach that entails both mitigation-by reducing greenhouse-gas emissions-and adaptation, by coping with the inevitable impacts of climate change.


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