Emissions Trading Systems And An Analysis Of The Turkish Climate Law

I. Introduction

The international legal landscape is undergoing a paradigm shift toward enhanced recognition of both State responsibility and the regulatory oversight of private actors in addressing climate change. The International Court of Justice, in its Obligations of States in respect of Climate Change Advisory Opinion, established that the fulfilment of international obligations requires States to exercise due diligence through domestic mitigation measures,¹ which extends beyond public authorities to private actors within a State’s jurisdiction.² The International Tribunal for the Law of the Sea, in its Climate Change Advisory Opinion, also observed that the “due diligence is particularly relevant in a situation in which the activities in question are mostly carried out by private persons or entities.”³ Against this backdrop, States have increasingly turned to market-based instruments, primarily emissions trading systems (ETS).