Pilot climate change adaptation market study : Turkey

This market study took place between January 2012 and June 2013 with the aim of understanding the needs of the Turkish private sector in order to improve climate resilience. It was funded jointly by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). The study was undertaken in collaboration with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Ministry of Environment and Urbanization (MoEU). Key information and insight was also provided by a range of public and private sector organizations across Turkey, who provided both feedback to the national adaptation questionnaire, and attended a series of one day workshops in Istanbul, Ankara, Bursa, Gaziantep and Anatolia. Across the world interest and action by the private sector to understand and manage the risks of climate change is growing significantly. Climate change may challenge all areas of business performance, including operational, financial and environmental performance, social interactions, regulatory compliance, contractual obligations and legal constraints. However, for those businesses that take on this challenge, there are potentially significant commercial and competitive advantages to be gained. The market study aimed to develop new approaches to help businesses understand and manage the risks, and identify technological and investment needs and opportunities caused by a changing climate. This public summary report describes the study outcomes. It documents a number of pro adaptation opportunities for the private sector, identified through the course of the assignment. An initial ‘long-list’ of over 20 potential financial interventions were developed through extensive research, a series of sectoral workshops in-country, focused stakeholder interviews, professional judgement and best practice review. Additional consultations followed on the ‘long-list’ interventions, with the aim of creating a ‘short-list’ of potential priority investments. Further market analysis was then applied to these ‘short-list’ interventions, as described in chapter four. Finally, appendix one contains the main figures and tables referred to in the main report text. Appendix two contains the ‘long-list’ of potential financial interventions, with supporting information.