Energy has long been one of the most criti- cal sectors of economies. Being necessary for the most basic needs of the household, energy is the most significant input in the

production process. In this sense, energy and sus- tainability of energy have taken their place among the main targets of economic policy.

Apart from the importance it has, energy also currently plays a special role with regard to climate change and environmental economics. Energy is one of the main sectors which are the cause of carbon emissions. Within the scope of its national energy and mining policy, Türkiye has taken vital steps in the last 20 years with the purpose of strengthening its energy supply security. With regard to the aforementioned policy, the expansion of domestic and renewable resources came to the fore. 2021 data shows that 54% of our installed power is based on renewable resources, and we ranked 12th around the world and 5th in Europe in renewable installed power. The electricity we produce through renewable resources corresponds to 51% of the total production. Our country announced its net zero car- bon target for 2053 and its new target in this journey at the COP 27 (Conference of Parties) meeting held in November. Accordingly, the target of reduction from the increase in 2030 has increased from 21% to 41% according to the updated NDC (Nationally Determined Contributions) of Türkiye. In this context, our country will reduce emissions by 500 million tons, and emissions will begin to decrease after peaking in 2038.

Türkiye has been regulating its policies for the green transformation of energy, as well as taking significant steps to establish energy supply security and reduce foreign dependency on energy imports. Natural gas and oil exploration in the Mediterranean and Black Sea basins may be considered the most concrete step of these policy steps. In green transformation, energy is the most significant aspect. One of the 9 main targets

of the Green Action Plan published by the Ministry of Trade of the Republic of Türkiye is a clean, economic, and reliable energy supply. In line with this target, 1000 mW WPPs (Wind Power Plant and Solar Power Plant) are planned to be established every year until the end of 2027.

Being an institution whose main mission is business diplomacy, DEIK executes its main mission through the 151 business councils it maintains. The DEIK/Energy Business Council is one of our sector-based business councils. Looking forward to celebrating its 10th anniversary in 2023, our DEIK/Energy Business Council has undertaken a critical mission since the day it was established. Our Energy Business Council has made significant contributions to opening domestic energy companies abroad, the establishment of vital cooperations and investment and partnership foundations of international companies in Türkiye.

In line with this purpose, our Business Council has maintained various online and physical activities and projects this year. Panel sessions on energy cooperation and green transformation abroad were held at the leading fairs and summits of the sector, and cooperation with various markets on electric vehicles and renewable energy was discussed. In the 2nd Türkiye-Azerbaijan Energy Forum and the 4th Turkish-German Energy Forum, the private sector’s vision was shared and networking meetings were held. Apart from these, DEIK discussed the energy security in the South Caucasus region in an online meeting it organized based on its business diplomacy mission. In 2023, our Business Council plans to organize events and implement projects with the aim of evaluating investment opportunities and partnerships in various markets, especially cooperation within the scope of renewable energy, green hydrogen and offshore wind projects.