Abstract:

While Covid-19 pandemic has stemmed from the climate crisis, linear economy model, which depends heavily on the fossil fuels and has been thriving since the Industrial Age, lies at the heart of the climate crisis. The linear economy model, that is focused on more growth, more production and consumption, ignores the fact that such economic success comes at the expense of nature and the destruction of creatures living in it. Then, over the years, the concept of 'sustainability' was introduced to this linear model, yet it has not been fully sufficient for a full economic transformation. It seems like humanity needs to suffer the increasingly severe consequences of climate crisis, which is felt in almost every part of the world today, in order to force such a transformation. The pandemic on one hand, and other climate-related disasters on the other -that have a global impact just like the pandemic and that have increased their severity and frequency in recent years- need an urgent solution as the most important consequence/problem of the climate crisis. While death and economic losses are the first consequences of both global problems, there are many secondary and invisible effects, ranging from displaced people to food insecurity. All these effects are reflected even more apparently in the United Nations Sustainable Development Goals, which such effects jeopardize. The whole world strives to prevent these climate-based disasters altogether, to ensure an equitable welfare for all living beings on the planet, and to achieve permanent and sustainable results towards these goals. One of these efforts is the European Green Deal, which is the climate action plan of the European Union (EU). With the European Green Deal announced in 2019, the EU basically aims to zero out its greenhouse gas emissions by 2050 with the changes and regulations it will implement in many sectors. This target eventually concerns countries that have commercial relations with the EU as well. Turkey, which is one of these countries, has to make the necessary adjustments if it wants to maintain its commercial relations with the EU countries, which is one of its most important commercial partners. This study addresses the possible economic effects of the European Green Deal and Circular Economy Action Plan and the evaluation of Turkish economy within this framework together with policy recommendations.

Keywords: