@article{2019,title={EMISSIONS TRADING AND THE IMPACT OF CARBON EMISSIONS ON FIRM VALUE},abstractNode={Emissions trading and carbon markets have gained importance with the ever-increasing needs of people and the scarcity of resources. As a result of the wastage of resources, the nature is either directly or indirectly affected. There is a change in climates with increasing emissions of harmful gases into the atmosphere. The Kyoto Protocol was signed to reduce the climate impact of greenhouse gases accumulated in the atmosphere. The first steps taken with the signing of the Protocol imposes a limitation on the carbon emission of the Annex-1 and Annex-2 countries. It envisages introducing a legally binding limit on the carbon emissions of the parties in order to carry out the emission trade. However, Turkey 'is also made voluntary emissions trading based on entirely voluntary even though such a requirement. Countries that are party to carbon emissions are legally binding. Restrictions are imposed upon countries with commitments to document emission reduction. The carbon footprint and ecological footprint appear with the carbon emitted to the atmosphere as a result of the damage caused by the human activities to the environment. Carbon footprint and ecological footprint calculations are made and the effects of carbon emission are measured. Efforts are made to reduce the effects of carbon emissions by minimizing the production and transportation. carbon emission released until the process reaches the value of the company will be in question. The aim of this study is to reveal the effect of emission trade and carbon markets on firm value and to determine the effect of the twenty firms which are traded in the BIST together with the hypotheses on the company values ​​as a result of carbon emission. },author={Tolga ULUSOY-Şerife ŞEN},year={2019},journal={Turkish Studies-Social Sciences}}