Türkiye has announced the launch of a major new industrial decarbonisation initiative, as it seeks to bolster its net-zero ambitions.
The Türkiye Industrial Decarbonisation Investment Platform (TIDIP) will seek to deploy $5 billion in investments by 2030, on initiatives that will lead to a reduction of 20 million tonnes of carbon emissions annually.
Financial support
The initiative is being backed by the European Bank for Reconstruction and Development (EBRD), along with the World Bank Group and International Finance Corporation.
It will draw on the established low-carbon pathways (LCPs) developed by the EBRD and Türkiye’s Ministry of Industry and Technology, which focus on decarbonising key sectors such as steel, aluminium, cement, and fertiliser through roadmaps encompassing technologies, financing, and policy measures.
Developed following ‘extensive’ stakeholder engagement, these LCPs aim to facilitate impactful investment pipelines for private- and public-sector involvement.
The TIDIP will also be expanded to include other industries, including glass, ceramics, and chemicals, as new LCPs are developed.
‘The platform approach brings together diverse but integrated solutions from a broader economic perspective and enables consensus among stakeholders, from policymakers to project developers, to finance providers on joint action on green investments,’ the EBRD said.
‘National leadership’
Commenting on the initiative, EBRD President Odile Renaud-Basso, said “The efforts of the private sector, financial institutions and multilateral development banks (MDBs) such as ours cannot fully succeed without robust national leadership. Uniting public and private entities –guided by leadership at country level – accelerates progress and amplifies impact towards climate goals.
“We are proud to play a leading role in this platform and extend our gratitude to the Turkish authorities for their pivotal leadership in making it a reality.”
The platform also aims to enhance market visibility for key technological solutions, offer guidance on regulatory frameworks, and assist companies in incorporating climate and sustainability considerations into their decision-making processes.
The EBRD has committed over €21.1 billion to 461 projects in Türkiye since 2009, primarily in the private sector. Read more here.
