The Ministry of Industry and Technology has taken an important step toward achieving Türkiye’s 2053 net-zero target, in line with the country’s climate and sustainable development goals, by launching the “Türkiye Industrial Decarbonization Investment Platform (TIDIP)” initiative. Through the platform, international financial institutions are expected to mobilize USD 5 billion in financing for Türkiye by 2030 to support investments needed for the green transformation of industry, with the ultimate goal of reducing annual carbon emissions by more than 20 million tonnes.
Established by the Ministry of Industry and Technology in cooperation with the European Bank for Reconstruction and Development (EBRD), the International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC), the Platform has been designed as the world’s largest industrial decarbonization program. Initially, it will focus on the steel, aluminum, cement, and fertilizer sectors. The Platform is expected to expand to include sectors such as glass, ceramics, and chemicals, while bringing together integrated solutions from a broader economic perspective. It is also expected to provide significant opportunities for stakeholders, ranging from policymakers to project developers, to develop joint actions on green investments.
Minister of Industry and Technology Mehmet Fatih Kacır made the following remarks at the TIDIP Joint Declaration Signing Ceremony:
ZERO WASTE: Under the leadership of our President, we have been implementing an economic model in Türkiye for 22 years that prioritizes industrialization and development without compromising the sustainable use of our natural resources. We support international efforts to combat climate change and adopt an approach that actively contributes to constructive solutions to the problem. Through initiatives such as the Zero Waste project, pioneered by First Lady Emine Erdoğan, we are also leading the implementation of international environmental initiatives.
2053 NET-ZERO EMISSIONS TARGET: As an important indicator of our commitment to combating climate change, we ratified the Paris Agreement and announced our 2053 Net-Zero Emissions Target to the world. In line with our 2053 net-zero emissions target and development priorities, we are carrying out efforts, coordinated by public institutions, to ensure the green transformation of all sectors of our industry.
A WINDOW OF OPPORTUNITY: As our industry undergoes a sustainability-driven transformation, we are closely monitoring the steps taken by the European Union, Türkiye’s largest trading partner, toward the green transition. In particular, we view the European Green Deal and the Carbon Border Adjustment Mechanism not as a threat to Turkish industry, which is an important part of European value chains, but rather as a significant window of opportunity for green transformation.
THE KEY TO THE GREEN TRANSFORMATION: In order for Türkiye to achieve its net-zero emissions target by 2053, we anticipate an investment need of $31 billion in the steel sector, $30 billion in cement, and $5 billion each in aluminum and fertilizer, amounting to more than $70 billion in total. Given the nature and scale of these investment needs, we see combining the efforts of Turkish industry and international financial institutions toward the net-zero emissions target—and establishing and implementing working models that leverage the financial resources, expertise, and knowledge of these institutions—as the key to successfully achieving the green transformation of our industry.
A TURNING POINT: In this context, we consider the TIDIP Joint Declaration an important turning point. Through this Platform, established initially by our Ministry in cooperation with the European Bank for Reconstruction and Development, the International Bank for Reconstruction and Development, and the International Finance Corporation, we aim to establish a comprehensive mechanism offering 360-degree solutions for green transformation investments identified under Low-Carbon Roadmaps. We also aim to rapidly strengthen this structure by bringing other international financial institutions and multilateral development banks into the Platform in the near future.
EMISSIONS REDUCTION: This comprehensive Platform has four key priorities. The first is to accelerate green transformation investments by ensuring our industry’s access to international finance. Through this platform, we aim to bring together public institutions, international financial institutions, banks, and industrial stakeholders and provide €5 billion in financing by 2030 for investments that will enable decarbonization in the four priority sectors. We expect the investments made through this financing mechanism to reduce carbon emissions by 20 million tonnes annually, equivalent to 3.6 percent of Türkiye’s annual carbon emissions.
EXPANDING SECTORAL SCOPE: Our second objective is to expand the Platform’s sectoral scope. Initially focused on steel, cement, aluminum, and fertilizer, the program will also include other sectors that play an important role in the green transformation, such as glass, ceramics, and foundries. Developing low-carbon roadmaps for the sectors we plan to include in TIDIP, together with the EBRD and other stakeholders, is among our priorities.
ENSURING COMPLEMENTARITY: Our third objective is to ensure that the Platform complements our other climate finance and green transformation programs. Our Ministry is also working with other international financial institutions on strategic programs and projects focused on green transformation that complement TIDIP. In the coming period, we will make new financing sources that create strong synergies with TIDIP available to our industrialists.
TECHNICAL ASSISTANCE: Our fourth and final objective is to establish technical assistance mechanisms to support the Platform. Our technical assistance mechanism consists of two main components: Platform-Based Advisory Services and Project-Based Advisory Services. TIDIP stakeholders will provide advisory support to our industry and Ministry for the development of the necessary monitoring and evaluation framework, as well as incentive mechanisms. Project-based partnerships will also be established to develop low-carbon roadmaps, investment plans, and green finance strategies.
A HISTORIC STEP: We regard the Türkiye Industrial Decarbonization Investment Platform as a historic step that will bring our industry closer to our 2053 Net-Zero Emissions Target. As the Ministry of Industry and Technology, we will continue to provide the necessary support and resources to ensure that the Platform reaches its full potential.