To move closer to achieving carbon neutrality, Turkey has launched the Industrial Decarbonization Investment Platform (TIDIP) in Ankara. The platform aims to attract investments worth 5 billion dollars by 2030, resulting in a reduction of over 20 million tons of carbon dioxide emissions annually. Reportedly, this is the largest industrial decarbonization program in the world to date, based on the so-called LCP—low-carbon pathways concept, which outlines steps to reduce emissions in specific sectors while maintaining productivity and economic growth.
This initiative is supported by the European Bank for Reconstruction and Development (EBRD), which has recognized the need for significant mobilization of climate financing. In this regard, the EBRD is collaborating with the World Bank Group and the International Finance Corporation. The EBRD and the Turkish Ministry of Industry and Technology have developed Turkey’s LCP, targeting the decarbonization of the steel, aluminum, cement, and fertilizer sectors.
As related LCPs evolve, TIDIP will expand to include sectors such as glass, ceramics, and chemicals.
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Given that nearly half of Turkey’s exports are directed to the European Union, decarbonizing industries with high carbon emissions has become essential. This is particularly significant in light of the implementation of the Carbon Border Adjustment Mechanism (CBAM). Through such decarbonization efforts, Turkish companies have the opportunity to enhance their competitiveness and attract investments.
The platform can also provide market visibility for key technological solutions, offer guidance on regulatory frameworks, and help companies integrate climate and sustainability practices into their decision-making processes, according to the EBRD’s website.
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