Turkiye's MoIT leads low-carbon transition for 2053 net-zero target

MoIT, in collaboration with the European Bank for Reconstruction and Development (EBRD), the International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC), signed the joint declaration on the establishment of the Turkiye Industrial Decarbonisation Investment Platform (TIDIP), said the World Bank in a press release.

Through the Platform, the partners commit to advancing the transformation of Turkiye’s industrial sector from fossil fuel dependency to renewable energy sources and low-carbon production processes. By driving energy efficiency and fostering innovation, the Platform aims to secure the country’s economic competitiveness while enhancing energy security and promoting sustainable economic development, the release said.

The TIDIP will consider energy-intensive industries such as iron and steel, primary and secondary aluminium production, clinker and cement, and fertilisers—which collectively hold the potential for significant decarbonisation—as well as other strategic sectors. The efforts will be guided by four low carbon pathways, developed under the auspices of the MoIT and with EBRD’s support, which were completed in March 2024, it added.

While the country is already making significant efforts supported by the international financial institutions, the TIDIP will help the identification of additional decarbonisation investments in key sectors. The MoIT will oversee the Platform’s activities, ensuring collaboration among a wide range of stakeholders including industrial companies, technology providers, engineering firms, development agencies, and sector associations. This approach aims to accelerate the transition to low-carbon technologies across the industrial spectrum, delivering mutual economic and environmental benefits.

TIDIP will support the Platform's implementation through stakeholder coordination, policy advisory aligned with national and EU climate priorities, and assistance to industrial companies in creating tailored decarbonisation investment plans.

“The establishment of the TIDIP is another piece of the country strategy to move towards a low-carbon economy while ensuring the competitiveness of the industrial sector,” said Humberto Lopez, Turkiye country director of the World Bank.

“TIDIP is a landmark initiative that reaffirms our commitment to a sustainable and resilient future for Turkiye's industrial sector. With this collaboration, we are paving the way for significant investments in low-carbon technologies and renewable energy. This platform will not only reduce greenhouse gas emissions but also enhance the competitiveness of Turkish industries and create new job opportunities. We are committed to enabling a sustainable industrial transformation that will secure a prosperous and environmentally responsible future for Turkiye,” said Wiebke Schloemer, IFC’s director for Turkiye and Central Asia.

Fibre2Fashion News Desk (SG)