Turkish green initiative targets industrial decarbonisation

To curb carbon emissions and propel industrial decarbonisation, Turkey has initiated its Low-Carbon Pathways (LCPs) project, bolstered by support from the European Bank for Reconstruction and Development (EBRD).

This strategic endeavour primarily focuses on reducing carbon footprints within pivotal sectors such as steel, cement, aluminium, and fertilisers.

Laying the foundation

Backed by thorough consultations with sector associations and pertinent stakeholders, the LCPs serve as a beacon, offering clear directives to both domestic and international entities regarding requisite technologies and sustainable financing avenues. By fostering a conducive environment, these pathways aim to expedite Turkey's journey towards decarbonisation while concurrently fortifying infrastructure development.

Commitment to Net-Zero

Turkey has unequivocally committed to achieving a net-zero target by 2053, underscoring the imperative for industrial decarbonisation. Through the LCPs, it is projected that investments exceeding US$ 70 billion will be indispensable to curtail emissions by a staggering 135 million tonnes of CO2 annually, vis-à-vis a business-as-usual scenario.

Policy recommendations and economic impact

In alignment with EU regulations, the LCPs proffer policy recommendations, including the establishment of a Turkish Emissions Trading System. Moreover, the sectors encapsulated within the LCP ambit are also subject to the EU's Carbon Border Adjustment Mechanism. Adherence to these roadmaps is anticipated to enhance Turkey's export competitiveness, foster increased investment inflows, and mitigate reliance on imported fossil fuels, concurrently fostering reduced pollution levels and job creation.

EBRD's commitment and vision

As a stalwart in green investments, the EBRD has significantly contributed to Turkey's sustainable development drives. Embracing the LCPs as a blueprint, the private sector is urged to embrace sustainable decarbonisation practices, alongside fostering technological dissemination to realise green objectives.

Welcoming the LCP initiative, Arvid Tuerkner, the EBRD's Managing Director for Turkey, reaffirms the institution's staunch support for Turkey's climate targets. "Türkiye has set ambitious climate targets that will require great efforts on the private and the public side, which the EBRD stands ready to support," he implied.

"Our commitment to the green transition remains solid, and we are pleased to see that the private sector in Türkiye has a great appetite for green investments. We are confident that the LCPs will provide the guidance needed for both private and public stakeholders to accelerate the country's path towards a greener future," Tuerkner added.

As the nation galvanises efforts in line with global climate imperatives, the LCPs emerge as a seminal roadmap, propelling Turkey towards a greener, more resilient future.

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