Türkiye Launches Industrial Decarbonization Investment Plan at COP31
(MENAFN) Türkiye is preparing to introduce its Industrial Decarbonization Investment Platform (TIDIP) during the upcoming 31st UN climate change conference, COP31, scheduled to take place in Antalya from Nov. 9-20.
The initiative will focus on building partnerships to support industrial emissions reductions and attract investment into cleaner production technologies.
The platform was developed through cooperation between Türkiye's Industry and Technology Ministry, the European Bank for Reconstruction and Development (EBRD), the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC).
It will target industries with high carbon emissions, including iron and steel, aluminum, cement and fertilizer production. The initiative aims to mobilize more than $6 billion in investment by 2030 while cutting annual emissions by 20 million tons of carbon dioxide equivalent.
The Climate Investment Funds' Clean Technology Fund has already committed $250 million in initial financing to launch the program.
Additional financial institutions are expected to join the joint declaration through which the platform will be formally introduced at COP31.
Investment projects will be organized around five priority areas: green hydrogen, carbon capture, energy efficiency, renewable electricity and climate technologies.
The initiative will focus on building partnerships to support industrial emissions reductions and attract investment into cleaner production technologies.
The platform was developed through cooperation between Türkiye's Industry and Technology Ministry, the European Bank for Reconstruction and Development (EBRD), the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC).
It will target industries with high carbon emissions, including iron and steel, aluminum, cement and fertilizer production. The initiative aims to mobilize more than $6 billion in investment by 2030 while cutting annual emissions by 20 million tons of carbon dioxide equivalent.
The Climate Investment Funds' Clean Technology Fund has already committed $250 million in initial financing to launch the program.
Additional financial institutions are expected to join the joint declaration through which the platform will be formally introduced at COP31.
Investment projects will be organized around five priority areas: green hydrogen, carbon capture, energy efficiency, renewable electricity and climate technologies.
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