The International Finance Corporation (IFC) provided a $70 million green loan to Çimsa Çimento San. ve Tic. A.Ş. (Çimsa), a leading cement manufacturer in Türkiye, to support its significant decarbonisation initiative.
This funding supports Çimsa’s significant decarbonisation initiative, enhancing the company’s sustainability practices.
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Funding for Energy Efficiency and Renewable Energy Initiatives
IFC’s financing will Çimsa modernise its operations by investing in energy-efficient technologies, such as enhancements in waste heat recovery systems.
The investment will also include the installation of solar photovoltaic panels.
Notably, the project aims to reduce Çimsa’s greenhouse gas emissions by approximately 10 per cent while increasing its renewable energy contribution to 20 per cent by 2025.
As this marks Çimsa’s first green loan, it highlights the company’s dedication to sustainable practices within the cement industry.
Umut Zenar, CEO of Çimsa said, “Çimsa sees sustainability as essential to the new economy.”
He added, “Through our investments in alternative fuels, renewable energy, and clinker reduction, we are committed to pioneering this transformation within the sector. By embedding sustainability across our products, facilities, and supply chain, we aim to inspire change industry-wide and lead Türkiye’s green transformation.”
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Pioneering Green Practices in Türkiye’s Cement Sector
Türkiye, as the world’s second-largest cement exporter, relies on a high-emission industry that’s hard to decarbonise.
Çimsa’s initiative sets a key example for sustainable cement production and transitioning to greener operations.
The company’s sustainability objectives have received approval from the Science Based Targets initiative, with plans for major milestones by 2033.
This initiative also aligns with Türkiye’s broader environmental goals, contributing to the country’s goal of achieving net-zero emissions by 2053.
Additionally, the project helps Türkiye’s cement industry prepare for compliance with the EU’s Carbon Border Adjustment Mechanism (CBAM), which will be fully enforced by 2030.