The International Finance Corporation (IFC) has announced a $70m green loan to Çimsa Çimento San. ve Tic. A.Ş. (Çimsa), a leading cement manufacturer in Türkiye, to support its decarbonisation plans.
Plans include energy efficiency investments, modernisation, and the installation of solar photovoltaic panels as well as improvements in waste heat recovery systems and increased use of renewable energy, which are expected to help Çimsa reduce its greenhouse gas emissions by around 10%.
The green financing, the first of its kind for Çimsa, is expected to increase the company’s use of renewable energy to 20% by 2025.
Additionally, IFC’s Cement Decarbonisation Tool Advisory Service will help Çimsa identify operational improvements for its existing assets and further decarbonisation-related investments to achieve its sustainability targets.
Umut Zenar, CEO of Çimsa, said it sees sustainability as essential to the new economy.
He said, “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.”
Türkiye is the second largest cement exporter globally, with Çimsa making a significant contribution to this ranking. As cement production is considered a hard-to-abate sector with significant greenhouse gas emissions, this project also sets a precedent for sustainable practices in the Turkish cement industry.
“This investment underscores our commitment to supporting sustainable development in Türkiye,” said Lukas Casey, IFC’s Manager for Manufacturing, Agribusiness and Services in the Middle East, Central Asia and Türkiye.
“Supporting Çimsa in reducing its carbon footprint not only advances environmental sustainability but also boosts the Turkish cement industry competitiveness, demonstrating that these two objectives can effectively complement each other.”
Çimsa’s commitment to Science Based Targets initiative-approved sustainability targets includes achieving sustainability milestones by 2033 and reaching carbon neutrality by 2050. This project will help the country meet its net-zero emissions target by 2053 and comply with the EU’s Carbon Border Adjustment Mechanism (CBAM), set to be fully implemented by 2030.
The built environment accounts for approximately 40% of global CO2emissions from fuel combustion and 25% of global greenhouse-gas (GHG) emissions, while cement production accounts for 7% of global emissions.
Cement and concrete manufacturers are striving to reduce the amount of clinker in cement, cut CO2 emissions from energy used in the production process and storing or utilising remaining emissions.
Recycled cement and concrete materials can also be used in new buildings and construction, either as reusable modules or as materials that can be broken down and incorporated into new building materials.
Read more on decarbonisation in the December issue of gasworld global
