Türkiye to unveil $6B decarbonization platform at COP31
17:43, 04/11/2026, WednesdayU: Update: 17:56, 04/11/2026, Wednesday
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Industry and Technology Minister Mehmet Fatih Kacir said the Türkiye Industrial Decarbonization Investment Platform will be launched at the UN climate summit in Antalya, targeting heavy industry with over $6 billion in funding by 2030 to achieve annual emissions reductions of 20 million tons.
Industry and Technology Minister Mehmet Fatih Kacir announced that Türkiye will formally launch the Türkiye Industrial Decarbonization Investment Platform (TIDIP) at the 31st UN Climate Change Conference (COP31) in Antalya, unveiling an initiative designed to channel over $6 billion into heavy industry decarbonization efforts by 2030.
Multilateral backing
The platform was established through collaboration between Ankara’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). The Climate Investment Funds’ Clean Technology Fund has committed $250 million in initial financing, with additional financial institutions expected to join the joint declaration scheduled for release during the summit.
Sectoral targets
TIDIP will concentrate investment on carbon-intensive industries including iron and steel, aluminum, cement, and fertilizer production, targeting an annual reduction of 20 million tons of carbon dioxide equivalent emissions while mobilizing more than $6 billion by decade’s end. Decarbonization projects will cluster around five thematic pillars — green hydrogen, carbon capture, energy efficiency, renewable electricity, and emerging climate technologies — according to ministry officials.
EU partnership
Kacir emphasized that the initiative aims to fortify Ankara’s cooperation with Brussels throughout the green transition. “We believe that the €5.7 billion ($6.4 billion) in EU support to the platform during the IPA III (Instrument for Pre-accession Assistance in 2021-2027) period will significantly strengthen the platform and mobilize more financing for decarbonization investments, as we aim to build on the foundation we already established between Türkiye and the EU over the past 20 years and deepen our partnership via next-generation technologies and strategic investments,” he said. The summit will run from Nov. 9-20 in Antalya.