Çimsa, a leader in driving the green transformation of the cement sector through its comprehensive sustainability projects at its production facilities in Afyon, Eskişehir, and Mersin, has secured a $70 million green loan from IFC.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, signed a $70 million green loan agreement with Çimsa, a Sabancı Group company. The loan will be used to finance Çimsa’s sustainability projects at its production facilities in Turkey.
“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.”
“PROUD TO LEAD TURKEY’S GREEN TRANSFORMATION”
Emphasizing that the company views sustainability not as a passing trend, but as a rapidly growing new economy worldwide, Çimsa CEO Umut Zenar stated: “Today, through the sustainability investments we are implementing across all Çimsa facilities, we aim to pioneer this new economy in our industry. As we do so, we are fully aware of the realities of the cement and building materials sector. This gives us added responsibility. If we can achieve this sustainability transformation within our sector, making our products, facilities, and supply chains part of the green mobilization, we will not only set an example for our industry but also send a powerful message to all other sectors. To date, we believe that Çimsa has set an example for the Turkish building materials industry with our investments, global expansion, and product diversity. Over the past few years, we’ve been particularly proud of the work we’ve done in areas such as alternative fuels, alternative raw materials, renewable energy, and clinker reduction, and we are honored to lead Turkey’s green transformation through our commitment to sustainability.”
Expressing his great satisfaction that Çimsa’s sustainability efforts have been endorsed by IFC, one of the world’s most respected organizations in its field, Umut Zenar added, “We see this agreement as the starting point of a long-term partnership with IFC. In line with our mid-term SBTi targets, IFC will not only provide financing to Çimsa but also guide our carbon reduction journey. Given Çimsa’s position as a net exporter, this partnership will make a significant contribution to our adaptation processes for the upcoming border carbon tax application. By transforming our expanded global footprint into added value for our country, we will continue to fulfill our responsibility to these lands.”
LAUNCH OF GREEN FINANCE FRAMEWORK
In tandem with its sustainability investments, Çimsa recently launched its Green Finance Framework, shaping its decarbonization roadmap around six key focus areas. Çimsa continues its investments and efforts in alternative raw materials, alternative fuels, product transformation, thermal and electrical efficiency, renewable energy, and new technologies. The company is also building its innovation efforts on the foundation of a circular economy at its R&D centers in Mersin and Munich.
Clinker Use Reduced by 10 Percentage Points in Four Years
- Prioritizing emission management by reducing clinker ratio, Çimsa decreased its clinker usage by 10% between 2020 and 2024 through innovation and product transformation efforts in this area.
- Leading the Turkish cement sector in alternative fuel technology, Çimsa achieved a 30% usage rate in 2023, while the current national average stands at around 12%.
Afyon and Eskişehir Plants to Produce Their Electricity Needs Through Renewable Sources
- Across all Çimsa facilities, 54% of electricity used in 2023 came from renewable energy sources, with a target of surpassing 80% by 2030.
- Following the completion of its solar power plant (SPP) investment at its Afyon facility in 2023, Çimsa recently began energy production at its SPP at the Buñol plant, with an investment of €4.2 million.
- Work is also underway on a solar plant at Çimsa’s Eskişehir facility, which will have an installed capacity of 14.2 MWp DC and produce approximately 19 million kWh of electricity annually. With these efforts, the Afyon and Eskişehir plants in Turkey are being planned to generate their required electricity through integrated systems.
With a roadmap approved by the Science Based Targets initiative (SBTi), one of the world’s most respected international standards, Çimsa is steadfastly working towards achieving its near-term 2030 greenhouse gas emission targets.
