Chapter 6 | PROJECTS
climate industries allocation (¤2.5 million). In total, adapta- tion finance amounts to ¤7.5 million or US$7.8 million as of March 2024.
climate resilience needs. The classification is consistent with the OPEC Fund’s Climate Action Plan, which promotes rig- orous climate finance tracking and underscores the facility’s role in accelerating Türkiye’s transition toward its net-zero emissions target by 2053, while simultaneously building re- silience to climate impacts. The project therefore contributes 100 percent to climate finance of which 85 percent are miti- gation and 15 percent adaptation finance.
The “Climate Finance Facility” project is expected to provide a total of ¤42.5 million in mitigation finance and ¤7.5 million in adaptation finance, reflecting a strong emphasis on miti- gation investments, while also addressing Türkiye’s growing
“In February 2025, TSKB secured a ¤50 million loan from the OPEC Fund to finance renewable energy, energy efficiency, electricity distribution, climate adaptation, climate industries and circular economy investments in Türkiye. This financing aligns closely with Türkiye’s climate targets and its broader commit- ment to sustainability under the Paris Agreement and the 2030 SDG Agenda. In 2023, Türkiye updated its NDCs, increasing its carbon emissions reduction target from 21 percent to 41 percent, with a commitment to peak emissions by 2038 and achieve net-zero emissions by 2053. The government integrated climate goals into economic policies through initiatives such as the 12th National Development Plan (2024–2028), the national green taxonomy and sustainable finance regulations. Addi- tionally, the National Energy Plan (2022) set an ambitious goal to install 72 GW of renewable energy capacity by 2035, achieving a 65 percent share in total installed capacity and a 55 percent share in power generation.
set itself ambitious targets, including providing US$10 billion in SDG-related loans and US$4 billion in climate finance by 2030, while aligning its operations with net-zero goals by 2050. The collaboration between TSKB and the OPEC Fund represents a crucial step in aligning Türkiye’s climate ambitions with global sustainability initiatives. The ¤50 million loan from the OPEC Fund strengthens TSKB’s capacity to finance businesses committed to green technologies and sustainable infrastructure, fostering long-term economic stability and environmental resil- ience. By channeling investments into climate finance, this funding will accelerate Türkiye’s transition to a low-carbon economy, enhancing its global competi- tiveness and reinforcing its role as a pioneer in sustain- able development. The OPEC Fund’s involvement not only provides essential financial resources but also underscores the importance of international cooperation in achieving a greener future. Through its commitment to supporting Türkiye’s renewable energy and climate-focused projects, the OPEC Fund contributes to both national and global sustainability goals, demonstrating its dedi- cation to fostering a cleaner, more resilient world.”
In this regard, TSKB has been instrumental in driving Türkiye’s climate transition through its financial and advisory products in the private sector. The Bank has
MERAL MURATHAN Executive Vice President and Sustainability Leader, TSKB
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