$70M IFC Green Loan to Çimsa Cement for Decarbonization in Türkiye’s Cement Industry

The IFC financing will enable Çimsa to implement a series of initiatives, including energy-efficient upgrades, modernization of its production facilities, and the integration of solar photovoltaic systems.

In a landmark deal, the International Finance Corporation (IFC) has extended a $70 million green loan to Çimsa Çimento San. ve Tic. A.Ş. (Çimsa), a major player in Türkiye’s cement industry, to support the company’s ambitious decarbonization agenda. The investment aims to enhance Çimsa’s operational efficiency and environmental sustainability, aligning with Türkiye’s net-zero goals and preparing the company to meet the EU's upcoming Carbon Border Adjustment Mechanism (CBAM).

The IFC financing will enable Çimsa to implement a series of initiatives, including energy-efficient upgrades, modernization of its production facilities, and the integration of solar photovoltaic systems. Waste heat recovery enhancements and expanded renewable energy use will reduce greenhouse gas emissions by an estimated 10 percent, while the share of renewable energy in the company’s operations is expected to reach 20 percent by 2025.

Additionally, Çimsa will benefit from the IFC's Cement Decarbonization Tool Advisory Service, which provides insights into operational improvements for decarbonization. This advisory support will guide Çimsa in meeting its Science Based Targets initiative-approved sustainability milestones by 2033 and in achieving carbon neutrality by 2050.

"Çimsa sees sustainability as essential to the new economy,” said Umut Zenar, CEO of Çimsa. "We are committed to leading this transformation within the cement sector through our investments in alternative fuels, renewable energy, and clinker reduction. Our goal is to embed sustainability across our products, facilities, and supply chain, setting an industry-wide standard for Türkiye’s green transformation."

As the world’s second-largest cement exporter, Türkiye relies heavily on this sector, which is known for its emissions intensity. The investment underscores IFC's commitment to fostering sustainable development in Türkiye, with Lukas Casey, IFC’s Manager for Manufacturing, Agribusiness, and Services in the Middle East, Central Asia, and Türkiye, noting, “Supporting Çimsa in reducing its carbon footprint advances environmental sustainability while boosting the competitiveness of Türkiye’s cement industry. This project demonstrates that sustainability and economic growth can effectively complement each other.”

This green financing aligns closely with Türkiye's environmental targets, supporting the country's path to net-zero emissions by 2053 and ensuring compliance with global sustainability standards.