Turkey's Ambitious Low-Carbon Industrial Strategy
Key Ideas
- Turkey aims to triple hi-tech exports to $30bn by 2030 and nearly double industrial exports to $400bn in five years through a comprehensive industrial and technology strategy.
- The country is embracing low-carbon opportunities such as hydrogen fuel cells, carbon capture and storage, and green energy partnerships to achieve its Net Zero emissions goals by 2053.
- Partnerships and agreements with international entities like the Türkiye Wealth Fund and EET Hydrogen are driving investments in renewable energy and green technologies like hydrogen production.
- Turkey's transition to green hydrogen and green steel production, coupled with efforts to reduce emissions in industries like cement, position it as a key player in the global push for decarbonisation.
Turkey has unveiled an ambitious industrial and technology strategy targeting 27 key areas, including hydrogen fuel cells, carbon capture and storage, and digital infrastructure. The goal is to significantly increase hi-tech and industrial exports by 2030, while tackling the challenge of decarbonisation to achieve Net Zero emissions by 2053. The country, known for its east-west location, is leveraging international partnerships to grow its renewable and green energy sector. Recent deals with firms like EET Hydrogen and agreements with countries like Iraq and Kazakhstan highlight Turkey's commitment to green technologies. The country's focus on green hydrogen production, coupled with its potential to become a hub for green steel, showcases its determination to align with global decarbonisation efforts. Despite its current reliance on fossil fuels for electricity generation, Turkey is making strides towards increasing its share of renewables and transitioning to low-carbon industrial processes. The integration of green hydrogen production facilities with existing infrastructure and the proximity to Europe position Turkey as a potential leader in the green hydrogen trade. With significant investments required to meet the rising demand for green hydrogen and achieve decarbonisation targets, Turkey's success hinges on the interplay of policy, investment, and geopolitical factors in the coming years.