Earlier this month, Ronesans Enerji unveiled its Green Finance Framework, aimed at promoting sustainable development in Turkey. This initiative, a collaboration between financial investment institution Ronesans Holding and TotalEnergies, seeks to advance proactive green finance projects.
The framework focuses on specific sustainability goals, which include the production of green hydrogen, reducing greenhouse gas emissions, and enhancing resource efficiency.
Emre Hatem, a board member of Ronesans Holding and president of the Energy Group, highlighted the initiative’s objectives: “Since its inception, Rönesans Enerji has solely invested in green energy and will continue to expand with a 100% green energy portfolio in the future. We plan to invest in bringing 2000MW of green energy capacity online by 2028. By completing our current projects under construction and development, we aim to achieve an installed capacity of over 700 MW by the end of 2026 in the first phase. Over the next five years, we target approximately 7% to 10% of the green energy investments outlined in Türkiye’s National Energy Plan.”
This initiative adheres to Turkey’s Capital Markets Board (CMB) regulations for green debt investments and is backed by ING as a sustainability advisor. It aligns with the Green Bond Principles of the International Capital Market Association (ICMA), Green Loan Principles of the Loan Market Association (LMA), and the Loan Syndications and Trading Association (LSTA), as well as the Asia Pacific Loan Market Association (APLMA). Ronesans’s framework is among the first to include guidelines from the CMB, enhancing the board’s recognition.
İpek Ilıcak Kayaalp, a member of the Board of Directors of Rönesans Holding, stated, “We are committed to building a better, more sustainable future. Our journey continues with determination, aiming to set an example in every sector in which we operate.”
She emphasized the importance of collaboration in their strategy: “We are actively engaging with 40 international banks globally to finance our investments under favorable conditions. To date, we have invested over EUR 8 billion in Türkiye, with more than 90% of this investment made in partnership with these banks. The first element that foreign creditors evaluate is the ESG report, which Rönesans Enerji secured last year. With our Green Finance Framework, we will have easier access to financing instruments that support renewable energy, thereby enhancing our contribution to Türkiye’s sustainable future.”
Several other countries have established green finance frameworks, including the UK’s Mobilising Green Investment: 2023 Green Finance Strategy, the Monetary Authority of Singapore’s Green Finance Industry Taskforce, Hong Kong’s green finance exchange, and Stockholm’s green finance initiative.
Discussions on green finance and sustainable development will be featured at Finextra’s annual Sustainable Finance Live conference on October 8 at Events@No6 in London. For more information about the agenda and registration, visit the event page.