Near Zero Waste in Türkiye: Moving Toward a Circular Economy by Monetizing Waste

To encourage circular economy practices in Turkish industry that would minimize industrial waste, the European Bank for Reconstruction and Development (EBRD) launched the Near Zero Waste (NØW) program in 2015. A key component of this program was the provision of concessional financing from the Climate Investment Funds’ (CIF) Clean Technology Fund (CTF). By reducing first-mover risks and showcasing successful demonstration projects, the program aimed to inspire wide replication of successful approaches that would reduce GHG emissions. As of 2019, it had achieved annual direct and indirect savings of 500,000 tons of CO₂ e per annum, five times the target set at the beginning of the program at 100,000 tons of CO₂ e per annum. The program demonstrated the importance of blended finance to remove first-mover disadvantages and the importance of adaptability in program implementation. This case discusses challenges that program implementers faced during implementation and how these challenges were overcome.

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