Sustainability in the Construction Sector: Difficulty in Accessing Finance

The Importance of Environmental Factors in Construction Projects

Managing Partner of Altensis Dr. Emre Ilıcalı made striking evaluations on sustainability and the real estate sector in the Upper-Level program published on Bloomberg HT. Ilıcalı emphasized that the climate crisis has made green transformation a necessity.

Global Carbon Footprint Issue

Pointing out that the construction sector and industry are responsible for about 40% of the global carbon footprint, Ilıcalı stated that energy and water consumption in buildings is an important factor related to quality of life. Although Turkey plans to break records in the real estate sector by 2025, it has not yet reached the desired level.

25 Projects and 1 Billion Dollar Investment

Sharing information about the projects undertaken by Altensis, Ilıcalı announced that over 25 projects have been completed in six different countries, with a total budget exceeding 1 billion dollars. He noted that these completed projects have achieved up to 80% water savings, up to 45% energy savings, and a 46% reduction in carbon emissions.

Sustainability Legislation and Credit Access

Ilıcalı stated that Turkey's sustainability legislation is ahead of many countries, but there are points that need improvement in the areas of implementation and oversight. He noted that in Turkey, buildings with high energy identity certificates have better access to loans under more favorable conditions. It has been demonstrated that the sustainability level of buildings directly affects the cost and amount of loans.

Yes-TR System and Public Buildings

Running projects in many countries, including the Asia Pacific and Central Asia, Ilıcalı mentioned that Turkey's standards are good, but challenges are faced in monitoring and oversight processes. The Yes-TR system has become mandatory for public buildings since the beginning of this year. Ilıcalı emphasized that Turkey is moving forward within the framework of an action plan created for the sector in line with its 2053 carbon-neutral goals.

The Importance of Building Green

Ilıcalı stated that building green is not costly, but failing to comply with these criteria may lead to financing issues. He also warned that there could be difficulties in the permitting and licensing processes. He pointed out that not building green could result in more expensive consequences.

Altensis aims to complete more projects by 2026 and intends to support such projects not only through commercial means but also through training and conferences.