EBRD lends to Brisa to make low-emission tyres

• Loan to Turkish tyre manufacturer to finance capital expenditure programme
• Financing to support the modernisation of facilities for greener products
• Investment programme to reduce Scope 3 emissions by 139,000 tonnes annually

The European Bank for Reconstruction and Development (EBRD) is providing a loan of US$ 100 million to tyre manufacturer Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret A.S. in Türkiye to support the financing of the company’s capital expenditure programme.

The proceeds of the loan will be used to buy new machines and equipment and to increase the capacity of the company’s Aksaray plant, as well as to modernise its Izmit plant, in a bid to boost the manufacture of fuel-efficient and low-carbon-emission products.

The expenditure programme will have significant climate change mitigation benefits and help Brisa to reduce its Scope 3 carbon emissions by 139,000 tonnes annually. It will also enable the company to better align with the goals of the Paris Agreement.

Brisa is a significant and pioneering player in its sector, manufacturing a portfolio of environmentally friendly tyre products that are lower in weight, rolling resistance, carbon emissions and noise. Its entire product portfolio is eligible under the EU taxonomy and criteria linked to substantial lifecycle emissions.

Hande Islak, the EBRD’s Deputy Head of Türkiye, welcomed the transaction, saying: “As a long-term partner of the EBRD, Brisa has been dedicated to following green principles, and we are confident that our collaboration on this transaction will further support the company in committing to a sustainable future. As a leader in its field, Brisa’s actions will not only render the company more competitive, but also allow it to pave the way for industry-wide transformation.”

Brisa CEO Haluk Kürkçü said, “We are taking firm steps towards net zero in 2050, having determined concrete targets and actions in the field of sustainability. Our vision is to be an example to society with a reduced carbon footprint, together with all our stakeholders. To this end, we plan our investments in two ways, to contribute to our sustainability goals and to be growth-oriented. This US$ 100 million loan agreement signed with the EBRD is an important milestone and the result of our company’s strong financial structure, goals for the future and strong position on sustainability.”

To date, the EBRD has invested more than €18.5 billion in the Turkish economy, largely in the private sector.