Dr. Hulusi Bahcivan, CARF Lead Researcher and Adjunct Finance Faculty in the Department of Management at Boğaziçi University, participated as a speaker in the Green Transformation Summit organized by Para Magazine on 14 October 2026.
Ahead of COP31, the summit was held online, bringing together representatives from the public sector, business, finance, academia, and the sustainability ecosystem to discuss Türkiye’s green transformation agenda and its implications for industry and investment. The event addressed issues including the green transformation of industry and SMEs, financing for renewable energy and energy efficiency investments, and emerging green finance instruments and models.
Dr. Bahcivan joined the panel “The Future of Sustainable Finance – New Financing Models for Sustainable and Green Investments,” together with Erkin Erimez, Managing Partner at ARGE Consulting. The discussion focused on the financing challenges associated with the green transition, the evolving expectations of investors and financial institutions, and the conditions needed to improve companies’ access to sustainable finance.
Dr. Bahcivan shared findings from CARF’s recent study conducted in collaboration with the Republic of Türkiye Ministry of Industry and Technology and the World Bank. He stressed that the barriers to green transformation extend beyond access to finance, pointing to significant gaps in awareness, measurement capacity, and qualified human resources.
Dr. Bahcivan also highlighted the importance of designing financing mechanisms around the specific needs of SMEs, particularly given the longer payback periods associated with green investments. Drawing on CARF’s research, he noted that the estimated financing requirement for the green transformation of Türkiye’s manufacturing ecosystem could reach approximately USD 57 billion, while focusing on firms that can realistically be served brings the estimated financing need to roughly USD 13.1 billion. Moreover, the immediate financing need among firms that already have concrete investment plans is estimated at around USD 1.4 billion.
He further emphasized that green and digital transformation should be addressed together, as stronger digital capabilities can support the measurement and monitoring required for effective green transformation and improve the quality of investment projects seeking finance.
The session highlighted the importance of combining access to finance with stronger measurement capabilities, credible transition plans, and greater institutional capacity to support Türkiye’s green transformation. The discussion also underscored the need for closer collaboration among businesses, financial institutions, public authorities, and academia as Türkiye prepares for the next phase of its sustainability agenda.
