Şişecam Signs Major Investment

Şişecam Completes Significant Investment Şişecam exercised its purchase option on the 10% stake held by the European Bank for Reconstruction and Development (EBRD) in Şişecam Çevre Sistemleri A.Ş. In 2016, Şişecam and EBRD took an important step that would open the way for glass recycling in Turkey, establishing a new company called "Şişecam Çevre Sistemleri A.Ş." through their partnership. With the completion of the acquisition today, Şişecam has become the sole shareholder of Şişecam Çevre Sistemler A.Ş., a company with growth potential that directly serves its sustainability objectives. Şişecam Çevre Sistemleri A.Ş., established in 2016 by Şişecam and the European Bank for Reconstruction and Development (EBRD), is now wholly owned by Şişecam. Over a seven-year period, the company has supported the industrialization of the glass waste collection and recycling sector in Turkey. Şişecam, which continues its efforts to become one of the world's three largest producers in its core business areas and maintains its investment trajectory toward this goal, became the sole shareholder of the company when it exercised the purchase option for EBRD's 10% stake in Şişecam Çevre Sistemleri A.Ş. on 24 April 2023. Şişecam Çevre Sistemleri A.Ş., established through the partnership of Şişecam and EBRD, has supported sector players on the path to industrialization by focusing on ecosystem financing, with the vision of establishing state-of-the-art facilities that would enable the production of higher-quality recycled glass from its inception. Şişecam Çevre Sistemleri A.Ş. has so far facilitated infrastructure and facility investments by glass waste recovery companies in Turkey and the establishment of state-of-the-art facilities. Şişecam has also played an active and pioneering role in quality recycled glass production by establishing its own licensed facilities in this field.

Cullet usage rate to be raised to 35%

As a strong and established player in the glass sector, Şişecam continues its activities in glass recycling and has been implementing important projects through circular economy initiatives for many years. In line with its CareforNext Sustainability Strategy, Şişecam has made concrete commitments with specific targets. Operating with production facilities across 4 continents and 14 countries, Şişecam aims to increase the cullet usage rate in its glass container production processes to 35% by 2030. In glass production, an energy-intensive industry, the use of cullet reduces natural raw material requirements and also lowers energy consumption. Through the use of cullet obtained from recovered waste glass, it becomes possible to reduce the carbon emissions generated throughout a bottle's entire life cycle by more than 50%, depending on the cullet usage rate. Since 2011, Şişecam has been implementing the "Glass into Glass" Project, one of Turkey's most comprehensive sustainability and social responsibility initiatives. Through this project, Şişecam aims to create a behavioral change in society and support the transition to a recycling society. Via the Glass into Glass initiative, Şişecam has played an active role in recycling 2 million tons of cullet to date. Şişecam aims to extend the benefits derived from glass's recycling capacity to other countries where it operates through sustainability-focused projects and investments. Drawing strength from its broad global presence, Şişecam plans to increase its positive impact in this field and continues to be an active stakeholder working for a better world through investments aligned with its sustainability objectives. With its 5,000-year history, glass is a valuable material for a sustainable future and offers the most appropriate solutions for the planet's needs thanks to its ability to be recycled 100% and infinitely without any loss of quality. In this context, glass recycling also promises significant potential. With the introduction of a deposit return system in Turkey, the sector expects this potential to gain momentum, and new investments in this field are projected to accelerate.