Held in Antalya on 12–13 November under the theme “From Ambition to Delivery," the COP31 Business and Investment Summit brought together more than 1,500 participants from 55 countries. Coordinated by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), the Summit featured Vice President Cevdet Yılmaz, COP31 President and Minister of Environment, Urbanization and Climate Change Murat Kurum, Investment and Finance Office President A. Burak Dağlıoğlu, and TOBB President M. Rifat Hisarcıklıoğlu.
In his remarks, Vice President Yılmaz said the green transition could reduce fossil fuel imports and support macroeconomic stability. He stressed the need to engage the private sector and called for finance-ready projects, appropriate financing instruments and public-private cooperation to turn climate commitments into investment.
He also highlighted the scale of the financing challenge for industry. More than USD 500 billion in cumulative investment will be needed between 2026 and 2035 for low- and near-zero-emission steel and cement production. Projects that have reached a final investment decision currently total USD 20 billion.
Vice President Yılmaz said financing, infrastructure, reliable demand and long-term market predictability are essential to turning technological solutions into investment decisions.
During his speech, Minister Kurum highlighted the strong interest in COP31 and outlined the Presidency's ten-point Action Agenda, covering areas including clean energy, green industry, waste, methane reduction, resilient cities and food security.
On the sidelines of the Summit, Dağlıoğlu also participated in the COP31 Business and Investment Forum | Climate Finance and Investment Roundtable Meeting. Participants discussed barriers to private investment in climate projects, including fragmented project pipelines, regulatory uncertainty, risk allocation and gaps in reliable data.
The discussion also addressed the financing needs of emerging markets and developing economies, estimated at USD 2.4 trillion annually by 2030, including around USD 1 trillion from private sources.