Türkiye urges stronger financing partnerships to turn COP31 pledges into investment

Türkiye aims to turn climate commitments into investments through COP31, officials and business leaders said on Friday, urging stronger cooperation between governments, banks and international investors. Speaking at the Investment Summit Towards COP31 in Istanbul, Halil Hasar, head of climate change at the environment ministry and COP31 chief climate diplomacy officer, said the country seeks to build consensus and translate agreements into action. Organized by the presidency’s Investment and Finance Office and the International Investors Association (YASED), the summit gathered policymakers, financiers and businesses ahead of COP31 in Antalya. Hasar said Türkiye aims to bring its experience in peace diplomacy to climate negotiations, helping countries with different priorities work toward common goals. “Let us not just establish dialogue; after talking around the table, let us reach a consensus,” he said. “Let us turn that consensus into action.” As the Paris Agreement enters its second decade, implementation must accelerate, with private capital essential to meeting developing countries’ financing needs, he added. Banks support energy transition Ziraat Bank CEO Alpaslan Cakar said green transition is a strategic priority for Türkiye’s competitiveness, while developments around the Strait of Hormuz underscore the importance of reducing dependence on imported energy. Turkish banking sector loans to the energy industry have exceeded 1 trillion Turkish liras, energy investments financed through project finance have surpassed 695 billion liras, and renewable energy loans have topped 340 billion liras, he said. “Finance should be seen not only as providing resources, but as a tool that enables investments to be implemented,” Cakar said. Clear targets, credible transition plans and transparent reporting can help industries cut emissions while preserving production and exports, he added. International investors seek predictable conditions YASED Chairman Ali Fuat Orhonoglu said international investment brings capital, technology and expertise to Türkiye’s green transition. The association represents 280 companies from 35 countries and supports Türkiye’s target of reaching 120 gigawatts of combined wind and solar capacity by 2035, he said. Developing countries face an annual investment gap of around $4 trillion to achieve sustainable development goals, roughly half related to energy transition investment, Orhonoglu said. COP31 offers an opportunity to attract partnerships, but lasting gains require predictable investment conditions, modern infrastructure and reforms, he added.