COP31 BUSINESS FORUM BRINGS TOGETHER THE GLOBAL BUSINESS COMMUNITY IN NEW YORK

Ahead of the COP31 Summit, to be held under Türkiye’s presidency from 9 to 20 November, the COP31 Business Forum, chaired by Union of Chambers and Commodity Exchanges of Türkiye (TOBB) President M. Rifat Hisarcıklıoğlu, convened in the United States. Kütahya Chamber of Commerce and Industry (KUTSO) Chairman of the Board of Directors Esin Güral Argat was among the participants in the COP31 Business Forum’s New York Dialogue, which was held with broad international participation.

Organised as part of New York Climate Week, the COP31 Business Forum New York Dialogue brought together more than 300 senior executives from the international business community. The event was jointly hosted by TOBB President and COP31 Business Forum Chairman M. Rifat Hisarcıklıoğlu and Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies. Minister of Environment, Urbanisation and Climate Change and COP31 President Murat Kurum, who attended as the guest of honour, delivered a presentation introducing the COP31 Action Agenda to the global business community. Minister Kurum noted that businesses primarily need predictability, reliable demand for green products, access to finance and risk management, robust data and verification mechanisms, as well as knowledge, capacity and support for SMEs.

COP31 to Focus on Implementation Rather Than Pledges

Delivering the opening speech, Hisarcıklıoğlu emphasised that the COP31 Action Agenda, with its clear, measurable and actionable structure, focuses on implementation rather than new pledges. Stating that governments set the direction while the business community is responsible for turning these objectives into action, Hisarcıklıoğlu announced that the COP31 Business Forum, which has more than 700 members, would prepare a business roadmap for the Action Agenda. In this context, he identified three key needs of the business community: financing that also reaches projects in emerging markets, clear and stable rules, and genuine demand generated through public procurement. Hisarcıklıoğlu added that he viewed climate action not as a cost for businesses, but rather as a major investment opportunity.

During the event, a panel entitled “Private Sector Response to the COP31 Action Agenda” examined the private sector’s contribution to implementing the agenda. Ali Koç, Vice Chairman of the Board of Directors of Koç Holding; Dr Fatih Birol, Executive Director of the International Energy Agency (IEA); Makhtar Diop, Managing Director of the International Finance Corporation (IFC); and John Denton, Secretary General of the International Chamber of Commerce (ICC), shared their views during the panel.

A Historic Opportunity for the Turkish Business Community and SMEs

Esin Güral Argat, Chairman of the Board of Directors of the Kütahya Chamber of Commerce and Industry (KUTSO), also attended the event. Commenting on the programme, Güral Argat stated that the 2035 targets set out in the COP31 Action Agenda provide an important roadmap for the transformation to take place over the next decade. She noted that the targets relating to electrification, the circular use of materials and energy intensity across sectors envisage a far-reaching transformation spanning energy, industry, manufacturing and trade.

Güral Argat also underlined that Türkiye’s hosting of COP31 and assumption of its presidency represent a historic opportunity for the country to take its place among those shaping the global climate agenda. She stated that the summit would provide the Turkish business community with the opportunity to engage on home soil with investors, financial institutions and decision-makers from around the world.

Supporting the Transformation of SMEs

Emphasising that climate targets cannot be achieved solely through the actions of large-scale companies, Esin Güral Argat stated that SMEs, which form the backbone of the economy, must be active participants in this transformation. She stressed that SMEs require technical expertise, measurement infrastructure and accessible financing to achieve this.

Güral Argat stated that KUTSO is working to prepare businesses in Kütahya for this transformation and affirmed that the Chamber would continue to stand by its members throughout their green transition.

News: KUTSO Press Office