Ali Y. Koç Emphasizes Sustainability and Renewable Energy at COP31
Speaking at the COP31 Business Forum in New York, Ali Y. Koç emphasized that climate policies must be reconciled with economic reality, drawing attention to Turkey's renewable energy capacity.
Koç Holding Vice Chairman Ali Y. Koç pointed out the importance of finding common ground between climate policies and economic sustainability during his speech at the COP31 Business Forum within the scope of New York Climate Week.
Global Gathering at the COP31 Business Forum
The COP31 Business Forum New York Dialogue, held in New York, brought together global business leaders and senior officials. Hosted by the Union of Chambers and Commodity Exchanges of Turkey and Bloomberg, the event featured representatives of international organizations and ministers.
Economic Conditions and Inequality of Competition
Stating that companies are also competing with economic systems today, Ali Y. Koç expressed that financing costs and strict climate policies create different price pressures on businesses in developing countries.
Disparities in Public Incentives
Touching upon the importance of public policies, Koç pointed out the effects of this situation on global competition by stating that public support received by companies in China is many times higher compared to other OECD countries.
Energy Security and the Need for Clean Energy
Stating that dependence on imported fuels directly affects business operating costs and inflation, Koç said that it is a priority for Turkey to turn to renewable clean energy in order to compete in the international arena.
Capacity Exists, Storage Problems Encountered
Emphasizing that Turkey's renewable energy potential is high, Koç stated that the current capacity of 60-63% can only be utilized at a rate of 40% because there are no storage facilities available.
Leadership and Value Chain in Green Transition
Stating that long-term green transformation steps require strong leadership, Koç added that large companies should actively support the transformation of SMEs within the value chain.