Climate Finance Summit Emphasizes Need for 9 Trillion Dollars
At the summit held ahead of COP 31 in Antalya in November, it was announced that the global climate finance need has reached 9 trillion dollars.
Speaking at the Climate Finance Summit held ahead of COP 31 to take place in Antalya in November, Minister of Environment, Urbanization and Climate Change Murat Kurum stated that the climate finance need has reached 9 trillion dollars and called on world leaders.
Climate Finance Need
Resources to combat climate change were discussed at the Climate Finance Summit ahead of COP 31, which will be held in Antalya in November.
Minister of Environment, Urbanization and Climate Change Murat Kurum stated that while the need for climate finance is between 7.5 and 9 trillion dollars, the current financing spent for the world is approximately 1.9 trillion dollars.
Green Transformation and Market Opportunities
Minister Kurum stated that the biggest market in the upcoming period will be the fight against climate change and green transformation.
He emphasized that those who invest early in this transformation will get their returns in a short time and traditional sectors will shrink.
Climate Implementation Bridge and SURFF
It was stated that the Climate Implementation Bridge was established by the COP31 Presidency, aiming to close the gap between national targets and implementation.
It was stated that the SURFF application offers a holistic approach that brings together finance, project preparation capacity, and implementation.
Investments to Combat Mucilage
It was announced that a joint will was formed with the Asian Development Bank to protect the Sea of Marmara and combat mucilage.
It was reported that an investment package worth 400 million euros, primarily advanced biological wastewater treatment plants, is targeted.
Energy Efficiency and 20 Billion Dollars
Minister of Energy and Natural Resources Alparslan Bayraktar stated that access to affordable financing for developing countries is critical.
He noted that an investment of over 20 billion dollars covering the industry, buildings, transportation, agriculture, and energy sectors is envisioned for the 2024-2030 period.
Support from the Banking Sector
Banks Association of Turkey President Alparslan Çakar stated that they are ready to contribute to the development of the financing architecture of the transformation.
Participation Banks Association of Turkey President Mehmet Ali Akben stated that this process is an important opportunity in terms of sustainable financing.