Financing of Green Transition and Electrification Discussed at COP31 Summit

During their evaluations within the scope of COP31, Yıldız and Yılmaz drew attention to the financing of the green transition and the importance of electrification.

Sharing his views on the COP31 summit, Yıldız emphasized the importance of reducing carbon emissions and electrification. Stating that everyone agrees on the diagnosis, Yıldız expressed that discussions are focused on how the treatment will be and who will shoulder how much of the burden. Pointing out that global warming has become an irreversible phenomenon, Yıldız drew attention to the fact that Turkey and the world have a serious financing deficit for the transition to electrification.

Stating that almost two-thirds of production capacity in Turkey is provided from renewable sources, but the rate in electricity generation is lower, Yıldız said that electricity must be generated from eco-friendly sources and stored due to the imbalance between generation and demand, which also requires serious investment.

Yılmaz, on the other hand, stated that the risks in the next 10 years are entirely environmental problems, noting that global warming leads to extraordinary weather events, wildfires, and storms. Noting that the agricultural products most affected by global warming are wheat, corn, soy, and rice, Yılmaz emphasized that this situation causes a serious food problem and involuntary migration. Yılmaz voiced that 5 to 10-year visions are required to solve these problems and that the effects of global warming must be explained to voters.