At a high-level finance dialogue held in Berlin ahead of COP31, participants discussed strengthening public–private cooperation to turn climate goals into investment decisions, transformation in the real economy and implementable projects.
In line with the approach of Türkiye’s COP31 Presidency to bring climate goals together with concrete action, the role of climate finance in transformation processes was brought to the agenda at a high-level meeting held in Berlin.
The “Towards COP31: High-Level Finance Roundtable Dialogue”, organized in cooperation with the Zero Waste Foundation, was held under the theme “Mobilizing Capital for the Transformation of the Real Economy”. The meeting assessed steps that can be taken to turn climate commitments into investment decisions, provide finance to sectors in need of transformation and scale up public–private partnerships.
Work carried out in line with the approach centered on resource efficiency, waste prevention and the circular economy put forward by Emine Erdoğan, Founder of the Zero Waste Movement, Chair of the United Nations High-Level Advisory Board on Zero Waste and Honorary President of the Zero Waste Foundation, was also addressed from the finance and investment perspective of climate action.
At the Berlin meeting, which reflects on the international finance agenda the implementation- and results-oriented approach that stands out in COP31 preparations led by Murat Kurum, Minister of Environment, Urbanization and Climate Change and President of COP31, it was stressed that climate goals should not remain only in policy documents and must be carried into investment and implementation processes.
Finance Plays a Decisive Role in COP31’s Implementation Agenda
Samed Ağırbaş, President of the Zero Waste Foundation and COP31 High-Level Climate Champion, also attended the meeting.
Drawing attention to the importance of public–private cooperation in turning climate goals into concrete projects and investments, Ağırbaş said: “Governments cannot achieve the climate transformation on their own. We need the private sector. We need finance, and we need to turn our ambitious climate goals into concrete projects and investments.”
The Outcome of Climate Action Will Be Seen in People’s Lives
Emphasizing that climate action is not only about financial and technical goals, Ağırbaş said: “We must also remember that people are at the heart of climate action. Climate action should mean cleaner cities, new employment opportunities, stronger societies and better use of our resources.” Ağırbaş noted that this approach can also be seen in concrete form in the Zero Waste Movement, led by Emine Erdoğan, the spouse of our President.
From the Berlin Dialogue to the Implementation Agenda in Antalya
Saying, “Under the leadership of our COP31 President, Minister Murat Kurum, we want COP31 to be action- and implementation-oriented,” Ağırbaş noted that they are working to make COP31 an action- and implementation-oriented summit, and added: “Our goal is simple: To bring the public and private sectors even closer together. To connect good ideas with finance. And to turn commitments into workable solutions.”
Ağırbaş pointed to the importance of carrying the concrete ideas and strong partnerships that emerged at the Berlin dialogue meeting to COP31.
From Financing Models to Sectoral Transformation
In the first part of the discussions in Berlin, the financing of climate transformation across different sectors was addressed.
In the session titled “Financing Sectoral Transformation”, the financing models needed for transformation in energy, heavy industry, transport, buildings, food systems, nature and cities were assessed.
In addition to Zero Waste and circular economy practices, the development of projects that can access finance, the creation of funding pools for investment projects, blended finance models and industrial competitiveness were also on the agenda.
The assessments stressed that setting goals alone is not enough to achieve climate targets; an investment environment, financing instruments and implementable project portfolios that support those goals must be built.
New Approaches for Long-Term Capital Were Assessed
The second part of the program addressed the role of institutional investors in accelerating climate transformation.
In the session titled “The Role of Institutional Investors in Accelerating Transformation”, directing long-term capital toward the sustainability transition was assessed.
Alongside transition finance, the discussion focused on the leadership of asset owners, investments aligned with the Paris Agreement, investor responsibilities, transition planning and the interaction between the real economy and investors.
The Climate Agenda for Banking, Insurance and Capital Markets
The third session assessed the role of the private finance sector in climate transformation.
In the session titled “Scaling Up the Leadership of the Private Finance Sector”, the contribution of banks, insurance companies and capital markets to implementing climate action was addressed.
Net-zero transition, adaptation to climate change, the leadership of the banking sector, the role of insurance in strengthening resilience, sustainable capital markets and scaling up blended finance were among the meeting’s prominent topics.
It was assessed that, in addition to public resources, private capital must also be mobilized to reach climate goals, and that the finance sector must develop instruments that support transformation in the real economy.
The Finance Agenda to Be Carried from Berlin to Antalya
In the high-level roundtable titled “From Dialogue to Implementation”, held in the final part of the program, the discussion turned to converting the assessments made throughout the day into concrete partnerships.
In this context, the agenda included identifying implementation partnerships to support the COP31 Action Agenda, shaping the draft Finance Action Document Towards COP31, and developing the finance messages to be carried to COP31 in Antalya.
“Let Us Turn the Ideas That Have Emerged and the Partnerships We Have Built into Concrete Action”
Closing the meeting, Ağırbaş said that more capital must be channeled into the real economy and ideas must be turned into bankable projects: “The private sector is vital not only as a source of finance, but also as an implementation partner.” Reminding participants that about 40 days remain until COP31, Ağırbaş said: “Our work should not end when we leave this room. Let us turn the ideas that have emerged today and the partnerships we have built into concrete action. In Antalya, we must be able to show what we can achieve together on the path to implementation.”
The high-level finance dialogue held in Berlin contributed to developing the ground for international cooperation to strengthen climate finance, in line with COP31’s focus on implementation.
The financing models, investment instruments and implementation partnerships discussed at the meeting are expected to contribute to efforts to ensure that climate goals find a response in the real economy within COP31 to be held in Antalya.
