Organized in cooperation with the Zero Waste Foundation, the Ministry of Treasury and Finance, the Ministry of Environment, Urbanization and Climate Change, and the United Nations in Türkiye, the "Towards COP31: Climate Finance Policy Dialogue" hosted a high-level meeting aimed at developing the financing sources and mechanisms needed to implement Türkiye's climate goals.
During the program held at the Ziraat Bank Headquarters in the Istanbul Finance Center, topics such as aligning public and private sector investments with climate goals, developing investable climate projects, mobilizing private capital, and strengthening cooperation between national and international financial institutions were discussed.
The zero waste approach, introduced by First Lady Emine Erdoğan—Founder of the Zero Waste Movement, Chairperson of the United Nations Advisory Board of Eminent Persons on Zero Waste, and Honorary Chairperson of the Zero Waste Foundation—which is based on preventing squander, using resources efficiently, expanding sustainable production and consumption models, and strengthening the circular economy, also reinforced the framework of the program as an important element of the holistic transformation understanding considered alongside climate action.
The Finance Agenda Meets in Istanbul on the Road to COP31
The policy dialogue organized to develop Türkiye's climate finance capacity in the process leading up to COP31 brought together numerous representatives from the public sector, the financial sector, international organizations, the private sector, academia, and civil society.
The program was attended by Minister of Treasury and Finance Mehmet Şimşek, Zero Waste Foundation President and COP31 High-Level Climate Champion Samed Ağırbaş, International Energy Agency Executive Director Fatih Birol, UN Resident Coordinator in Türkiye Dr. Babatunde Ahonsi, UN Assistant Secretary-General and Director of UNDP’s Bureau for Policy and Programme Support Marcos Neto, World Bank Country Director for Türkiye Jean-Christophe Carret, Asian Infrastructure Investment Bank Vice President Ajay Bhushan Pandey, Ziraat Bank CEO Alpaslan Çakar, as well as representatives from Ziraat Bank, VakıfBank, Halkbank, İşbank, Türk Eximbank, QNB, Akbank, universities, TİKA, ambassadors, international organizations, the private sector, sector associations, and NGOs.
Mehmet Şimşek (Minister of Treasury and Finance)
"Istanbul is a city of bridges. It connects continents, people, and ideas. This is particularly meaningful today as countries seek ways to close the gap between their climate commitments and the financing needed to realize these goals."
Minister Şimşek stated that public resources alone are not enough, adding, "No finance minister has an extra few billion dollars lying around. Therefore, the main issue is how to increase the impact of public resources and how to ensure private investors feel confident to invest."
Dr. Babatunde Ahonsi (UN Resident Coordinator in Türkiye)
"The fundamental question is no longer whether we need to invest in climate action. The real question is how we scale up, speed up, and improve the quality of the finance we need to translate climate goals into investments, and investments into real-world results."
Ahonsi stated that climate change is not just an environmental issue but also a systemic, economic, and financial risk, noting that the transition to a low-carbon economy offers a significant investment opportunity.
Samed Ağırbaş (President of Zero Waste Foundation and COP31 Climate Champion)
"The climate crisis is no longer a problem of the future; it has become one of the economic issues of today. Finance is not an element added to climate policy. Finance is the power that will put policy into practice."
Pointing out the importance of First Lady Emine Erdoğan's leadership in the global spread of the Zero Waste Movement, Ağırbaş said, "Change only becomes permanent when we bring all segments of society together around the same goal. We need to bring the same understanding to climate finance. We must bring public resources, private capital, international financial institutions, and new financing models together within a single system."
Six Working Areas for Türkiye’s Climate Finance Ecosystem
In the continuation of the program, topics related to developing Türkiye's capacity in the field of climate finance, bringing public resources and private capital together more effectively, and developing investable climate projects were comprehensively evaluated.
In the policy dialogue, held in the format of a one-day high-level roundtable meeting, six thematic working groups were formed to strengthen Türkiye's climate finance ecosystem.
The working groups discussed Financial Regulation and Taxonomy, Green Finance Instruments, Bankable Project Pipelines, Blended Finance and Risk-Sharing Instruments, Mobilizing Private Capital, and Sustainability Reporting, Assurance, and Reliable Climate Data. During the studies, the barriers to accessing climate finance in Türkiye, investment opportunities, and solution proposals for the more effective use of financing instruments were evaluated.
The Dialogue in Istanbul Will Provide Policy Input for the COP31 Process
The evaluations and proposals put forward within the scope of the "Towards COP31: Climate Finance Policy Dialogue" aim to contribute to Türkiye's policies and practices in the field of climate finance.
The policy proposals developed within the scope of the dialogue are planned to be shared with the COP31 Presidency, the Office of the COP31 High-Level Climate Champion, international financial institutions, and multilateral development banks. The program also aims to contribute to the efforts carried out in the fields of green growth, climate resilience, and sustainable finance in line with Türkiye's 12th Development Plan (2024-2028) and the National Green Finance Strategy and Action Plan (2026-2030).
The policy dialogue held in Istanbul towards COP31 established an important ground for joint work regarding Türkiye's sustainable and climate-resilient future in terms of bringing climate goals together with financing, developing investable projects, and strengthening cooperation between the public sector, private sector, and the international financial world.
