Turkey to present platform to attract over $6 billion at COP31 — The Rio Times

Turkey plans to present an industrial decarbonization investment platform at the COP31 climate summit in Antalya. Its goal is to attract more than $6 billion by 2030 to reduce annual emissions by 20 million tonnes of CO2 equivalent, The Rio Times reports.

Funding for heavy industry

The Turkish platform will focus on four industries: steel, aluminum, cement and fertilizer production. These sectors require significant amounts of energy for production processes, and reducing their emissions requires modernizing enterprises.

Initial funding of $250 million will be provided by the Clean Technology Fund, a multilateral climate fund within the Climate Investment Funds. Named participants also include Turkey’s Ministry of Industry and Technology, the European Bank for Reconstruction and Development, the International Bank for Reconstruction and Development, and the International Finance Corporation.

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The amount of more than $6 billion is a target for mobilizing funds, rather than an already established fund. Additional development banks and commercial lenders are expected to sign a joint declaration during the summit.

Summit in Antalya

COP31 will take place in Antalya, on Turkey’s Mediterranean coast, from November 9 to 20, 2026. A meeting of heads of state and government is scheduled for November 11–12.

Turkey’s Environment Minister Murat Kurum is the president of COP31, while Australian Climate Change and Energy Minister Chris Bowen leads the negotiations track. The summit presidency has also launched the Antalya Compact for Energy Efficient Buildings, an initiative that countries can join to support energy-efficient buildings.