COP31 Business Bulletin: What’s happening in Antalya?

What is COP31 and when is it happening?

COP31 is the 31st Conference of the Parties to the UN Framework Convention on Climate Change. It will take place in Antalya, Türkiye, from 9-20th November 2026.

COPs bring governments together to negotiate international climate policy. Governments use the process to set and strengthen national climate commitments, while businesses, investors and other organisations increasingly use COPs to announce initiatives, partnerships and investment.

Who is hosting COP31?

This year’s conference has a joint presidency, meaning that whilst Türkiye is hosting the conference, Australia is leading the negotiations. The main figureheads from each country are:

• COP31 President: Murat Kurum, the Turkish Minister of Environment, Urbanisation and Climate Change.

• COP31 President of Negotiations: Chris Bowen, Australia's Minister for Climate Change and Energy.

COP31 has a particular focus on implementation: rather than making lots of new announcements, it will focus on turning existing climate commitments into practical action. 

What are the aims of COP31?

COP31 is being positioned as a COP of implementation: turning existing climate commitments into practical, tangible action. Both Türkiye and Australia have emphasised accelerating delivery of the Paris Agreement rather than simply setting new targets.

The COP31 Action Agenda focuses on areas including clean energy, electrification, green industry, climate finance, resilient cities, food systems, oceans and waste.

For businesses, three priorities stand out:

• Accelerating the clean energy transition through electrification, renewable energy, grids and energy storage. 

• Mobilising climate finance and investment, helping direct capital towards the transition: investing in clean technologies and removing incentives for fossil fuels.

• Building resilience, recognising that countries, businesses and communities must prepare for increasing climate impacts.

The broader aim is to turn climate commitments into investment, implementation and measurable results. For businesses, COP31 will therefore provide an important signal of where policy, capital, technology and markets are heading.

Why does COP31 matter for businesses?

The decisions and commitments made at COP31 can influence the cost of doing business and the opportunities available to invest and grow. As just a few examples:

• Reducing the cost of energy. If COP31 successfully accelerates the shift away from fossil fuels (by far the most effective lever to addressing climate change) then it will stimulate yet further investment into renewables, grids and battery storage and will help make your business’s energy cheaper, cleaner, more secure and less exposed to volatile fossil fuel prices. 

• Increasing the cost of carbon-intensive operations. Announcements at COP and stronger national climate policies following it could further increase the costs associated with producing emissions, through carbon pricing, regulation, energy standards and other transition measures. 

• Making accessing capital easier for sustainable businesses. As governments and financial institutions direct more capital towards the transition, businesses without credible climate plans could face increasing pressure from lenders, investors and customers to decarbonise – making sustainability the norm, rather than the exception.

• Opening up new demand, markets and funding streams. COP31 is explicitly focused on mobilising climate finance and turning climate targets into investment opportunities. This could create new opportunities for businesses investing in energy efficiency, clean technology, resilience and low-carbon infrastructure. Businesses providing low-carbon products, services and technologies could benefit from growing demand and new markets.

• Bringing climate change to the fore for consumers. Every year, COP is the biggest climate event of the year, attracting world leaders and generating front-page news. Awareness of climate change reaches a high point, and with fresh memories of this year’s record-breaking summer, businesses should expect ever-more pressure from clients and customers to become sustainable.

Our research shows that businesses are already feeling the costs of climate change – with 84% of UK businesses able to identify increased costs caused by climate change and nature loss in the past 2 years.

So what happens at COP31 also matters to businesses because it will dictate the global response to climate change – which we know is already costing businesses money hand over fist.

The faster we can stop climate change, the less financially exposed every business will be.

Will Ecologi be attending COP31?

Yes. We’ll be sending Sam Jackson, our Director of Climate Science and Impact, to Antalya to cover COP31 from 8th - 14th November 2026. If you’d like to meet Sam, you can reach out to him directly via LinkedIn.