The COP31 Business Forum New York Dialogue, co-hosted by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and Bloomberg, convened over 300 senior executives from the international business community on September 22 at Bloomberg’s headquarters. The event featured opening remarks by TOBB President and COP31 Business Forum Chair M. Rifat Hisarcıklıoğlu, and Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies and the UN Secretary-General’s Special Envoy on Climate.
Guest of honor COP31 President Murat Kurum, who is also Türkiye's Minister of Environment, Urbanization, and Climate Change, presented the COP31 Action Agenda to the global business community for the first time. The agenda aims to reduce global emissions by 8.5-10 gigatons of CO2 by 2035, with a target for electricity's share of energy consumption to reach 35% by 2035. Hisarcıklıoğlu stressed that "Governments sign agreements; the business community puts them into action," highlighting the private sector’s responsibility in implementing climate initiatives.
A panel titled "The Private Sector’s Response to the COP31 Action Agenda" was moderated by Francine Lacqua of Bloomberg TV. Speakers included Ali Y. Koç, Deputy Chairman of the Board of Directors at Koç Holding; Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA); Makhtar Diop, Managing Director of the International Finance Corporation (IFC); and John W.H. Denton, Secretary General of the International Chamber of Commerce (ICC). The discussions focused on how businesses would translate the Action Agenda into concrete projects.
Following the main event, the COP31 Business Forum’s New York program continued with thematic meetings from September 22-25. The Advisory Board, comprising global business leaders, held its first meeting on September 23 to evaluate proposals for the COP31 Business and Investment Summit in Antalya. Workgroups were established for various areas including Electrification and Energy Transition, Decarbonization in Industry, Climate-Resilient Cities, Food Security and Agriculture, Climate Finance and Investments, Climate Technologies and Artificial Intelligence, and SMEs and Emerging Economies, with specific co-chairs from prominent companies and organizations.
As the COP31 Private Sector Ambassador, TOBB will officially submit best practices and actionable recommendations from the global business community to the COP31 United Nations Climate Change Conference. The roadmap, which will be finalized in New York, will be presented to the COP31 Presidency in Antalya, where the summit will run from November 9 to 20, with Australia leading negotiations.
