Istanbul: Launch of the Istanbul Climate Finance Summit

Istanbul, September 4 (KUNA) – The Istanbul Climate Finance Summit kicked off today in Istanbul, with 200 delegates from 12 countries participating. The event is among the preparatory meetings for the upcoming United Nations Climate Change Conference (COP31), scheduled to be held in Turkey next November.

Turkish Minister of Energy and Natural Resources Alparslan Bayraktar, in his opening address at the summit, which concludes its proceedings today, emphasized that “access to affordable, long-term climate finance for developing economies, particularly Turkey, is of paramount importance.” He added that Turkey’s energy transition is driven by three interconnected objectives: ensuring energy supply security, reducing reliance on imported energy, and fulfilling climate commitments.

Bayraktar noted that recent global developments and rising oil and gas prices underscore that energy security remains critical amid the ongoing energy transition. He affirmed that renewable energy will play a central role in this transition, highlighting Turkey’s significant potential in solar, wind, hydroelectric, and geothermal energy.

He explained that his country is working to rapidly increase its installed renewable energy capacity and to build an electrical infrastructure capable of integrating larger shares of variable renewable generation. Bayraktar stressed that the energy transition is not merely an environmental issue, but is also closely linked to energy security, economic development, and industrial competitiveness. (End)