Organized in collaboration with United Nations Türkiye, UN Global Compact Türkiye, and the Zero Waste Foundation, the first meeting of the “COP31 High-Level Climate Champion Private Sector Consultation Series: The Role of the Private Sector in the Climate Action Agenda” was held in Istanbul on 21st May 2026. The meeting focused on the role of the private sector in the low-carbon transition, climate finance, decarbonization and resilience.The series aims to address the challenges faced by the business community in the transition to a low-carbon economy, develop solutions, identify opportunities and contribute to the COP31 process through multi-stakeholder partnerships. “The Role of the Private Sector in Combating Climate Change Is Increasing Every Day” In her remarks, UN Global Compact Türkiye Chairperson Güliz Öztürk underlined that combating climate change is directly linked to risk management, resilience and competitiveness for companies.“Addressing climate change is no longer only an issue for good times. In a world where supply chains are disrupted, energy costs fluctuate and access to finance becomes more difficult, it provides a guiding framework for companies. We now know that the cost of inaction is higher than the cost of transformation. In this context, the role of the private sector in combating climate change is increasing every day: today, the private sector is at the centre of the solution. COP31’s main agenda items — zero waste, food security, green industrialization, clean energy transition and climate adaptation — point to the areas we need to focus on in the coming period. By strengthening commitments in these areas, reporting progress transparently, scaling transformation through innovation and extending it across value chains, companies can increase their global competitiveness,” she said.Climate Finance and Transparency Key to Green Transformation In his opening remarks, Melih Ecertaş, Board Member of Turkish Airlines, emphasized that climate action also requires strong financial awareness and transparency. Ecertaş stated that Turkish Airlines is committed to implementing the highest international standards in integrating climate risks into financial systems, transparently tracking Scope 3 emissions, and ensuring the credibility of transition planning. He added that scaling up innovative financial instruments in Türkiye — including green bonds, blended finance models and sustainability-linked loans — would accelerate not only the green transformation of companies like Turkish Airlines, but also that of the wider Turkish private sector.“Türkiye Has the Potential to Make Significant Contributions to Global Climate Goals” United Nations Resident Coordinator in Türkiye Dr. Babatunde Ahonsi emphasized that, as an upper-middle-income economy with a dynamic and globally connected private sector, Türkiye has the potential not only to advance sustainable and resilient growth domestically but also to make significant contributions to global climate goals.Ahonsi noted that Türkiye’s evolving national policy framework — including the Climate Law process, Nationally Determined Contributions (NDCs), long-term development priorities, green transformation agenda, sustainable finance efforts and alignment with international climate reporting and disclosure standards — creates important momentum for transformative action.“COP31 should not only be a negotiation milestone; it should also be an implementation milestone focused on delivery, partnerships, financing and concrete transformation. The private sector has a critical role to play in making this possible,” he said.Four Priority Areas Identified for COP31 High-Level Climate Champion Samed Ağırbaş stated that four main priority areas had been identified for COP31.“One of them is food waste. At COP31, with the support of more than 100 countries and international institutions, we are launching a new campaign. It will be a 10-year campaign. If we can reduce food waste by 20 per cent, we can end hunger in the world,” he said.Highlighting energy efficiency as another COP31 priority, Ağırbaş added:“Türkiye pays more than 100 billion dollars annually for energy imports. Unfortunately, our country does not possess large reserves of natural gas or oil. As the private sector, civil society and all stakeholders, we believe we will do everything we can. At the same time, while these investments and efforts continue, we must also build public awareness. Our third priority is water efficiency. Unfortunately, Türkiye’s water resources are very limited and we continue to lose them every day. If solutions are needed, we are producing solutions. Together, we must protect this country’s water, air and nature. Our fourth priority is women, children and young people. We must do more for women, youth and children because they are the groups most affected by climate change-related impacts.”Following the opening remarks, roundtable discussions were held with representatives from member companies of UN Global Compact Türkiye, business organizations and United Nations agencies operating in Türkiye. Discussions focused on four main themes: “Mitigation and Decarbonization Roadmaps,” “Climate Adaptation and Resilience,” “Corporate Climate Target Setting and Reporting,” and “Climate Finance and Investments.”The 31st session of the United Nations Framework Convention on Climate Change Conference of the Parties (COP31), which Türkiye will host in Antalya from 9 to 20 November 2026, aims to serve not only as a negotiation platform, but also as a process focused on accelerated implementation, concrete roadmaps and inclusive action by all stakeholders, including the private sector.