COP31 opens in Antalya: energy finance and leaders’ attendance in focus

The United Nations Climate Change Conference COP31 opens in Antalya today, with financing clean energy investment, energy security and limiting the rise in global temperatures on the agenda. The conference, which runs from 9–20 November, will also be attended by President Tufan Erhürman and Greek Cypriot leader Nikos Hristodulidis as part of the World Leaders’ Summit.

Against a backdrop of energy crises, economic pressures and geopolitical disputes, discussions will focus on how climate commitments can be put into practice. Financing the transition to clean energy, strengthening electricity grids and controlling energy costs are among the conference’s main priorities.

Leaders’ summit on 11–12 November

Erhürman and Hristodulidis will attend the World Leaders’ Summit, taking place on 11–12 November. There has been no official announcement that a private meeting between the leaders will be held during the event, which will also be attended by Turkish President Recep Tayyip Erdoğan.

In a statement on 14 October, Erhürman said he had received an invitation from Erdoğan on 14 July and would travel to Antalya. The authorities of the Republic of Cyprus said Hristodulidis’s attendance had been secured as a result of diplomatic initiatives conducted with the support of the European Union.

2035 target for electrification

One initiative expected to be discussed at the conference is the “35-by-35” target, which aims to increase electricity’s share of global final energy consumption from around 23% to 35% by 2035. Based on expanding the use of electricity in transport, industry and building heating, the initiative is not yet a binding decision adopted at COP31.

Energy expert Dr Charles Ellinas believes the conference’s success will depend not just on new targets, but on turning existing commitments into economically viable measures. According to Ellinas, growth in the energy transition, the competitiveness of industry and maintaining an uninterrupted supply are also important.

Issues intersecting with Cyprus’s energy agenda

The Republic of Cyprus’s aim to connect to the European electricity grid via the Great Sea Interconnector, along with the development of natural gas resources, is part of the island’s energy agenda. In the north, dependence on fossil fuels and electricity costs are prominent concerns.

Murat Kurum is presiding over the conference hosted by Türkiye, while Chris Bowen is chairing the negotiations. The decisions reached on financing and the energy transition will become clear at the end of the conference.