Crafting a Climate Story for Turkish Businesses Towards COP31

As COP31 approaches, the key question for Turkish businesses is no longer whether to engage, but how to lead—this piece outlines how companies can turn ambition into a compelling, collective climate story on the global stage.

Why COP31 Matters 

Businesses have historically participated in climate negotiations as observer organizations within the UNFCCC system, represented through the Business and Industry constituency (BINGO) and coordinated by the International Chamber of Commerce. Over the past decade, this role has evolved significantly. Companies and business coalitions have become more proactive as they increasingly realized the benefits of engaging with policymakers, contributing to climate policy discussions and shaping implementation pathways. Similarly, the UN and the Governments have realised the necessity for collaborating with the Business amid the regular criticism for lack of implementation. In this regard, businesses have been articulating their own narrative on engagement with the international climate agenda. Those able to clearly communicate their ambitions, demonstrate partnerships and actively participate in the Conference of the Parties (COP) and relevant international meetings often gain a strategic advantage in positioning their sector or business as a constructive partner in global climate action.

Photo Credit: 13.11.2025 - COP30 Belém Amazônia - Day 04

While formal negotiations remain government led, significant engagement takes place for businesses in action platforms, networking in BINGO meetings, sector initiatives, partnerships and investment discussions. Increasing awareness of and participation in these opportunities will be important for companies to enhance visibility, credibility and influence. Turkish companies still have room to strengthen participation and active engagement in these international fora, to further demonstrate that they are essential stakeholders and partners in delivering climate objectives. 

This evolving narrative is particularly relevant for Turkish businesses as the world prepares for COP31. The question is not merely whether businesses should participate but how they can contribute meaningfully to climate ambition and implementation. For Turkish businesses, COP31 presents both an opportunity and a responsibility, challenging them to translate individual goals into a coherent national story and a stronger collective voice on the international stage.  

In the months leading up to COP31, there is a critical window to highlight innovation and success stories, collaboration and commitment to climate mitigation and adaptation, ensuring that Türkiye is recognized as a forward-looking partner in global climate efforts. In a nutshell, the story of Türkiye’s businesses is still being written at a time when this year’s COP takes place in Türkiye, providing them with a unique opportunity to advocate for responsible climate actions. 

The Emerging Business Role and Climate Commitments in Türkiye

Since Türkiye ratified the Paris Agreement in 2021 and announced its 2053 net-zero target, the private sector has increasingly aimed to position itself within the global climate dialogue. Companies across key sectors are exploring pathways to decarbonization, electrification, investing in clean technologies and aligning strategies with emerging global standards for climate reporting and transition planning.

The World Business Council for Sustainable Development is an important player in the international climate space. The Turkish affiliate Sürdürülebilir Kalkınma Derneği (SKD) conducted a survey on Pre-COP31 preparations. The survey was conducted at a timely moment, covering 189 of its members, which together account for approximately 25% of Turkey’s GDP. The results show that 69% of companies address climate issues at the board or committee level; among sustainability priorities are energy and climate transition (85%), circularity (45%), water, nature and biodiversity (43%). Key barriers include financing (47%), regulatory uncertainty (28%), data infrastructure (40%) and data gaps (12%). While 72% of companies have emissions reduction targets, only 33% have allocated sustainability budgets for 2026. On the positive side there is high level of willingness within the companies to transform and act positively. Yet, there seems to be room for improvement between ambition and investment as well as carrying capacity and accountability in meeting goals.  Turkish businesses recognize the importance in transitioning to a low carbon economy, yet they face significant challenges to make this shift happen. In this context, a stronger leadership role in international climate platforms could help accelerate this transformative shift towards appropriate knowledge and capacity leading to needed climate actions.

Türkiye sits at an important crossroads in the global climate transition as a rapidly industrializing G20 economy and an OECD member country. Energy intensive industries form the backbone of Türkiye’s economy. The country’s total greenhouse gas emissions reached nearly 600 million tons of CO₂ equivalent in 2023. Overall, this represents about 1% of global CO₂ emissions, placing Türkiye among the world’s top twenty emitters.  

Many of its industries are well integrated into global supply chains. Textiles and apparel sector is a good example with its significant position in trade and generates over $20 billion in annual exports (Turkish Exporters Assembly). The sector engages in international commitments and collaborative networks on the path towards decarbonization transition. 

A concrete example is the 2021 Global Investor Statement to governments on climate change.  A coalition of 733 investors managing $52 trillion in assets called governments ahead of COP26 to limit global temperature rise to 1.5 Celsius (The Investor Agenda: Accelerating Action for a Net Zero Emissions Economy, 2021). The statement urged stronger climate commitments, mandatory climate risk disclosure, the phase-out of thermal coal and the elimination of fossil fuel subsidies to speed up low-carbon transition. Out of the 733 signatories six are Turkish companies. Among the six Turkish signatories four of them are textile companies. Notably, textile companies formed the majority of Turkish signatories perhaps signaling the sector’s proactive stance on climate action. This is not surprising given that international climate developments are increasingly linked to market access for exporters. That said, there may be greater positive returns in increasing international engagement and committing to more ambitious goals.

Shaping a Leadership Narrative

The private sector in Türkiye has been increasingly integrating into global markets as illustrated through major corporate rankings. Koç Holding is included in the Fortune Global 500 which ranks the world’s largest companies by revenue. In the Forbes Global 2000, Turkish companies including Koç Holding, Türkiye İş Bankası, Turkish Airlines, Akbank, VakıfBank, Sabancı Holding, Ford Otosan, Halkbank, Anadolu Group and BİM are listed.  Sector-specific rankings also highlight Turkey’s manufacturing strength. Vestel is frequently listed among Europe’s largest television manufacturers, Şişecam ranks among leading global glass producers and Erdemir is one of the largest steel producers in Europe. This growing international presence creates a responsibility and an opportunity for greater leadership in the global climate agenda. Turkish companies are well positioned to contribute to climate solutions as they become more integrated into global value chains and sustainability standards.

An open question is whether Turkish companies are currently using this international presence to advocate for, shape and lead on global climate action. Let’s explore a sample of international initiatives and alliances as an attempt to answer this question.

The Climate Group

There are numerous global climate initiatives led by the private sector aiming to increase climate ambition. Initiatives led by organizations such as the Climate Group are a good example on how they mobilize companies around specific decarbonization goals. RE100 encourages a transition to 100% renewable electricity, EP100 focuses on improving energy efficiency and EV100 promotes the adoption of electric vehicles and supporting infrastructure. The Climate Group also supports industry-specific initiatives like ConcreteZero and SteelZero which aim to reduce emissions in heavy industries. Participation in such initiatives offers a chance to showcase domestic climate commitments while connecting to global networks and standards. Currently, Turkish representation in these initiatives is limited with only one company in RE100 and  one company in EP100 and no Turkish companies reported in EV100, SteelZero or ConcreteZero.

The Race to Zero & We Mean Business Alliance

The We Mean Business Alliance is another example of an important global effort that mobilizes companies to take urgent climate action and align with the Paris Agreement. Closely linked to the Race to Zero which help organizations commit to net-zero targets, the Alliance serves as a key platform for private-sector engagement by bringing together initiatives such as the SME Climate Hub, Science Based Targets initiative, RE100, and EP100. Within this ecosystem, the SME Climate Hub supports small and medium-sized enterprises through commitments to halve emissions by 2030 and reach net-zero by 2050. The Science Based Targets initiative strengthens these efforts by ensuring that corporate targets are aligned with climate science and the 1.5°C pathway. These initiatives translate the high-level ambition of Race to Zero into practical action across the private sector. Around 50 Turkish companies and financial institutions have set or committed to science-based targets, while 19 Turkish SMEs have joined the SME Climate Hub with net-zero commitments. This is a positive signal of growing integration of the Turkish private sector into global climate action frameworks. Building on this momentum, it would be valuable to see well-known Turkish SMEs actively participating in this initiative, alongside greater visibility through featured case studies and inspirational stories. 

The Race to Zero also include initiatives such as Business Ambition for 1.5°C, Cities Race to Zero, Net-Zero Asset Managers, Paris Aligned Investment Initiative, the Under2 Coalition, Fashion Industry Charter for Climate Action and Health Care Climate Challenge. These initiatives and coalitions collectively mobilize businesses, cities, investors and institutions toward net-zero by 2050. Lets take a look at whether Turkish companies have any leadership roles or active memberships in these initiatives and coalitions.  

Business Ambition for 1.5 °C

More than 800 companies from different sectors worldwide have joined the Business Ambition for 1.5 °C campaign since 2019. They represent over US $13 trillion in market value. These companies commit to science-based emissions reduction targets that are independently validated by the Science Based Targets initiative (SBTi). This ensures their goals align with the latest climate science and the Paris Agreement’s 1.5 °C limit. Around 40–50 companies in Türkiye have made similar commitments through SBTi, though exact numbers for the Business Ambition campaign may vary. It is worth asking whether these commitments are well known to the Turkish public or if they are effectively represented in international forums.

The Net Zero Asset Managers Initiative

The Net Zero Asset Managers initiative (NZAM) is a global coalition of asset management firms that commit to supporting investment strategies aligned with achieving net-zero greenhouse gas emissions by 2050 or sooner. Signatories set interim targets, integrate climate considerations into their investment processes and publicly report on their progress. NZAM was relaunched this year, 25 February 2026 in London, with more than 250 asset managers recommitting under a revised framework. Collectively, these firms manage over US $60 trillion in assets which is the largest coordinated investor efforts on climate change globally to date. (Reuters, “Investor Climate Group relaunches with looser rules, fewer US members,” 25 February 2026, https://www.reuters.com/sustainability/cop/investor-climate-group-relaunches-with-looser-rules-fewer-us-members-2026-02-25/).

Currently no Turkish asset management firms are officially listed as NZAM signatories. This represents a significant opportunity for Turkish businesses and investors to participate in an international net-zero investment forum, increase their visibility, and demonstrate commitment to climate-aligned finance.

The Health Care Climate Challenge

Over 500 health care institutions representing more than 32,000 hospitals and health centers across 55 countries are participating in the Health Care Climate Challenge. Although the scale of Turkey’s healthcare system is significant, there are currently no Turkish hospitals involved in this initiative. Turkey has over 1,500 hospitals with 40% operated by the private sector. Increasing awareness of the Health Care Climate Challenge and more importantly of the impacts of climate change to the health sector is vital to mobilize climate action. 

Fashion Industry Charter for Climate Action

The Fashion Industry Charter for Climate Action is a UN-backed initiative launched at COP24 to align the fashion sector with the Paris Agreement and to cut greenhouse gas emissions by 50% by 2030 and reach net zero by 2050. It includes over 130 companies and around 40 supporting organizations. Overall, the Charter stands out as a leading global platform for fashion decarbonization, yet Türkiye remains significantly underrepresented despite being a major textile exporter, once again highlighting a clear.

NYC and London Climate Weeks

Climate Week NYC and London Climate Action Week are high profile events where civil society and corporate leadership work together to shape international climate action. Turkish corporations have national climate programs but no formal visibility as speakers or partners at the main NYC events. Similarly at London Climate Week, there is no clear record of Turkish companies as featured participants or in any leadership role. Turkish tech and innovation firms have actually attended parallel innovation and tech showcases during events such as the London Tech Week. It seems that there is still opportunity for the Turkish private sector to be more proactive. Turkish companies such as in energy, steel, textiles and finance could take visible roles in dialogues, sector-specific panels and innovation hubs to highlight their ongoing sustainability initiatives and net-zero commitments.  Greater visibility would not only signal Türkiye’s private sector alignment with global climate ambitions but also strengthen networks, attract investment and elevate the country’s voice in international policy dialogues and collaborative decarbonization initiatives.

Building the Climate Story for Turkish Businesses

As climate diplomacy shifts toward implementation, COP31 offers an opportunity for Turkish businesses to position themselves as solution providers in a low-carbon global economy. Türkiye’s potential leadership narrative can build on its position as a bridge between developed and emerging economies. In this regard, Turkish companies can strengthen their role in global climate action by articulating a coherent narrative. 

Preparation for COP31 begins well before the conference. Companies that benefit most are those arriving with a clear narrative of their transition journey. The coming months are critical for shaping this story and defining Türkiye’s role on the international stage. To that end, it is critical to urgently prepare an advocacy strategy and a roadmap towards COP31, looking for opportunities to communicating about their ambitions and actions, telling their success stories, aiming at demonstrating that the Turkish industry, textile and steel among others, are committed to delivering on climate and resource efficiency objectives, on their own and in support to national and global policies and goals.