COP31 President-Designate Murat Kurum has called on world leaders to dramatically step up climate finance, arguing that investment in climate action should be treated as a strategic security priority on a par with long-term defence spending.

Speaking on the first day of the Istanbul Climate Finance Summit, Kurum warned that the global climate finance “chasm” must be closed urgently, as governments and financial institutions seek to turn climate commitments into concrete action ahead of COP31 in Antalya.

“The world is redefining what security means,” Kurum said, pointing to the major increase in defence-related investment being undertaken by NATO countries.

“NATO countries have embarked on a major transformation that will see defence-related investment rise to as much as 5 per cent of GDP. We expect to see ambition on a similar scale when it comes to climate security.”

Istanbul Climate Finance Summit

Kurum argued that climate investment should be viewed through the same strategic lens as defence spending.

“After all, defence spending is considered an investment made today to protect against the threats of tomorrow. Climate investment must be viewed through precisely the same strategic lens,” he said.

He added a stark question: “If we no longer have a safe world to live in, what purpose will all our spending to defend our countries serve?”

Istanbul Climate Finance Summit

A call for stronger political action

Kurum called on governments to demonstrate greater political determination and commit additional resources to the global transition to clean energy.

“Today, we issue a clear call to leaders around the world: the time has come to show stronger, bolder and more concrete political will on climate action,” he said.

He urged countries to increase investment in clean energy, electrification, resilient cities and green industry, while working together to accelerate the transformation of the global economy.

The appeal came as the Istanbul summit brought together private banks, international financial institutions, multilateral development banks, climate funds and other major financial actors.

The aim is to identify ways of mobilising significantly more public and private capital for climate action and to strengthen cooperation between governments and the financial sector.

Finance at the centre of COP31

Climate finance is emerging as one of the defining issues for COP31, which Türkiye will host in Antalya from 9 to 20 November 2026.

The COP31 Presidency has placed implementation at the centre of its agenda, seeking to move the international climate process beyond commitments and towards measurable results.

Kurum said finance would be indispensable to that effort.

“COP needs to become a place where we can seize the opportunities of climate action and produce concrete outcomes that address the real challenges people face,” he said.

“Finance is essential to this effort. Without finance, there is no implementation.”

He described the Istanbul Climate Finance Summit as a dedicated space where financial actors could examine how to support the COP31 Presidency’s priorities, ranging from electrification and waste management to resilient cities and oceans.

The summit, he said, should help determine how the financial sector can “catalyze and leverage finance at a far greater scale.”

BRIDGE initiative moves towards implementation

The Istanbul meeting also saw progress on the Climate Implementation Bridge (BRIDGE), a flagship initiative of the COP31 Presidency.

The United Nations Development Programme (UNDP) was announced as BRIDGE’s delivery partner, marking an important step towards putting the initiative into operation.

Discussions at the summit have also focused on resilient cities and on scaling up climate finance to support the Presidency’s flagship “35-by-35” electrification target.

The broader objective is to build stronger links between climate policy and the institutions capable of financing its implementation.

From climate pledges to investment

For Türkiye, the emphasis on finance is central to its effort to position COP31 as an “implementation COP” — one focused not only on negotiating new commitments, but on delivering tangible outcomes.

The approach comes amid growing international pressure to close the gap between the scale of climate investment required and the resources currently available.

The Istanbul summit is therefore being used as a bridge between the financial sector and the political negotiations that will culminate in Antalya.

Kurum’s message is that climate action can no longer be treated solely as an environmental issue.

It is an investment in economic resilience, national security and the stability of the world in which future generations will live.

With COP31 less than three months away, the challenge for governments and financial institutions will be to turn that message into concrete commitments — and, ultimately, into capital flowing towards the projects needed to deliver the global climate transition.

ISTANBUL  05 -09 – 2026

Explore our Digital Edition archives available in more than 150 countries (2024–2025–2026)

Nine O’Clock Daily (Romania) Online Archive | Back Issues 2024 – 2025 – 2026

Nine O’Clock Weekly (Romania) Online Archive | Back Issues 2024 – 2025 -2026

Nine O’Clock Yearbook (Romania) Online Archive | Back Issues 2024 – 2025

The diplomatic daily newspaper Nine O’Clock does not assume responsibility for the information received and published on the public website. The responsibility for the content lies solely with the issuer of the press release.

The diplomatic daily newspaper Nine O’Clock cannot be held accountable for false information transmitted by the recipients of the press releases/announcements.

The diplomatic daily newspaper Nine O’Clock reserves the right not to publish press releases that contain inappropriate expressions or accusations and violations of the rights of other individuals, guaranteed by the Constitution of Romania.

The content of the website www.nineoclock.ro is intended for public information. Copying, reproduction, recompilation, modification, as well as any form of content exploitation from this website are prohibited. The use of the Comments section signifies your agreement to abide by the terms and conditions regarding the publication of comments on www.nineoclock.ro.