By
Director of Climate Science & Impact
5 min read
COP31 is underway in Antalya and here at Ecologi we want to help your business cut through the noise to understand how the announcements and developments from COP impact your business directly.
We’ve broken this page down into four categories, which we’ll update throughout the two weeks of COP31, to help you unpack the direct impacts on your business from the conference.
Energy
Energy policy agreed at COP31 sets the direction for what power costs, how it is generated and how fast grids change, especially given the key agenda pledge of “35-by-35” – a target to increase electricity’s share of total final energy consumption to 35% by 2035. Pledges on renewables, fossil fuel phase-out (or phase-down) and grid investment all feed into energy prices, supply security and the cost of capital for green projects.
In this section, our team will track the energy decisions made at COP31 and what they mean for your business’s bills, procurement choices and long-term energy strategy.
10th Nov
A new study published this morning, ‘a further acceleration of clean energy is needed for global CO2 emissions to peak and decline ’, helps frame the narrative at COP. While global fossil fuel CO2 emissions have grown 0.8% per year on average between 2019 and 2025, the study demonstrates a projected decrease of 0.4% in 2026. The 2026 decrease is driven by 1.9% and 0.3% decreases in emissions from oil and gas, respectively and likely a short-term response to the energy shock triggered by the Iran conflict.
Electric vehicles (EVs) and solar and wind power are also contributors to the decline - without the emissions avoided by EVs and renewable energy, the study estimates that global CO2 emissions would have grown by 1.9% per year on average during 2019–2025, driven by economic growth and changes in the CO2 intensity of the economy.
But they are not working fast enough. Projections to 2028 show that even if deployment accelerates, clean technology would not fully offset demand growth, and emissions would still be higher than in 2025. The authors conclude that if further acceleration can be sustained, a sustained peak and decline in global CO2 emissions could be a few years away.
For businesses, this means understanding where your energy use drives your emissions, and where you can cut cost and risk. With energy price shocks showing how exposed fuel-dependent operations can be, that picture matters for your bills as well as your reporting.
Find out where your energy use drives your emissions, and where you can cut cost and risk. Ecologi helps you measure and manage your Scope 1, 2 and 3 emissions in one place.
9th Nov
COP31 opened in Antalya on 9 November with energy prices and energy security at the centre of the first day. The talks open as a strong El Niño builds and after deadly flooding in Nepal and Tibet. Climate scientists have confirmed that global heating will reach at least 1.8C, beyond the 1.5C goal countries set in Paris.
TAFF - Transition away from Fossil Fuels
At COP28, countries pledged for the first time a transition away from fossil fuels. However, at COP30, fossil fuels were a topic that was largely absent from the final text.
Fossil fuel prices as an economic issue
UN climate chief Simon Stiell told the opening plenary that the global fossil fuel price crisis is “spreading inflation like a cancer” around the planet. The Iran war and the disruption to oil supplies through the Strait of Hormuz pushed petrol prices up around the world by as much as 50%, raising inflation and slowing economic growth.
A 2035 electrification target
At COP31, Türkiye is again asking countries to commit to a 35-by-35 target, however, through electrification.
Ahead of COP31, President-Designate and Minister of Environment Murat Kurum stated that electrifying daily life will protect communities from ‘volatile energy markets’.
The electrification pledge means replacing diesel-powered cars or buses. However, it doesn’t necessarily eradicate the use of pollutants. Experts are warning that this is only as clean as the energy that powers it. Samuel Gueret warns, “Electrification only limits overshoot if the electricity is cleanly generated, which is why this target should be seen as part of a package with the renewables and efficiency targets agreed at COP28.”
Standards, rules and regulations
Announcements, pledges and commitments made by governments, jurisdictions and institutions during COP31 will become reporting requirements, disclosure rules and trade conditions that businesses must comply with in the future.
9th Nov
UN Climate Change chief Simon Stiell announced at the opening plenary, “progress is nowhere near far enough or fair enough”. Stiell is urging countries to move beyond setting targets and supercharge solutions that can make a difference on the ground.
Sustainability disclosure requirements are tightening, so reporting needs to be traceable and audit-ready. Ecologi helps you set science-based targets and report against frameworks such as SECR, CSRD, SBTi, PPN 006 and B Corp.
Carbon markets
Negotiations at the climate COPs shape the rules for international carbon trading, credit integrity and how credits count toward corporate and national targets. That means that developments at COP31 can influence what carbon credits will cost your business, which credits you can trust and how companies are allowed to use them in their climate strategies.
The quality of your carbon portfolio matters more than ever. Ecologi have built our industry-leading portfolio builder to help you design a tailored carbon portfolio in under a minute. It’s free, with no sign-up to see your results, and you can leave your details to speak to a climate expert about a fully tailored portfolio.
Nature
Businesses depend on nature for materials, water, stable environments and healthy soils – and nature loss is a growing financial and operational risk. COP31 decisions on forests, biodiversity, oceans, land use and nature finance set expectations for how companies measure and reduce their negative impact on nature, and how they increase their positive impact.
In this section we’ll cover what is agreed and what it means for your supply chains, your reporting obligations and your investment into nature.
9th Nov
As COP31 kicks off, Berkeley Earth, an independent US research group, has forecast that 2026 will surpass 2024 as the hottest year on record. While there are still two months left in the year, the research group is 95% confident that the result will hold. This follows a warning from the UK defence secretary last month to think about how they would cope with increasing natural disasters, including stockpiling food.
Food, Agriculture and Health
Day 1 of COP31 has highlighted the growing toll of climate change on human health. Alan Dangour of the Wellcome Trust Foundation has amplified the need to put people at the heart of their decisions. “We cannot adapt to an unmitigated future.”
The World Health Organisation (WHO) highlights troubling figures, stating that between 3.3 and 3.6 billion people live in areas highly vulnerable to climate change. The impact of extreme weather and climatic hazards is putting lives at risk and straining health systems worldwide.
Countries like Fiji are working on diversifying their crop varieties to find ways of protecting their seedlings from increasingly powerful cyclones. The food and agricultural sector accounts for approximately one-third of greenhouse gas emissions but is increasingly vulnerable to climate change. Cristian Barrasueta, from the World Rural Forum, places priority on ensuring family farmers have a say in shaping climate policies and can access the funding needed to adapt. Farmers need support now, not in coming years of planning and paperwork.
Nature risk is becoming business risk, and it affects your supply chains, your key sites, your staff and stakeholders, and your reputation. Ecologi connects you to high-quality nature restoration projects in the UK and internationally, from landscape restoration to targeted habitat recovery.
FAQs
What is COP31 and when is it happening?
COP31 is the 31st Conference of the Parties to the UN Framework Convention on Climate Change. It will take place in Antalya, Türkiye, from 9-20th November 2026.
COPs bring governments together to negotiate international climate policy. Governments use the process to set and strengthen national climate commitments, while businesses, investors and other organisations increasingly use COPs to announce initiatives, partnerships and investment.
Who is hosting COP31?
This year’s conference has a joint presidency, meaning that whilst Türkiye is hosting the conference, Australia is leading the negotiations. The main figureheads from each country are:
COP31 President: Murat Kurum, the Turkish Minister of Environment, Urbanisation and Climate Change.
COP31 President of Negotiations: Chris Bowen, Australia's Minister for Climate Change and Energy.
COP31 has a particular focus on implementation: rather than making lots of new announcements, it will focus on turning existing climate commitments into practical action.
What are the aims of COP31?
COP31 is being positioned as a COP of implementation: turning existing climate commitments into practical, tangible action. Both Türkiye and Australia have emphasised accelerating delivery of the Paris Agreement rather than simply setting new targets.
The COP31 Action Agenda focuses on areas including clean energy, electrification, green industry, climate finance, resilient cities, food systems, oceans and waste.
For businesses, three priorities stand out:
Accelerating the clean energy transition through electrification, renewable energy, grids and energy storage.
Mobilising climate finance and investment, helping direct capital towards the transition: investing in clean technologies and removing incentives for fossil fuels.
Building resilience, recognising that countries, businesses and communities must prepare for increasing climate impacts.
The broader aim is to turn climate commitments into investment, implementation and measurable results. For businesses, COP31 will therefore provide an important signal of where policy, capital, technology and markets are heading.
Why does COP31 matter for businesses?
The decisions and commitments made at COP31 can influence the cost of doing business and the opportunities available to invest and grow. As just a few examples:
Reducing the cost of energy. If COP31 successfully accelerates the shift away from fossil fuels (by far the most effective lever to addressing climate change) then it will stimulate yet further investment into renewables, grids and battery storage and will help make your business’s energy cheaper, cleaner, more secure and less exposed to volatile fossil fuel prices.
Increasing the cost of carbon-intensive operations. Announcements at COP and stronger national climate policies following it could further increase the costs associated with producing emissions, through carbon pricing, regulation, energy standards and other transition measures.
Making accessing capital easier for sustainable businesses. As governments and financial institutions direct more capital towards the transition, businesses without credible climate plans could face increasing pressure from lenders, investors and customers to decarbonise – making sustainability the norm, rather than the exception.
Opening up new demand, markets and funding streams. COP31 is explicitly focused on mobilising climate finance and turning climate targets into investment opportunities. This could create new opportunities for businesses investing in energy efficiency, clean technology, resilience and low-carbon infrastructure. Businesses providing low-carbon products, services and technologies could benefit from growing demand and new markets.
Bringing climate change to the fore for consumers. Every year, COP is the biggest climate event of the year, attracting world leaders and generating front-page news. Awareness of climate change reaches a high-point, and with fresh memories of this year’s record-breaking summer, businesses should expect ever-more pressure from clients and customers to become sustainable.
Our research shows that businesses are already feeling the costs of climate change – with 84% of UK businesses able to identify increased costs caused by climate change and nature loss in the past 2 years.
So what happens at COP31 also matters to businesses because it will dictate the global response to climate change – which we know is already costing businesses money hand over fist.
The faster we can stop climate change, the less financially exposed every business will be.
Will Ecologi be attending COP31?
Yes. We’ll be sending Sam Jackson, our Director of Climate Science and Impact, to Antalya to cover COP31. Sam will be there for the first week of COP31 (8th-15th November), taking part in events and roundtables throughout the week and meeting with our clients and partners.
If you’d like to meet Sam in Antalya, please contact us.
Sam Jackson, Ecologi’s Director of Climate Science and Policy, is attending COP31 in Antalya from 8th - 14th November 2026. If you’d like to meet Sam, you can reach out to him directly via LinkedIn here.