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COP31 to focus on climate finance, fossil fuel cuts

SB Desk
8 November 2026 14:35 Updated: 8 November 2026 14:35

World leaders and climate negotiators from nearly 200 countries will gather in Antalya, Türkiye, from November 9 to 20 for the 31st United Nations Climate Change Conference (COP31), amid growing concerns over accelerating global warming and widening gaps in climate action.

The conference is expected to focus on reducing greenhouse gas emissions, mobilising climate finance, accelerating the transition to clean energy and strengthening support for countries most vulnerable to climate change.

The gathering comes as scientists warn that the world is on track to exceed the 1.5-degree Celsius warming threshold set under the 2015 Paris Agreement, increasing the risks of extreme heat, droughts, floods, rising sea levels and forest fires.

The UN Environment Programme’s (UNEP) 2026 Emissions Gap Report estimates that current climate pledges put the world on a trajectory for 2.3-2.5 degrees Celsius of warming, highlighting the need for much faster emissions reductions and stronger implementation of national commitments.

“Despite some progress in recent years, the world is set to cross 1.5°C of global warming,” said Martin Krause, director of UNEP’s Climate Change Division, stressing the need to make the overshoot as small and brief as possible.

Climate finance is expected to be another major point of contention. Developed countries have committed to mobilising at least $300 billion annually for developing nations by 2035, as part of a broader effort to raise climate finance from public and private sources to $1.3 trillion a year.

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However, funding remains far below developing countries’ requirements. A recent UN assessment estimated that developing nations need around $305 billion annually for climate adaptation, while international public adaptation finance reached only $28.2 billion in 2024.

Fossil fuel reduction and methane emissions will also feature prominently in the negotiations. A recent Climate Analytics assessment cited by Reuters suggests that cutting methane and other short-lived climate pollutants could slow global warming by around 12 per cent by 2035.

The conference will also address renewable energy expansion, energy efficiency, sustainable cooling, waste management and climate resilience. Türkiye has proposed voluntary targets, including raising the global electrification rate to 35 per cent and reducing energy intensity in buildings by at least 25 per cent by 2035.

Türkiye’s Environment Minister Murat Kurum will serve as COP31 president, while Australian Climate Change and Energy Minister Chris Bowen will lead the negotiations under an arrangement between the two countries.

The World Leaders’ Climate Action Summit is scheduled for November 11-12.

For developing countries such as Bangladesh, the outcome of COP31 will be particularly important, especially regarding predictable climate finance, adaptation support and funding for losses and damages caused by climate-related disasters.

The central challenge for the conference will be translating existing climate commitments into concrete action as the window to limit global warming continues to narrow.

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