ICC delivers Business and Industry NGOs opening statement at COP31

Excellencies, distinguished delegates,

We thank Türkiye for its leadership – together with Australia – in steering this pivotal COP.

At a time of severe global crises, the scale of the economic shock cannot be overlooked in these rooms.

Business commitment to the Paris Agreement remains unwavering.

But now we need you, Parties to provide the direction and certainty, and deliver a robust implementation package that makes economic sense.

Three priorities matter:

• First, the energy transition. If 1.5°C is to remain within sight, we need a radical course correction. A comprehensive mitigation agenda that turns the Dubai Goals into delivery – and scales all low-emissions solutions – is vital.

Clean electrification – through the “35 by 35” goal – will be one of the central enablers. But delivering it will require a whole-system approach and a laser focus on finance.

The Mitigation Work Programme can become a central vehicle.

• Second, adaptation, must move to the centre. Business, finance and insurance are already affected and acting, but we cannot afford two parallel worlds: the indicators and methodologies must connect with the real economy.

• Third, finance is the engine of any credible transformation. A robust Finance Work Programme can set a new trajectory, moving beyond public finance volumes towards addressing the real bottlenecks for private capital and implementing the NCQG and adaptation finance commitments.  

High-integrity carbon markets – including Article 6 – can unlock far more, but only if the rules work in practice. Harmonised carbon accounting, standards, and open markets for trade are also critical.

Excellencies,

Implementation will not succeed through declarations alone. It will depend on radical public-private cooperation and economics that work.

We are here to work with Türkiye, Australia and all Parties to make that happen.

Thank you.