Environment and sustainability
Business calls for clear policy signals on energy, adaptation and finance ahead of COP31
Speaking on behalf of the UNFCCC business and industry constituency (BINGO), ICC reaffirmed business's commitment to the Paris Agreement and urged governments to send the clear policy signals needed to unlock private investment. In a statement at Pre-COP31 in Fiji, ICC set out four priorities for COP31 in Antalya: clean electrification, an actionable Mitigation Work Programme, investable adaptation and removing the barriers to climate finance in emerging and developing economies.
Excellencies, Distinguished delegates,
We thank Fiji, Tuvalu and Australia for the warm welcome to the Pacific – a region that shows us why our action matters.
This week’s message has been delivery, and business agrees. We remain committed to the Paris Agreement and to keeping 1.5°C within sight, with clean energy investment now exceeding $2 trillion a year.
But only clear and sustained policy signals – from governments and from the COP process – will ultimately move investment faster and at scale needed.
Antalya must focus on four priorities:
First, the clean transition. From Palau’s batteries to solar in Fijian schools, electrification is reducing dependences and building resilience.
COP31 should put clean electrification and energy efficiency at the heart of the transition and set out a robust policy agenda that creates the conditions for delivery of any global targets.
The challenge is no longer simply to deploy clean generation – but to build energy systems that can meet rising electricity demand – while remaining reliable, affordable and competitive.
Second, mitigation remains central. At COP31, we must turn the MWP into an impactful framework – that enables collaboration across countries, private and financial actors and removes bottlenecks to rapid and deep emissions cuts.
Third, adaptation. Not every seawall offers a commercial return. Public finance continues to lead, while the Belém Indicators should show where business can follow, with local SMEs and chambers at the table.
Finally, finance remains the fuel of any credible transformation. We must move beyond volumes of public finance and tackle the real barriers: access to finance, cost of capital, bankability gaps and macroprudential rules affecting clean and infrastructure investments in EMDEs. This is the focus for an ambitious and actionable Climate Finance Work Programme.
Excellencies, colleagues,
The success of implementation will depend – not on declarations alone – but more than ever on genuine dialogue and radical public-private cooperation.
We are here to work with Türkiye, Australia and all Parties to achieve just that.
Thank you.
