Ali Koç discusses energy transformation at COP31 panel

During a panel titled “The Role of Business and Policies in the Global Climate Agenda” at the COP31 conference in Türkiye, Ali Koç, Vice Chairman of Koç Holding, stated that energy transformation is no longer just about fighting climate change. He defined the new global equation as a combination of energy transformation, energy independence, and economic competitiveness.

Koç noted that while the US, Europe, and China are approaching the transition differently, a new economic order is being shaped that will affect the entire world. He emphasized that energy has shifted from being a mere production cost to a fundamental element of global competition. He observed that countries are increasingly focusing on strengthening their own industrial capacities to enhance economic sovereignty and resilience.

In a separate discussion during the same COP31 event, representatives from the Union of Chambers of Turkish Engineers and Architects (KTMMOB) emphasized the need for regional cooperation. Panelists suggested that Cyprus should be connected to a larger electrical grid, potentially through a connection with Türkiye, to ensure stability and increase the use of renewable resources. Experts argued that cooperation regarding electricity, natural gas, data, and water infrastructure in the Eastern Mediterranean could foster economic sustainability and climate resilience.