COP31 preparations focus on transitioning climate commitments to action

As preparations continue for COP31, scheduled to take place in Antalya, Turkey, from November 9-20, 2026, BBVA and Garanti BBVA are participating as Global Banking Partners. The summit is expected to focus on critical issues including sustainable finance, energy transition, clean technologies, industrial transformation, circular economy, resilient cities, and biodiversity.

A new analysis by BBVA Research highlights a significant gap between current global climate goals and existing policies. The report indicates that even if current policies are fully implemented, global warming is projected to reach approximately 2.3-2.5 degrees Celsius, which remains well above the 1.5-degree target set by the Paris Agreement.

Julián Cubero, Chief Climate Economist at BBVA Research, emphasized that COP31 must mark a transition from making commitments to implementing them. He noted that the priority should be supporting existing goals through concrete steps, adequate financing, clearly defined responsible actors, and mechanisms to measure results.