On 8 October 2026, Türkiye and Australia, joint organisers of the COP31 climate summit, said they would bring a “presidency-led decision” to the talks in Antalya, Turkish Minute reported from the Pacific pre-COP meeting in Nadi, Fiji. Chris Bowen, Australia’s climate and energy minister and COP31 President of Negotiations, said this “gives us the best chance of a strong and ambitious outcome at COP31”. The conference runs from 9 to 20 November 2026 at the Antalya Expo Center.
What changes
A presidency-led decision is a text prepared in advance by the hosts, meant to cut long arguments over technical points. Its focus includes electrification: replacing fossil-fuel technology such as diesel cars and gas heating with electric options. Australia is pushing for a global target of 35% electrification by 2035, which Bowen said would sit alongside the COP28 goals of tripling renewable capacity and doubling energy efficiency by 2030, PINA reported. He also pointed out that negotiations run by consensus, so roughly 190 countries must agree. Murat Kurum, Türkiye’s environment minister, is COP31 President, and the leaders’ summit takes place on 11 and 12 November, according to Wikipedia’s summary of the conference.
What it means for founders
COP decisions do not bind companies directly, but they shape national policy, public spending and lending criteria in the years that follow. A global electrification target would favour firms in heat pumps, electric vehicles and charging, grid equipment, building retrofits and software that manages energy use. Businesses with vehicle fleets or heavy gas use should expect more pressure from governments and large customers to switch. Nothing is agreed yet. Greenpeace Australia Pacific called the Fiji outcomes “a drop in the ocean given the scale of need”, and the final text may look quite different.
What to do now
- Watch the COP31 outcome on 20 November for any electrification target and timeline.
- List the fossil-fuel equipment your business runs, such as vehicles and heating, and when each is due for replacement.
- If you sell clean-energy products or services, prepare material for buyers who will ask how you fit national targets.
Sources: Turkish Minute, Turkey, Australia seek ambitious climate action with draft text for COP31; PINA, Pacific climate concerns must shape COP31 agenda: Bowen; Wikipedia, 2026 United Nations Climate Change Conference