Trade minister urges cooperation on critical minerals, green finance

Detailed summary

Trade Minister Ömer Bolat called for stronger cooperation on critical mineral supplies and affordable financing to support the green transition at the COP31 climate summit in…

Trade Minister Ömer Bolat called for stronger cooperation on critical mineral supplies and affordable financing to support the green transition at the COP31 climate summit in Antalya on Nov. 13.

Speaking at a panel organized by the Trade Ministry and the World Trade Organization, Bolat said growing demand for materials used in renewable energy technologies, batteries and electric vehicles was exposing supply chain vulnerabilities.

“We must therefore establish diversified and reliable supply chains, facilitate trade in environmental goods and clean technologies,” he said.

Bolat said regulatory cooperation and access to technology would be insufficient without investment, particularly for developing economies and small businesses facing higher capital costs.

He urged international financial institutions, governments and businesses to provide affordable financing, support technology transfers and strengthen production capacity.

Common standards and cross-border recognition of digital emissions data, certificates and trade documents could also reduce costs, he added.

At a separate ministerial meeting of the Organization of Turkic States (OTS), Bolat called for closer cooperation on emissions monitoring, product carbon footprints, green certification and digital traceability.

The meeting was the first held by ministers under the organization’s Climate, Innovation, Green Economy and Trade Partnership.

Bolat said the Antalya Ministerial Declaration signed that day aimed to turn cooperation into practical action.

Opening of the article, excerpted from Hürriyet Daily News. To read the rest, open the article on the publisher's site.