Multilateralism essential for climate action, says COP31 Presidency

COP31 presidency frames Antalya summit as delivery checkpoint

Türkiye has issued its second letter to parties ahead of COP31, scheduled for Antalya from 9 to 20 November 2026. The message marks a notable shift in emphasis. Rather than focusing on new commitments or headline pledges, the presidency is framing the summit as a test of whether countries can translate existing agreements into measurable progress.

According to the letter, multilateral cooperation is no longer optional. The presidency argues that delivering on climate goals now depends on sustained collaboration across governments, institutions, and other actors. This framing reflects a broader concern within the UN climate process that geopolitical tensions could undermine momentum just as countries move from negotiation to implementation.

The letter arrives as part of a coordinated effort between the current COP30 presidency and the incoming COP31 team. Both presidencies have emphasised the need for continuity and closer alignment between successive summits, positioning COP31 as a bridge between the Paris Agreement’s political framework and practical delivery on the ground.

Joint presidency statement highlights continuity between COP30 and COP31

In a joint communication, the COP30 and COP31 presidencies described multilateralism as central to turning ambition into action. COP30 President André Corrêa do Lago stated that sustained collaboration between presidencies is essential to preserve trust in the multilateral system and ensure that commitments translate into delivery.

This coordinated messaging is significant. It suggests a deliberate effort to avoid the disconnection that has sometimes characterised handovers between previous COP presidencies. Instead, the two teams are presenting a unified narrative that positions COP31 as part of a continuous implementation cycle rather than a standalone event.

The presidency has also outlined a dual approach to climate multilateralism. One track focuses on consensus-based negotiation, which remains necessary for formal agreements and binding commitments. The other track prioritises implementation, aiming to mobilise capable actors more quickly without waiting for universal agreement on every detail.

This dual structure reflects growing recognition that the traditional negotiation model, while essential for legitimacy, can be too slow to match the pace of climate impacts. By creating parallel pathways for action, the presidency appears to be testing whether the COP process can accommodate both diplomatic consensus and faster operational delivery.

Implementation and finance expected to dominate Antalya agenda

Early indications suggest that COP31 will place less weight on new declarations and more on financing mechanisms, capacity building, and institutional coordination. According to preparatory statements from UN Climate Change and the presidency team, the Antalya summit is being designed as a venue for practical arrangements rather than further high-level commitments.

This shift in focus reflects the stage that climate policy has now reached. Most major economies have published net zero targets and updated their Nationally Determined Contributions. The question is no longer whether countries have plans, but whether those plans are being implemented at the required scale and speed.

Finance is expected to feature prominently. For many developing countries, progress on climate action depends on access to affordable capital for renewable energy, adaptation projects, and nature-based solutions. However, the global financial architecture has not yet adapted sufficiently to channel investment at the necessary pace or volume.

Capacity building is another likely priority. Many smaller economies lack the technical expertise, regulatory frameworks, or institutional structures needed to implement climate policies effectively. Consequently, international support for skills development, technology transfer, and institutional strengthening is seen as critical to maintaining momentum across all parties.

Multilateralism under strain as geopolitical risks increase

The presidency’s emphasis on multilateral cooperation comes at a time when the international climate process faces mounting challenges. Trade tensions, energy security concerns, and shifting political priorities in major economies have created uncertainty about the level of ambition countries will maintain over the coming years.

For UK businesses, this context matters. Many firms have made investment decisions based on the assumption that climate policy will continue to tighten globally, creating markets for low-carbon goods and services. If the multilateral process weakens, there is a risk that policy divergence between countries could fragment those markets and complicate cross-border operations.

There is also a commercial dimension to how multilateralism functions in practice. Public procurement rules, trade agreements, and carbon border mechanisms all depend on some level of international coordination. If countries pursue unilateral approaches without alignment, businesses operating across multiple jurisdictions face higher compliance costs and greater regulatory complexity.

For SMEs in particular, fragmentation creates barriers to entry. Larger corporations can afford to navigate different standards and reporting requirements in different markets. Smaller firms often lack the resources to do so, which could limit their ability to compete internationally or access emerging green supply chains.

How the dual-track approach might work in practice

The presidency’s proposed dual-track model raises practical questions about how implementation will be coordinated alongside formal negotiation. The consensus track is familiar and well-established. It involves detailed text-based negotiations, formal voting procedures, and legally binding outcomes. This process is slow but necessary for legitimacy and accountability.

The implementation track is less clearly defined. It appears to involve mobilising coalitions of willing actors who can move faster than the full UN membership. This could include sectoral initiatives, regional partnerships, or alliances between governments and private sector actors. The aim is to accelerate delivery without waiting for universal agreement.

However, there are risks. If implementation moves too far ahead of negotiation, it could create unequal outcomes or undermine trust among parties who feel excluded from decision-making. Conversely, if negotiation continues to slow down implementation, the gap between commitments and delivery will widen further.

For businesses, the dual-track model could create both opportunities and challenges. On one hand, it may open faster pathways for firms that are ready to scale low-carbon solutions. On the other hand, it could lead to a patchwork of standards and requirements that vary depending on which initiatives a country has joined.

What UK SMEs should understand about COP31’s direction

• COP31 is scheduled for Antalya, Türkiye, from 9 to 20 November 2026, with a focus on implementation rather than new pledges.
• The presidency is emphasising multilateral cooperation as essential for translating climate commitments into measurable action.
• A dual-track approach is proposed, combining consensus-based negotiation with faster implementation mechanisms for capable actors.
• Finance, capacity building, and institutional coordination are expected to dominate the agenda rather than high-level declarations.
• Geopolitical tensions are creating uncertainty about the strength of the multilateral climate process over the next few years.
• For UK businesses, fragmentation of international climate policy could complicate cross-border operations and increase compliance costs.
• The shift towards implementation may create opportunities for firms ready to scale low-carbon solutions in coordinated international markets.

Commercial implications for firms operating in green supply chains

The shift towards implementation has direct commercial consequences for UK businesses involved in climate-related activities. Many firms have invested in low-carbon technologies, supply chain decarbonisation, or sustainability reporting on the assumption that global policy will continue to tighten in a coordinated way.

If COP31 succeeds in strengthening multilateral cooperation, it could accelerate the development of international markets for green goods and services. This would benefit exporters, particularly in sectors such as renewable energy, clean transport, and environmental consulting. It would also support firms bidding for international contracts that require demonstrated sustainability credentials.

However, if the multilateral process weakens or becomes fragmented, the commercial landscape could become more difficult to navigate. Different countries may adopt incompatible standards for carbon accounting, supply chain transparency, or product labelling. This would increase the cost of compliance and create barriers to market entry, particularly for smaller firms.

Public procurement is another area where multilateral coordination matters. Many governments are embedding climate criteria into tender processes, following models such as PPN 06/21 in the UK. If international standards for carbon measurement and reporting remain aligned, firms can use the same data and methodologies across multiple markets. If alignment breaks down, the administrative burden increases significantly.

For businesses operating in regulated sectors, the direction of COP31 could also influence domestic policy. UK climate regulations are often shaped by international commitments and benchmarking against other economies. A strong multilateral outcome at COP31 could therefore lead to tighter domestic requirements, while a weak outcome might slow the pace of regulatory change.

Why finance and capacity building matter for UK exporters

The expected focus on finance and capacity building at COP31 has specific relevance for UK firms targeting emerging markets. Many developing economies have ambitious climate plans but lack the capital and expertise to implement them. This creates demand for goods, services, and technical support from firms in more advanced economies.

Finance mechanisms such as concessional lending, blended finance, and green bonds can unlock investment in renewable energy, infrastructure, and adaptation projects. For UK exporters, these mechanisms can create bankable projects that might otherwise struggle to attract commercial investment. Consequently, any progress on climate finance at COP31 could open new markets for British businesses.

Capacity building also matters. Countries that lack technical expertise or regulatory frameworks often need external support to design and implement climate policies. This creates opportunities for consulting firms, engineering companies, and training providers. However, it also requires patient engagement and a willingness to work within local institutional contexts.

For SMEs, accessing these opportunities often depends on whether international programmes are structured to include smaller suppliers. Large-scale infrastructure projects and government contracts can be difficult for smaller firms to access without support from UK government trade promotion, development finance, or partnership programmes.

Our sustainable procurement support services help businesses understand how climate criteria are being embedded into public and private sector tenders, both in the UK and internationally. This includes guidance on carbon measurement, supply chain transparency, and compliance with emerging standards.

How businesses can prepare for the implementation phase

Regardless of how COP31 unfolds, the shift towards implementation is already underway. UK businesses that operate in climate-sensitive sectors or supply chains should be preparing for a period in which delivery becomes more important than declarations. This means ensuring that sustainability strategies are backed by measurable data, credible reporting, and operational changes.

Carbon measurement is foundational. Many firms are now required to report emissions data for regulatory compliance, customer contracts, or investor disclosure. However, the quality of this data varies widely. Businesses that invest in accurate Scope 1, 2, and 3 emissions measurement will be better positioned to respond to tightening requirements and demonstrate credible progress.

Supply chain transparency is another priority. For companies involved in complex supply chains, understanding the carbon footprint of purchased goods and services is becoming a commercial necessity. This is particularly true for firms bidding for public sector contracts or working with large corporates that have committed to Scope 3 reductions.

Training and skills development are also critical. The shift towards implementation requires businesses to build internal expertise in areas such as carbon accounting, energy management, and sustainable procurement. Firms that invest in upskilling their teams will be better able to adapt to changing requirements without relying entirely on external consultants.

Our SBS Academy provides training on carbon reporting, net zero strategy, and sustainability compliance for businesses that need to build internal capacity. This includes practical guidance on measurement methodologies, reporting frameworks, and regulatory requirements.

Understanding the broader policy context for UK businesses

COP31’s focus on implementation should be understood within the broader context of UK climate policy. The government has committed to reducing emissions by 68% by 2030 compared to 1990 levels, and to reaching net zero by 2050. These targets require significant changes across every sector of the economy, from energy and transport to manufacturing and agriculture.

For businesses, this means that domestic policy is likely to continue tightening regardless of international developments. However, the pace and design of that tightening will be influenced by what happens at COP31 and other international forums. If multilateral cooperation strengthens, the UK is more likely to adopt policies that align with international standards. If cooperation weakens, there is a risk of divergence that could complicate cross-border trade.

Carbon pricing is one area where international alignment matters. The UK has an emissions trading scheme that operates independently of the EU system, but there are ongoing discussions about linking carbon markets to prevent leakage and ensure competitiveness. Progress on international carbon pricing at COP31 could influence the design of the UK system and the level at which carbon prices are set.

Trade policy is another area where international climate cooperation intersects with business conditions. The UK is negotiating trade agreements that include sustainability chapters, and there is growing interest in carbon border adjustment mechanisms that would apply tariffs to imports based on their carbon intensity. If multilateral standards for carbon accounting and border measures emerge, UK businesses could benefit from clearer rules and reduced compliance costs.

Our ESG compliance services help businesses navigate the intersection of climate policy, reporting requirements, and commercial risk. This includes support for carbon reporting, regulatory compliance, and understanding how international developments affect UK business operations.

Where to find authoritative information on COP31 developments

Businesses that want to track developments ahead of COP31 should monitor several authoritative sources. The UN Framework Convention on Climate Change website publishes official documents, statements, and updates from the presidency. This includes letters to parties, preparatory materials, and details of the negotiating agenda.

The Department for Energy Security and Net Zero provides updates on the UK’s position and priorities for international climate negotiations. This includes information on how international commitments are being translated into domestic policy and what businesses should expect in terms of regulatory changes.

For businesses operating internationally, tracking developments in key partner countries is also important. The European Commission, the US State Department, and equivalent bodies in other major economies publish regular updates on their climate policies and negotiating positions. Understanding where alignment exists and where divergence is likely can help businesses anticipate market conditions and regulatory changes.

Industry bodies such as the Institute of Environmental Management and Assessment and the Chartered Institute of Procurement and Supply also provide sector-specific guidance on how climate policy developments affect business practice. These organisations often publish briefings, webinars, and practical resources that translate international policy into actionable insights for businesses.