The key facts

  • Chris Bowen said a successful COP31 would be one that convinces businesses to keep investing in renewables and citizens that there is hope
  • Under discussion are the just transition mechanism, the mitigation work programme, climate finance and Article 2.1(c) of the Paris Agreement
  • According to Bowen, only 0.2% of global climate finance reaches small island states for adaptation

'Polycrisis' and a message to business and citizens

Australia's Minister for Climate Change and Energy Chris Bowen, answering a question at a COP31 press conference in Antalya, characterised the current international situation as a 'polycrisis': wars, the climate crisis, the rising cost of living, energy instability and growing electricity consumption by data centres are simultaneously pressing on communities and states, intensifying economic pressure. He also warned that the climate crisis is being exacerbated by the threat of a super-powerful El Niño.

What a successful summit must demonstrate

According to Bowen, a successful COP31 must deliver two messages: to the world — that multilateralism works, and to company boards of directors — that it is worth continuing to invest in renewable energy, since governments will support it. 'This is a message to boards of directors — to invest, and to living rooms — that there is hope,' his statement was quoted as saying. He added that governments must reaffirm their commitment to the goal of limiting warming to 1.5 degrees Celsius in line with the Paris Agreement, and stressed that the work begun at the negotiations in Paris, Glasgow and Dubai must continue and be strengthened at COP31.

Progress of negotiations: just transition and finance

Bowen listed the key topics of the negotiations: the proposed just transition mechanism, the mitigation work programme, the climate finance work programme and Article 2.1(c) of the Paris Agreement on aligning financial flows with low-carbon and climate-resilient development. Some issues, he said, will require further technical discussions, while others will require political agreements in the second week of the summit. He described the discussion of the just transition mechanism as constructive: the draft text published in the first week provides for political and practical components, including a possible 'matching' service for countries to access support, expertise and finance, a knowledge-sharing platform and measures to coordinate existing initiatives.

Electrification, fossil fuels and Australia's experience

On the topic of electrification, Bowen noted, there is significant momentum, and the presidencies seek to reflect countries' ambitions in a way that ensures consensus; as an example he cited China's statement on the goal of raising electrification to 35% by 2030. On the transition away from fossil fuels, he declined to predict the outcome of the negotiations, saying further discussions were needed. He cited Australia as an example: the share of renewables in the country has grown from 33% in 2022 to 50%, with a target of 82% by 2030.

Vulnerable countries' access to climate money

Bowen separately addressed the difficulties faced by small island developing states in accessing international climate finance, particularly for adaptation: according to him, currently only 0.2% of global climate finance goes to these countries for adaptation. 'What we are doing now is not working for the access of the countries that need it most. The countries that need the most will get the least,' he said. He announced the creation of a new working group involving Australia, the United Kingdom and other partners, which will work with multilateral development banks on practical solutions to improve access to finance; the Green Climate Fund, he said, has already expressed its readiness to join, while complex application procedures often prevent vulnerable countries with limited administrative capacity from receiving support.