COP31 electrification push faces $1T financing gap, Atlantic Council official says

Efforts to raise global electrification levels to 35% by 2035 will require major investment in power grids and related infrastructure, with the current financing gap estimated at around $1 trillion, Atlantic Council senior director Defne Arslan told Türkiye Today at COP31.

Arslan, senior director for Atlantic Council regional programming including Türkiye, said electrification had emerged as one of the major themes of the U.N. climate conference in Antalya.

She said the current electrification level stands at around 21%, while the target is to raise it to 35% by 2035.

Reaching that goal, however, will require significant new financing for grids and other infrastructure, she said.

“The rough estimate is that the gap is around $1 trillion right now,” Arslan said.

The 31st Conference of the Parties to the UN Framework Convention on Climate Change (COP31) continues at the Antalya COP31 Venue in Antalya, Türkiye, on Nov. 13, 2026. (AA Photo)

Financing takes center stage at COP31

Arslan said the International Energy Agency organized a major plenary session on electrification at COP31, bringing ministers together to discuss the issue.

She said banks and international financial institutions were also meeting across the conference’s blue and green zones and at related events to discuss how the financing gap could be closed and the 2035 electrification target achieved.

Arslan, who is Turkish, praised the organization of COP31 and described the summit as successful so far.

She said the Washington, D.C.-based Atlantic Council is active in regional energy and climate policy and is focusing on how decisions made at COP31 can be translated into implementation.

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Atlantic Council to launch water report

Arslan said the Atlantic Council would launch a report Friday at 3:00 p.m. in COP31’s green zone focusing on water and the importance of water use.

She described the report as one of the council’s key contributions during the conference.

Beyond the report, Arslan said the Atlantic Council was working on policies and ideas aimed at helping companies and countries turn COP31 decisions into action.

“We are the policy body implementing and helping companies and countries to implement the COP decisions,” she said.

November 13, 2026 03:29 PM GMT+03:00