11th IICEC Conference: Global Energy and Climate Trends and Implications on Turkey

Global energy and climate trends and implications on Turkey were discussed in the “Global Energy and Climate Trends & Implications on Turkey” conference of IICEC held at Sabancı Center. During the conference which started with the opening speech of Güler Sabancı, the Founding Chair of Sabancı University Board of Trustees, Ayşem Sargın, Chair of YASED, and Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA) and Honorary Chair of IICEC delivered speeches. Delivering the opening speech of the conference “Global Energy and Climate Trends & Implications on Turkey”, Güler Sabancı highlighted the importance the IICEC Conference, and thanked Ayşem Sargın, Dr. Fatih Birol and panelists for their contributions. Güler Sabancı: “We aim to make Sabancı University campus net-zero.”

“The green transition agenda became more important for evolution and development of international investments” Delivering a speech at the conference, Ayşem Sargın, Chair of YASED (International Investors Association) said the following: “The most positive development after the pandemic is that the green agenda became more and more important, to such an extent that it impacts evolution of international investments now. The 2021 theme of the global investment report was “a sustainable recovery”, parallel to the COP26 agenda, and pointed to the growing chances for green investments and financing, and highlighted that there were important opportunities ahead. All global actors agree that international cooperation is the key to success in leaving the pandemic behind and fighting climate change.”

However, it is not only about transition; what we should focus on is to secure a lasting, sustainable transition as inclusively as possible. International investments will play a catalyst role in the green transition. “A clear message from Glasgow to the world of energy and investors” Emphasizing at the IICEC Conference that there was a new trend in global energy markets, Dr. Fatih Birol continued as follows: “There is a certain trend in energy markets. A new energy system is born. When you look at the energy market over the last 30 years, 80% of energy came from fossil fuels, coal, gas and oil, but the change has started. The change is continuing rapidly and the speed at which the change will continue depend on the decisions made in Glasgow and further decisions of governments. All the countries in the world adopted the Paris Agreement. In Turkey, the Paris Agreement became a law yesterday, which is a very nice development. Many countries set zero emission targets for 2050 and some others for further years. A clear message was sent from Glasgow to the world of energy and investors. The message is the following: “You, investors, if you want to continue to invest in fossil fuels, go ahead, but beware, your investments many be a bit risky. Whether you believe in climate change or not, whether you like fossil fuels or not, the risk of investing in fossil fuels, particularly coal, is now factored in as a parameter for predictions.”

Following the speeches, “Business Leaders’ Perspectives” panel started. Moderated by Ahmet Erdem, Shell Turkey Country Chair, Sinan Ak, CEO of Zorlu Energy, Erkan Kafadar, CEO of Borusan Holding, Merve Öztunç, Baker Hughes, TPS Country Leader, Hakan Yıldırım, CEO of Sanko Energy, and Kıvanç Zaimler, Sabancı Holding Energy Group President discussed recent developments in climate and energy from the perspective of energy sector and energy companies.