UN climate talks open in Turkey as officials warn fossil fuel costs drive global inflation

Delegates from nearly 200 countries have gathered in Turkey for the opening of the Cop31 climate summit, where officials warned that high fossil fuel prices are fueling worldwide economic inflation.

During the opening plenary on Monday, United Nations chief climate negotiator Simon Stiell told attendees that ongoing fossil fuel cost volatility has delivered a global shock wave. Stiell stated that high fuel prices are spreading inflation around the planet, impacting households and slowing economic growth.

The two-week conference opened under heightened pressure following recent natural disasters, including a glacier collapse in Nepal and Tibet that resulted in at least 1,459 deaths and thousands of missing persons, alongside a historic El Niño developing in the tropical Pacific.

Turkey hosts the negotiations alongside Australia, which is leading the talks. Australia's climate change minister and the president of the negotiations, Chris Bowen, addressed delegates by acknowledging that the Paris Agreement's 1.5C target will likely be overshot, but urged participants to work together to return below the threshold through urgency and resolve.

UN Secretary General António Guterres issued a statement urging global leaders to accelerate emissions cuts and deliver necessary financing and protection to vulnerable nations. Meanwhile, a high-ambition coalition comprising 20 member countries emphasized that the 1.5C temperature limit must not be abandoned despite the growing risks of an overshoot.

Turkey expects approximately 100,000 visitors to attend the summit, including at least 95 heads of state, ahead of a scheduled global leaders summit on Wednesday and Thursday.