Türkiye outlines plans to phase out dependence on coal ahead of climate summit

The Turkish Energy Minister outlined plans for his country aimed at gradually eliminating dependence on coal and other fossil fuels, as it prepares to host the 31st United Nations Climate Change Conference (COP31) summit.

World leaders are scheduled to arrive next week in the Mediterranean city of Antalya, and Türkiye's hosting of the annual environmental conference has highlighted its own use of coal, oil and gas.

It is noteworthy that Türkiye is the largest coal power generator in Europe, according to the Amber Energy Research Center. The Turkish Ministry of Energy says that coal was still the largest source of energy last year, constituting 33 percent of total power generation, and the share of solar and wind energy in electricity generation amounted to about 23 percent.

Turkish Energy Minister Alp Arslan Bayraktar revealed the National Energy Plan for 2040 to journalists in a report published on Friday, in which he said that Turkey aims to shift from coal to more clean energy sources, a process known as “electrification,” which is a term in the field of natural sciences and engineering that refers to the process of generating electrical charges, and this will help fulfill its pledge to reach zero emissions by 2053.

He added: “When we reach 2040, we will reduce our emissions by 40 percent. This major change towards relying on electric charging generation will make that happen,” he said, noting that the use of solar and wind energy sources will increase more than four-fold over the next 13 years.

John Williams, President of the Federal Reserve Bank in New York, said on Friday that economic growth in the United States has remained remarkably resilient despite successive shocks, but inflation is still too high, and it is necessary to return it to the target level of 2 percent.

Williams added during a European Central Bank conference in Frankfurt: “The inflation rate is definitely higher than necessary.” “It has been too high for too long.” He continued, saying: “It is absolutely necessary that we return inflation to our two percent target in a timely manner and on a sustainable basis.”

Global food prices fell slightly during October, with weak demand for imports contributing to a decline in monthly prices for grains, dairy products and meat, but they remained about 6 percent higher compared to the same period last year, according to what the Food and Agriculture Organization of the United Nations (FAO) announced on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, averaged 133.9 points in October, compared to 135.6 points after the review in September. The index recorded an increase of 5.9 percent compared to the same period last year, but it remained 16.4 percent lower than its peak recorded in March 2022.

The FAO Cereal Price Index fell by 4.5 percent compared to September, and by 12.6 percent year-on-year, with wheat and maize prices declining. Wheat prices fell due to weak demand for imports and improved production prospects, especially in Argentina.

The FAO said in a statement: “Expectations of easing restrictions on export flows through the Black Sea contributed to increasing downward pressure on prices, although the continuing logistical disruptions in the region limited this decline.”

Corn prices also declined after reaching their highest level in three years in September, affected by the harvest season in the United States, expectations of abundant supplies in South America, and renewed hopes for easing tensions in the Black Sea region.

In contrast, vegetable oil prices increased by 0.3 percent. The rise in soybean and sunflower oil prices offset the decline in rapeseed oil prices. Sugar prices rose by 6.6 percent, recording the fourth monthly increase in a row, reaching their highest levels since December 2024, after rains disrupted harvesting operations in Brazil. Thus, prices became 28.8 percent higher compared to their levels a year ago.

The dairy products price index decreased by 1.1 percent, with the impact of the decline in butter and cheese prices, as a result of abundant supply and weak demand, exceeding the gains in milk powder prices. The meat price index also fell by 1.2 percent, although it remained slightly higher than its level a year ago, with the prices of pork, sheep and cattle falling.