Proceedings in Glasgow begin this weekend with a two-day World Leaders Summit where heads of state are expected to deliver concrete actions and credible plans aimed at achieving coordinated action to tackle climate change. A strong unified show of leadership and commitment from world leaders to close the emissions gap this decade, mobilise the finance required to deliver the net zero transition and support those on the front lines to adapt to the impacts of climate change will help to create the right dynamics to achieve the COP’s goals.
“The foundations for success will be laid before delegates arrive at COP26. While we have seen a raft of new NDCs (national climate targets), it’s crucial the G20 sets a unified and ambitious tone (committing to raising their 2030 ambition, and Net Zero by 2050, and action on coal) and for developed countries to make good on their promise to raise $100bn a year in climate finance.”
Kiran Sura, sustainability and climate change adviser at PwC
This is the first COP where business action is receiving a significant profile, with a real groundswell of action under the Race to Zero, Race to Resilience and GFANZ campaigns. Business will also be pushing to see progress on the establishment of carbon markets and signals on how sectors are transforming. We can expect more businesses to announce Net Zero commitments; analysis and reports to support on issues from climate reporting and investment to climate technology, and potentially new products and innovations launched that support the transition.
High stakes. High rewards. COP26 is the first major meeting on the climate emergency since 2019. Over the last twelve months, we have seen a groundswell of action on climate from governments and non-state actors such as businesses, investors, cities and civil society. Now is the time to galvanise this momentum and provide a response that is commensurate with the climate emergency we are facing. Through coordination, collaboration and commitment it is possible to keep 1.5°C alive and deliver a resilient, sustainable, net zero world.