+34 910 74 71 48

Blog Gedeth

The main agreements of COP26

Our new consultant’s first post: A post on the steps to be taken by world governments after the Glasgow Summit.

The goal: to prevent a 1.5°C increase in global warming.

Cutting CO2 emissions by 45% by 2030 becomes a priority for governments if the 1.5°C target is to be met.

The targets set to mitigate the effects of climate change are:

  • Accelerate the phase-out of coal, in particular by reducing methane emissions to 30%.
  • End deforestation
  • Accelerate the switch to electric vehicles
  • Encourage investment in renewable energies

COP26 must achieve not only pledges but also commitments to rapid emission reductions. This will require transition plans for low-carbon economies.

Other targets to be reviewed at the Glasgow Summit include:

  • Adapting to protect communities and natural habitats
  • Mobilize financing
  • Cooperating to meet the challenges of climate change

The role of the private sector

More than 450 banking firms have agreed to commit 112 billion euros over the next 3 decades to activities that contribute to decarbonizing the economy and reducing CO2 emissions.

In turn, Jeff Bezos’ foundation together with 11 donor countries includes in a joint declaration an aid of at least 1.5 billion dollars, destined to the protection and reforestation of the Congo Basin forests.

Will COP26 mark a turning point in the fight against climate change? If the goals set come to fruition, with governments and business working hand in hand it could mean a major impact on the environment. Otherwise we will be ignoring a growing problem.

If you want to know how the transformation to a more sustainable world can have a positive impact on your company, contact us.