COP26 – Impact on your Industry

cop26

 

For nearly three decades the UN has been bringing together almost every country on earth for climate change summits, or COPs (‘Conference of the Parties’), with COP26 being the 26th annual summit. Over that time, the subject has gone from being a peripheral matter to a global priority - with many believing it to be the world’s last real chance to get climate change under control. 

At COP21 (which took place in Paris in 2021) every country agreed to work together to limit global warming to well below 2 degrees and aim for 1.5 degrees, to adapt to the impacts of a changing climate and to make money available to deliver on these aims. It was also agreed that each country must present a “nationally determined contribution” (NDC), updated at least every five years.

The commitments laid out in the NDCs that followed COP21 do not come close to limiting global warming to 1.5 degrees and now the pressure is greater than ever for countries to come forward with ambitious emissions reductions targets that align with reaching net zero by the middle of the century.

To deliver on these stretching targets, countries will need to:

  • accelerate the phase-out of coal;
  • curtail deforestation;
  • speed up the switch to electric vehicles; and
  • encourage investment in renewables.

Our team can help clients across all industries to understand the potential impact that COP26 may have on their business. Our team can also advise on opportunities for business (including green finance, renewable energy, and new technology to cut greenhouse gas emissions).  

For enquiries, please contact Arianne King at aking@costiganking.com