World looks to COP26 to accelerate climate commitments

World looks to COP26 to accelerate climate commitments

Greenhouse Gas (GHG) emissions hit record levels in 2020, according to figures released by the UN’s World Meteorological Organisation (WMO) on Monday.

This is despite hopes that Covid-19 related lockdowns would slow and even reduce the release of carbon dioxide and other climate-warming gases.

As nations gather for the COP26 Climate Summit in Glasgow next week, it is hoped findings like this will encourage greater commitment from all countries to halting – or at least mitigating – GHG emissions by 2050.

Greater action needed

Current global efforts are “way off track” according to WMO chief Professor Petteri Taalas. “We need to transform our commitment into action that will have an impact on Greenhouse Gas.”

So, it is expected there will be some interesting announcements when leaders from 196 countries gather in Glasgow from Sunday for two weeks of meetings, negotiations, and presentations.

In addition to world leaders, Sir David Attenborough and Greta Thunberg will be among the 20,000+ COP26 attendees. However, neither Vladimir Putin nor Chinese President Xi Jinping will attend.

We’ll be bringing you the key news likely to impact the business community as the action unfolds from 1 to 12 November, via our social media channels @npower_nbs on Twitter and npower Business Solutions on LinkedIn.

Four key summit goals

COP26 – which is the 26th ‘Conference of the Parties’ or COP – has identified four key goals to achieve:

  1. Secure global net zero by mid-century and keep 1.5 degrees within reach.
  2. Adapt to protect communities and natural habitats.
  3. Mobilise finance (this involves developed nations making at least $100bn in climate finance available per year to fund the first two goals).
  4. Work together to deliver (including finalising the Paris Agreement Rulebook and accelerating action).

Calls for businesses to set science-based targets

The UK was the first major economy to commit to net zero by 2050. But action from the business community is vital to achieving this.

According to a new report backed by the WWF, companies are responsible for two-thirds of the UK’s domestic land-based emissions annually, with large businesses accounting for the largest proportion.

But the Corporate Ambition Meets Net Zero Mission report claims if all large businesses set science-based targets in line with the Paris Agreement’s 1.5C trajectory within the next two years, we could deliver half of the emissions reductions needed to reach net-zero by 2050.

To understand more about how working to science-based targets can help your business with its net zero plans, talk to your Client Lead (existing customers). Or contact us at nBS@npower.com.

And don’t forget to tune in to our social media channels @npower_nbs on Twitter and npower Business Solutions on LinkedIn for COP26 coverage over the coming two weeks.

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