To keep 1.5°C alive, annual CO2 emissions in 2030 need to be reduced by further 22 Gt; at the end of COP26 Week one, commitments (if delivered) would close that gap by 9 Gt, leaving ~13 Gt to go, says new analysis.
UN Race to Zero and the Glasgow Financial Alliance for Net Zero (GFANZ) – a net zero alliance responsible for more than $130 trillion in assets in 40 countries across the financial sector, today publishes its Net Zero Financing Roadmaps.
On energy day of COP26, we can announce that Race to Zero energy members have committed, in aggregate, to reach 750GW of installed renewable energy capacity by 2030. This is enough to provide power to 896 million people today.
Over 40 world leaders have backed and signed up to the new Breakthrough Agenda, representing more than 70% of the world’s economy and every region.
Regions, cities, investors, businesses and governments are stepping up to build resilience in the most at-risk communities and reverse biodiversity loss within the 2020s.
More than 30 leading financial institutions, collectively with over US$ 8.7 trillion in assets under management have committed to tackle agricultural commodity-driven deforestation as part of broader efforts to drive the global shift towards sustainable production and nature-based solutions.
COP26 Finance is on November 3. See our COP26 Finance Day Guide events covering the UK Presidency Programme, Climate Action Zone Programme and Green Horizon Summit.
The financial industry is a critical enabler of efforts to decarbonize the global economy. Supported and underpinned by strong policy action, every company, bank, insurer, and investor will need to adjust their business models, develop credible plans for the transition to a net zero-carbon, climate resilient future, and then implement those plans.
The COP26 Finance Day Action Zone event will highlight how actors across the global financial system are taking near-term action towards net zero by 2050 consistent with 1.5C and are committed to implement and accelerate the transition.
The United Nations Development Programme (UNDP) is bringing a ferocious, talking dinosaur to the United Nations’ headquarters to shine a spotlight on the hundreds of billions of dollars governments spend every year propping up the fossil fuel industry.
Responsible for nearly 40% of all greenhouse gas emissions, the built environment is proving to be a driving force behind global climate change mitigation efforts.
The UN High-Level Champions for Climate Action, Gonzalo Muñoz and Nigel Topping, and the global partners of the UN Marrakech Partnership have published the result of months-long collaboration to strengthen and ground discourse on the role of hydrogen in decarbonization efforts.
The Glasgow Financial Alliance for Net Zero (GFANZ) – a net zero alliance responsible for more than $90 TN in assets in 40 countries across the financial sector, chaired by UN Special Envoy Mark Carney – today publishes a call for greater and faster climate action from G20 leaders to build a net zero global financial system and meet the goals of the Paris Agreement.
This year’s Climate Conference in Glasgow will feature a new Resilience Hub led by non-state actors from business, investors, civil society, academia, cities and regions.
Many of the world’s largest companies are among hundreds of business leaders appealing to the G20 to collectively agree to strengthen their national climate targets at the pivotal G20 and COP26 talks.
Following recent research that shows fewer than one in four of the world’s largest companies are on track to meet basic climate change targets and Europe will miss its 2030 climate goal by 21 years, the new London Declaration commits signatories to embed key climate considerations into every new standard that is created.
New tool launches to help identify businesses committed to climate action
Four new partners have joined the Race to Resilience, building momentum ahead of COP26 for raising ambition from state and non-state actors on climate resilience.
“I was honoured to chair today’s second meeting of the Glasgow Financial Alliance for Net Zero (GFANZ) CEO Principals Group. The Group discussed the progress being made on GFANZ’s priorities, workstreams and deliverables for COP26 and beyond. We will continue to drive this work forward, to help unlock the systemic change needed to achieve the global transition to net zero.” – Mark Carney
Scale for Resilience, a new initiative aimed at unlocking the capital needed to finance nature based solutions at scale, will be launched on September 14.
The opening session and launch of the Public Consultation on the Future of Race to Zero is taking place on Wednesday June 2.
