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.