COP26 brings the major emitting countries face to face with the countries most vulnerable to climate change. The World Leaders Summit will send a clear signal to negotiators to be as ambitious as possible and agree to a negotiated outcome that accelerates action this decade.
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Following a series of reports and studies warning that urgent action is needed to keep the Paris Agreement’s goal of limiting global average temperature increases to 1.5C within reach, the United Nations Climate Change Conference opened on October 31, 2021 with the key aims of raising ambition on all fronts and finalizing the agreement’s implementation guidelines.
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President Biden must restore lost trust in the United States as a reliable global climate partner. The Trump administration squandered that trust. Biden is working to earn it back. His strongest card is to lead by example, showing how he’ll keep his promise to cut U.S. carbon emissions and other greenhouse gases by 50 percent to 52 percent, compared to 2005 levels, and get to 80 percent clean electricity by 2030.
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The IEA’s newest report shows that G7 members are well placed to decarbonise their electricity by 2035, helping to unlock the benefits of clean electrification globally. This week’s G7 pathway from the IEA shows why a 2050 net-zero economy needs a 2035 net-zero electricity sector. With lots of progress to celebrate, there’s still a hefty gap between what the G7 has committed to so far, and where they need to be in the next 15 years.
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This report was produced by Climate Policy Initiative and the Global Center on Adaptation. It identifies the key actors providing adaptation financing in Africa, the instruments used to finance adaptation projects and programs, the sectors of adaptation, key barriers to finance, and case studies of successful projects.
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A landmark Net Zero Strategy setting out how the UK will secure 440,000 well-paid jobs and unlock £90 billion in investment in 2030 on its path to ending its contribution to climate change by 2050 has been unveiled by the UK government on October 19, 2021. Building on the Prime Minister’s 10 Point Plan, the UK Net Zero Strategy sets out a comprehensive economy-wide plan for how British businesses and consumers will be supported in making the transition to clean energy and green technology.
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Germany is a clear leader on climate finance. It provided $4.8 billion in 2019; and was the leading country in terms of the increase in all public development finance in the prior decade, with a $17.4 billion increase over the period. At the G7 Summit in Cornwall this year, Germany said it would increase its climate finance by €2 to €6 billion a year by 2025 at the latest.
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The move to Net Zero has become a race as governments, corporations, and societies increasingly advance more ambitious targets to decarbonise and act against climate change. Yet the unspoken reality is that few CEOs or leaders have clear plans to deliver on these goals. Much progress needs to be made to decarbonise at scale and within the timelines proposed.
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