Topics covered in this podcast…

• COP26 saw many significant private and public agreements come to light which could help drive the climate agenda forward into the next decade
• Formally, countries were requested before COP26 to attend with beefed up plans for cutting greenhouse gas emissions at a pace that limits climate change
• The UAE made a commitment to being net zero by 2050, and Saudi Arabia presented its ambition to be net zero by 2060
• Countries in attendance were requested to return to COP27 in Egypt with strengthened targets
• Side agreements made included 100 countries signing on to reduce methane emissions by 30 percent by 2030 compared to 2020 levels
• 40 nations said that they would work together to align standards, coordinate investments to speed up the tipping point for green technologies
• This was the first time that a global climate deal has explicitly set out that fossil fuel is a major driver of climate change and set out a plan to reduce the use of coal to generate electricity
• The Glasgow Declaration on Deforestation was a significant pledge made by 100+ countries
• The 1.5C world is still alive, but a lot of climate diplomacy is required leading into COP27 in Egypt and COP28 in the UAE
• Net zero rulebook published prior to COP26 now sets out that carbon offsets can only be used for 10% of residual emissions for private companies
• WSP encourages clients to understand both the risks and opportunities that the climate change and net zero agendas provide
• Climate action a substantial top-line growth opportunity for organisations

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