You have probably heard something about COP26 in the media recently. On Sunday 31st October the 26th UN Climate Change Conference of the Parties (also known as COP26) started in Glasgow, Scotland. But what is it and why is it important?
What is it?
In short, it is considered by many as a last chance for humanity to save itself from climate catastrophe.
This two-week Summit is bringing the world together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
The UN said that more than 190 world leaders would participate, but one week in we know that not every country is present at COP26. Some big countries like Russia and China are not partaking. Interesting as China is responsible for 28% of the world’s greenhouse gas emissions (the worst in the world).
Why is COP26 important?
We are in the middle of a climate change crisis, serious steps need to be taken to save the planet. Individuals must take action against this, you’re likely to be on a sustainability journey if you’re reading our blog, which is a fantastic start but more needs to be done. Likewise countries also need to make big changes in their policies and actions and that’s what COP26 is about. During this two-week Summit plenty of negotiations will take place between high level Ministerials and Heads of States.
One of the key themes for COP26 is finance, an area really important to me as a chartered accountant. The world is re-emerging from the Covid-19 pandemic and it is our chance to rewrite the economy. As stated by the COP26 President Alok Sharma “we need developed countries to deliver on public finance, and to unleash the trillions required in private investment to create a net zero future and protect lives and livelihoods from devastating effects of climate change”.
We at Susty Wear see climate change as a pressing matter and that’s why we’re very curious to learn what the outcome of COP26 will be.
Please let us know if you are following COP26 and whether you’re happy with the progress to date.