5 Key Takeaways from S&P Global Sustainable1
The COP26 climate conference in Glasgow has ended and while we saw progress in some areas such as shifting away from fossil fuels, tackling methane emissions, and protecting nature and biodiversity, the world still has a long way to go in the years ahead. Here, we present our five key takeaways from COP26 on progress made and areas that still need work.
1. Public funding and private financing must connect:Financial institutions representing trillions of dollars have committed to tackle climate change but getting that money to the right place remains a huge challenge.
2. An Article 6 win: Countries reached a deal on Article 6 of the Paris Agreement, which will govern international carbon markets and ensure emissions reductions are not double counted among countries.
3. Nature gets its due: Pledges to preserve or restore nature as part of addressing climate change garnered more attention at COP26 than in past years, particularly on the issue of stopping deforestation.
4. Climate commitments require more accountability: We saw progress at COP26 in terms of government agreements and private sector pledges, but accountability needs to be strengthened.
5. A focus on buildings’ carbon intensity: While much of the focus at COP26 was on moving away from fossil fuels, emissions from the buildings sector remain a key challenge that have yet to be fully addressed at the government or even private sector level.
