Although not the transformative COP the world needs at this point - recent analysis has shown we are on course for between 2.4C and 2.8C because new plans by countries have been too weak - there have been signs of progress and pockets of real change. However, more than ever we believe that after COP26 in Glasgow the fight to end climate change is neither a marathon nor a sprint, but rather a relay race — the fundamental point being that the baton isn’t dropped between summits and that progress is achieved at each gathering.
Loss and Damage
After 48 hours of negotiations by parties, Loss & Damage was included in the official COP 27 agenda, looking particularly at how to fund nations that are mostly impacted by climate change. This is considered a big milestone and achievement for developing countries and jurisdictions as they have been continuously calling for its inclusion in the debate agenda.
Forests and Climate Leaders’ Partnership
Launched on 7th November, a voluntary partnership of 26 countries and jurisdictions (FCLP) came together to commit to scale up action to protect, conserve and restore the world’s forests and to halt and reverse forest loss by 2030.
The Sharm El-Sheikh Adaptation Agenda
On 8th November, the launch of the Sharm El-Sheikh Adaptation Agenda was announced, stressing the importance of cooperation and the work of parties to act together to find climate change adaptation solutions.
Finance Sector Deforestation Action initiative
FSDA: Leading financial institutions from Japan to Norway to Brazil, all signatories to the Financial Sector Commitment, will act towards eliminating commodity-driven deforestation from portfolios to help drive progress towards a net zero, nature-positive economy.
New Gold Standard for Best Practice Climate Transition Plans
Launched by the UK’s Transition Plan Task force, the gold standard for climate transition plans aims at supporting organizations in developing net zero transition plans. Read about our reaction in section 2 below.
“Integrity Matters: Net Zero Commitments by Businesses, Financial Institutions, Cities and Regions” report
Released by the High-Level Expert Group on Net Zero Emissions Commitments of Non-State Entities, this report provides a crucial roadmap to bring integrity to net zero commitments by industry, financial institutions, cities and regions and to support a global, equitable transition to a sustainable future.
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Get in touch
If you are ready to move from talk to action or want to accelerate your sustainability progress please get in touch with Russell Smith, Head of Sustainable Futures. We’d be delighted to hear from you.
Head of Sustainable Futures
KPMG in Ireland