It has been a significant week, as world leaders have gathered in Glasgow for COP26 and there have already been some significant initiatives announced, and most importantly we are seeing a collaborative approach to tackling climate change.
It is clear individual countries can pursue changes through Government, but the key is working together to achieve global change.
More than 100 countries have promised to reverse deforestation by 2030 – an announcement which also included funding of £14 billion. A pact has also been made to cut emissions of methane by 30 per cent by 2030.
While these actions won’t solve the crisis overnight, they demonstrate forward thinking and commitment from world economies.
I know the Prime Minister has been honest about the challenges ahead, and the significance of the challenge to prevent global heating from reaching any higher than 1.5 degrees, but steps like getting to net zero targets– including the 2050 target here in the UK – will have a significant impact.
As I write this, the Chancellor is setting out how the UK is planning to lead the way financially by not only investing in a low carbon future but ensuring globally our finances align with that target, whilst also helping developing countries. It is pleasing to see the 20 biggest economies in the world providing $100 billion of climate finance to these countries, with the UK committing £100 million to a taskforce for access to critical finances.
We all know how important this is, but there are now clear goals and plans, with the financials also set out – this will take everyone with us and make a huge difference to our planet while we all look to individually change our habits day to day.