Only a few weeks before COP26 is held in Glasgow, Scotland, discussions on sustainability, environment and net zero goals are the most concerned issues for many people.
The stakes are high for a climate change summit hosted by the United Kingdom. In a speech at the United Nations General Assembly last month, British Prime Minister Boris Johnson described COP26 as a “turning point for mankind.”
Johnson said: “We must limit the temperature rise to 1.5 degrees-even this summer can see its shocking effects.” “We must come together in a collective adulthood,” he added. “We must show that we have the maturity and wisdom of action.”
Breaking it down, COP26 will discuss a wide range of topics.
This picture shows an onshore wind turbine in the Netherlands.
Daniel Bosma | Moments | Getty Images
There will be discussions on adapting to climate change and raising funds to achieve climate-related goals, and a document outlining the summit’s goals stated that countries are “requested to propose ambitious emission reduction targets for 2030…consistent with achieving net zero emissions. Mid-century.”
The ambition of COP26 is lofty. It is a great challenge for all parties to agree on a common set of goals. This will bring positive results to the planet.
Cooperation will be the key to Glasgow, and in the recent debate hosted by CNBC’s Steve Sedgwick, some details touched on the importance of cooperation.
Sundar Ojimbo, CEO and Executive Director of the United Nations Global Compact, said: “At present, I think the climate crisis is something that really unites us on a common issue. We must unite a common issue together.”
The United Nations Global Compact is composed of more than 14,000 companies and claims to be the “largest corporate sustainability initiative” on the planet. As a voluntary program, it centers on 10 principles and focuses on human rights, labor, anti-corruption, and the environment.
In addition, the Global Compact stated that it supports companies to take “strategic actions to advance broader social goals, such as the United Nations Sustainable Development Goals, and emphasize cooperation and innovation.”
For her part, Ojiambo explained how important it is to develop a sense of solidarity when dealing with severe climate-related challenges.
She said: “What excites me the most is…Besides the members of the Global Compact, there is also a clear fact that to solve the climate crisis, you really need a partnership between government, the private sector and civil society. And. Indeed, it must be a multilateral response from multiple stakeholders.”
Ojiambo believes that getting companies to agree on such a wide range of issues must be a daunting task.
“We are not really asking for consistency on a series of issues,” she said. “What we are talking about in the Global Compact is to treat the 10 principles as the foundation of a responsible business.”
“But in terms of the Sustainable Development Goals, this is really a substantive issue,” she said, continuing to emphasize the importance of focusing on specific challenges.
“If you are in the extractive industry, what is more important to you is definitely very different from what you are in the banking or hospitality industry,” she said.
“So this will become an issue of importance and an issue that you need to prioritize and have the greatest impact.”
“But if I look at the fundamentals… we believe that adopting our principles on human rights, labor, environment, and anti-corruption will only make companies better.”
It is one thing for companies to take action, but as mentioned above, various stakeholders need to work together to ensure that efforts to combat climate change are effective and long-term.
For Adair Turner, Chairman of the Energy Transition Commission, it seems that a change has indeed taken place.
“The good news is that in the past two years, there has indeed been a positive ambition cycle…a self-reinforcing cycle between the government and the private sector,” he said.
He added: “Private sector companies are increasingly aware that with existing technologies, they can commit to achieving net zero emissions by the middle of this century.”
“That [is] Convince the government that they can set this goal, and [is] Make the company unable to align with this goal. “