The Imperative for Corporate Climate Action After COP26

COP created new pledges, and increased interest in demonstrable climate action.

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Glasgow Climate Pact

An unprecedented and wide-ranging agreement geared towards a more ambitious global climate response. The document explicitly welcomes the Sixth Assessment Report by the Intergovernmental Panel on Climate Change (IPCC) and the findings therein, and requests that countries revisit and strengthen emission reduction targets by the end of 2022. Many were disappointed in the lack of more concrete action language.

 

Glasgow Declaration on Deforestation

More than 100 world leaders, including Canada, promised to end and reverse deforestation by 2030, in the COP26 climate summit's first major deal.

 

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The Global Methane Pledge

Signed by 100 countries, who committed to cutting 30% of methane emissions by 2030.

 

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Climate Finance Delivery Plan for developing countries to adapt to climate change

The goal of $100 billion raised is within reach in 2022 and there is confidence that it will be met in 2023.

 

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Glasgow Financial Alliance for Net Zero

Countries commit to deliver more than $100 trillion in financing to transition global economies by 2050.

 

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Formation of the International Sustainability Standards Board (ISSB)

To develop a comprehensive global baseline of high-quality sustainability disclosure standards that meet investors’ information needs and provide a single unified benchmark and framework.

Rick Alsop
Advisor, Climate Change and Resilience, Environment
Canada
Reem Hamzeh
Advisor, Climate Change and Resilience, Environment
Canada