*[Enwl-eng] here is the latest news from the High-level Climate Champions at COP 26!
ENWL
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Fri Nov 5 00:33:50 MSK 2021
UN Global Climate Action
4 November 2021
COP 26
Finance and Energy Days in Review
Wednesday, 3 November, and Thursday, 4
November, saw the mainstream financial system aligning behind net zero
emissions by 2050, and an acceleration of the transition to clean energy.
Finance Goes Green and Resilient
The race is on for private finance towards
net-zero emissions by 2050 and new partnerships are set to drive exponential
growth in resilience investments. Find more in-depth news here.
● Through the Glasgow Financial
Alliance for Net Zero, over $130 trillion of private capital is now
committed to transforming the economy for net zero. GFANZ has grown 25-fold
since April to 450 firms from 45 countries, according to a new progress
report.
● These GFANZ commitments can deliver
the estimated $100 trillion of finance needed for net zero over the next
three decades. That’s 70% of total investments needed, according to new
analysis by Vivid Economics, commissioned by the UN Climate Change
High-Level Champions.
● UK Chancellor Rishi Sunak announced
new requirements for firms in the UK to publish plans for decarbonizing
through 2050.
● A Global Resilience Index launched
to improve the way insurers, financiers and investors measure the resilience
of countries, companies and supply chains. A number of grants and
investments are also going towards building resilience in at-risk countries,
including $100 million from the Green Climate Fund to support new
technologies.
● The UN-convened Net Zero Asset Owner
Alliance, responsible for $10 trillion in assets, has committed to phase out
most thermal coal assets by 2030 for industrialized countries and worldwide
by 2040. Thirty-three GFANZ members are now part of the Powering Past Coal
Alliance.
● The International Financial
Reporting Standards Foundation also announced a new International
Sustainability Standards Board to develop globally consistent climate and
broader sustainability disclosure standards for the financial markets. Its
creation marks the start of radical collaboration between leading
investor-focused sustainability disclosure organizations consolidating into
one board. Work begins by June 2022.
- - - - - - - - - -
The Energy Transition
A rapid transformation of the global energy
system is underway and accelerating. Find more in-depth news here.
● 44 countries, and 32 companies and
regions, signed COP26 President Alok Sharma’s statement on transitioning
from coal to clean power.
● The Powering Past Coal Alliance
welcomed seven new subnational governments, three new energy companies and
11 new financial institutions committed to end unabated coal power, in
addition to six countries.
● The Beyond Oil and Gas Alliance
previewed, before it launches on 10 November. It is an international
coalition of governments and stakeholders working together to facilitate the
managed phaseout of oil and gas production.
● Two new Green Hydrogen alliances were
launched: the Africa Green Hydrogen Alliance and LatAm Green Hydrogen
Alliance. They bring together industry leaders and policy makers to
accelerate zero carbon industry development in Africa and Latin America,
thereby supporting equitable deep transformation.
● The Green Hydrogen Catapult’s
collaboration is driving the cost of green hydrogen production across a key
tipping point to below $2/kg, having increased that production target from
25GW to 45GW over the past year, with an emphasis on a global approach to
scaling green hydrogen production in developing and developed countries.
● Twelve countries committed to the
largest increase ever in product efficiency. A global goal of doubling the
efficiency of lighting, cooling, motors and refrigeration by 2030 with
support from the Climate Group’s EP100 initiative of 129 businesses.
● The Global Energy Alliance for
People & Planet, was launched by the Rockefeller Foundation with the aim to
mobilize at least US$10 billion for the rollout of renewable electricity in
Africa and Asia, to help a billion people to overcome energy poverty and
fossil fuel dependence by 2030. The Alliance issued a call for
transformational country programmes to unleash a robust pipeline of
projects.
● The plan of establishing a Global
Offshore Wind Alliance in 2022 was announced, rallying governments and the
private sector to join forces to increase offshore wind ambitions and
implementation towards 2030 and beyond.
● The Race to Zero’s power producers
aim to reach over 750GW of renewable energy by 2030 and a breakthrough in
ambition has been reached in demand for renewable electricity.
● Ten pharmaceutical companies are
joining forces to cut indirect emissions by shifting to renewable energy.
The pharmaceutical and medical technology sector has hit the Race to Zero
campaign’s breakthrough in ambition towards halving emissions within the
2020s.
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From: Global Climate Action
Sent: Thursday, November 04, 2021 11:21 PM
Subject: Vladimir, here is the latest news from the
High-level Climate Champions at COP 26!
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