ESG Updates

COP 26 -Day 8

EU climate envoy calls for rich countries to come up with emissions reduction plans
The topic of rich nations’ role in aiding poor countries by financing their climate solution plans prevails once again. This time, however; The European Union’s top climate envoy calls on rich countries to not only advance financing but also to develop emission reduction plans to help developing nations battle the climate emergency. The European Commission Vice President Frans Timmermans shared his goal to convince major emitters “not just to declare a date for carbon neutrality or climate neutrality” but to demonstrate policies to achieve it.

Former U.S. President Obama addresses the summit
As COP26 heads into its second week, former U.S. President Barack Obama addresses the summit. He touches on many critical concerns as he shares, “we’re still falling short” on climate action. He praises recent efforts towards solutions stating that “meaningful progress has been made” however; there is more to be achieved in the battle against climate change. Continuing on he emphasizes the integral role of the youth in the current emergency.

Netherlands ends international fossil fuel finance
The Netherlands accompanies a number of nations that have committed to stop funding international fossil fuel projects. The Netherlands State Secretary for Finance shared that he believed this measure is a “major step in the right direction to counter climate change.”

U.K. businesses make the transition towards sustainability
As part of the Council for Sustainable Business’ Get Nature Positive, 95 prominent U.K. businesses have committed to developing sustainable businesses by reversing the negative impacts arising from their operations by the end of the decade.