In an attempt to avoid catastrophe world leaders from 200 countries are taking part in the 26th Conference of the Parties (COP26) climate summit in Glasgow (31 October to 12 November). Many countries will present their plans to reduce emissions from fossil fuels like coal, oil and natural gas by 2030. In a previous summit in Paris in 2015, it was agreed to take strong measures in order to keep global warming below 2C and reach net zero emissions by 2050.
Ofer Levin GTI, which provides an in-depth analysis of global markets, emphasized in its latest report that the contribution of the business sector to the fight against global warming greatly increased in the past few years.
As for its contribution in COP26, the report stated: “In this year’s summit, the business sector is much more committed than ever before to the common goal of reducing greenhouse gas emissions. The biggest banks and pension funds in the world with assets of around 130$ trillion are now gradually stepping in, in what can be a game-changer in the fight against climate change. Other efficient measures are expected to take place sooner than planned, such as the phasing out of coal power, the swift switch to electric cars, and the introduction of new sustainable innovations.”
