A year since COP26
The current economic an political climate has made the transition to a low carbon economy more challenging since COP26, 12 months ago in Glasgow. In the year that has passed the optimism felt during and post COP26 has been quickly lost. Making way to uncertainty, driven by a multitude of geopolitical, tehcnical and economic factors.
Despite the pledges made by a number of leading nations, the war in Ukraine has added a deep political polarisation into the mix, compounding the difficulties of Covid-19 recovery for many nations and businesses. Reduced international cooperation, rising inflation and interest rates have created the perfect storm within which the drive for transition has been somewhat lost.
For now, energy security has taken priority over transition. The result being, that energy uncertainty has temporarily placed decarbonisation in the back seat, moving the challenge from the technical to an economic and midset focus. COP27 offers an opportunity to take stock, reset the agenda and increase collaboration. To find out more about COP27, the agenda and events, check out the link below.
The progress
Business has led the way with decarbonisation in 2022.
Check out some of the progress made:
- 40% of organizations plan to accelerate sustainability efforts over the next year
- Almost 70% of businesses have a climate mitigation plan or strategy
- 1 in 3 UK businesses now have a sustainability policy in place
What is COP27?
COP27 is a gathering, hosted by the United Nations held in Sharm El-Sheikh providing global leaders to discuss the challenges and the opportunities related to climate action, and the potentials and needs of all including those who are in vulnerable situations and the vulnerable communities to accelerate climate action.
It offers a unique opportunity to take on the climate challenge through concerted, collaborative and impactful action through global collaboration. The event brings together representatives from 200 countries to showcase and discuss plans for carbon reductions.
"For now, energy security has taken temporary priority over transition... business and government must collectively act as the catalyst in changing this"
The key issues
- Global average temperatures and how to keep them under 2°C
- Strengthen globa climate adaption and resilience
- Alignment of national level policy with international climate action goals
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