edie publishes updated guide on the business opportunities of COP26
edie has published an updated Explains guide detailing everything you need to know about this year's COP26 climate summit and how businesses can get involved and use the discussions to improve their approach to sustainability and the net-zero transition.
What's happening on each day of the COP26 climate summit this November? How does the COP process work, and what are the desired outcomes? In the final run-up to the talks, edie's definitive business guide to COP26 has you covered.
The 26th United Nations (UN) climate change conference is arguably the most crucial of them all. World leaders will be ramping up national efforts to combat the climate crisis through raised ambitions and decarbonisation roadmaps. And businesses will be expected to lead the charge.
This business guide to COP26, sponsored by EY, breaks down everything you need to know about the sustainability opportunities of COP26. The guide includes a full summary of what we know so far about the talks, who's involved, what's happening on each day, and what your organisation can do to turn the ambitions of COP26 into business actions.
The “COP” element of COP26 refers to the Conference of Parties – an annual mechanism established by the United Nations Framework Convention on Climate Change (UNFCCC) at the Rio Earth Summit in 1992. Through annual COP summits, the UNFCCC convenes more than 200 countries – referred to as “parties” – to discuss and agree to measurements to combat the escalating climate crisis. COP26, then, will be the 26th annual meeting of these parties.
It is also arguably the most crucial COP of them all. Nations are ramping up efforts to combat the climate crisis through raised ambitions and decarbonisation roadmaps.
While COP26 is a summit that will see political decision-makers discuss the future of climate action, there are key opportunities for businesses as well.
Already, almost one in three FTSE100 companies have signed up to the UN's Race to Zero campaign, designed to accelerate the adoption of net-zero targets ahead of COP26. According to the UK’s COP26 unit, FTSE100 signatories to Race to Zero represent a total market capitalization of £650m. This is before smaller businesses, non-listed firms and businesses covered by industry collaborations, like Water UK’s net-zero by 2030 roadmap, are accounted for.
However, there are less obvious ways that businesses can align with the global climate summit, and this edie Explains guide explains how businesses can harness the momentum of COP26 to boost their own long-term strategies, garner better reputations and set a trajectory to net-zero.