VIDEO: Coutts CEO Peter Flavel on corporate climate action and achieving a just transition at COP26
EXCLUSIVE: The chief executive of private banking and wealth management firm Coutts has told edie he is "very positive" to see so many businesses present at COP26, but that there's still "a lot to do" when it comes to advancing a just transition to net-zero economies.
Speaking to edie’s content director Luke Nicholls from the top of the Radisson Red hotel opposite the SEC Centre in Glasgow this morning (5 November), Flavel said he was pleased to see so many businesses represented in the various talks and sessions that have taken place at COP26 so far.
“This is the first time business has been at COP,” Flavel said. “All previous COPs have been about NGOs, governments and regulators, and they are definitely part of the solution – but we need to mobilise business; and then the finance sector needs to finance a just transition across all sectors of the economy.
“Aviation, communication, shipping, food, agriculture – all elements of the economy need to move towards a just transition, because this is a systemic issue and the only way we’re going to get to 1.5C is through a concerted effort by everyone.”
Reflecting on a hugely significant Finance Day at COP26 earlier this week, Flavel spoke of the need for a more joined up approach to financing a just transition to net-zero, and for businesses to begin to move from ambition to action with their climate targets.
“There’s a lot to do,” he said. “Governments and regulators need to provide a fertile ground for businesses to address a just transition to net-zero – that’s about ensuring we’ve got common standards and metrics so that we can properly compare how people are progressing.
“Secondly, everyone needs to set their own targets, but those targets can be a long way off. We can’t wait to 2029 – it’s about real action now, and that’s what’s got to come out of COP this week.”
edie at COP26
Want more exclusive content from inside COP26? Hosted in association with our headline COP26 content partner O2, edie is running a daily podcast show, featuring exclusive interviews with some of sustainability’s sharpest minds. Check out the COP26 Covered podcast here.
We’re also providing regular live updates of all the major announcements. From rousing speeches to official climate plans, our COP26 Live Blog gives you everything you need to know about each day at the Summit.
View all of edie’s COP26 content here.
Net-Zero November: Join the conversation during edie’s mega month of content and events
With critical negotiations at COP26 underway, the award-winning edie content has launched Net-Zero November – an entire month’s worth of digital content and live events, all dedicated to accelerating the race to a more resilient, zero-carbon economy.
Brought to you in association with edie’s headline partner EDF, Net-Zero November will offer edie readers an array of net-zero-themed exclusive interviews, downloadable guides, reader blogs, virtual events and podcasts throughout the month.
Click here for a full run-down of the agenda and information on how you can get involved.
© Faversham House Ltd 2023 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.
Please login or Register to leave a comment.