COP26 is a two-week United Nations climate summit held in Glasgow, Scotland, where world leaders are gathering to discuss climate change and efforts to limit rising global temperature. Today, Monday, November 8, marks the beginning of the second and final week of COP26. Today summit discussions centered around adaptation to and addressing of the loss and damage caused by climate change. As the seventh day of the conference comes to a close in the UK, we outline four industry highlights.
503 Fossil Fuel Lobbyists Among COP26 Attendees
Thanks to a report released by Global Witness, a human rights group, it has become apparent that at least 503 fossil fuel lobbyists are among the attendees at COP26. These lobbyists are either directly affiliated with fossil fuel corporations and some of the world’s largest polluters like BP, Gazprom or Shell, or are members of delegations that act on behalf of the fossil fuel industry. Either way, these attendees have a vested interest in the continued burning of fossil fuels. Global witnesses also noted that if the fossil fuel lobbyists were a country delegation at the conference, they would be the largest delegation with two dozen more members than the largest country delegation present.
Greenwashing at COP26?
For those familiar with the renewable energy industry, greenwashing is likely a familiar term. The buzzword refers to the process of misleading outsiders, whether they be customers or the general public, about the sustainability of a business or its products. Greta Thunberg accused COP26 itself of greenwashing last week during a “Youth Day” march at the conference. The young activist is not alone in her view of the conference. Nino Tronchetti Provera, founder of Ambieta, no longer attends the summit because he believes that it no longer achieves any results. Ambieta is an asset manager focused on investments driven by environmental sustainability.
“Half of what is being discussed in Glasgow is against the environment, because it’s very much affected by lobbying… A lot of the things politicians are discussing today are against the planet, they’re not in favor of the planet.”– Nino Tronchetti Provera
Obama Speaks at COP26
In his speech today former US President Barack Obama reinforced the idea that time is running out when it comes to the climate crisis. Obama stated both that individual countries and the UN collectively have fallen short in efforts to deal with this crisis. The former president’s speech also contained a plea for action in assisting island nations at risk from rising sea levels. These nations are “less responsible but more vulnerable” to the climate crisis, Obama stated.
Week 2 of COP26: “More Political, High-Level Phase”
When speaking about week two of the conference, COP26 President, Alok Sharma, stated that it was time for delegates to enter a more “political, high-level phase of the conference.” Sharma was referring to the coming negotiations regarding how nations will stay accountable and deliver on promises made at the summit. For example, how to report progress on reducing greenhouse gas emissions. This week will also see deliberations on how to finance the promises and pledges made throughout COP26, in addition to how to allocate funds dedicated to the climate crisis.
Looking Forward to Tomorrow
Tomorrow, Tuesday, November 9, marks the eight day of COP26. Themes for tomorrow are gender and science & innovation. We anticipate discussion surrounding gender equality in climate action and the role scientific innovations plays in delivering climate solutions. If you would like to stay updated on all COP26 and the latest energy news, click the button below and subscribe to our blog. Click to read updates from Tuesday, Wednesday, Thursday and Friday of the conference.