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, Tuesday, November 9, discussion at the summit followed themes of gender and science & innovation. Talks explored how female voices can be elevated in climate action, as women are disproportionately affected by climate change globally. Science and innovation were discussed as avenues for delivering climate solutions. As the second day of the second week of the summit comes to a close, we outline four industry highlights.
French Official Claims World Needs More Nuclear Energy
The president of France, Emannuel Macron, announced the country’s plan to build small nuclear reactors in October as part of a five-year investment plan to re-industrialize France’s economy. Macron and other government officials like secretary of state for the digital economy, Cedric O, believe that nuclear energy is a rational choice compared to other alternatives. Cedric O told CNBC today at COP26 that the International Energy Agency and additional countries are also considering nuclear energy.
“If you want to reduce your carbon emissions you need to develop renewable energies … but you [also] need an energy which is not dependent on the level of sun or the speed of the wind, you need an energy that is constant so you have a choice between coal, gas and nuclear.”– Cedric O
Ocasio-Cortez Says US is Back With a New Approach to Climate Policy
Congresswoman Alexandria Ocasio-Cortez adressed a panel in the US Climate Action Center today stating that the US has a “more just” approach to addressing climate change as compared to past efforts. Ocasio-Cortez seeks to reclaim leadership in climate action matters and pointed to the pending Build Back Better bill as a way to do so. The Build Back Better build is a comprehensive social and climate spending bill that is expected to pass next week in congress, pending support from moderate Democrats in both the House of Representatives and the Senate.
CEO of the London Stock Exchange Discusses the Future of Green Market Regulation
With the surge of recent ESG investments, it has become clear that this is market in need of further regulation. CEO of the London Stock Exchange, Julia Hoggett, says that there needs to be a “public disclosure regime” that allows people to have the tools that they need to make the investments necessary to make a transition to a low carbon economy.
Global Warming Projected to Hit 2.4°C by End of Century
Independent research group, Climate Action Tracker (CAT), warns that global warming is projected to hit 2.4 °C by the end of the century. This is despite current 2030 targets of below 2.0°C or as close to 1.5°C as possible. CAT punished a report today midway through COP26 events, calling 2030 targets “totally inadequate.” Meanwhile, science and technology have been discussed today as avenues to achieve the 1.5°C goal. UK government’s chief scientific advisor, Patrick Vallance, claims that we have many technologies needed to tackle the climate crisis, but that they are too expensive, inconvenient and inapplicable at the moment.
Looking Forward to Tomorrow
Tomorrow, Wednesday, November 10, discussions will be focused on a transport theme with a goal of driving the global transition to zero emission transport. 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 earlier this week on Monday or from last weed on Tuesday, Wednesday, Thursday or Friday of COP26.