UN Climate Change Conference
Summary
Notes from Glasgow, Wednesday November 3, 2021
- Finance Ministers gather in Glasgow to discuss mobilising funding for rapid, large-scale climate action
- Discussions follow new pledges of public climate funding from developed nations at COP26 World Leaders Summit, including significant pledges for climate adaptation
- Finance commitments for climate mitigation led by new announcement at Leaders Summit of $8.5 billion Just Energy Transition to help South Africa move to clean energy
- UK Presidency welcomes alignment of $130 trillion of private finance to science-based net zero targets and near term milestones, through the Glasgow Financial Alliance for Net Zero.
Finance Ministers, International Finance Institutions and the financial sector are meeting at COP26 today to get global finance flowing for climate action.
Mobilising finance is critical if we are to deliver the urgent action we need to limit global temperature rises to 1.5C. Trillions of dollars of additional investment a year are needed to secure a low-carbon future and support countries already living with the devastating impacts of climate change.
COP26 President Alok Sharma said:
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