On Sunday, sovereign leaders and climate activists will gather in Glasgow for the UN’s 26th Conference of the Parties, or “COP26”. The nearly two-week long event will seek to meaningfully advance climate discussions and set the world on track to reduce global carbon emissions in line with the Paris Agreement. In what many have referred to as a “make or break” event for the world’s climate transition, COP26 will likely center around carbon pricing, global fiscal policy support, regulatory progress, and climate injustice. Despite the extensive media attention we expect this event to attract, broad-based progress and resultant near-term market reactions will likely be muted. Governments and corporations will continue to set emissions reduction targets, but these commitments are likely to remain vague, lacking accountability and adequate financing details. We highlight these expectations and more in our latest ESG primer, “Preparing for COP26”.
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