Asteria's COP 26 Gazette #1

November 4, 2021

Introduction to COP26

The UK is hosting in Glasgow, in partnership with Italy, from 31 October until 12 November, the Conference of the Parties #26 (COP26) to review Paris Agreement rules signed in 2015 at the COP21.

The climate emergency has never been so present. The last report from the IPCC[1] this August defined the situation as “code red for humanity”. Indeed, all lights on the dashboard are red and what is at stake is the humanity's last chance to save the planet or our civilization. Hence, current CO2 emissions still far exceed what it takes to reverse the trend.

The plan is clear

The International Energy Agency’s road map to net zero entails an immediate end to investment in new oil and gas exploration and creates stranding assets for the sake of burning oil and gas. We need to develop and scale low carbon alternatives sooner than later.

As an impact investor engaged and committed to participate to net zero by 2050, we will provide you a series of insights on what we expect from the meetings in Glasgow, to call it a good or a bad COP.

Required collaboration

In order to keep the 1.5°C target alive, we need collective action, co-operation and as much multilateralism as possible, particularly when it comes to giving carbon a price.

Strong political action

We clearly need more ambition than the recent G20 agreement which drops        subsidies for the development of new coal-fired power plants, but without any defined plans nor deadline to decarbonise our economies.

Vulnerable communities
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While economies are shifting to sustainable production, social inclusion and decent work conditions will be necessary for a just transition. Furthermore, special care must be given to hardly-hit communities, to support their adaptation plan and help them protect their ecosystems.

Mobilize financial flows
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The investment industry has a role to play in the shift to a low carbon economy. We need to allocate capital to mitigation and adaptation solutions for the real world and at scale.

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