Welcome to Raisina House!
The 26th Session of the Conference of Parties (COP 26) of the UNFCCC is being hosted by the United Kingdom with Italy at Glasgow, Scotland. This Summit will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. Extreme weather events linked to climate change - including heat waves, floods, and forest fires - are intensifying. The past decade was the warmest on record, and governments agree urgent collective action is needed.
The COVID 19 Pandemic has brought devastation to millions around the World, disrupting many parts of the global economy. Governments have stepped up to protect lives and livelihoods. But climate change has continued, and it ultimately threatens life on earth. As countries begin to recover from the Coronavirus pandemic, we must take the historic opportunity to tackle climate change at the same time, to build back better, and greener.
Countries need to deliver green recoveries across the globe & this will, in turn, bring in good jobs, trillions in investment, and ground-breaking new technology. And we must try to keep the temperature of the planet under control, limiting its increase to 1.5 degrees. Science dictates that by the second half of the century, we should be producing less carbon than we take out of the atmosphere. This is what reaching ‘net zero’ means. The journey is already underway. Despite the pandemic, the direction of travel is changing. Around 70% of the world economy is now covered by net-zero targets, up from less than 30%.. The world is moving towards a low-carbon future. Clean energy, like wind and solar, is now the cheapest source of electricity in most countries; many of the world’s carmakers are shifting to make only electric and hybrid models; countries around the world are starting important work to protect and restore nature; cities, states, and regions across the world are also committing to reduce emissions to zero.
Hence, during this Session of Capital Colloquium, we will discuss: