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Key Developments and Takeaways for Business and Industry From Climate Conference of the Parties 26 | Insights

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COP26 — the 26th United Nations (UN) Climate Conference of the Parties — concluded last Saturday in Glasgow with a suite of new initiatives. The centrepiece is the Glasgow Climate Pact, whereby all participating countries agree to pursue efforts to keep global warming to 1.5°C and to accelerate climate action. In addition, smaller groups of countries, together with certain cities and states, and sometimes private stakeholders, have signed up to sector-specific initiatives. Private stakeholders also launched their own initiatives. The scope and pace of the initiatives is unprecedented, including sectoral action on agriculture, aviation, autos, finance, and energy (see our summary here). As with any international arrangements, a key question will be how and when the many commitments will be implemented.

Stakeholders should now expect a plethora of new national regulations, and shifting market dynamics, that spell major…

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