By Richard McNally, Global Leader on Sustainable Forest & Landscape Management; Sustainable Finance; & Climate Change –
The next installment of the UN climate talks, COP26, will be held in Glasgow, UK, from 31st October-12thNovember, following a year’s delay. It is undoubtedly the most important climate meeting since the Paris Agreement, signed in 2015.
Several defining issues are on the table and must be agreed, or at least significant progress must be made. Countries, or Parties in UNFCCC parlor:
- need to submit their revised, more ambitious, Nationally Determined Contributions (NDC);
- they need to finalize the rulebook which governs the implementation of the Paris Agreement, most critically Article 6; and
- they are expected to make more ambitious commitments on climate finance.
In this blog we examine the last of these issues: climate finance.
As with most decisions related to the UNFCCC, things are far from clear and dependent on outcomes in other parts of the climate agreement.
Let’s start with what we know.