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ARTICLE · 03 NOVEMBER 2021

Financial Services Playbook To COP26 And Climate Finance

Borden Ladner Gervais LLP
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The 26th session of the United Nations' Climate Change Conference of the Parties (COP26) starts on October 31, 2021 in Glasgow, Scotland.

CanadaFinance and Banking
Kevin Lambie
Kevin Lambie
John Vellone
John Vellone
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The 26th session of the United Nations' Climate Change Conference of the Parties (COP26) starts on October 31, 2021 in Glasgow, Scotland.

What you need to know

  • UN delegates are convening for a two-week climate change summit, COP26, in the United Kingdom. Their focus will be on financing the global transition to a low-carbon economy;
  • The Organisation for Economic Co-operation and Development (OECD) estimated that developed nations delivered USD$79.8 billion in climate finance as of 2019. The finance delivery plan is three years and US$20 billion behind schedule at present.
  • According to the International Energy Agency (IEA) and International Monetary Fund (IMF), US$12 trillion to US$20 trillion in global investments is needed for the world to achieve net-zero carbon emissions by 2050; and

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