The Conference brought together parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. The key themes discussed were how the Governments can work together to:
- Secure global net zero by mid-century and keep 1.5 degrees within reach
- Adapt to protect communities and natural habitats
- Mobilise finance
- Deliver the challenges of the climate crisis
Pressure for rapid change
COP26 took place after a one-year delay due to Covid-19 and will be the first since the US re-joined the Paris Agreement. Businesses were mindful of the growing pressure for rapid change in response to global warming.
China and the US, jointly responsible for more than 40% of the world’s carbon emissions, have recently issued a joint statement on climate co-operation. China has pledged to deliver peak emissions by 2030 and carbon neutrality by 2060, while the US aims to reduced carbon emissions by 50-52% below 2005 levels by 2030.
And the UK target vows to slash emissions by 78% by 2035
The government will press ahead with its Net Zero strategy in the wake of COP26 and businesses can expect increasing pressure with a mixture of incentives and regulations. They need to step up and get ready, building on actions already taken, and develop coherent, long-term strategies for climate mitigation
COP26 will also accelerated and increased pressure from shareholders for action to mitigate climate threats to financial sustainability. At the same time, every business will need to consider and build on science-based climate commitments with clear actions that appeal to customers and clients.
Climate change is the public’s second greatest concern next to job losses according to the recent Edelman Trust Barometer, and customers will vote with their wallets and purses.
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But what does this all mean for you and your business?
At SaveMoneyCutCarbon we believe in making life easy for our customers and keeping ahead of the curve so you don’t have to. We know that COP26 will have long ranging implications and that the UK Government and that the UK Government will begin to set ambitious targets that businesses will need to adhere to. We can help you – book a free 30-minute call with one of our carbon mentors to discuss your ESG requirements.
How COP26 will reshape UK businesses
The UK set out the climate stall with the slogan: “Coal, cars, cash and trees” – ditching fossil fuels as energy sources, electric vehicle adoption, finance for global projects, reforestation. The Glasgow Climate Pact is the first climate deal to explicitly plan to reduce coal, the worst fossil fuel for greenhouse gases. But instead of “phase out”, the negotiators compromised on “phasing down” coal usage, after strong opposition from India and China.
What top 3 things can businesses do?
The UK government will press ahead with its Net Zero strategy and businesses can expect increasing pressure, with a mixture of incentives and regulations. It’s time to step up and get ready, building on actions already taken, and develop coherent, long-term strategies for climate mitigation.
Action 1: Measure and plan
Gather accurate and comprehensive data on aspects of energy and water use, and other climate impacts both directly (Scope 1) and indirectly (Scopes 2 & 3). This information will be the building block for an effective carbon roadmap. It’s no easy task but is absolutely necessary now. Companies will be looking at or revisiting LED lighting, water efficient technologies, heating efficiencies, insulation and better waste management, among other measures.
Action 2: Electrify your vehicle fleet
No new fossil-fuel cars will be sold after 2030, with all new HGVs following by 2040. Time to get ahead of the carbon game and switch company fleets to electric, while encouraging employees to switch wherever possible. Total cost of ownership of an electric vehicle is cheaper than petrol or diesel models now. On-site smart charging solutions are essential.
Action 3: Install your own renewable electricity or heating
Solar PV (electricity) and solar thermal (heating/hot water) are ideal ways to cut carbon footprint and reduce operating costs. Heat pumps (air or ground-source) will be a big part of the renewable energy mix for heat and water.
How can SaveMoneyCutCarbon help your business?
Last year SaveMoneyCutCarbon saved a collective 727 million litres of water and 27 million kilowatts of energy for its customers and, as result of this work, a carbon reduction equivalent to travelling 23,240,000 miles in an average petrol car.
We are the go-to people for businesses who want to begin their sustainability journey and achieve their carbon reduction goals. Our end-to-end sustainability solutions make it easy for you to journey towards net zero. No matter where your starting point is we guide you every step of the way with the help of our multi-award winning Decarbonisation & Retrofit team.
We deliver measured savings across energy, water & carbon. From developing your carbon roadmap, auditing your buildings, creating robust investment grade proposals and green financing right through to final fit.
The UN’s Sustainable Development Goals
