Nearly 200 nations reached an agreement at COP26. The pact keeps the goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels. It asks countries to come back next year with new updated plans. The pact states that the use of unabated coal should be phased down (as opposed to phased out) along with fossil fuel subsidies. The creation of a "Glasgow Loss and Damage Facility” for vulnerable nations was vetoed by developed countries. The pact includes language to double the proportion of climate finance going to adaption rather than emissions cutting for developing countries. The pact also allows unused carbon credits to only be used in meeting countries’ first NDC targets, not subsequent NDCs. It also agrees to fund the Santiago Network, which will connect vulnerable developing countries with those who can provide the technical assistance, knowledge and resources.

42 world leaders agreed to a UK-led plan to accelerate affordable and clean technology by 2030. The five goals of the Glasgow Breakthroughs deal with more than half of global emissions and aim to accelerate innovation and deployment of clean technologies in power, road transport, steel, hydrogen and agriculture by 2030. 1. Clean power as affordable 2. Zero emission vehicles as a new norbal. 3. Near zero steel a preferred choice. 4. Affordable renewable and low carby hydrogen 5. Climate smart, sustainable agriculture.

Cities consume 78% of the world’s energy and produce over 60% of greenhouse gas emissions – but account for less than 2% of the Earth’s surface.

Urban Climate Action Program. The UK pledged £27.5m for the new Urban Climate Action Programme (UCAP), funded through International Climate Finance to support cities across Africa, Asia and Latin America targeting net zero. The fund will help implement innovative climate action plans to become carbon neutral by 2050 and prepare low-carbon infrastructure projects. UCAP will help cities to implement projects like low-emission public transport systems, renewable energy generation, sustainable waste management, new climate-smart buildings codes and climate risk planning.

Cities. According to C40, 1,049 cities and local governments are now part of the UN's Race to Zero. 722 million people are covered by targets for net zero emissions by 2050. San Francisco today joins Los Angeles, Mexico City, Oslo and Budapest in committing to at least halve emissions from the initial construction of buildings by 2030 under CO40’s Clean Construction Declaration.

Buildings. 42 businesses announce signing the World Green Building Council’s updated commitment to drive operational emissions to net zero by 2030. It now addresses embodied emissions – from initial construction. $1.2 trillion in real estate assets under management is now committed to halving emissions by 2030, along with 20% of architects and engineers, hitting a Race to Zero breakthrough on the path to net zero before 2050.

Transportation is one of the largest sources of emissions worldwide. Road transport accounts for 10% it.

Zero Emission Vehicles. 30 countries and six of the world’s largest car manufacturers have signed up to the COP26 declaration to work towards 100% zero emission vehicle sales by 2035 in developed markets, and by 2040 globally. US, Germany and China have not signed up as of yet.

Aviaton. 18 nations, responsible for more than 40% of aviation emissions, signed a new declaration in support of emissions targets to align with 1.5C goals and with global net zero by 2050. In the private sector, US airlines and Amazon join to push sustainable aviation fuel (SAF) development and use, which only accounts 0.1% of jet fuel today.

Shipping routes. In the Clydebank Declaration, 19 countries pledge to establish green shipping ‘corridors’ between two or more ports, which will requre implementing new technologies.. The aim is to establish at least six routes by the mid 2020's.

Gender. 80% of people displaced by climate change are women and children, according to UNFCC.

Nations make pledges: Canada will ensure that 80% of its $5.3 billion climate investments over the next five years target gender equality. Germany announced a new Gender Strategy under its International Climate Initiative (IKI), Sweden introduced new measures to embed gender equality within all of their climate action, The US committed $14 million for gender-responsive climate programming, The UK sets £165 million to address the dual challenges of gender inequality and climate change. Bolivia committed to promote the leadership of women and girls, especially indigenous, Afro-Bolivian, community and rural women, through their participation in the design of sustainable development projects. 

Cleantech. China, India, the UK, US and EU are among 23 governments that announced new plans to accelerate investment in low carbon technologies through Mission Innovation.

Construction. Industrial Deep Decarbonisation Initiative (IDDI): UK, US, UAE, India Germany and Canada committed to disclose carbon in major public construction projects by 2025. This will provide a baseline for developing a 2030 reduction target for embodies carbon, on the road to net-zero by 2050. In private sector, 15 large businesses are preparing to launch a ConcreteZero buyers club, which will signal demand for net-zero concrete to producers. The initiative will be modelled on SteelZero from The Climate Group, which convenes steel buyers in committing to ensuring that 50% or more of the steel they buy from 2030 is certified as net-zero.

Hydrogen. 28 global companies spanning the mining, manufacturing and financial sectors has pledged to grow both the demand and supply of green hydrogen. 

Labor. Just Skills Hub will support policymakers and businesses to develop and implement the skills plans needed to enable the low-carbon transition in high-emitting sectors.

AI. 18 governments and the EU through The Global Partnership on Artificial Intelligence (AI) published a report outlining how governments can support AI in delivering their net-zero transitions.

Adaptation, Loss and Damage. $100 billion in climate financing confirmed for Least Developed Countries Group, African nations will be asking for shortfalls of past years commitment not being met.

Adaptation Strategies. Global leaders commit to a shift towards locally-led adaptation through over 70 endorsements to the Principles for Locally Led Adaptation and over $450 million mobilized for initiatives and programs enhancing locally-led approaches (including LIFE-AR, FLLoCA, CRPP and the Taskforce on Access to Climate Finance).

Resilience. The UN's Race to Resilience campaign launched a new framework to bring together initiatives that strengthen the urban, coastal and rural resilience of 2 billion people worldwide. A Global Resilience Index is also to be launched to improve how investors measure the resiliency of nations, corporates and their respective supply chains. 

An Adaptation Research Alliance (ARA) has launched with 90 governments, research institutions, community groups and academics in a drive to increase the resilience of communities most affected by climate change.

Funding. Australia, New Zealand, Italy and the African Development Bank (AfDB) have committed to a balanced approach to climate finance and joined the Champions Group on Adaptation Finance.

$232 million has been committed to the Adaptation Fund, the highest single mobilization to the Fund, by the UK, USA, Canada, Sweden, Finland, Ireland, Germany, Norway, Italy, Qatar, Spain, Switzerland, Quebec and Flanders.

Adaptation Plans. 88 countries are now covered by Adaptation Communications or National Adaptation Plans (NAPs) to increase preparedness to climate risks, with 38 published in the last year.

UN updates Fashion Charter for Climate Action. 130 signatory brands will cut emissions by 50% by 2030 and net-zero by 2050 emissions goals. New requirements include procuring 100% renewable electricity and delivering coal-free supply chains by 2030. The renewed Charter also calls for businesses to create incentive mechanisms for supplier engagement on the low-carbon transition.

Healthcare emissions. Separately, 47 countries that represent more than one-third of the world's healthcare emissions have committed to transforming healthcare systems so that they are climate-resilient and low-carbon. Participants in this pledge include Malawi, Spain, Morocco and the US.

25% of annual global emissions is derived from land use while 75% of deforestation to date is from the agri-food system. 1/3 of all food is wasted.

Agriculture. 45 nations have signed on to a new Policy Action Agenda. Will create a system that is low carbon, consumess less water, chemicals waste and is deforestation free while supporting farmers.

Innovation. 150 organizations target $4 billion in public investment for climate resilient crops, digital technologies that improve soil quality.

Forests. Over 100 nations commit to ending deforestation and land degradation by 2030, which covers 91% of the world forests. Commitment also made to protecting indigineous communities.

In the private sector, some companies are making a joint commitment to be "nature positive" in which targets will be verifed by SBT for Nature Initiative. 33 major financial institutions with $8.7 trillion in assets have committed to stop financing deforestatio by 2025. Risk exposure assessments (ie., beef, paper & pulp, etc.) should be completed by 2022.

Youth & Public Empowerment. 23 countries made national climate education pledges including net zero schools and putting climate at heart of curriculum.

Coal. 23 countries made new commitments to phase out coal power. China, India and the US did not sign on to the Global Coal to Clean Power Transition Statement. 

Climate Adaptation. Governments from wealthy nations in the 2015 Paris Accord reaffirmed their commitment to contribute $100 billion a year to poorer nations to move away from fossil fuel and adapt to climate change-fueled disasters. Many of the world's least developed and small island countries are pushing for "loss and damage" financing (climate reparations), saying this should come on top of the $100 billion a year in climate adaptation and mitigation financing.

Finance. The Glasgow Financial Alliance for Net-Zero (GFANZ) unites nearly 500 global financial services firms to transition to net-zero portfolios by 2050, representing more than $130 trillion in assets (40% of the world's total financial assets).

Verification/Standards. UK Government will develop a science-based "gold standard" verification scheme. The World Business Council, representing 200 companies, wants UK to mandate net zero transition plans for all large businesses by 2025. The IFRS Foundation Trusteeds has launched the International Sustainability Standards Board (ISSB) to create a global baseline for corporate disclosures. It will complete a consolidation of the Climate Disclosure Standards Board (of CDP) and the Value Reporting Foundation (of Integrate Reporting Framework and SASB Standards) by June 2022.

More than 100 world leaders including Brazil's signed the ’Glasgow Leaders’ Declaration on Forest and Land Use’, agreed to a deal to ‘end deforestation’ by 2030.

US. President Biden agreed to cut global methane emissions by 30% by 2030. Part of the ’Global Methane Pledge’, the agreement has been signed by over 100 countries representing 70% of the global economy.

The US re-joined the ‘High Ambition Coalition’, a group of developed and developing countries that ensured the 1.5C goal was a major focus of the Paris Agreement.

US, UK, India, China and others agree to participant in the ‘Glasgow Breakthrough Agenda’, a commitment to join forces to accelerate the development and deployment of the clean technologies and sustainable solutions – such as clean electricity and electric vehicles - required for each country to meet its Paris Agreement goals.

A new energy partnership between the UK, EU, and US was created with South Africa. The ’Just Energy Transition Partnership’ is a long-term project to support South Africa’s pathway to low emissions and climate resilient development, in addition to accelerating decarbonization of the electricity system and shifting away from fossil fuel use.

African countries also committed to establishing a green economy after agreeing to spend at least $6 billion from their tax revenues to help adapt to the effects of climate change, in addition to calling on the wealthier developed countries to provide $2.5 billion per year for the next five years.