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In November 2021, the UK will host the 26th Conference of the Parties, known as “COP26”, in Glasgow. US climate envoy John Kerry has described COP26 as the ‘last best chance’ for the world to come together to address climate change. In preparation for the conference, many countries including the UK and China have committed to net zero emissions. The challenge is how this shift to a net zero world can be achieved, and how it can be financed.
As the host of the COP26, the UK is interested in discussing opportunities to work with different countries to address climate change challenges. Finance is one of the five priorities for action ahead of COP26, and the City of London Corporation is supporting the UK government on this front ahead. We hope to host a Finance Pavilion in Glasgow itself for global financial institutions to demonstrate progress and commitment.
The financial services sector will play a critical role in financing the world’s net zero transition. The COP26 Finance Pavilion would showcase green finance innovation and progress, and to discuss how we maintain a high-level of ambition and action across the financial community.
This closed-door briefing is intended for the Corporation to brief Chinese financial institutions about the UK’s plan at the COP26 as well as the opportunities for participation at the City of London Corporation’s programme before and during COP26.