It’s almost four months since the UN’s climate change conference took place in Glasgow. COP26 was headlined as a pivotal moment in the fight against global warming. But how much was achieved in Glasgow, and how much more action is needed if we’re to limit destructive levels of global temperature rises?
The legacies of COP26 were the focal point of a webinar last month, hosted by Strathclyde University’s Fraser of Allander Institute (FAI). Mairi Spowage, the recently appointed Director of the FAI, welcomed Chris Stark, CEO of the Climate Change Committee and Steve Williams, senior partner at Deloitte Scotland, to consider how the outcomes from COP26 might influence government policy and business practice.
COP26 report card: a mixed picture
Chris Stark began with an upbeat assessment of COP26, noting that while it didn’t deliver everything hoped for, the inclusion of voices from civil society, business and finance added weight to the urgency of tackling climate change. Chris expects those voices to be influential in pushing governments to keep their promises on tackling climate change. He also welcomed the sectoral agreements announced in Glasgow on reducing the use of coal, cutting methane emissions and protecting forests.
That said, Chris warned that the agreements in Glasgow will not be enough to prevent the Earth’s average temperature exceeding a rise of 1.5 degrees C – the tipping point where many climate impacts go from destructive to catastrophic:
“The overall outcomes are still heading in the wrong direction. We went into the Paris COP in 2015 facing 3.6 degrees of warming. If we add up all the current policies that we see globally, we will leave Glasgow facing something like 2.7 degrees of warming.”
All of which heightens the importance of delivering every one of the emissions reduction targets which governments and businesses have set for 2030. Chris also stressed that some countries need to raise their levels of ambition, notably Australia, Brazil, Mexico, Indonesia, China and Russia.
Business: the journey to tackling climate change
Business has a vital role to play in tackling global warming, and Steve Williams outlined where the corporate sector currently finds itself. Most of Deloitte’s clients have targets and governance in place to reduce their carbon footprints, although not all have a credible road map to achieving decarbonisation.
Steve went on to highlight four areas that are being worked on.
Many companies are trying to understand the scope 1, 2 and 3 carbon emissions targets, as well as setting science-based emissions targets, and investing in systems to obtain the right data to make sure they can stand behind the numbers that they publicise.
With regard to business operations, companies are attempting to truly understand their reliance on fossil fuels, switching to renewables, and exploring what other clean technologies are available. In addition, business is trying to have a clearer view of the vulnerabilities around supply chains that could result from climate change.
A third focal point for business is understanding investors’ expectations. Lenders are demanding more of companies in terms of decarbonisation, and they want to know about their roadmaps to sustainability.
The fourth area is one which Steve saw for himself during COP26. Businesses are starting to talk more about biodiversity and the health of our oceans. As a result, companies are moving towards ‘nature-friendly’ targets beyond existing decarbonisation goals.
Delivering on the promises: UK and Scottish Governments
As Chris Stark explained, the Climate Change Committee (CCC) advises the UK and devolved governments on emissions targets and reports to Parliament on progress made in reducing greenhouse gas emissions. In line with CCC advice, last year the UK Government set in law the world’s most ambitious climate change target, aiming to cut emissions by 78% by 2035 compared to 1990 levels.
Meanwhile, the Scottish Government’s net zero emissions target date of 2045 is ahead of many other countries, and it has also set a very ambitious target of a 75% reduction in emissions by 2030, relative to 1990 levels.
Chris Stark stressed that both the UK and Scotland are presenting good examples to the rest of the world in addressing climate change. But he also highlighted the need to move even faster in the next decade. Having closed its major coal fired power stations, the major challenge for the UK is decarbonising buildings. Chris noted that energy efficiency strategies, covering measures like insulation and double glazing of buildings, are important, but…
“…the big gains in terms of emissions come from decarbonising heat supply to those buildings. This is a big cost, but in the long run it is worth it. My message here is we’ve got to get real about this. We have lots of ways in which we could do it, but until you start to knuckle down, particularly in making plans for the cities, where the big win is, it’s not going to happen.”
Business: decarbonising in a post-Covid world
Steve Williams suggested that the restrictions imposed to prevent the spread of COVID-19 have made it easier for some businesses to meet their decarbonisation targets. With commuting and business travel at significantly lower levels during the height of the pandemic, many companies’ emissions fell dramatically. As Steve acknowledged, the question now is how to make sure that these gains are not lost in the longer term. Examples of good practice include committing to less business travel in future, electrifying car fleets and appointing corporate climate champions.
Chris added that the CCC, having longstanding experience of advising government on policy, is now increasingly providing advice to businesses on tackling climate change. Chris highlighted some of the issues business should be considering:
“Our primary advice to the business community is just start measuring. Think properly about the way in which you impact through emissions , and how exposed you are to the climate risks. And then think about the strategies you can use to push the national mission to net zero. As businesses do this, the policy environment should respond and go more quickly”
Final thoughts
Just four months on from COP26, the world looks very different today. There are now concerns that economic pressures could cause governments to backslide on their climate change commitments, especially with a looming energy crisis threatening the cost of living. However, there have also been more positive developments.
Earlier this month, leaders from nearly 200 countries agreed to draw up a legally binding treaty on reducing plastic waste. This will not only have positive impacts on ocean and marine life; it will also make a difference on climate change. A 2019 study reported that the production and incineration of plastic produced more than 850 million tons of greenhouse gases – equivalent to 189 five-hundred-megawatt coal power plants.
The latest report from the International Panel on Climate Change has reiterated that global warming remains a threat to human wellbeing and the health of the planet. The report couldn’t be clearer about what’s at stake:
“Any further delay in concerted global action will miss a brief and rapidly closing window to secure a liveable future.”
You can watch a recording of the FAI webinar here
Photo by William Gibson on Unsplash
Further reading: more on tackling climate change from The Knowledge Exchange blog
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