Breakdown: COP’s bare minimum is still a ratchet

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COP26 did not outline a clear path to halve emissions by 2030 or secure much more cash for developing states. Still, the final agreement, and a U.S.-China pact, make it harder for companies to delay on climate change, writes gfhay

would concede it is full of holes. The question for investors, though, is whether or not corporate greenwashers and climate change laggards will be emboldened by Glasgow’s shortcomings.

That didn’t happen. India did say its emissions would fall to net zero by 2070, but neither it nor China gave new absolute reduction targets for 2030. COP26 President Alok Sharma’s mantra has been to “keep 1.5 degrees alive”. But following Saturday’s last-minute watering-down of the text by India, Sharma was at one point moved to tears and said the target’s pulse was weak.

 

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