Glasgow COP26: Financiers with $130-trillion purse make climate vows
Banks, insurers and investors with $130 trillion at their disposal pledged on Wednesday to put limiting climate change at the centre of their work, and got support in the form of efforts to put green investing on a firm footing.
An announcement made at the COP26 UN climate conference in Scotland commits its over 450 signatories, who account for around 40 per cent of the world’s capital, to assuming a “fair share” of the effort to wean the world off fossil fuels.
A main aim of the COP26 talks is to secure enough national promises to cut greenhouse gas emissions — mostly from burning coal, oil and gas — to keep the rise in the global temperature to 1.5 degrees Celsius. But how exactly to meet those pledges, particularly in the developing world — is still being worked out.
