Climate Ambition Summit: collaboration on carbon markets and net zero delivery key to success of COP26

The Aldersgate Group welcomes the leadership shown by the UK Government at the Climate Ambition Summit today and the priorities that it outlined for COP26. The Group argued that pressing ahead with a net zero delivery plan for the UK and encouraging greater international collaboration around carbon markets, green economic recovery, and net zero delivery would all increase the chances of success at COP26.

Nick Molho, Executive Director at the Aldersgate Group, said: “The UK Government has made significant progress ahead of COP26 by building an international coalition of the willing at today’s summit. Continued efforts in this area will be vital to deliver the increase in global emission reduction targets that climate science is urgently calling for.

The priority themes chosen for the summit – ranging from energy transitions to green finance and nature-based solutions – all have the potential to deliver global commitments in important areas where accelerated progress is needed. Particular focus should also be paid to delivering progress on carbon markets, and in particular the mechanisms of Article 6 of the Paris Agreement, as these will play a central role in helping countries deliver on their emission reduction commitments.”

Nick Molho added: “Having shown leadership through its net zero target and its increased nationally determined contribution for 2030, the UK can help maximise its influence at the summit by adopting the recent recommendations from the Climate Change Committee for the sixth carbon budget and putting in place a comprehensive net zero delivery plan ahead of the COP [1]. With the UK also hosting the G7 summit in 2021, the Government will have a highly strategic and influential role to play in the year ahead and could increase the chances of success at COP26 by encouraging international collaboration on green economic recovery and net zero delivery plan [2].”