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Today’s blog is closed See you tomorrow
Today’s live blog concludes as former US President Barack Obama continues to address the delegation at the COP26 summit.
See you tomorrow and thank you for following our updates.
— Holly Eliyat
9:15 am: Former US President Obama says ‘time is really running out’ to tackle climate change
Former US President Barack Obama addresses Day 9 of COP26 in Glasgow, Scotland, November 7, 2021.
Ian Forsythe | Getty Images News | Getty Images
Former US President Barack Obama told delegates at the COP26 summit that “time is really running out when it comes to climate.”
“We have not done enough to address this crisis. We need to do more,” he said. said to be inadequate.
Still, he said there had been “meaningful progress” since the 2015 Paris Agreement, but referred to his predecessor Donald Trump’s decision (in 2017) to withdraw from the agreement, saying, “I’m not really sure about it. I wasn’t satisfied.
“Despite four years of active hostility to climate science,” he said, Americans and the rest of the world are sticking to the deal. The United States needs to take the lead, we have a big responsibility and we still have a lot to do,” he added.
— Holly Eliyat
08:05 am: Former President Obama calls for action to help island nations
Former US President Barack Obama (R) waves as he walks with Presidential Special Envoy for Climate John Kerry between sessions at the COP26 United Nations Climate Change Conference in Glasgow on November 8, 2021.
Paul Ellis | AFP | Getty Images
Former US President Barack Obama has called on the COP26 delegation to address the risks facing island nations from rising sea levels.
“I was shaped by my experience growing up in Hawaii,” Obama said, according to Reuters, adding, “We must act now to help adapt and resilience.”
Calling the island nations the “canary in the coal mine,” Obama said wealthy nations “are irresponsible and less capable, but they can work with, help and support those who are more vulnerable to this imminent crisis.” We have the additional burden of making sure that we are there,” the Guardian reported.
President Obama will address the summit at 2:00 pm local time (9:00 am ET).
— Holly Eliyat
07:40a.m.: More to be done at COP26, UK government spokesman says
A spokesman for Prime Minister Boris Johnson said many difficult negotiations still have to be done at the UN climate summit in Glasgow this week.
“Last week saw significant progress on some ambitious commitments…that helped us move forward,” a spokesperson said, according to Reuters.
With “so many difficult negotiations” taking place this week, he added, “there is so much work to do.”
— Holly Eliyat
06:25a.m.: The banking sector can play a ‘massive’ role in tackling climate change
Evening light on a skyline of buildings along the River Thames in London, UK on April 4, 2020.
Barry Lewis | By Photo | Getty Images
Marisa Buchanan, global head of sustainability at JPMorgan Chase, told CNBC at COP26 that the banking sector has a key role to play in tackling climate change.
“The banking sector will play a major role. This is about the need to mobilize capital to invest in the development and commercialization of the full range of technologies that play a key role in helping the world. We meet growing energy demand while reducing our carbon footprint to meet that energy demand,” she said.
Greater government policy action is needed, she said, adding: “It’s actually a very important role in sending the long-term signal that banks and the financial sector need to mobilize their capital. will fulfill,” he said.
— Holly Eliyat
4:53 am: Is COP26 itself guilty of ‘greenwashing’?
Climate activists unveil a 2-meter-tall, 1-ton heart-shaped ice sculpture on the banks of the River Clyde overlooking the COP26 venue on November 7, 2021 in Glasgow, Scotland.
Ian Forsythe | Getty Images News | Getty Images
Recently, more and more companies have been accused of “greenwashing”. Namely, they have been accused of making false claims about the sustainability of their products and business practices.
Summits like COP26 aim to draw attention to climate change, and much of the discussion in Glasgow aims at what businesses can do to change their practices, but who Not everyone is impressed.
Nino Tronchetti Provera, founder of Ambienta, an investment-focused asset manager focused on environmental sustainability, attends COP climate summit “because there is no more to come” He told CNBC he wouldn’t.
“Half of what is being discussed in Glasgow is against the environment because it is heavily influenced by lobbying,” he said. “A lot of what politicians are discussing today is against the planet, not for it.”
— Holly Eliyat
4:33 am: Attendees at COP26 summit include hundreds of fossil fuel lobbyists, human rights group says
The human rights group Global Witness released a report that said the COP26 summit had granted access to “at least 503 fossil fuel lobbyists affiliated with the world’s largest polluting oil and gas giants.”
A data analysis of the United Nations provisional attendee list, conducted by Corporate Accountability, Corporate Europe Observatory, Glasgow Calls Out Polluters, and Global Witness, found that “business officials involved in the continued burning of fossil fuels enjoys access to It’s an important meeting,” Global Witness said on Monday.
“Researchers counted the number of individuals either directly affiliated with fossil fuel companies such as Shell, Gazprom or BP or participating as members of delegations acting on behalf of the fossil fuel industry.”
According to Global Witness, if the fossil fuel lobby is a country delegation to the COP, it will be the largest with a delegation of 503 people, 20 more than the largest country delegation.
— Holly Eliyat
3:40 a.m.: Business Leaders Say Business Change Won’t Happen Immediately, But ‘It Must Start Now’
As the COP26 summit continues in Glasgow, 95 major UK companies have pledged to reverse the negative environmental impact caused by their operations by the end of the decade.
The move is part of the Sustainable Business Council’s Get Nature Positive campaign, which has also been signed by Barclays, GSK, Unilever and others.
Liv Garfield, chief executive of water service company Severn Trent and chief executive of the Sustainable Business Council, told CNBC it’s time for a change.
“For example, think of grocery retail and imagine all the changes someone like Sainsbury would have to make to be able to halve the environmental impact of the average shopping basket by 2030. If you think about it, there are trillions of different projects that they have to work on.It can’t be done right away because it’s hard, but it has to start now,” Garfield told CNBC on Monday.
“The best companies are proud of their commitment to the environment,” she said, calling for more companies to join the council.
— Holly Eliyat
2:06 am: Week 2 of COP26 “Where Rubber Hits the Road”
UK Prime Minister Boris Johnson and UN Secretary-General António Guterres arrive on Day 2 of COP26 on November 1, 2021 to greet US President Joe Biden.
Christopher Furlong | Getty Images News | Getty Images
To prevent the worst from the climate crisis, delegations need to devise a plan to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels, but there are no clear signs that this will happen yet. .
Ministers arriving in Glasgow this week will work to resolve issues and end talks with sufficient agreement to avoid climate impacts becoming more frequent and worse over time. COP26 President Alok Sharma describes this as “the moment rubber hits the road”.
In the first week of the UN-brokered talks, countries committed to ending and reversing deforestation, phasing out coal, and reducing methane emissions by 30% by 2030. Pledges to change raged.
Business leaders and financial institutions have pledged to increase investment in ‘net-zero projects’. However, this has since been criticized as being “missing the mark” with respect to fossil fuels.
— Sam Meredith
1:58 am: What are your plans for Monday?
Monday’s main program focuses on the loss and damage caused by global warming and how countries can adapt to climate change.
Delegates meeting at COP26 on Monday will hear presentations from countries on the front lines of the climate crisis, including indigenous communities.
Former US President Barack Obama speaks at the Climate Summit in the afternoon session.
There will be a conference on the role of the fashion industry in reducing global emissions, as well as a meeting of the G-77 and China (a group of 134 developing countries and China).
— Chloe Taylor
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