COP26: Companies need certainty on climate progress with robust rules for the Global Stocktake

The We Mean Business Coalition asserts that while COP26 has seen increased ambition, current national pledges and methane commitments may only limit warming to 1.8°C. The coalition emphasizes the need for clear reporting frameworks and a data-driven Global Stocktake in 2023 to track progress and inform future national targets. It highlights that corporate action, such as the 25% emissions reduction by 338 companies with science-based targets, can provide governments with the confidence to accelerate decarbonization.

• Current emissions pledges from nations and commitments to tackle methane are insufficient to meet the 1.5°C goal, potentially limiting global warming to 1.8°C instead.
• The agreement by over 40 countries to end investment in new coal power generation is viewed as insufficient because it excludes several major coal-dependent economies and the phase-out dates (end of 2030s for major economies and 2040s for others) should be moved forward by 10 years.
• Significant emissions reductions by 2030 are possible if specific commitments are enforced: 3.5 Gt from ending deforestation and another 3.5 Gt from stopping new coal-fired power plants and phasing out existing ones during the 2020s.
• The 2023 Global Stocktake is identified as a critical mechanism to measure progress and inform the next round of national climate targets, provided it is an evidence-based process that includes both government and business action.
• Corporate initiatives are demonstrating tangible progress, including a 25% emissions reduction since 2015 among 338 companies with science-based targets and over 330 TWh/yr of renewable electricity demand from RE100 members.

APA

Knight, R. (2021). COP26: Companies need certainty on climate progress with robust rules for the Global Stocktake. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/cop26-global-stocktake/

Chicago

Knight, Robin. COP26: Companies need certainty on climate progress with robust rules for the Global Stocktake. We Mean Business Coalition, 2021. https://www.wemeanbusinesscoalition.org/blog/cop26-global-stocktake/.

Wikipedia

{{cite press release |last1=Knight |first1=Robin |title=COP26: Companies need certainty on climate progress with robust rules for the Global Stocktake |publisher=We Mean Business Coalition |date=5 November 2021 |url=https://www.wemeanbusinesscoalition.org/blog/cop26-global-stocktake/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{knight2021cop26, author = {Knight, Robin}, title = {{COP26: Companies need certainty on climate progress with robust rules for the Global Stocktake}}, publisher = {We Mean Business Coalition}, year = {2021}, month = nov, url = {https://www.wemeanbusinesscoalition.org/blog/cop26-global-stocktake/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }