COP26: “Global plan for carbon pricing”

COP26 takes place this week in Glasgow and we asked industry experts what they were expecting from the event. Randeep Somel, manager of the M&G Climate Solutions Fund at M&G Investments.

The key to this COP summit will be for more countries following the lead of the US, UK and EU and setting intermediate carbon-reduction targets to help further the required investment. Developed countries also need to help emerging countries in their funding for the transition.

A success for the COP26 summit will be reaching the $100 billion target so poorer countries can also push on with their decarbonisation journey. A global plan for pricing carbon so its externalities are incorporated would be a watershed moment. The EU has begun a carbon trading scheme as have parts of China and the US. However, for this to be successful it will take global co-operation and COP26 is a good forum for these discussions to advance.

Finally, co-operation to tackle hard to abate emissions – i.e. those that cannot be electrified, will also be needed to reach net zero. Advancements in clean hydrogen and carbon capture and sequestration plans would be a significant development at COP26.

© 2021 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST