Global finance must deliver on Cop26 pledges

Private sector needs to translate ambitious promises into real action, finance experts say

Global business and finance must follow through on the flurry of net-zero and decarbonisation commitments made at last month’s Cop26 climate talks in order to dispel accusations that talk will not be matched by action, investment industry representatives say. The private sector made seemingly ambitious environmental pledges at Cop26, such as the $130tn in capital promised for the energy transition by the Glasgow Financial Alliance for Net Zero (Gfanz), a group of 450 financial institutions. But it faced scepticism from participants and activists. The corporate credibility gap was summed up by Swedish activist Greta Thunberg’s description of Cop26 as a “two-week long celebration of business a