Tag: Alok Sharma

  • Alok Sharma – 2021 Speech on Functioning Voluntary Carbon Markets

    Alok Sharma – 2021 Speech on Functioning Voluntary Carbon Markets

    The speech made by Alok Sharma, the COP26 President, on 29 July 2021.

    Friends, the clock is ticking down on the climate crisis.

    We are running out of time to protect our precious planet from its worst effects, and to keep the goals of the Paris Agreement within reach.

    To keep 1.5 degrees alive, as the UK COP26 Presidency is determined to do, we must halve global emissions by 2030.

    And that means everyone playing their part – governments, investors, civil society and business.

    Alongside companies setting science-based targets to cut emissions to net zero, and building resilience, voluntary carbon markets can play a vital role, enabling us to do more.

    A voluntary carbon market with integrity can incentivise emissions reductions, and it can encourage technology innovation, and promote reforestation.

    And it can raise finance, fast, getting funds to emerging markets and to nature-based solutions, including forest protection.

    This of course is invaluable.

    Because without finance, the task ahead is near impossible.

    But integrity is the watch word.

    With less than a decade to keep 1.5 alive, there is simply no room for greenwashing.

    The era of carbon offsetting delaying meaningful climate action is over.

    We need transparent, reliable markets playing a role in robust emissions reduction strategies, supporting companies to deliver, providing confidence to consumers and investors, and keeping 1.5 degrees alive.

    That is why the work of the Voluntary Carbon Markets Integrity Initiative, working alongside private sector initiatives, is so important.

    And why the UK Government is proud to support it.

    But it will only succeed with your help.

    So I urge all governments, businesses, civil society organisations and Indigenous Peoples listening to engage as fully as possible with the VCMI’s work.

    Help to establish the principles necessary for transparent, functioning voluntary carbon markets, for it to be presented at COP26.

    Together, let’s build our resilience, drive down global emissions, and keep 1.5 degrees alive.

  • Alok Sharma – 2021 Update on the COP26

    Alok Sharma – 2021 Update on the COP26

    The comments made by Alok Sharma, the COP26 President, on 26 July 2021.

    Over the past two days, Ministers from more than 50 countries have gathered in London, as well as online.

    We have discussed the critical issues in the COP26 negotiations.

    As we have done so, heavy rains and flash floods have swept London.

    A sobering reminder of the urgency of our task.

    This was the first face-to-face meeting of this kind involving Ministers for more than eighteen months.

    It was a hugely refreshing experience, to be sitting across the table from one another.

    In person, there was a very positive atmosphere in every session.

    There was a sense of common endeavour and a shared desire to address the climate crisis before us.

    It was wonderful to see colleagues renew existing relationships, and build new ones.

    To sit around the table and have a discussion.

    And we all heard, loud and clear, the message from Ministers from climate vulnerable countries on the need for renewed urgency to tackle the climate crisis. And their lived experience of extreme climate change.

    We made progress over these two days. And there was a clear spirit of cooperation.

    However, the issues we have discussed are complex.

    There are still significant differences that persist.

    We have moved closer together. But still, on these vital issues we are not yet close enough.

    There is much more work to be done ahead of COP26 and in Glasgow itself.

    And we have agreed ways to keep the conversations going and drive action forward in the 97 days that remain to COP26.

    Over the past two days, we have reached a common understanding that COP26 needs to keep 1.5C within reach.

    This was also agreed by the G20 agreed to do last week.

    There was also a shared understanding from many that coal power and financing are not compatible with a 1.5 degree future.

    And so the UK Presidency will take forward work on how the Glasgow outcome will respond to any gap in ambition to keep 1.5C within reach.

    On adaptation, and adaptation finance particularly, we agreed we need a clear way forward

    And together, we have emphasised the need for COP26 to accelerate progress on the Global Goal on Adaptation.

    On finance, I have recently called for developed countries to publish a clear plan for how, together, we are going to deliver the $100 billion a year in international climate finance, which has been promised since 2009, between 2020 and 2025.

    I am delighted that Minister Flasbarth of Germany and Minister Wilkinson of Canada have agreed to lead this process. This will bring much needed transparency and predictability to developing countries and also reinforce the trust that needs to be maintained.

    On Article 6, I am grateful that Minister Fu of Singapore and Minister Rotevatn of Norway have agreed to continue their informal ministerial consultations.

    Additionally, Minister Mujawamariya of Rwanda, and Minister Sommaruga of Switzerland, will take forward my invitation to consult with ministers on Common Time Frames for NDCs.

    We will be initiating other ministerial consultations, including on transparency at the appropriate time, in the coming weeks.

    Of course our experts and negotiators will also continue their discussions.

    I hope that all this work will allow us to arrive in Glasgow in the best possible position to reach agreement.

    It is incumbent on every country to give their all to this process.

    There will be nowhere to hide at COP.

    Each of us will be in the spotlight.

    And we will only deliver by working together.

    I have said all along how important it is to have real in-person discussions on these difficult issues.

    We have gone to great lengths to make this Ministerial meeting happen and I’m grateful to everyone who joined us here and online.

    Now we must deliver.

    It is essential that, six years on from Paris, we agree these final elements of the Rulebook, that we forge a way forward on finance, adaptation and other critical issues.

    Ultimately, our response must reflect the urgency of the crisis we face.

    Between now and COP, we must, and we will, make every single day count.

  • Alok Sharma – 2021 Speech in Naples

    Alok Sharma – 2021 Speech in Naples

    The speech made by Alok Sharma, the President of the COP26, in Naples, Italy on 23 July 2021.

    Thank you to all our Italian colleagues for hosting us at this crucial G20 meeting.

    Friends, we are 100 days from COP26 where the global community expects world leaders to come together, and with one voice, demonstrate that we are living up to the expectations of the Paris Agreement, that we are doing all we can to limit global temperature rises to well below 2 degrees and closer to 1.5 degrees.

    This G20 ministerial is a vital step on the road to Glasgow.

    Countries in this room represent almost 80 percent of global emissions. And 85 percent of the global economy.

    And what we do, what we decide, and the level of ambition we demonstrate, matters.

    We hold in our hands the keys to our children’s future.

    And the choices we make, literally today, the choices we make, can unlock a healthier, safer, cleaner future, or they can drive the Paris Agreement goals further out of reach.

    And I think as friends we have to be frank: our decisions to date have harmed our children’s future.

    Since the Paris Agreement was put in place, global emissions have gone up, not down.

    Globally a million species face extinction because of human activity, because of our treatment of the planet.

    So my friends, be in no doubt, that what we decide today really matters.

    And the eyes of the world, the eyes of our children, are on us.

    Each of us need only look to our own doorsteps to recognise why, every fraction of a degree in global temperature rises makes a difference.

    Extreme weather is on the march across the world.

    Wildfires are raging across North America.

    Floods in China and across Europe, are leaving a trail of devastation in their wake.

    In the past few years, South Africa has faced municipal water supplies running dry.

    Super Cyclone Amphan unleashed destruction in Bangladesh and India.

    Last year Jakarta experienced the biggest rainfall since records began, causing 100,000 people to evacuate their homes.

    In Brazil we have seen forests on fire.

    Permafrost is melting in Russia.

    Dust storms, caused by desertification are costing Saudi Arabia some billions of dollars a year.

    And in the last few weeks alone, Turkey has recorded its highest ever temperature.

    Friends, people are dying now because we are losing control of climate change.

    People are losing their livelihoods, their homes.

    And their communities are being destroyed.

    So we have to ask ourselves, how did it come to this?

    We cannot say that we were not warned.

    We cannot say that scientists had not raised the red flag.

    We knew this was coming, and we know that without change, the situation will get far worse.

    Climate change is not a distant threat, one that we can try and fix in 2 years, 5 years or 10 years.

    We must collectively and decisively deal with this foe now, before it overwhelms us.

    Sadly, it is already starting to overwhelm the most climate vulnerable nations on earth.

    Small island developing states.

    Countries which have done the least to cause the impacts they are experiencing.

    Countries like Antigua and Barbuda, where I have seen the destructive power of hurricanes like Irma, which are increasing in ferocity and frequency.

    And which has scarred the country, causing death, which can never be overcome, and damage which, 4 years on, has not been repaired.

    Or mountain states like Nepal, where I have spoken to communities driven out of their villages, due to a combination of droughts and flooding from melting glaciers.

    Or countries in Africa, like Ethiopia, where crops have been destroyed because of plagues of locusts, spawned by a changing climate.

    Friends, these people are scared for their futures.

    Communities that have, through no action of their own, had their livelihoods and their basic sources of food stolen from them.

    So what do we need to do to play our part in defeating this threat?

    As the Paris Agreement, which we have all signed, says, we need to limit temperature rises to well below 2 degrees, closer to 1.5 degrees.

    This is the only way to protect our people and our economies.

    We can and must deliver on the 100 billion dollar commitment and increase action on adaptation.

    Together we need to make clear our commitment to keeping 1.5 alive, to take the steps required to decarbonise our economies, agreeing to a net zero world by the middle of this century, and enhancing our 2030 commitments to get us on this track.

    Friends, we all need to make these commitments.

    And we have to show that this isn’t just about our words, it’s about our actions.

    We know that unabated coal power is incompatible with a future that keeps 1.5 alive.

    So let us tell the world today, we will seek to end unabated coal both at home and overseas.

    We need to agree on these steps and make that clear through our statements today.

    Because we have a choice, we can open the door to a healthier, cleaner and safer future for our children, or we can miss our chance.

    Friends, I say to you, we must show the world that the G20 were not missing in action when it mattered most.

    That confronted with the greatest threat to our planet, we stood tall and we acted.

    That we took the decisions to secure our future and that of our children.

    So we can look them in the eye and say: today, when it mattered most, we picked the planet.

  • Alok Sharma – 2021 Speech to the CBI

    Alok Sharma – 2021 Speech to the CBI

    The speech made by Alok Sharma, the President of COP26, on 14 June 2021.

    It is a pleasure to join you this morning.

    Last time I addressed the CBI was as Business Secretary, last November.

    When I said that our recovery from Covid-19, would lay the foundations for future growth, and our vision for the United Kingdom.

    And where I asked you to help to rebuild on those foundations, and make that vision a reality.

    Today, as President Designate of the next UN climate conference, COP26, I echo that message.

    Because to tackle the climate crisis, and reach net zero, we need the innovation, the influence and the energy of the private sector on our side.

    And the task, friends, could not be more urgent.

    In 2015, the countries of the world signed the Paris Agreement, an international deal to tackle the threat of climate change.

    And they committed to try to limit the rise in global temperatures to two degrees, aiming for 1.5 degrees.

    But since that Agreement was signed, we have not done nearly enough.

    And now, to keep that 1.5 degree target in reach, we must halve emissions by 2030 and reach net zero by the middle of the century.

    Through our COP26 and G7 Presidencies, the UK is pushing for action around the world. To keep the 1.5 degree target alive.

    And we are seeing results.

    The entire G7 now has net zero targets, and short-term emissions reduction targets that put them on a path to get there.

    Here in the UK we have committed to slash our emissions by 78% by 2035, compared to 1990 levels.

    And we are determined to build back greener as we recover from the pandemic, with the Prime Minister’s plans for a Green Industrial Revolution.

    However, we can only meet our targets with business behind us.

    So I am urging all companies to sign up to the Race to Zero campaign, I want to thank Tony Danker for his support here.

    Race to Zero commits you to reach net zero by 2050 at the latest, and to short term targets, based on the science, to get there.

    This is not only good for the planet, it’s good for your bottom line.

    The direction of travel is clear: the world is going green, creating enormous opportunities for those on the front foot.

    While those that do not move fast enough will be left behind.

    Analysis suggests that, together, 215 of the world’s biggest companies have almost $1 trillion at risk from climate impacts.

    Yet, those same companies have the potential to gain double that amount from the move to green economies.

    Race to Zero membership is a clear statement that you see the possibilities presented by our green future, and that you are determined to take them.

    And it shows customers and investors that you are serious about climate action.

    So, to those of you that have not yet joined: I urge you to do so.

    And to those of you that have: thank you.

    And now please, work with your trade associations and with your supply chains to urge them to do the same.

    Make a commitment to moving to net zero, a condition for doing business with your suppliers.

    Work with them to help them to reduce their emissions.

    And help us to drive change in vital sectors, like energy, like transport and nature.

    These are priorities for our COP26 and G7 Presidencies.

    And, again, we are seeing progress.

    Last month the G7 Climate and Environment ministers meeting, which I co-chaired, committed to end all new direct government support for international coal power by the end of 2021.

    And to transition away from dirty coal domestically to an overwhelmingly decarbonised power system in the 2030s.

    But again, we need business behind us.

    So please, switch to clean power.

    Swap polluting vehicles for those that have zero emissions.

    And commit to removing deforestation from your supply chains.

    Together, let’s seize the opportunities to protect our planet, grow our economy and deliver green growth.

    Thank you.

  • Alok Sharma – 2021 Comments on Bangladesh and Climate Action

    Alok Sharma – 2021 Comments on Bangladesh and Climate Action

    The comments made by Alok Sharma, the President of COP26, on 4 June 2021.

    The next decade will be make, or break, for our planet, and effective global collaboration will be vital to tackling the pressing challenges the world faces. So I am delighted to have witnessed UK-Bangladeshi climate partnership in action, and heard such positive ambition from my Bangladeshi friends.

    I am inspired by the innovative work I have seen here to address some of the worst effects of climate change, and hope that Bangladesh will continue to lead by example ahead of COP26 which is our best hope of building a brighter future.

  • Alok Sharma – 2021 Speech on Green Investments for Pension Funds

    Alok Sharma – 2021 Speech on Green Investments for Pension Funds

    The speech made by Alok Sharma, the President of COP26, on 1 June 2021.

    Good afternoon. It is a pleasure to join you to close this vital summit.

    I want to thank Richard Curtis and Make My Money Matter for hosting it.

    As well as my friends and colleagues Mark Carney, and Nigel Topping for all the work they have done to get private finance going green.

    The challenge the world faces today is critical and it is urgent.

    When the countries of the world signed the Paris Agreement in 2015, they committed to limit global temperature rises to well below 2 degrees, aiming for 1.5 degrees, because the science showed that this would avert the very worst effects of climate change.

    But since that Agreement was signed the world has not done enough.

    And today, we find ourselves at a crunch point.

    To keep the 1.5 degree target within reach, we must halve global emissions by 2030.

    And we must reach net zero emissions by the middle of this century.

    That requires action now.

    We cannot kick the can down the road any further.

    If we do not take this chance to keep 1.5 degrees alive, it will slip from our grasp.

    And so will our best hope of building the future we want to see.

    So COP26, the United Nations climate conference that will be held in Glasgow in November, must be the moment that every country, and every part of society, embraces their responsibility, to protect our precious planet.

    And, very importantly, that includes finance.

    Because without it, the task ahead is near impossible.

    That is why one of my key aims for COP26 is to get finance flowing to climate action – both public and private.

    And with $47trillion in pension funds globally, this sector plays a major role.

    We need to get our savings for the future, shaping the future.

    The good news is that there is not a choice to be made between private profit, and protecting the planet.

    One needn’t be sacrificed for the other.

    Because the economics have changed.

    Today, green investments are smart investments.

    In the majority of the world, renewables are cheaper than new coal and gas.

    Putting your money in fossil fuels creates the very real risk of stranded assets.

    And a recent report from Imperial College London found that, over the past five years and, indeed, the past ten years, renewable investments generated higher returns than fossil fuels in both advanced economies and emerging markets.

    New global markets are also emerging to help people and nature adapt to the effects of our changing climate.

    From drought resilient seed technologies, to energy efficient cooling.

    Creating new investment opportunities for investors.

    So it is not surprising that we are seeing progress.

    One hundred and sixty financial firms have signed up to the Glasgow Financial Alliance for Net Zero, committing to reach net zero by 2050 at the latest, and to robust targets, based on the science, to get there.

    This includes banks with balance sheets of nearly $30trillion.

    Asset owners worth $6trillion.

    Including major pension schemes, such as Aviva, BT Pension Scheme and the Church Commissioners of England.

    And asset managers responsible for $37trillion worth of assets, which represents around 40 percent of the industry.

    Ahead of COP26, I am urging all financial institutions to join them.

    And commit to a net zero future.

    As well as to taking four other key steps to protect our planet:

    First, commit to exit coal finance.

    So that, together, we make COP26 the moment we consign coal power to the past where it belongs.

    Second, increase investments in climate action in developing and emerging markets.

    Thirdly, protect nature.

    By 2025 ensure none of your investments contribute to deforestation.

    And by 2030 ensure your investments are contributing to the restoration of the natural world.

    Finally, disclose your climate risk in line with the Taskforce on Climate Related Financial Disclosures, or TCFD.

    This will become mandatory across most of the UK economy in 2023.

    And the government will shortly introduce regulations on what this means for pensions, to ensure trustees take account of climate change risk in each and every decision.

    There is a real advantage in getting your house in order. And early.

    Awareness of the climate crisis is growing all the time, and consumers and shareholders increasingly want their investments to align with their values.

    So, when they start to look at whether they should be moving their pension, give them the best possible reason to stay with you.

    Show them that you have understood the urgency of the situation.

    That you stepped up to the plate.

    And that in this vital year for climate action, the year of COP26, you are playing your part in keeping 1.5 degrees alive.

    Show them, in short, that by investing with you, they are investing in the clean, green and prosperous future we all want to see.

    Thank you.

  • Alok Sharma – 2021 UN Climate Change Conference Speech

    Alok Sharma – 2021 UN Climate Change Conference Speech

    The speech made by Alok Sharma, the COP26 President, on 31 May 2021.

    Friends,

    It is fantastic to speak to you from Hanoi as you meet in session for the first time since COP25 in Madrid, almost 18 months ago.

    It is vital that we make this session count.

    Over the past months I have met and spoken with many world leaders, ministers, civil society organisations, chief executives of businesses, and youth representatives.

    And their message is clear – the world is watching us. It is watching our processes.

    We must step up our global response to the climate crisis.

    Demonstrating the same urgency as we are showing in fighting the coronavirus pandemic.

    This session represents a vital opportunity to make tangible progress within the UNFCCC process.

    It really cannot be about dusting off position papers from COP25 and resuming where we left off. We must take this opportunity to move beyond positional statements.

    And instead, we must work together, we must consolidate options and draft text that we can bring to COP26 for finalisation and adoption.

    We must put in these really hard miles of work now so we arrive in Glasgow having done our homework, ready to reach agreement that keeps 1.5 degrees within reach.

    Agreement that protects people and nature from the impacts of climate change. Agreement that mobilises finance, and agreement that encourages cooperation across borders and across society to deliver against the goals of the Paris Agreement.

    And we must ensure that we leave no issue and no one behind.

    I have utmost faith in all of you making full use of the coming weeks.

    And in the expert leadership of SB Chairs Marianne Karlsen and Tosi Mpanu Mpanu, with whom the UK and Chile continue to work extremely closely.

    And I would like to thank the SB Chairs, as well as my dear friend the Executive Secretary Patricia Espinosa, and her whole Secretariat team, for their efforts in organising this session.

    Particularly, their great work in addressing the very valid concerns raised on virtual working.

    And I would like to wish all of you the very best for this vital session.

    I look forward to reading the outputs of your collective efforts.

    Thank you.

  • Alok Sharma – 2021 Joint Statement with Spanish Deputy Prime Minister

    Alok Sharma – 2021 Joint Statement with Spanish Deputy Prime Minister

    The joint statement made by Alok Sharma and the Spanish Deputy Prime Minister on 12 May 2021.

    Today, despite the extraordinary times we are facing, we jointly reaffirmed that it is crucial that we reinforce and demonstrate that domestic and multilateral action needs to be accelerated on the way to COP26 in Glasgow.

    We underscored our determination to closely cooperate and lead by example through our own socially just energy and ecological transitions, and highlighted the need to encourage increased climate ambition, especially from the world’s major economies, in a context of cooperation and global solidarity.

    COP26 will be a crucial moment for establishing continued trust in the multilateral process for addressing climate action. In this context, we exchanged views on UNFCCC Negotiations, taking into account the need to reach a balanced outcome in Glasgow which lays the foundations for an African COP in 2022.

    We discussed the importance of scaling up international climate finance and private investment for both mitigation and adaptation as well as the crucial role of finance in enabling action and ambition – on both emissions and resilience – in all countries. This will be crucial in building the trust of developing countries ahead of COP26.

    Following Spain’s hosting of COP25, we also discussed the COP26 Presidency’s commitment to working with all countries to finalise the Paris Rulebook and successfully advance wider negotiations issues, including the elements required to drive increased ambition and transparency. We discussed how Spain can help drive progress on all of these fronts resolving that it is critical to work closely with all parties in order to ensure the success we need in Glasgow.

  • Alok Sharma – 2021 Comments on Vatican City Visit

    Alok Sharma – 2021 Comments on Vatican City Visit

    The comments made by Alok Sharma, the COP26 President, on 10 May 2021.

    A cross-society approach is essential if we are to achieve the Paris Agreement goal of keeping global warming to less than 1.5 degrees alive.

    Faith leaders are an integral part of this approach and I was honoured to visit Vatican City to discuss this.

    His Holiness, Pope Francis, has committed the Vatican State to a net zero future and I hope his leadership and moral standing across the world will set a powerful example to others.

  • Alok Sharma – 2021 Comments Ahead of Vatican City Trip

    Alok Sharma – 2021 Comments Ahead of Vatican City Trip

    The comments made by Alok Sharma, the COP26 President-Designate, on 9 May 2021.

    I am delighted to be visiting the Vatican City to learn about steps Catholics are taking around the world on climate change.

    I am encouraged by the Catholic Church’s recognition of how urgently the world needs to act if we are to limit warming to 1.5C and protect our planet and people from the intensifying impacts of climate change.

    Faith groups have a vital role to play in raising awareness and ambition around the world. Only through everyone working together can we bring about real change and leave COP26 with a successful outcome.