Analysis: Important advances in COP26
The approval of Article 6 at COP26, linked to the Paris Agreement, is an important step towards unlocking the system of investments to finance global decarbonization efforts through implementing a regulated carbon market. It is a significant achievement to reach consensus among companies, governments, and society about the need to overcome past impasses to look to the future.
We are talking of complex negotiations that involve diverse interests and which, obviously, must be followed up with practical actions designed to reduce carbon emissions. I believe that the steps taken towards a regulated carbon market, alongside other important announcements made during COP26, are a cause for celebration. These decisions could give rise to the biggest investment plan in history, focused on decarbonizing the world economy, and to important economic, environmental and social developments.
I am leaving COP26 feeling optimistic and hopeful because we are discussing issues that have a clear impact on the 8 billion people in the world. I heard a message that we need immediate and effective action on the part of governments, businesses and consumers. After all, either we all win, or we all lose, depending on the decisions we collectively take now.
COP26 showed us that influential global leaders are now more willing to seek consensus and urgently address the issue of climate change and recognize the importance it signifies for the current and future generations.
* CEO of Suzano