This years’ climate conference, COP 26 which would have been hosted in Glasgow, has been pushed back into 2021. This is no surprise given the current circumstances, as HSBC Global Research point out in this short report. Hosted by the UK and Italy, the emphasis this year was for raising ambition. The global pause in economic activity is, of course also stopping industrial emissions, but this is likely temporary. The delay to the climate negotiations would not be an immediate negative, but pushing out climate-related action and policy would limit climate ambition over the near term, and perhaps, the political will to raise climate pledges in the future. But, as Patricia Espinosa, UN Climate Secretary, states “COVID-19 is the most urgent threat facing humanity today, but we cannot forget that climate change is the biggest threat facing humanity over the long term.”

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