«My big, big ask is to come armed with the currency of compromise. What we agree in Glasgow will set the future for our children and grandchildren”, – Alok Sharma, COP26 President

Key messages:

  • On COP26 were discussed the transportation sector. The sector now accounts for about 24% of global emissions. The most-discussed solution in the transportation space is electrification. According to the IEA, there are now more than 10 million electric vehicles on the road globally. Over 3 million of those are in China, while the Norwegian Road Federation reported that nearly 80 percent of new vehicles sold in the country this September were electric. 
  • Six major automakers on Wednesday committed to phasing out the production of fossil-fuel vehicles around the world by 2040, the British government said in a statement. Volvo, Ford Motor, General Motors, Mercedes-Benz, BYD and Jaguar Land Rover, were set to sign the pledge at climate talks in Glasgow, the latest initiative to help cap global warming by mid-century. Volvo has already committed to going all-electric by 2030. The Jaguar brand will become all-electric starting in 2025. More recently, though, the United Nations Secretary General has called for phasing out the sale of internal combustion engines globally by 2040. 
  • The first draft of the COP26 political decision, which the United Nations released on Wednesday morning, asks countries to “revisit and strengthen the 2030 targets in their nationally determined contributions, as necessary to align with the Paris Agreement temperature goal by the end of 2022”. The draft also urged countries to phase out coal, oil and gas subsidies.
  • China and the United States have announced a plan to work together to reduce greenhouse gas emissions over the next decade by signing an agreement to expand cooperation to combat climate change, including by reducing methane emissions, protecting forests and phasing out fossil fuels.