Climate action: what we've achieved in 2021

On ending coal…

What was agreed at COP?

For the first time during a COP, we saw an explicit plan to reduce the use of coal. However, the final Glasgow text contained some fairly weak language around doing so – referring to ‘phasing down’ the use of coal rather than ‘phasing it out’, largely due to a late intervention by China and India.

What actually needs to happen?

For us to effectively tackle climate change and meet the Paris Agreement goal of 1.5C warming, we must consign coal to history. 'Phasing down' is not enough.

How we've worked towards ending coal this year:

How will we keep working to end coal?

Cutting coal from the energy sector is one necessary action to drastically reduce global greenhouse gas emissions. We must keep moving forwards towards a future built on clean, renewable energy.

This means we’ll keep fighting in court to close coal power plants and secure a green future for those who have been employed in the coal industry. We’ll keep exposing misleading advertising by fossil fuel companies, as well as advocating for bold government action against coal.

On climate finance...

What was agreed at COP?

As a result of COP26, two-fifths of the world's financial assets, $130 trillion, are now under the management of banks, insurers and pension funds that have signed up to 2050 net-zero goals, including limiting global warming to 1.5C.

The UK Treasury also revealed a set of steps to pour trillions of pounds into tackling climate change. Among other measures, it announced that by 2023 most UK-listed companies will have to set out detailed public plans for how they will move to a low-carbon future, with standards set out by an expert panel. This is in line with the UK’s target to reach net zero by 2050.

What actually needs to happen?

System-level shifts towards net zero are urgently needed, and the Treasury’s promises are encouraging. But we need all companies to play their part in the transition by planning to adjust to a low carbon world, not only listed firms. What’s more, the UK Government needs to address the ease with which carbon-intensive companies can list on the London Stock Exchange, without additional disclosure burdens or barriers for detriment.

Finance is essential in the fight against climate change. We need all companies of all sizes to report on climate impacts on their business and plan for the transition, and we need pension funds and those in charge of people’s savings to manage climate risks. We need banks and insurers to align with the goals of the Paris Agreement and phase out financing for fossil fuels, and to realise all of this, we need climate considerations to be integrated into regulations and law.

How we've worked to mobilise climate finance this year:

How will we keep using corporate and investment laws to drive action on climate change?

Into 2022, we will be continuing to put pressure on banks, financial business and companies to take urgent action on climate. We’ll keep pushing for proper enforcement against laggards, and we’ll help shape laws and regulations that effectively compel financial and corporate firms to set out how they will transition to a net zero world.

On tackling deforestation...

What was agreed at COP?

More than 100 world leaders at COP26 announced their commitment to ending deforestation by 2030. This was a positive step forward, signed by countries that import forest commodities, like the UK, and those that export them, like Brazil and Indonesia.

What actually needs to happen?

For it to translate into action, the commitment needs teeth. It must address how deforestation is defined and measured, set binding milestones, address financing issues, and ensure participation and protections for local communities and Indigenous peoples. To ensure countries live up to their promises, transparent and robust monitoring is essential.

How we've protected forests this year:

How will we keep working to protect forests?

We are continuing to support a case to protect Ghana’s Atewa Forest from bauxite mining, as well as resuming work in Gabon, working with local partners to train and support local forests communities on their rights to forest land.

On climate justice...

What was agreed at COP?

Despite citizens of the Global South and Indigenous communities suffering the worst effects of climate change, there was notable underrepresentation of their voices at COP26.

The final agreement pledged to significantly increase money to help developing countries cope with climate impacts like extreme weather events, and make the switch to clean energy. There was also the prospect of a yearly $1 trillion fund from 2025, after a previous pledge for more financially richer countries to provide $100bn a year by 2020 was missed.

The agreement also includes establishing a facility to support technical assistance on loss and damage from climate change in developing countries.

What actually needs to happen?

Agreeing to establish a facility to support technical assistance is far from providing financial support to compensate for loss and damage, which the coalition of least developed countries was pushing for.

Legal options to compel support from the worst polluting countries should be considered – and we are already seeing this from countries such as Vanuatu and Tuvalu. We need to see much greater funding to support the rising cost of adaptation as climate impacts intensify, particularly for the 6.5 billion people living in the Global South.

How we've fought for climate justice this year:

How will we continue to fight for climate justice?

In 2022, we will continue to call out misleading advertising and push for new laws that effectively guard against greenwashing. We will hold governments and companies accountable for failing to deliver on their promises. And we will support communities on the frontline of the climate crisis in seeking climate justice.