As the world (with a few notable exceptions) descends on Glasgow from 31 October to 12 November for COP26, companies and non-governmental organisations will be keeping a close eye on two main areas:

• The negotiated outcomes relating to the outstanding issues in the Paris Agreement’s rulebook – most notably on carbon markets .
• Whether adequate finance flows to developing countries are agreed.

Eyes will also be on any further developments in the Nationally Determined Contributions (NDCs), ie countries’ pledges to reduce emissions in line with the Paris Agreement’s goal to limit the rise in global temperatures to 2°C, and preferably 1.5°C, above pre-industrial levels. Either as part of or on top of the NDCs, which are centred on 2030 targets, more than 135 nations worldwide have now set some form of net-zero emissions target; 13 have been transposed to national law.

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