COP26: the United Kingdom to become carbon neutral by 2050

The United Kingdom, host of the COP26 climate change conference, is seeking to achieve carbon neutrality by 2050.

To do so, the British government is setting up a task force to develop new standards. These rules will require local financial institutions and listed companies to publish extensive transition plans. London is also considering developing standards for assessing these plans in order to avoid "greenwashing".

Through this initiative, the country will become the first financial center in the world to be carbon neutral.

The UK intends to block 576 million GBP (786.028 million USD) for the benefit of emerging markets, including 100 million GBP (136.463 million USD) for developing countries to give them quicker and easier access to climate finance.

Globally, 450 financial companies are committing to the Paris agreement to limit global warming to 1.5°C. These companies represent more than 130 trillion USD, or 40% of global financial assets.