On the eve of the UN COP26 environmental conference in Scotland this month, countries that signed the 2015 Paris Agreement to reduce carbon emissions will review their progress and outline their policies to achieve net zero emissions by 2050. The report clearly reminds people of the transition to green energy. However, the report also warned that failure to address the issue of climate change could result in a 3% annual loss of global GDP this decade, and a loss of approximately US$69 trillion by the end of this century.

A key priority for COP26 is that governments agree on specific cash support policies that will accelerate the transition to net zero, including pledges to phase out coal use, significantly reduce deforestation, and accelerate the transition to electric vehicles and green heating. System and implement fiscal measures to encourage increased investment in renewable energy. In addition, the summit will be held in Glasgow, the former industrial center of Scotland, and will also try to allow Western governments to fill the US$20 billion annual gap and help emerging countries transition to green energy. Developed countries have agreed to provide 100 billion U.S. dollars to emerging countries each year. Not only did they fail to deliver on this promise, but the United Nations hoped to reach an agreement in Glasgow to further increase funding.

The United Nations Environment Programme estimates that the transition costs of emerging countries will reach US$14-300 billion by 2030 and US$28-500 billion by 2050. The Climate Policy Initiative, a San Francisco-based think tank, estimates that Africa itself may need as much as $3 trillion by the end of this decade. The report pointed out that funding the trillions of dollars in investment required for net zero will require "significant changes in capital allocation." According to the World Resources Institute, G20 countries still account for 75% of global greenhouse gas emissions. At the same time, a report by Moody's Investor Service shows that the risk exposure of financial institutions in the G20 in carbon-intensive industries is close to US$22 trillion. Keywords: engineering construction, engineering news

It is estimated that the issuance of labelled bonds in 2021 will exceed 1 trillion US dollars, of which green, social and sustainable development bonds will be 900 billion US dollars, and sustainable development-related bonds will further increase by 100 billion US dollars. The report added that, driven by environmental, social and governance (ESG) issues and EU regulations, labelled bonds in 2021 have accounted for more than 20% of the high-grade and European high-yield bonds issued by European companies, twice the amount in 2020. many. However, although the report is optimistic about the ability of Western governments to pay for the greening of the planet, the report pointed out that although about 50 countries and the European Union (which account for nearly 75% of carbon dioxide emissions) have pledged to reach net zero, so far only Ten countries have written this commitment into their legislation. The report added that although some countries have committed to long-term goals centered on 2050 or the end of this century, they have failed to make 2030 commitments in accordance with the Paris Agreement.Editor/XingWentao,Design/ZhangTao