Some Reflections On COP

Cutting through the noise post-COP26, more than many moments in time, is as difficult as it is necessary. Of the near-200 countries who have signed themselves into the Glasgow Climate Pact (GCP), we know there is an exciting new societal and sustainable chapter ahead.

At Q5 – we’ve been working hard to decipher the headline announcements, and what they mean for our business and clients. As Mark Carney explores, net-zero commitments offer incredible business opportunities to add considerable value to their organisations. We know that the road to 1.5C is one which will create disruptions to business as usual. We expect this will translate into organisation redesigns to meet the needs of a society more concerned than ever about purpose, materiality, and the full value chain.

There is much to be hopeful for throughout the last fortnight of action – after all:

• There are major planned phasedowns of coal usage already reflecting in market prices
• The development of GFANZ Glasgow Financial Alliance for Net Zero (gfanzero.com) has provided a global, private sector, financial powerhouse for investment into green assets.
• We now have an agreement in the GCP that is urgent and actionable.
• There is now a recognised commitment to end deforestation globally.

These commitments are significant, but some will take time to manifest themselves and crossover into our working contexts, but they will soon enough. It is possible to argue that where governments haven’t yet stepped up on all commitments from this COP, the private sector is yet again offered the opportunity, whether by chance or design, to step up and drive change through innovation and new value creation.

Over the coming weeks we will be working with our sector leads to understand what the COP26 outcome means for our clients and how we can help them through the significant change and transformation that is ahead.

Author: Lewis Bedford, Consultant, Q5