The COP26, the most important summit since the signing of the Paris Agreement to tackle the climate crisis, took place in Glasgow between 31 October and 12 November. We tell you the conclusions of the meeting.

The latest United Nations Climate Change Conference of the Parties, COP26, was hosted on this occasion by the United Kingdom in partnership with Italy in Glasgow from 31st October and the 12th of November 

Around 40,000 people, including heads of state, diplomats, representatives of civil society and private companies met at this face-to-face conference to agree on new objectives in the fight against climate change

Glasgow COP26 has been the most critical summit since the Paris Agreement, , in which the world expected countries' proposals to be more ambitious than ever before, is a major milestone since the Paris Agreement. Scientists continue to insist that if governments do not urgently abandon the burning of fossil fuels, they will not be able to achieve a significant reduction in greenhouse gas emissions.

Further on, we will tell you all the details of this COP26 and the most important points of the agreement that has been reached. But first, let's put it in context:

The main purpose of COP26 was to keep within that 1.5°C, i.e. to find national compromises to keep the global average temperature below the 1.5 ºC threshold compared to the pre-industrial era temperature.

What is COP26?

The Conference of Parties (COP) is the top body of the United Nations Framework Convention on Climate Change (UNFCCC). "Parties" refers to the 197 nations (actually 196 countries plus the European Union) that meet every year for two weeks to combat the "dangerous anthropogenic interference with the climate system" and to address the problem of global warming that our planet is facing.

Glasgow COP26 is the twenty-sixth time that countries meet for this purpose. The last summit was Madrid COP25 in December 2019, as the COVID-19 pandemic prevented countries from meeting in 2020.

What is the Paris Agreement?

Glasgow COP26 has addressed some of the crucial points of the Paris Agreement and to establish technical details to ensure compliance with the rules governing the carbon market or the way in which countries must report reduced emissions at a national level. The conclusions on these points are explained below.

But what is the Paris Agreement about? It is the most significant pact adopted by 196 parties on 4 November 2016 after 20 years of negotiations. Its objective is to limit global warming to 2°C compared to the industrial era and to really try and limit it to 1.5°C by reducing greenhouse gas emissions enough to achieve carbon neutrality by 2050.

The Agreement establishes that signatory countries must submit national plans to achieve this objective, which will have to be reviewed every five years. In addition, developed countries pledged to contribute at least USD 100 billion every year, from 2020, to climate change mitigation and adaptation. 

01 - 12 November 2021

COP26 conclusions

COP26 in Glasgow, although it ended with a weaker agreement than intended, represented decisive progress toward the urgent reduction of the emissions responsible for the planet’s global warming. The problem now is speed. Will countries be able to take the necessary measures to transform the energy system? And do so in time to halt the effects of climate change? The final declaration from COP26 urges the parties to step up their efforts in 2022 to bring about reduced emissions during the rest of the decade. And, for the first time, the text includes an explicit reference to coal. Below we summarize the most important advances made by COP26 in Glasgow:

COP26 Glasgow goals:


  • The main achievement of COP26 was establishing 1,5°C as the limit for the maximum temperature increase, following on from the Paris Agreement which set it as 2°C and only mentioned making efforts to keep it at below 1.5°C.


  • It was agreed for the first time to speed up efforts to phase down coal and phase out fossil fuel subsidies.


  • The so-called Paris Agreement Rulebook was finally defined, fixing standards for transparency and information, so that all parties should monitor progress toward their emissions reduction objectives and report it every two years.



  • The parties arrived at an agreement on the wording of Article 6, on the development of carbon markets, with large amendments with respect to the Kyoto mechanism.


  • On financing, developed countries have not been able to achieve the 2020 objective, of contributing USD 100 billion per year to help developing countries, but the final agreement urges them to fully deliver on this goal from hereon through to 2025.


  • The agreement acknowledges the terms “loss” and “damage”, which, although they remain to be defined, opens the door to lawsuits against countries and companies that have most contributed to climate change.


  • COP26 also established that there will be annual ministerial conferences to review progress on the agreements and to speed up work before the COPs.


  • The next COP will take place next year in Sharm El-Sheikh (Egypt) and the following one in 2023 will be in the United Arab Emirates.

ACCIONA and its commitment to sustainable regeneration

The fight against climate change is a fundamental priority for ACCIONA. It is for this reason that we are working towards a sustainable business model that seeks economic growth but also social and environmental regeneration, leaving a positive impact on the planet. For many years we have been developing infrastructure solutions and projects in renewable energy, clean water and sustainable mobility that address the main global challenges that we are facing. As a company, we go beyond making our business sustainable and support projects that help regenerate and leave a positive impact on the communities and ecosystems in which we operate.

ACCIONA's participation at the Glasgow COP26

Tuesday 2nd November

Finance for the Future Awards 2021

Tuesday 2nd November 17:00h. - 20:00h CET

We are the only utility in the world finalist of the #FinancefortheFutureAwards (@ICAEW) in the  "Moving financial markets" category. This category rewards ambitious organizations for building more sustainable financial systems.

Follow the awards ceremony here.

Thursday 4th November

The Role of Taxonomy to Drive Market Alignment with the Paris Agreement.

Thursday, November 4 at 10:00 h CET

The EU Taxonomy makes a fundamental contribution to sustainable finance, the EU Green Deal and the global transition to a low-carbon, climate-resilient and environmentally sustainable economy. Taxonomies are also evolving in other regions and countries. What does it mean for financial actors and how can we translate the EU Taxonomy criteria into action on the ground? How can it help channel capital towards sustainability goals and what are the trends, challenges and solutions to overcome them?

Participant: José Luis Blasco, Sustainability Director.

If you want to join our session, you can follow it here.

Monday 8th November


Monday 8th November 11:30h. - 12:30h. CET

The Next Frontier: Positive Impact beyond Net-Zero" forum organized by ACCIONA is a panel of discussion focused on what will come after the 2030 Goals and how the world will achieve the targets set for 2050.

Taking a regenerative approach and creating a positive impact on business will be discussed by four leading companies working on this forward-looking approach.

Moderated by John Elkington, father of the concept of regenerative capitalism, and featuring:

  • Jose Manuel Entrecanales, CEO of ACCIONA
  • Alan Jope, CEO of Unilever
  • Juvencio Maeztu, Deputy CEO of Ikea
  • Geraldine Matchett, Co-CEO DSM

Follow the live event here.

Wednesday 10th November


Wednesday 10th November 13:00h. - 14:00h. CET

ACCIONA liderará un panel dentro de la COP26 donde expondrá la iniciativa "Sostenibles 50:50" y la importancia de la diversidad en los proyectos para combatir el cambio climático. 

"Sostenibles 50:50" es un proyecto de ACCIONA para potenciar el liderazgo femenino. Más de 1.000 mujeres han participado ya en los programas con más de 25.000 horas de formación.

ACCIONA will lead a panel at COP26 where it will present the "Sustainable 50:50" initiative and the importance of diversity in projects to combat climate change. 

"Sostenibles 50:50" is an ACCIONA initiative to promote female leadership. More than 1,000 women have already participated in the programs with more than 25,000 hours of training.

If you want to join our session, you can follow it here.

Tuesday 9th November

ACCIONA – SDG 7 Pavilion Event

Tuesday, November 9 at 17:45h. CET

ACCIONA Energía has been a pioneer in using blockchain technology since 2018. It started as tool to trace the origin of its renewable energy and storage processes, to guarantee the 100% clean origin of the energy sold to its costumers. This year, the company has developed two new uses to tokenize an entire value chain: green hydrogen and biomass sustainability.

The workshop will develop how tokenizing through blockchain can accelerate renewable consumption in those regulations that lack certifying mechanisms, especially in nascent markets like green hydrogen.

Participant: Rafael Mateo, CEO Energy

If you want to join our session, you can follow it here.

Thursday 11th November

Decarbonizing the built Environment – Mckinsey

Thursday, November 11 at 11:00 h CET

Cities drive almost three-quarters of humanity’s emissions and are on the front lines of climate risks. To meet the decarbonization and resilience goals of the next decade, we need to make rapid changes to how we live, work, move, and play in cities. This session will address how to unlock rapid action through changes in financing approaches, institutional frameworks, and community mobilization.

Participant: Luis Castilla, CEO Infrastructure

If you want to join our session, you can register here.


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