Deciding on measures to mitigate global warming - this is the key objective of COP26, the United Nations Climate Change Conference, taking place from October 31 to November 12, 2021 in Glasgow. Luxembourg will be an active and committed contributor in a wide array of meetings within the event.
Providing an adequate and sustainable financing framework will be essential to pool the necessary funds, from the public and private sector, to accelerate and facilitate the transition to a sustainable future. As a European leader in sustainable finance, the Luxembourg financial center already plays an important role in mobilizing private capital for the transition to carbon neutrality by 2050.
It is in this context that Luxembourg Prime Minister Xavier Bettel, as well as the Minister for the Environment, Climate and Sustainable Development, Carole Dieschbourg, will participate in the high-level World Leaders Summit on November 1-2, during which the Prime Minister will deliver a speech highlighting the efforts carried out by Luxembourg.
During the first week of the conference, the Luxembourg delegation will participate in a variety of bilateral meetings and events, in particular a Roundtable on Climate Action, organized by the OECD, with Special Presidential US Envoy for Climate John Kerry and the counterparts from Japan, South Korea and Colombia.
Luxembourg will co-sponsor a High-level round table on Climate, Peace and Stability: Weathering Risk through COP and beyond, with Germany and Nauru, in collaboration with the think tanks ‘Munich Security Conference’ and ‘adelphi’. NATO Secretary General Jens Stoltenberg, as well as several foreign and defense ministers, including François Bausch, Deputy Prime Minister and Minister of Defense of Luxembourg, will look at the impacts of climate change on peace and security.
Finance Minister Pierre Gramegna will join a small group of his colleagues to discuss how to mobilize private capital to fight climate change during the “COP 26 Climate Conference Finance Day”. He will also attend a meeting of the Coalition of Finance Ministers for Climate Action, an initiative launched in April 2019.
The second week of COP26 will see the meeting of ‘Women Leaders’ on the adaptation to climate change with Minister Dieschbourg as well as a number of bilateral meetings.
A round-table co-organized by Luxembourg and the World Resources Institute on ‘Climate and Transport : What’s needed and how to get there’ will underline that we must not only look at making transport green by changing the engine, but that we must look at mobility as a whole concept combining different modes of transport. As Deputy Prime Minister and Minister for Mobility François Bausch puts it: ‘we must not replace fossil powered traffic jams by energy powered traffic jams, but rather look at mobility as a whole and work on the different components’.
Last but not least, a joint Benelux-European Investment Bank pavilion will provide a formal framework both for the promotion of Luxembourg as an international center for financing action on climate change and for the presentation of other initiatives in the fight against climate change, to which Luxembourg is currently contributing, such as the promotion of human rights in the context of climate change.