COP26, the next global climate summit, will take place in Glasgow in November 2021, and Europe will be a key player. This online conference looked at the political economy challenges (as opposed to the scientific advances) that must be overcome to meet global climate goals, with a focus on Europe’s agenda.

• Session 1 looked at the stakes at COP26 and the contribution of the European Green Deal to strengthening climate action commitments.
• Session 2 examined the challenges for governments in paying for climate action—since government budgets will be even more constrained post-covid, and carbon taxes are yet to prove politically feasible.
• Session 3 took stock of the adequacy of public and private sector financing arrangements for climate investment. Is the balance between public and private investment appropriate? How best can financial sector guidelines be leveraged into complementing public sector efforts and delivering effective ESG investment? Inter alia, is there a role for central banks?
• Session 4 asked how best to harness public activism, for instance in NGOs and among political groups.