Simon Smith

KeynoteⅠ

(Ambassador, British Embassy Seoul)

UK Climate Leadership: Green Recovery, the Race to Zero And COP26

[ session 1 ]

UK Climate Leadership: Green Recovery, the Race

to Zero and COP26Simon Smith

British Ambassador to the Republic of Korea

2008: “the world’s first legally binding long-term emissions reduction target – 80% by 2050, on a 1990 baseline”.

2019 Amendment: “the first major economy to legislate for 2050 Net Zero”.

Energy mix during the UK’s coal-free run of 67 days, 22 hours and 55 minutes”:

Gas – 32%Nuclear – 21%Wind – 16%Imports – 11%Biomass – 9%Large Hydro – 1%Storage <1%

33 Countries:- UK- Canada- France- Germany- Mexico

28 Sub-Nationals:- California- Chungcheongnamdo- New York State

43 Businesses:- Unilever- Diageo

“Big Oil faces a future where it may not be so big and may have less to do with oil”.

“…there are currently trillions of dollars of assets sitting on balance sheets globally, at massive risk in readily predictable climate-related scenarios.

These risks are unquantified, undisclosed, and therefore, unmanaged”.

Halting their investment in coal.

Aligning their entire investment portfolio with the trajectories of the Paris Agreement.

Committing to Net Zero 2050.

Urging a reconsideration of subsidy regimes that accelerate climate change.

Committing to Net Zero 2030 and to leading the way in decarbonising shipping, aviation and power.

- 77 companies.- Committed to

purchasing 2.5 million+ Zero Emission Vehicles by 2030 and the roll-out of charging technology.

Thank you