Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > “One minute to midnight” says Johnson as climate conference opens
    Top Stories

    “One minute to midnight” says Johnson as climate conference opens

    “One minute to midnight” says Johnson as climate conference opens

    Published by Jessica Weisman-Pitts

    Posted on November 1, 2021

    Featured image for article about Top Stories

    By Mark John and Katy Daigle

    GLASGOW (Reuters) -A U.N. conference https://www.reuters.com/business/cop critical to averting the most disastrous effects of climate change kicked off on Monday, its task made even more daunting by the failure of major industrial nations to agree ambitious new commitments.

    The COP26 conference in the Scottish city of Glasgow opened a day after the G20 economies failed to commit to a 2050 target to halt net carbon emissions – a deadline widely cited as necessary to prevent the most extreme global warming.

    Instead, their talks in Rome only recognised “the key relevance” of halting net emissions “by or around mid-century”, set no timetable for phasing out coal at home and watered down promises to cut emissions of methane, a greenhouse gas many times more powerful than carbon dioxide.

    Their commitment to phase out fossil fuel subsidies “over the medium term” echoed wording used by the G20 at a summit in Pittsburgh as long ago as 2009.

    “Humanity has long since run down the clock on climate change. It’s one minute to midnight on that Doomsday clock and we need to act now,” British Prime Minister Boris Johnson told the opening ceremony.

    “If we don’t get serious about climate change today, it will be too late for our children to do so tomorrow.”

    As Johnson was speaking, Swedish activist Greta Thunberg retweeted an appeal for her millions of supporters to sign an open letter accusing leaders of betrayal.

    “This is not a drill. It’s code red for the Earth,” it read. “Millions will suffer as our planet is devastated — a terrifying future that will be created, or avoided, by the decisions you make. You have the power to decide.”

    Many of those leaders were due to take to the stage in Glasgow at the start of two weeks of negotiations that conference host Britain is billing as make-or-break.

    DISCORD

    Discord among some of the world’s biggest emitters about how to cut back on coal, oil and gas, and help poorer countries https://www.reuters.com/business/environment/climate-finance-could-make-or-break-cop26-summit-heres-why-2021-11-01 to adapt to global warming, will not make the task easier.

    At the G20, U.S. President Joe Biden singled out China and Russia, neither of which sent its leader to Glasgow, for not bringing proposals to the table.

    Chinese President Xi Jinping, whose country is by far the biggest emitter of greenhouse gases, ahead of the United States, was due to address the conference on Monday in a written statement, according to an official schedule.

    President Vladimir Putin of Russia, one of the world’s top three oil producers along with the United States and Saudi Arabia, dropped plans to participate in any talks live by video link, the Kremlin said.

    Turkish President Tayyip Erdogan said he had decided to stay away after Britain failed to meet Ankara’s demands on security arrangements and protocol, the Turkish broadcaster NTV reported.

    Less senior delegates – many of them held up on Sunday by disruptions to the rail service between London and Glasgow – had more mundane problems.

    More than a thousand had to shiver https://www.reuters.com/business/environment/queuing-save-world-delegates-head-into-cop26-summit-venue-2021-11-01 for over an hour in a bottleneck outside the venue to present proof of a negative COVID-19 test and gain access, while being treated by activists to an electronic musical remix of Thunberg’s past speeches.

    PROMISES, PROMISES

    Delayed by a year because of the COVID-19 pandemic, COP26 aims to keep alive a target of capping global warming at 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels https://www.reuters.com/business/cop/paris-glasgow-cutting-through-climate-jargon-2021-10-27 – a level scientists say would avoid its most destructive consequences.

    To do that, it needs to secure more ambitious pledges https://www.reuters.com/world/uk/cop26-what-would-success-look-like-climate-summit-2021-10-31 to reduce emissions, lock in billions in climate-related financing for developing countries, and finish the rules for implementing the 2015 Paris Agreement, signed by nearly 200 countries.

    Existing pledges to cut emissions would allow the planet’s average surface temperature to rise 2.7C this century, which the United Nations says would supercharge the destruction that climate change is already causing by intensifying storms, exposing more people to deadly heat and floods, raising sea levels and destroying natural habitats.

    Developed countries confirmed last week that they would be three years late in meeting a promise made in 2009 to provide $100 billion a year in climate finance to developing countries by 2020.

    “Africa is responsible for only 3% of global emissions, but Africans are suffering the most violent consequences of the climate crisis,” Ugandan activist Evelyn Acham told the Italian newspaper La Stampa.

    “They are not responsible for the crisis, but they are still paying the price of colonialism, which exploited Africa’s wealth for centuries,” she said. “We have to share responsibilities fairly.”

    Two days of speeches by world leaders will be followed by technical negotiations. Any deal may not be struck until close to or even after the event’s Nov. 12 finish date.

    (Reporting by Elizabeth Piper and Jeff Mason; writing by Mark John and Kevin Liffey; editing by Barbara Lewis and Alexander Smith)

    By Mark John and Katy Daigle

    GLASGOW (Reuters) -A U.N. conference https://www.reuters.com/business/cop critical to averting the most disastrous effects of climate change kicked off on Monday, its task made even more daunting by the failure of major industrial nations to agree ambitious new commitments.

    The COP26 conference in the Scottish city of Glasgow opened a day after the G20 economies failed to commit to a 2050 target to halt net carbon emissions – a deadline widely cited as necessary to prevent the most extreme global warming.

    Instead, their talks in Rome only recognised “the key relevance” of halting net emissions “by or around mid-century”, set no timetable for phasing out coal at home and watered down promises to cut emissions of methane, a greenhouse gas many times more powerful than carbon dioxide.

    Their commitment to phase out fossil fuel subsidies “over the medium term” echoed wording used by the G20 at a summit in Pittsburgh as long ago as 2009.

    “Humanity has long since run down the clock on climate change. It’s one minute to midnight on that Doomsday clock and we need to act now,” British Prime Minister Boris Johnson told the opening ceremony.

    “If we don’t get serious about climate change today, it will be too late for our children to do so tomorrow.”

    As Johnson was speaking, Swedish activist Greta Thunberg retweeted an appeal for her millions of supporters to sign an open letter accusing leaders of betrayal.

    “This is not a drill. It’s code red for the Earth,” it read. “Millions will suffer as our planet is devastated — a terrifying future that will be created, or avoided, by the decisions you make. You have the power to decide.”

    Many of those leaders were due to take to the stage in Glasgow at the start of two weeks of negotiations that conference host Britain is billing as make-or-break.

    DISCORD

    Discord among some of the world’s biggest emitters about how to cut back on coal, oil and gas, and help poorer countries https://www.reuters.com/business/environment/climate-finance-could-make-or-break-cop26-summit-heres-why-2021-11-01 to adapt to global warming, will not make the task easier.

    At the G20, U.S. President Joe Biden singled out China and Russia, neither of which sent its leader to Glasgow, for not bringing proposals to the table.

    Chinese President Xi Jinping, whose country is by far the biggest emitter of greenhouse gases, ahead of the United States, was due to address the conference on Monday in a written statement, according to an official schedule.

    President Vladimir Putin of Russia, one of the world’s top three oil producers along with the United States and Saudi Arabia, dropped plans to participate in any talks live by video link, the Kremlin said.

    Turkish President Tayyip Erdogan said he had decided to stay away after Britain failed to meet Ankara’s demands on security arrangements and protocol, the Turkish broadcaster NTV reported.

    Less senior delegates – many of them held up on Sunday by disruptions to the rail service between London and Glasgow – had more mundane problems.

    More than a thousand had to shiver https://www.reuters.com/business/environment/queuing-save-world-delegates-head-into-cop26-summit-venue-2021-11-01 for over an hour in a bottleneck outside the venue to present proof of a negative COVID-19 test and gain access, while being treated by activists to an electronic musical remix of Thunberg’s past speeches.

    PROMISES, PROMISES

    Delayed by a year because of the COVID-19 pandemic, COP26 aims to keep alive a target of capping global warming at 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels https://www.reuters.com/business/cop/paris-glasgow-cutting-through-climate-jargon-2021-10-27 – a level scientists say would avoid its most destructive consequences.

    To do that, it needs to secure more ambitious pledges https://www.reuters.com/world/uk/cop26-what-would-success-look-like-climate-summit-2021-10-31 to reduce emissions, lock in billions in climate-related financing for developing countries, and finish the rules for implementing the 2015 Paris Agreement, signed by nearly 200 countries.

    Existing pledges to cut emissions would allow the planet’s average surface temperature to rise 2.7C this century, which the United Nations says would supercharge the destruction that climate change is already causing by intensifying storms, exposing more people to deadly heat and floods, raising sea levels and destroying natural habitats.

    Developed countries confirmed last week that they would be three years late in meeting a promise made in 2009 to provide $100 billion a year in climate finance to developing countries by 2020.

    “Africa is responsible for only 3% of global emissions, but Africans are suffering the most violent consequences of the climate crisis,” Ugandan activist Evelyn Acham told the Italian newspaper La Stampa.

    “They are not responsible for the crisis, but they are still paying the price of colonialism, which exploited Africa’s wealth for centuries,” she said. “We have to share responsibilities fairly.”

    Two days of speeches by world leaders will be followed by technical negotiations. Any deal may not be struck until close to or even after the event’s Nov. 12 finish date.

    (Reporting by Elizabeth Piper and Jeff Mason; writing by Mark John and Kevin Liffey; editing by Barbara Lewis and Alexander Smith)

    Related Posts
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Top Stories PostBritain launches plan to boost green investments in emerging markets
    Next Top Stories PostG20 wants 70% of world vaccinated by mid-2022, sets up pandemic task force

    More from Top Stories

    Explore more articles in the Top Stories category

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    View All Top Stories Posts