It’s clear that the most important development from COP was the launch of the Glasgow Financial Alliance for Net-Zero (GFANZ), representing 450 organisations with some USD130 trillion of assets under management. 40% of global assets are now committed to the transition. For a sense of scale, global GDP last year was USD85 trillion.

Our planet is on the cusp of irreparable environmental devastation. Environmentalists and agencies such as the International Energy Agency have been advocating for years that switching to renewable energy is the only way to peaceful and healthy survival.

During International Green Hydrogen Day (held on October 8), Chilean Energy Minister Juan Carlos Jobet pointed out that green hydrogen projects have tripled in number since the launch of the national strategy. The number of projects has grown from 20 to more than 60 in varying stages of development.

The ideological and political differences between China and the U.S. continue to grow, but the world's two largest economies remain inextricably linked.

Glasgow: 10/11/2021: 13:00 GMT: Yesterday at COP26, the state development bank VEB.RF announced the official adoption of the Russian Green Taxonomy. The Taxonomy was developed with the ambition of compatibility with international best practice and VEB.RF designed it to be broadly in line with the Climate Bonds Taxonomy and with the 'substantial contribution' components of the EU Taxonomy.

1. The launch of the Glasgow Financial Alliance for Net Zero (GFANZ) was described as a “watershed moment and gamechanger” by NGFS (Network of Central Banks and Supervisors for Greening the Financial System) Chair Frank Elderson. GFANZ’s 450 members represent USD130trn assets. 40% global assets are now committed to the transition. GFANZ’s statements affirm that investor appetite is sky-high and the money is available for net zero.

The MENA region is well versed in political transitions and administrative turnovers.

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We were gratified to have impressive attendance at our 2022 Latin America Forecast Webinar last week.

SwissCham is delighted to invite you to the 5th edition of the Sino-Swiss Business Awards on October 21, 2021 at China World Summit Wing in Beijing. The event will continue the celebrations of the 25th anniversary of SwissCham China and will be the occasion to reward the efforts of many Swiss and Chinese companies, particularly in the field of sustainability.