There are just weeks until COP26 in Glasgow, Scotland. Discussions about sustainability and the environment, as well as net-zero goals, will be at the forefront many people’s thoughts.

For the U.K. to host the Climate Change Summit, the stakes are extremely high. Boris Johnson, the Prime Minister of Britain, described COP26 last month as “the turning point in humanity” during a speech to the U.N. General Assembly.

“We must limit the rise in temperatures — whose appalling effects were visible even this summer — to 1.5 degrees,” Johnson said. He said that “we must all come together and have a collective coming-of-age.” We must demonstrate that we are mature and have the wisdom to take action.

The COP26 will cover a wide variety of topics.

Discussions about adaptation to climate change and the mobilization of finance to achieve climate-related goals will take place, while a document outlining the summit’s aims says countries have been “asked to come forward with ambitious 2030 emissions reductions targets … that align with reaching net zero by the middle of the century.”

The goals of COP26 have high ambitions and it is a challenge to get all the parties on board for a set of common goals that will lead to a better planet.

Collaboration is essential in Glasgow. Steve Sedgwick moderated a debate about the topic.

Sanda Ojiambo is CEO and executive Director of United Nations Global Compact.

The U.N. comprises over 14,000 companies. Global Compact claims to be the “largest global corporate sustainability initiative”. It is a voluntary program that focuses on 10 principles, including labor rights and environmental protection.

Global Compact supports businesses in taking more strategic actions that advance larger societal goals like the UN Sustainable Development Goals. This includes a focus on collaboration and innovation.

Ojiambo for her part explained how it was important to foster a sense unity in order to tackle the hard challenges associated with climate change.

She said: “What excites me most … above and beyond the membership of the Global Compact, is the clarity of the fact that to address the climate crisis you do need partnership between government, between the private sector, civil society. This multi-stakeholder multilateral approach must work.

Ojiambo was told by Ojiambo, that it would be difficult to get companies to agree on such a broad range of issues.

“We don’t actually ask for alignment across many issues,” she stated. “What we say at the Global Compact, is that we embrace these 10 principles for responsible business.

“But it’s really about materiality in terms Sustainable Development Goals,” she stated, highlighting the importance to be laser-focused on particular challenges.

She said, “If you are sitting in an extractive sector, what is more important to you? It is definitely very different than if you are in the banking or hospitality industries.”

It becomes then a question of materiality. This is where it’s important to prioritize and make the greatest impact.

“But if I go to the fundamentals … we believe that embracing the principles that we have on human rights, labor, the environment and anti-corruption just make for better business.” 

Although businesses may take actions, there are many other stakeholders that will be required to cooperate in order to make sure efforts to address climate change are long-term and effective.

Adair Turner who chairs the Energy Transitions Commission believes that there is a paradigm shift.

“The good news is that, really, over the last two years, there has been a positive ambition loop … a self-reinforcing cycle between what governments are saying and what the private sector is saying,” he said.

“It’s become increasingly clear that the private sector can make a commitment to achieve net zero emission of carbon by mid century with all available technologies,” he said.

“That [is]Governments can have confidence in their ability to achieve that goal. [is]It is now non-negotiable that businesses follow this goal.