Updated Nov 8, 2021

COP26 - what has been agreed so far

COP26, the UN climate change conference that started last week and will continue until the 12 November, has already seen some agreements made to help climate change.

The summit's first major deal saw more than 100 world leaders have agreed to end and reverse deforestation by 2030. Funds will include almost £14 billion of public and private funds. Forests absorb huge amounts of CO2, so slowing deforestation could make a big difference to reducing climate change.

A scheme to cut methane emissions by 30% by 2030 has also been joined by more than 100 countries, but has not been signed up to by some of the biggest methane emitters China, Russia and India.

The single biggest contributor to climate change is coal. Over 40 countries have committed to ending all investment in new coal power generation domestically and internationally. Along with countries, many organisations also signed up to the pledge and some banks agreed to stop financing the coal industry.

UK business and energy secretary Kwasi Kwarteng said: "The end of coal is in sight... The world is moving in the right direction, standing ready to seal coal's fate and embrace the environmental and economic benefits of building a future that is powered by clean energy."

However, some are worried that some of the biggest emitters have not signed up to the coal pledge including China and the US.

Finally, around 40% of private global assets have agreed to back clean technology. This means diverting money to things such as renewable energy rather than coal mines or an oil field.

Speaking at the COP26 climate summit, Chancellor Rishi Sunak revealed that most big UK firms and financial institutions will be forced to show how they intend to hit climate change targets, under proposed Treasury rules.

By 2023, they will have to set out detailed public plans for how they will move to a low-carbon future - in line with the UK's 2050 net-zero target. An expert panel will set the standards the plans need to meet to ensure they are not just spin. However, any commitments will not be mandatory. Something Green groups argue is not enough.

The former EU lead negotiator on climate change, Pete Betts said about the conference so far:

"The mood of the conference is good... The trend towards a zero-carbon world is irreversible. The question is when we get there, and what the climate will be like by then."