What to read into last week’s Biden #climate summit? That was the question posed to a panel I chaired earlier today with @laurencetubiana @tasneemessop @johnpodesta @cfigueres…

…notes below

“Most of the G7 are looking at 50% GHG cuts by 2030” said @cfigueres… her top 3 takeaways are:

-2030 is the new 2050
-1.5C is the new 2C
-Coal is the new asbestos

Coal is the 'pariah' of fossil fuels added Figueres, but stressed 'the missing piece is finance' for big emitting developing countries who want to pivot to solar, wind

For @laurencetubiana last week sent a ‘strong signal’ the US is back… but she stressed the focus now is on the integrity of national and business commitments, and an uptick in #climate finance from major donors pre @G7 in June

G7 will be a very important venue for debt, finance, vaccine solidarity, Tubiana said - cost of access to capital for developing countries very high – too high to develop the green transition.

As chief of a coalition of 1000+ NGOs in the #climate space, @tasneemessop’s focus was on solidarity and support. Pre #COP26 “Vaccine solidarity is going to be important,” she said – adding we need to de-toxify loss & damage and accept it’s happening now, everywhere

Finance will be *the* test for #COP26 said Essop, citing lack of delivering from big donors on $100bn promise. "There is no track record for trust" she said.

Former White House chief of staff @johnpodesta said Biden passed the credibility test the summit posed, with 50-52% NDC + 100% clean power by 2035 strong goals but “was expecting more on finance” – citing US GCF + 2024 pledges.

But with #COP26 looming, the real US *win* will be if Biden gets his $2 trillion plan through Congress, Podesta added. If the administration lands that package, it arrives in Glasgow with a strong domestic story & platform

Thanks to all the panel for a good discussion & debate. DM me if you want a recording.