Welcome back. The tagline for this year’s United Nations climate meeting in the Red Sea resort of Sharm El Sheikh is “Together for Implementation.” It’s apt if a little bit bland. The recurring theme running through most of the buildup over the past few weeks feels bolder—a bit more Jerry Maguire: “Show me the money!”

The 27th Conference of the Parties to the U.N. Framework Convention on Climate Change, or COP27, will cover an array of issues, but at the heart of nearly all of them is a need for cash to start matching the rhetoric. Thirty years after the climate framework was first signed, extreme weather events are wreaking havoc around the globe. Hard-hit poor and vulnerable nations are tired of unfulfilled promises from the developed countries responsible for most of the historic greenhouse-gas emissions. It has the makings of a standoff, but a breakthrough is also possible.

The conference is likely to focus on three big themes: financing countries’ efforts to mitigate climate change; funding to help nations adapt to become more resilient; and implementing the host of existing agreements covering topics such as coal, carbon markets and methane. In addition, developing nations want to add “loss and damage” to the agenda, which broadly means funding and help for the vulnerable countries currently harmed by climate change.

COP27 can feel irrelevant for many companies and executives around the world but these nearly annual two-week-long climate negotiations are important. They help define the web of international rules and national ambitions that cascade down onto businesses, investment and citizens. Progress is often frustratingly slow, but the engagement of nearly 200 nations in the dogged negotiations attests to the importance of the outcome.

International rules will be particularly important for companies that have made net-zero pledges as investors, financial institutions and national officials ramp up the scrutiny of their action plans and emissions. National climate plans and ambitions submitted as part of the COP process can help international businesses and investors identify new opportunities and reduce their risk.

COP can also provide space for companies and officials to work together to develop common standards or approaches. Public scrutiny is also important to help hold negotiators and leaders to account.

COP27 kicks off Monday with two days of meetings among political leaders that should set the tone for negotiators who will then really get to work. Meanwhile, thousands of activists, business executives, government officials and other participants will mingle and talk shop. Together with WSJ’s Climate & Energy newsletter, we will bring you the relevant news and insight from the whole conference. 

Have a great weekend!

This week: Plastic reduction targets at risk; Cisco's new sustainability chief talks net zero for 2040; How to use an investment screen for ESG

Major companies will miss key targets to cut down their use of plastic, according to the latest global commitment report from the Ellen MacArthur Foundation, a nonprofit that works with businesses to reduce waste. The report considers the more than 1,000 companies, governments and other organizations—representing over 20% of the plastic-packaging market—that have pledged to cut plastic waste. Most organizations “will almost certainly” miss a 2025 target for 100% reusable, recyclable or compostable plastic packaging, hampered by unrecyclable flexible packaging—such as sachets and films—and a lack of infrastructure, the nonprofit says. Still, it says that signatories’ share of post-consumer-recycled content doubled to 10% in 2021 from 4.8% in 2018.

–Dieter Holger

Cisco Systems Inc.’s recently appointed chief sustainability officer explained how the tech giant’s approach to sustainability changed and why they have set their net-zero target for 2040 rather than 2050.

NASA’s competition for a radical redesign of airplanes to boost their fuel efficiency is coalescing around some funky-looking designs.

A new Stanford University survey analyzed which investors were most willing to go for environmental, social and governance, or ESG, investments and what criteria were most important to them.

Here’s a look at how to use an investment screen for those that want to apply ESG criteria.

Southern California Gas Co., part of the nation’s largest gas utility, is mapping out its future in light of a possible state ban on the sale of gas furnaces and water heaters in 2030.

Margot Robbie talked about building her film production company that champions films with female-centered stories.

How advertisers are missing opportunities to connect with LGBT consumers through their ads.

Join us on Nov. 9 for a webinar discussion about advancing supply-chain sustainability. Speakers include Sandra MacQuillan, executive vice president and chief supply chain officer at Mondelez International, and Ravi Anupindi, professor of operations and management at the Michigan Ross School of Business. Sign up here.

Carbon Brief has mapped out the Twitter-sphere around COP26 in Glasgow. The four most influential accounts were President Joe Biden’s @POTUS, COP26’s official account, activist Greta Thunberg and Prime Minister of India Narendra Modi. (CarbonBrief)

The $8.5 billion plan to help South Africa accelerate its transition away from coal was a notable achievement of COP26, but progress to date has been mixed. (FT)

Global investment in clean energy technologies is up, but emerging markets aren’t getting anywhere near the funding they need. (Bloomberg)

Ahead of COP27, more than 600 investors with $42 trillion under management are calling on governments to step up implementation of climate policies and accelerate net-zero transitions (U.N.)

Microsoft’s president warned that more businesses need to train employees on sustainability or they will miss their climate goals. (Reuters)

The Biden administration is considering relocating Native Americans jeopardized by global warming, offering a potential template for other communities. (New York Times)

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