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World leaders meet in Glasgow for the COP26 climate summit - CNBC

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05:35 am: U.N.’s Topping: Tackling warming about interplay between policy and private sector

Speaking to CNBC's Steve Sedgwick, U.N. Climate Champion Nigel Topping said the "real dynamism and implementation [of the green revolution] will come from the private sector, but it needs the guiderails of policy."

— Chloe Taylor

05:26 am: What’s at stake at COP26?

To have any chance of capping global heating to 1.5 degrees Celsius above pre-industrial levels, the aspirational goal of the 2015 Paris Agreement, the world needs to almost halve greenhouse gas emissions in the next 8 years and reach net-zero emissions by 2050.

Climate scientists have repeatedly stressed that the best weapon to tackle rising global temperatures is to cut greenhouse gas emissions — fast.

One expert told CNBC ahead of the summit in Glasgow that at least 195 countries must commit to net zero targets by 2050 at the latest. Meanwhile, a climate lawyer said COP26 must trigger a profound "justice reset."

— Sam Meredith

04:58 am: COP26 a ‘minute to midnight moment,’ U.K.’s Johnson says

Speaking to the BBC, British Prime Minister Boris Johnson said COP26 marked a "one minute to midnight moment."

"The clock is ticking – we have to get everybody to do more and make further commitments," he said.

Those commitments need to include actions like moving away from the use of fossil fuels, using electric vehicles and planting millions, if not a trillion, trees around the world, he added.

"Above all, [we need to work out] how we're going to get the whole of the developing world to buy into all of this," Johnson said.

— Chloe Taylor

04:38 am: Scottish leader Sturgeon urges leaders to act

Nicola Sturgeon, first minister of Scotland where COP26 is being held said Monday morning that she hoped world leaders would "step up" at the summit.

— Chloe Taylor

04:25 am: What’s on Monday’s agenda?

The summit's opening ceremony will take place at midday Glasgow time (8:00 am ET). Statements from heads of state and heads of government will be heard between 1:45 pm and around 5:00 pm local time.

U.S. President Joe Biden is scheduled be the third speaker in the list. Other speakers include French President Emmanuel Macron, Indian Prime Minister Narendra Modi, European Commission President Ursula von der Leyen and German Chancellor Angela Merkel.

Chinese leader Xi Jinping, who is not attending the summit, will address delegates via a written statement on Monday.

Monday will also see some closed meetings take place.

— Chloe Taylor

03:27 am: G-20 leaders pledge climate action with few concrete commitments

British Prime Minister Boris Johnson, French President Emmanuel Macron, German Chancellor Angela Merkel, and U.S. President Joe Biden, at the G-20 summit on October 30th, 2021 in Rome, Italy.

Stefan Rousseau | Pool | Getty Images

Leaders of the world's wealthiest countries met in Rome over the weekend, where they said they "agreed upon a shared vision to combat climate change" and were committed to "work collectively to achieve a successful COP26 in Glasgow."

But the G-20 nations — whose members account for more than 80% of global GDP — were accused by environmental groups of failing to take tangible action on limiting global warming. "I leave Rome with my hopes unfulfilled — but at least they are not buried," António Guterres, U.N. secretary-general said on Twitter.

G-20 members include Australia, Saudi Arabia, the EU, the U.S., and the United Kingdom. U.S. President Joe Biden said during the summit that fellow members China and Russia "basically didn't show up" when it came to tackling climate issues.

— Chloe Taylor

02:55 am: Britain’s Johnson says COP26 ‘cannot let future generations down’

Taking to Twitter, U.K. Prime Minister Boris Johnson argues world leaders will be remembered for what they achieve — or fail to achieve — at the COP26 summit.

— Chloe Taylor

02:42 am: What is COP26?

In 1992, more than 150 countries signed the United Nations Framework Convention on Climate Change (UNFCCC).

Every year, delegations from countries signed to the convention gather for the Conference of the Parties, known as COP.

The first COP was held in Berlin in 1995. More than 25 years later, the Scottish city of Glasgow is hosting COP26.

Watch the video below to find out what happens at COP and the role it plays in the fight against climate change. 

— Tom Chitty

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