Environmental experts have labelled the U.N.'s latest report, warning of climate change-related destruction, as humanity's "final wake up call". Environmentalists spoke Tuesday to CNBC about the roles that individuals, companies, and countries can play in addressing the crisis. They also expressed their hopes for the 26th UN Climate Change Conference of the Parties (known as COP26) in November. On Monday, the highly anticipated report by the U.N. IPCC climate panel warned that efforts to limit global warming to less than 1.5 degrees Celsius (or even 2 degrees Celsius) above preindustrial levels "will not be possible" without rapid, large-scale and immediate reductions in greenhouse gas emission.Implementing 'ambitious action now'It will be challenging but possible to meet the 2050 temperature targets set by policymakers, according to Emily Kreps (global director of capital markets at CDP), a non-profit that helps companies manage their climate impacts. She said that it would take "ambitious actions now" by companies, governments, and capital markets.This should be considered our last wake-up call. Emily Kreps, global director of capital market, CDPGlobally, the 1.5 degree Celsius threshold set out in the report is crucial because above this point, so-called tipping factors become more likely. Tipping points are a permanent change in the climate system that locks in more global warming. Kreps said that this should be considered our last wake-up call and encouraged companies to set "concrete, specific targets".Ulka Kelkar (director of climate at World Resources Institute India) agreed that the pace must "accelerate quickly." For example, the phasing out fossil fuels and the implementation of renewable energy must happen at five times their current pace. She said that the pace of development of sustainable technologies must be increased in the meantime. This is particularly important in India and other developing countries that have the opportunity to avoid environmentally harmful practices. She told "Street Signs Asia" that "Over here, we must think one step ahead, we need leapfrog." She explained that more renewable energy is needed to produce hydrogen on a large scale. This can be used in all industries, from fertilizers to chemicals to steel production.Expectations for the COP26This report is coming as extreme weather events across the globe have caused havoc. Floods have ravaged Europe, China, and India in the last few weeks. The U.S., Canada and Greece have been also ravaged by wildfires. According to Mans Nilsson (executive director of Stockholm Environment Institute), the UN report "unambiguously" states that these events were connected to climate change and human influences on climate.Developed countries must (need) to seal the deal on a long-overdue package of climate finance. Ulka Kelkar, director, World Resources Institute India
