It was never going to change the problem of global warming overnight, but the COP26 climate summit did have some achievements under president Alok Sharma (pictured above).
Firstly, it was probably the highest-profile climate summit in history. It re-iterated the acceleration needed by governments, businesses and the public to hit net-zero carbon emission targets over the next couple of decades.
It was also the first event to categorically state an intention to phase down the use of coal – it would have been phase-out but for interventions from India and China.
It also called for more urgency to cut emissions, and it finally set global carbon market trading rules after six years of negotiations. Indeed, nearly 200 countries have now agreed to implement Article 6 of the 2015 Paris Agreement, allowing nations to partially meet their carbon emission targets by buying offset credit representing emission cuts by others.
In short, it could mean a heavy-emitting country like Brazil buying credits to fund the building of renewable energy plants or carbon storage of gas captured domestically or around the world.
Here are three stocks set to benefit from the COP26 Glasgow Climate Pact:
Shares in lithium-metal battery maker QuantumScape [QS] have nearly doubled since mid-August to sit at $33.86 at the close on 18 November. COP26 declarations on reducing carbon emissions and accelerating the transition to zero-emission vehicles boosted the shares. COP26 also pledged to help more developing nations move to electric vehicles (EVs).
QuantumScape, whose solid-state lithium-metal batteries promise to double the range of EVs, has also been driven higher by US president Joe Biden's $1.2trn infrastructure bill, which the US House of Representatives passed. It includes a $7.5bn spend on building an EV-charging network of 500,000 chargers across the country.
The Biden infrastructure bill's EV-charging network budget
The Volkswagen-backed QuantumSpace has also set up a new manufacturing hub in San Jose, California, encompassing its pre-pilot production line to get its battery closer to commercialisation and a research-and-development space.
It has also recently signed a deal with an unnamed top global car company to test its advanced battery prototypes, reported The Motley Fool.
Aker Carbon Capture
Shares in Norway's Aker Carbon Capture [ACC.OL] have almost tripled since March and are likely to continue climbing, given the urgency to cut carbon emissions and move away from coal to clean energy. Aker uses modular plant technology to help companies in heavy-emitting sectors like cement, coal power plants and oil reduce their carbon outputs.
It recently signed a deal with Viridor, one of the UK's leading recycling and waste management firms, to potentially look at installing five modular carbon capture plants at its waste-to-energy sites. Viridor wants to become the first net zero-waste company by 2040 and hopes the Aker technology could bring that dramatically forward to 2030.
Shares in water infrastructure group Xylem [XYL] have flowed 36% higher since the start of February this year, thanks to growing global demand for its water management and infrastructure services. One key COP26 declaration focused on increasing investment in agricultural innovation.
Xylem share price increase since February
Xylem offers several agricultural-related services, including irrigation to battle water scarcity problems in increasingly drought-hit areas of the world and biogas collection systems. It is also seeing strong demand for its smart water management systems to prevent leakages.
Its digital solutions offering, Xylem Vue, also help prevent sewer outflows for utilities and minimises energy usage in wastewater networks.
It recently posted a 4% climb in third-quarter revenues to $1.27bn and orders growth of 22%.
"Global demand for water solutions continues to be robust across our business," said Patrick Decker, Xylem's president and CEO.
Green stocks can expect to see more business coming their way post-Glasgow and as the globe strives to hit global warming and net-zero targets before it is too late.