(Bloomberg) -- Top executives, policy makers and investors are gathering this week for the two-day Bloomberg Green Summit. The virtual event focuses on the core issues of climate change.

Today’s lineup includes Canadian Prime Minister Justin Trudeau, former Bank of England Governor Mark Carney and QuantumScape Corp. co-founder Jagdeep Singh. The discussions will focus on topics ranging from reducing emissions to real estate and batteries.

The conference kicked off Monday with speakers such as former U.S. Vice President Al Gore, who said the global fight against climate change is accelerating and reaching a “political tipping point right now.”

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Carney Says Banks Will Be Judged on Decarbonization Efforts (9:45 a.m. NY)

The financial-services sector will play a crucial role in facilitating the transition to a world of net-zero emissions, but the industry also must ensure that its carbon footprint is decreasing, said Mark Carney, United Nations special envoy for climate action and finance.

“Part of your job is to judge which companies are going to decarbonize and whether to back those companies with investments or loans, but you too will be judged and you need to get your own house in order,” said Carney, who’s also vice chair and head of impact investing at Brookfield Asset Management.

He said the Glasgow Financial Alliance for Net Zero, an initiative he spearheaded that brings together more than 40 global banks including Morgan Stanley and Citigroup Inc., is committed to reducing pollution from investment and financing portfolios. The initiative is part of the UN’s Race to Zero campaign and is considered “the gold standard” for net-zero commitments.

Carney said COP26 in Glasgow will be a crucial moment to assess the private sector’s involvement in the low-carbon transition. An analysis of emissions reductions by governments also will make it a milestone event, he said.

“The objective for Glasgow, first and foremost, is to keep the one and a half degree temperature rise within reach,” he said.

Trudeau Says Canada Will Meet Emissions Goal (9 a.m. NY)

Justin Trudeau defended Canada’s climate record against criticism its emissions targets aren’t ambitious enough, arguing his government’s carbon tax represents a more concrete plan.

The prime minister vowed the country will be able to reach its new goal of reducing emissions by between 40% and 45% of 2005 levels by 2030 -- despite missing previous targets. Central to that plan is a carbon tax, which got a major boost last month when it was upheld by a 6-3 majority at the Supreme Court of Canada, effectively settling years of heated political debate.

“The fact that we have one of the realest prices on pollution of all our peer countries and that we are at the same time an exporter of energy and a producer of energy -- that is a challenge that not all other countries have,” Trudeau said.

Trudeau has been facing increased scrutiny since the release of data two weeks ago showing Canada is the only country in the Group of Seven to see its harmful emissions rise between 2015 and 2019.

Trudeau said Joe Biden’s arrival to the White House means the U.S. and Canada are more aligned on climate policy, even if friction remains over specific projects like Enbridge Inc.’s existing Line 5 conduit under the Great Lakes. A cross-border plan that cuts across all sectors of the economy is critical for both countries, the prime minister said.

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