In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS Lombard, said that action on climate change is often criticized as moving too slowly. "Effectively by 2030 the cost of renewable electricity is going to be half that of coal and gas sourced electricity," Dumas told CNBC. COP26 prioritiesAmid this backdrop, the United Nations Climate Change Conference, better known as COP26, will meet in Glasgow in November. While the developing world, including several African nations, has great potential in developing sites for generating solar power, that power needs to move easily. Both in developed and developing countries, you can provide labor intensive employment through renewable energy," Steele said.

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