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- Mon 22:12Day one of the Bonn intersessional (SB64) UN climate summit saw parties avoid major disputes over the agenda and resist the urge to reopen old negotiations, refocusing on implementation – though the COP31 co-presidents appeared to skate around transition away from fossil fuels.
- Mon 21:47The past month in climate litigation highlighted a widening divide between international and domestic climate law, as the former increasingly affirms that governments have an obligation to address climate change, while the latter are moving in the opposite direction, restricting avenues for relief against fossil fuel producers and high-emitting industries.
- Mon 16:51Premiums for insuring the carbon market could reach at least $1.8 billion by 2030 and up to $30 bln by 2050, claims a report.
- Mon 16:47Dimming the sun could soon move from theoretical science into mainstream political debate as the world seeks to combat the expected overshooting of the Paris Agreement's 1.5C warming goal – but the risks of rollout remain significant due to unintended consequences or misuse of the technology, experts say.
- Mon 16:25CORSIA futures stabilised after months of price declines, with benchmark contracts on ICE holding around the $10 per tonne mark last week as selling pressure appears to be easing, as participants appeared to have found on a floor amid demand uncertainty.
- Mon 16:06A flying start - Germany is planning to back the scale-up of sustainable aviation fuels (SAF) with €2 bln between 2030 and 2039, according to business daily Handelsbatt. During the International Aerospace Exhibition from June 10-14 in Berlin, the govt is set to outline support for SAF as well as other climate-friendly propulsion systems such as hydrogen. The govt is also reportedly planning to work with European partners to ensure the sector reduces its dependences on raw materials and fuel supply from outside of Europe.
- Mon 15:40The three UN negotiating blocs comprising mostly wealthy countries are collectively on track to fall short of their emission reduction pledges in the next decade, with emissions set to exceed the 2035 targets by nearly 20%, according to a study published on Monday.
- Countries are relying too heavily on bioenergy to reduce carbon emissions in their national Paris Agreement pledges, which spells bad news for forests and climate as huge swathes of land are eaten up for growing biomass, according to environmental and social justice groups.
- Mon 13:59India needs to add agriculture to its list of Article 6.2‑eligible activities, to tap into the country’s carbon credit potential and enter international compliance markets, a study found.
- Mon 13:58
Not quite aligned? - At the SB64 UNFCCC summit in Bonn on Monday, Turkiye's incoming COP31 President Murat Kurum and his Australian counterpart, COP31 President of Negotiations Chris Bowen, struck slightly different tones on fossil fuel transition. In remarks at the opening plenary, Kurum mentioned fossil fuels once, noting that in the context of unstable energy markets, it is “risky” to remain dependent on “imported fossil fuels”. In contrast – while also naming fossil fuel price shocks and the fragility of these supply chains – the Australian minister called for “less dependence on fossil fuels” full stop, without the "imported" qualifier. Notably, while both president-designates called for a reduced reliance on fossil fuels in some sense, it was unclear whether this referred to a transition away from fossil fuels, as per the COP28 UAE Consensus from 2023 – or merely to energy diversification.
- Mon 13:49At least four countries seeking to participate in carbon markets under Article 6.2 of the Paris Agreement have significant gaps in their governance, authorisation, and tracking systems, according to recent UN technical reviews.
- Mon 13:29A UN expert review of Tunisia's climate tracking report found "significant" inconsistencies and lacking transparency in the country's international carbon market arrangements, as well as its plans to set up a national carbon crediting registry, and to trade credits with Japan.
- Mon 13:27Six EU countries have urged Brussels to prioritise strengthening the international aviation sector’s carbon offsetting scheme CORSIA rather than extending the bloc’s carbon market to international flights.
- Mon 13:19Indian steelmakers with higher CO2 emissions are losing market share in the EU under the bloc's Carbon Border Adjustment Mechanism (CBAM), while cleaner producers have largely maintained their position, according to new research that showed the mechanism already appears to be working.
- Mon 12:42Airlines may need an easier climate target because “hope was fading fast” of meeting the net zero 2050 goal, an industry body has warned.
- Mon 09:45Maritime partners - OceanScore and Anglo-Eastern Univan Group are joining forces to support the shipping sector comply with the EU ETS and FuelEU Maritime regulation across vessels under Anglo-Eastern's management, according to a press release Monday. The sector is facing growing pressure to report on its GHG emissions, and this partnership aims to establish consistent data management processes, cost allocation, and regulatory reporting across a diverse fleet and ownership base.
- Mon 08:32UN observers anticipate that already-agreed initiatives, or ones conceived in parallel to formal COP negotiations, will shape the SB64 climate talks in Bonn this week and next – and that forward momentum on these fronts could itself be a determinant of the summit’s success.
