Transition Plan Taskforce sees momentum in reporting and disclosure on climate, as it bids goodbye
More companies than ever are disclosing their plans for transitioning to net zero emissions and aligning their strategies accordingly, with financial institutions increasingly using these plans to drive investment towards sustainable solutions, the Transition Plan Taskforce (TPT) found in its final report as it closed shop on Thursday.
Read MoreAlliance of asset owners trims annual emissions and sets near-term targets
An alliance of large asset owners committed to reaching net zero has so far cut emissions by an average 6% per year since launching, with most members setting decarbonisation targets for 2025 in line with the Paris Agreement goals, according to the group’s latest progress report.
Read MoreUK to impose CBAM from 2027 to protect heavy industries
The UK will introduce a Carbon Border Adjustment Mechanism (CBAM) in 2027 for the six sectors it deemed to be most at risk of carbon leakage, down from eight initially proposed, the government said on Wednesday.
Read MoreOmbudsman says International Finance Corporation’s emissions rules are too weak
The World Bank Group’s International Finance Corporation (IFC) is failing to enforce its own greenhouse gas emission requirements with clients, which already fall short of what is needed to meet the Paris Agreement’s 1.5C temperature goal, the finance institution’s ombudsman warned.
Read MoreUK puts billions towards carbon capture, nuclear, clean energy, and prepares for CBAM
The UK government will put billions of pounds into carbon capture, utilisation, and storage (CCUS), nuclear power, hydrogen, renewables, zero-emission vehicles, and sustainable agriculture over the next fiscal year, and plans to introduce a carbon border tax on imports from 2027, Chancellor Rachel Reeves announced on Wednesday.
Read MoreVoluntary carbon registries can foster healthy competition once Article 6.2 registry starts up -UN expert
Independent carbon credit registries will continue to play a role, and foster healthy competition, even after a centralised UN registry is created under Article 6.2 of the Paris Agreement, according to a member of the UN group mandated to determine the international carbon market rules.
Read MoreNew surety bonds product aims to protect and boost investments in low-carbon projects
A French issuer of trade credits has introduced a product that issues surety bonds and guarantees for low-carbon technologies and renewable energy projects, and holds the premiums as investments in certified green bonds, it announced on Wednesday.
Read MoreAsset manager launches carbon removal fund to help institutional investors tap in
A London-based asset manager is launching a carbon removal fund to give institutional investors access to solutions that can deliver investment returns and help them reach net zero emissions, it announced on Tuesday.
Read MoreAnalysts cast doubt on Scottish CCS project’s claimed emission cuts
The lifetime emissions of a project to add carbon capture technology to a gas-fired power plant in Scotland could be three to five times higher than reported by the developer, according to estimates by a climate think tank.
Read MoreUAE pilot project makes cleaner steel from renewable hydrogen
The United Arab Emirates’ state-owned renewable energy developer and a steel company have completed a pilot project demonstrating the potential for using green hydrogen to produce cleaner steel, they announced on Monday.
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