COP29: Trump presidency could spell well for the voluntary carbon market, stakeholders say
While President Donald Trump’s re-election is expected to generally stifle US momentum on climate action, there may be avenues for increased voluntary carbon market (VCM) enthusiasm under his leadership, market participants told Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: One year in, global transition from fossil fuels hits stalemate in climate talks
Climate negotiators are struggling to agree on how to move forward with last year’s milestone commitment to transition away from fossil fuels, with emerging economies pushing to keep any reference out of this year’s COP29 agreement.
Read MoreCOP29: Pledge to boost global power storage, grids aims to support renewables rollout
The Azerbaijani COP29 presidency launched a series of pledges on Friday to boost clean energy storage and infrastructure globally and in the Caspian region, in support of last year’s commitment to triple renewables and double energy efficiency.
Read MoreCOP29: BRIEFING – Israel readies carbon tax to shield companies from CBAM
Israel is in the final stretches of preparing a tax on greenhouse gas emissions and air pollutants that parliament approved in September after years of debate in an effort to resolve a “significant market failure” caused when polluters don’t pay for their environmental damage.
Read MoreCOP29: UK pledges nearly £80 mln for clean energy, innovation in developing countries
The UK is pledging nearly £80 million of funding to help developing countries roll out clean energy and shift away from fossil fuels, with a package of support that it said will position the country as a clean tech innovation leader.
Read MoreUK prepares to ban new coal mines
The UK is poised to ban new coal mines, soon after becoming the first industrialised country to end coal-fired power generation, the government announced on Thursday.
Read MoreCOP29: Global climate finance needs to surpass $6 trillion per year by 2030, experts warn
External climate finance for developing countries, minus China, needs to triple to $1 trillion per year by 2030, and risks growing higher the longer it is delayed in this decade, an influential panel of experts warned on Thursday.
Read MoreCOP29: “Sprawling” climate finance text leaves little room for compromise
Negotiations over the new global climate finance goal remain wide open after the first COP29 draft dropped on Wednesday, described by observers as a “sprawling” and messy text, despite a subtle sign from China that it may be open to contributing.
Read MoreCOP29: UK praised for new 1.5C-aligned emissions target, but policies needed to make it reality
The UK will slash its emissions by 81% in the next decade under an updated Paris Agreement pledge, which many on Tuesday cautiously welcomed as a “shining example” of leadership at the start of tense COP29 negotiations while warning that it needs to be backed up with actual policies.
Read MoreG20 must strengthen Paris pledges, cut fossil fuels, in order to keep 1.5C alive -UN adviser
The next round of climate pledges from the world’s highest-emitting economies will ultimately determine the chances of limiting global warming to 1.5C, depending in particular on how far they go in pushing a transition away from fossil fuels, the UN’s special adviser on climate action said on Thursday.
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