NDCs fall “miles short” of emission cuts to meet Paris goals, UNFCCC warns
Existing national contributions to the Paris Agreement are unsurprisingly inadequate, at most leading to a mere 2.6% decline in global greenhouse gas emissions over the 2020s, according to a UN report released on Monday.
Read More1.5C climate goal slipping out of reach, UN warns ahead of COP29 summit
The goal of limiting global warming to 1.5C is slipping quickly out of reach, although it is still “technically possible” – and relatively inexpensive – for the world to roughly halve emissions within this decade, the UN Environment Programme (UNEP) warned on Thursday.
Read MoreDraft COP29 negotiating text sets out three options for global climate finance
The latest version of the new global climate finance goal due to be agreed at COP29 sets out three options for structuring the headline target, including the transfer of trillions of dollars per year from wealthy to poor countries, or a wider annual investment sum from public and private sources.
Read MoreFinancial GHG emissions accounting protocol steps up efforts in MENA region
An industry-led greenhouse gas emissions accounting protocol for financial institutions, used by public sector and civil society decarbonisation standards, is expanding into the Middle East and North Africa, it announced on Wednesday.
Read MorePanama freezes forestry permits due to high rates of deforestation
Panama’s Ministry of Environment has temporarily suspended all community forest use permits in two regions in response to a high rate of deforestation, it said over the weekend.
Read MoreBRIEFING: EU will push for more climate finance contributors and better transparency at COP29
The EU will go to Baku next month stressing the need to widen the base of contributors to a bigger global climate finance goal – including big emerging, and polluting, economies and greater private sector investment, according to agreements reached by ministers and parliamentarians ahead of the COP29 summit.
Read MoreShare of fossil fuel power falling to 50% across BRICS group, driven by Chinese solar -report
The share of coal-, oil-, and gas-fired power capacity in the BRICS countries could fall below half by the end of this year, as the development of wind, utility-scale solar, and other non-fossil fuel sources dominate the electricity pipeline across the emerging economies, according to research published on Tuesday.
Read MoreUN climate chief urges World Bank, IMF to step up efforts on climate finance
The United Nations climate chief is calling on the International Monetary Fund (IMF) and World Bank to take bigger steps to shore up climate finance and alleviate debt for developing countries during their annual autumn meetings next week.
Read MoreBRIEFING: EU looks to incentivise lower methane gas globally by pooling buyer demand
The European Commission’s plan to create a ‘You Collect, We Buy’ platform for the joint purchasing of gas and hydrogen should drive up demand for lower emissions fuel around the EU – and support the bloc’s efforts to tackle methane, according to a Brussels official.
Read MoreUK proposes capacity market changes to accommodate more renewables
The UK is seeking views on potential changes to its capacity markets scheme aimed at keeping flexible power capacity online while strengthening the security of supply and helping to push out unabated gas-fired power, the government announced on Tuesday.
Read More