SB64: Vulnerable nations accuse negotiators of ‘de-linking’ science as finance pact risks being ‘dead on arrival’
Small islands and least developed countries accused some parties of attempting to weaken the role of science and sideline the 1.5C goal, warning that progress towards key climate finance commitments was faltering ahead of COP31 in Turkiye.Â
Read MoreResponsible use of Article 6 lacking in key buyer, seller countries -analysis
At least four countries using the Paris Agreement’s Article 6 carbon markets mechanisms risk undermining, rather than strengthening, global climate action, according to an analysis published on Tuesday.
Read MoreChina releases three-year plan to improve energy efficiency across key industries
China has released a three-year action plan for emissions-intensive industries to help meet its energy conservation and carbon reduction targets for this decade.
Read MoreMiddle East conflict gives Southeast Asia energy a wake-up call, says IEA
Southeast Asia’s energy system has been exposed as structurally vulnerable due to its reliance on imported fuels, a study said, as the Middle East conflict drives up costs and forces governments to put energy security at the centre of future policy.
Read MoreSB64: Developing countries unite in pushback on unilateral trade measures
A wide range of developing country negotiating blocs – from middle-income and fossil fuel-rich, to the poorest and smallest – voiced concerns and opposition to unilateral trade measures, like border carbon fees, in one of the UN’s first dialogues on climate-related trade issues.Â
Read MoreSB64: Santa Marta can help overcome fossil fuel transition “deadlock”, Colombian official says
The landmark Santa Marta process on transitioning away from fossil fuels can help overcome the “deadlock” in UNFCCC talks, a Colombian official said during mid-year talks in Bonn on Monday.
Read MoreVCM REPORT: CORSIA benchmark future settle below $10, SBTi recognises voluntary carbon credit use in new corporate standard
CORSIA futures were little changed last week, with benchmark contracts on ICE slipping below $10/tonne mark after stabilising in recent weeks following a prolonged decline.
Read MoreFEATURE: New SBTi corporate climate standard sets meaningful internal carbon pricing goalposts, say experts
The introduction of specific price anchors for companies choosing to set an internal carbon price under the newly released Science Based Targets initiative’s (SBTi) Corporate Net-Zero Standard, will help to ‘avoid race-to-the-bottom dynamics’ and provide viable financial support to many carbon projects, according to experts.
Read MoreBRIEFING: Global governments urge Brussels to simplify CBAM compliance rules
Governments around the world have urged the EU to simplify what they describe as overly prescriptive and complex requirements for complying with its Carbon Border Adjustment Mechanism (CBAM).
Read MoreG7 could still address fossil fuel reliance despite absence of climate on agenda, advocates say
Hopes that G7 countries will help to spur a shift from fossil fuels are dimmer this year, with the term ‘climate change’ omitted from the agenda – but campaigners are still hoping to see advancements through the prism of ‘energy security’.
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