Researchers urge rethink of Paris ‘well below 2C’ target interpretation to avoid ambition drift
Climate researchers have proposed a new way of interpreting the Paris Agreement’s commitment to keep global warming “well below 2C”, arguing that the widely used practice of expressing the target as a probability of staying below the threshold could gradually weaken climate ambition as scientific uncertainty declines.
Read MoreInternational think tank publishes simulator to support governments designing carbon market frameworks
An international advisory company and think tank announced on Tuesday a new scenario-based simulation model to help governments designing their own carbon market frameworks.
Read MoreUtilities giant flags water scarcity, waste management as key nature-related business risks under TNFD
A French-headquartered utilities company has identified water withdrawals, resource regeneration, and hazardous waste management as some of its most material nature-related dependencies, impacts, and financial risks in its latest Taskforce on Nature-related Financial Disclosures (TNFD) assessment.
Read MoreMajor AI governance frameworks ignore risks to nature
Two influential blueprints for governing Artificial Intelligence cover national security, job security, and human freedom, but fail to address AI’s vast potential to accelerate resource extraction and the destruction of nature, a campaign group said during the UN’s inaugural dialogue on AI governance in Geneva this week.
Read MoreLoss and damage funding gap exposes climate finance tensions ahead of Manila meeting
Underfunding of the Loss and Damage fund risks bleeding into broader UN climate negotiations, hardening developing countries’ reluctance to raise mitigation ambition without matching finance, experts warned ahead of a critical meeting this week.
Read MoreGlobal gas demand sees little impact from Middle East war, as LNG supply bounces back
Global gas demand will only slip marginally this year despite the US and Israel war with Iran, and the impact on LNG supply will be offset by the end of the year, according to the International Energy Agency (IEA).
Read MoreAirline retires second tranche of CORSIA credits, taking total to 250k
An Asian airline has retired another 100,000 carbon credits to meet its obligations under the aviation sector’s international offsetting programme, taking its recent total to 250,000 tonnes after the second tranche.
Read MoreMacao carbon exchange launches spot contracts for CCP-labelled credits
Macao International Carbon Emission Exchange (MEX) has listed spot contracts for Core Carbon Principles (CCP)-labelled credits, it announced Monday.
Read MoreClimate Litigation Roundup: Fossil fuel cases move from companies to the rules that enable growth
Climate litigation this month focused heavily on the rules and approvals that shape fossil fuel growth, as claimants challenged gas projects, clean air waivers, liability shields, carbon offsetting, and corporate transition claims, and new research found a persistent accountability gap for the companies most closely tied to historical emissions.
Read MoreVCM REPORT: CORSIA edges back to $10/t ahead of EU assessment, analysts revise down demand outlook
Benchmark ICE CORSIA futures bounced back towards $10/t last week, climbing from two-year lows, as the European Commission’s assessment of the international aviation offsetting scheme that will affect the participation of EU carriers inches closer.
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