Nature summit musters more than $14 bln for land restoration
Governments and development banks have pledged more than $14 billion over the next four years to restore 100 million hectares of land in northern Africa, an effort that would store an estimated 250 million tonnes of CO2.
Read MoreIEA promises net zero global energy roadmap, warns of post-pandemic GHG rebound
The IEA plans to publish a roadmap for how the global energy sector can reach net zero emissions by 2050, it announced Monday, while flagging that GHGs were set to rebound from pandemic-induced drops seen this year.
Read MoreUK government reshuffles climate ministers with an eye on COP26 summit
The UK government shuffled its climate ministers on Friday, with Business Secretary Alok Sharma stepping down from that post to focus full time on his role as president of the upcoming UN climate summit.
Read MoreANALYSIS: Climate ambition gap following Paris NDC deadline leaves task to major emitters
Most countries have missed a year-end deadline to update and enhance their GHG reduction commitments as the Paris Agreement took effect on Jan. 1, putting more focus on the need for greater climate ambition from large emitters this year to help close the gap to achieving the pact’s temperature goals.
Read MoreBRIEFING: International emissions trading pilots see fourfold funding gain ahead of Paris rulebook
Governments have committed $1.37 billion towards international emissions trading pilot programmes to help meet Paris Agreement goals, according to a report that charts a fourfold rise in finance inside 18 months.
Read MoreGreen group EDF sees legitimate role for international offsets
International offsets can make a legitimate contribution to voluntary climate action, according to green group EDF, which set out key principles on Thursday that contrast with other campaigner calls to end the practise in an increasingly uncertain sector.
Read MoreNGO call to end use of international offsets meets with resistance
An NGO proposal to replace international offsetting with climate finance in order to avoid double claiming has been met with resistance from some in the voluntary carbon market, who fear a lack of corporate interest.
Read MoreIndonesia, Costa Rica sign World Bank REDD deals as remaining deadlines extended
Indonesia and Costa Rica last week inked agreements with the World Bank Forest Carbon Partnership Facility (FCPF) to reduce deforestation-related emissions, while the other tropical forest nations with outstanding arrangements will receive additional time to sign the deals seen as a possible base of international carbon trading.
Read MoreUN strikes compromise CDM deal in effort to avert shutout ahead of Paris decision
UN officials agreed on Monday “temporary measures” intended to maintain the CDM into 2021 and serve as a stopgap until countries can decide whether the offset mechanism can transition into the Paris Agreement era.
Read MoreChina announces modest rise in near-term climate ambitions, saves real work for later
President Xi Jinping announced new, tougher 2030 targets for China’s climate change policy, though the adjustments to its previous Paris Agreement pledge were modest and did not include an absolute cap on greenhouse gas emissions.
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