Treasurer warns of risk to Australia’s financial system from lack of climate action
Australia could risk losing access to international finance if it is perceived to lag on climate action, Treasurer Josh Frydenberg said Friday, but stopped short of committing to a 2050 net zero target.
Read MoreSouth Africa adopts deeper 2030 emissions target, Sasol aims for net zero
South Africa’s cabinet has adopted a slightly more ambitious nationally-determined contribution (NDC) to the Paris Agreement, going further than an initial draft, as one of the nation’s biggest emitters commits to net zero and boosts near-term goals.
Read MoreVoluntary offset taskforce names governance board, promises indigenous representation
The private sector Taskforce on Scaling Voluntary Carbon Markets (TSVCM) announced its governance body on Tuesday, adding that it was on track to deliver next year standardising tools being designed to help dramatically increase the volume of carbon credit transactions.
Read MoreNational oil companies join pledge to reach net zero operational emissions
Brazil’s Petrobras and Saudi Aramco have joined ten other oil and gas companies in aiming for net zero Scope 1 and 2 emissions, though the pledge did not include setting a date for when the goals would be reached.
Read MoreUS, EU ink methane pact in push to help get COP26 climate summit back on track
The US and EU have jointly pledged to slash their methane emissions, in an internationally coordinated move seen as a significant step ahead of next month’s UN climate talks, which observers warn are at risk of faltering.
Read MoreCARBON FORWARD 2021: Amid global carbon credit boom, experts gather to discuss risks, opportunities
The sixth instalment of Carbon Forward – the premier annual environmental markets conference – is back, and it’s stacked with a first-class line-up of speakers to discuss the global boom in carbon credit prices, as well as government- and corporate-led efforts to scale up these markets.
Read MoreUN says world on pathway to 2.7C of warming despite Paris targets
Global GHG emissions will be 16% higher in 2030 than they were in 2010 – levels aligned to 2.7C of warming – even if all nationally-determined contributions (NDCs) submitted under the Paris Agreement are fully achieved, according to a UN updated NDC synthesis report released Friday.
Read MoreEU chief urges China to raise 2030 emissions pledge, proposes climate aid increase
China should raise its near-term emissions pledge while others need to flesh out how their goals will be met, said European Commission President Ursula von der Leyen on Wednesday, proposing an increase in the EU’s climate finance to poorer nations.
Read MoreArgentina makes plea for debt-for-climate swaps ahead of COP26
Argentina wants to trade climate action for debt relief, President Alberto Fernandez told a virtual high-level dialogue on climate action on Wednesday.
Read MoreChina, US climate talks fail to inspire confidence ahead of Glasgow
The US special envoy on climate, John Kerry, on Friday left China after several days of talks, but the absence of a joint statement at his departure leaves little reason for optimism ahead of the Glasgow COP26 UN climate negotiations in November, observers say.
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