COP29: EU under fire as climate finance talks continue to struggle
The European Union is risking its influential role in global climate diplomacy, as UN negotiations for the so-called ‘finance COP’ enter second week in Baku with the bloc not yet committing publicly to a specific contribution figure.
Read MoreCOP29: Trade issues complicate talks as countries call for EU CBAM to be simplified
The EU’s carbon border adjustment mechanism (CBAM) is adding tensions to already difficult negotiations at COP29 in Baku, with top government officials telling Carbon Pulse that the European Union should be more flexible with the policy.
Read MoreCOP29: Developing countries need much more grant-based finance than previously estimated, study claims
Developing countries need up to $1.5 trillion per year of solely grant-based climate finance as they struggle to attract investment and cope with growing debt, according to a new study that claims previous estimates are far too low.
Read MoreCOP29: IEA considers buying clean cooking carbon credits, Verra unsure on ambition level in UN methodology
The International Energy Agency (IEA) is interested in purchasing clean cooking carbon credits, a representative confirmed Monday at the COP29 climate summit, while a senior member at Verra said the voluntary standard remained in a wait-and-see stance for a new UN-backed methodology for the sector.
Read MoreLATAM Roundup: Countries highlight carbon pricing at COP29, but Brazilian NBS keeps spotlight
Several Latin American countries have made carbon pricing announcements at and around the COP29 UN climate conference in Baku, but subnational Brazilian deals involving nature-based solutions (NBS) – and the Senate’s long-awaited ETS passage – continue to dominate headlines.
Read MoreAustralia Market Roundup: Some 800K ACCUs issued as spot price continues to climb
Spot market Australian Carbon Credit Unit (ACCU) prices surged on Monday, as the Clean Energy Regulator issued some 800,000 units.
Read MoreCOP29: “Dark vessels”, oil and gas under-reporting fuelling unrelenting rise in global GHG emissions -data
“Dark vessels”, or ships that disable their tracking systems, are responsible for at least 7% of global maritime emissions, secretly releasing more than 80 million tonnes of CO2 annually, while unfettered methane output from the oil and gas sector is contributing to the unrelenting rise in global greenhouse gas emissions.
Read MoreCOP29: Roundup for Day 6 – Nov. 16
It is Day 6 at COP29 in Baku – Science Day. It’s the final day negotiators have with the texts before they’re handed over to the presidency and appointed ministers, although not much progress is expected on finance in the next 24 hours. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).
Read MorePREVIEW: Experts call for ambitious NDCs to spur investment, hope G20 summit will ease COP pressure
On the eve of a G20 meeting in Rio do Janeiro on next week, business groups and a Brazilian national official called for developing countries to submit ambitious national climate plans to elicit greater investment, while observers said the summit in Brazil could ease parallel finance negotiations at the UN climate summit in Baku.
Read MoreCOP29: US House Republicans arrive to pitch LNG, nuclear in conservative climate agenda
Republican members of Congress arrived at COP29 in Baku Saturday to pitch US natural gas and nuclear energy as decarbonisation solutions for the world, underlining that exports can help increase energy security and decrease costs.
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