Azerbaijan’s climate leadership questioned over human rights, reliance on gas
The European Parliament voted a resolution on Thursday questioning the choice of hosting the United Nation’s upcoming COP29 climate summit in Azerbaijan, a country it accuses of human rights violations and whose revenues come chiefly from the extraction of natural gas.
Read MoreOil and gas exploration expected to rise despite COP28 commitments
Oil and gas exploration licensing is set to surge despite COP28 pledge to phase out fossil fuels, according to a new report.
Read More1.5C climate goal slipping out of reach, UN warns ahead of COP29 summit
The goal of limiting global warming to 1.5C is slipping quickly out of reach, although it is still “technically possible” – and relatively inexpensive – for the world to roughly halve emissions within this decade, the UN Environment Programme (UNEP) warned on Thursday.
Read MoreInternational organisations including WTO, IMF unveil framework to standardise approach to carbon pricing
A coalition of leading international organisations, including the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank, has introduced a new framework to standardise carbon pricing metrics, aiming to improve transparency and enhance global climate action.
Read MoreDraft COP29 negotiating text sets out three options for global climate finance
The latest version of the new global climate finance goal due to be agreed at COP29 sets out three options for structuring the headline target, including the transfer of trillions of dollars per year from wealthy to poor countries, or a wider annual investment sum from public and private sources.
Read MoreBRIEFING: IMF falls short on climate finance and needs reforms, world leaders say
Leaders of countries most vulnerable to the impacts of climate change called on the International Monetary Fund (IMF) to reform its programmes to better support climate resilience and sustainable development during a panel Tuesday.
Read MoreCOP29 finance goal “difficult to wrestle to the mat”, former US envoy says
The Obama administration’s special envoy for climate said Tuesday that pinning down a number to succeed the existing $100 billion climate finance goal during the upcoming COP29 summit will be “very difficult to wrestle to the mat”.
Read MoreBRIEFING: EU will push for more climate finance contributors and better transparency at COP29
The EU will go to Baku next month stressing the need to widen the base of contributors to a bigger global climate finance goal – including big emerging, and polluting, economies and greater private sector investment, according to agreements reached by ministers and parliamentarians ahead of the COP29 summit.
Read MoreInvestors keeping away from carbon credits while funding climate technologies, conference hears
Investors including multilateral organisations are keeping their distance from carbon credits due to the volatile nature of the market while funding technologies to accelerate climate action, a conference heard Tuesday.
Read MoreEU lawmakers call on COP29 leaders to phase out fossil fuels, expand carbon pricing
The European Parliament’s environment committee (ENVI) is calling on all countries to commit to phase out fossil fuels and adopt carbon-pricing mechanisms worldwide when they meet at COP29 next month.
Read More