Loss 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 MoreGold Standard broadens list of approved insurance policies for CORSIA to five
Gold Standard (GS) has added another insurance policy to the list of approved covers for CORSIA, the international aviation offsetting scheme, the registry announced Tuesday.
Read MoreNGO coalition urges DRC to halt plans to lift logging moratorium, warns of climate and governance risks
A coalition of more than 70 environmental, Indigenous rights, and human rights organisations has urged the Democratic Republic of the Congo (DRC) to abandon plans to lift its 23-year-old moratorium on allocating new industrial logging concessions, warning that the move would jeopardise climate commitments, undermine recent forest governance reforms, and expose vast areas of the Congo Basin to unsustainable exploitation.
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.
Read MoreICAO attempts to ward off criticism of CORSIA, urges member state cooperation
The International Civil Aviation Organization (ICAO) is warning against fragmenting carbon regulation for the global aviation industry ahead of the EU assessment of CORSIA due for publication this month.
Read MoreGhana must position carbon markets to address “everyday developmental problems” -lawmaker
Ghana needs to treat carbon markets as a tool for national development, and position itself as a regional hub for credible carbon credits that attract credible international investment, technology, and partnerships, parliamentarians said during a debate on the country’s carbon market framework.
Read MoreWorld Bank approves $265 mln for hydro project in Morocco, amid retreat from climate targets
The World Bank has announced a $265-million financing package to support a major hydropower infrastructure project in Morocco, just days after retiring its climate finance targets amid US pressure.
Read MoreEV sales in UK surge in June, but fall short of target needed for UK climate goals
New electric vehicle car sales in the UK surged in June to take 30% of the market, but still fell short of the government’s Zero Emission Vehicle (ZEV) mandate, data showed Monday.
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