The new COP29 proposal reveals a wide gap in climate financing
The United Nations Climate body published new options on Thursday for the COP29 Summit's primary objective of agreeing to how much money richer nations should provide poorer countries to help them combat climate change. The talks in Baku, Azerbaijan, have been slow to reach a consensus on money. The latest draft of the negotiation text was delivered several hours after the scheduled time, as the delegates entered the final 48 hours.
New proposals on COP29 Climate Finance Target Published
On Thursday, the United Nations climate agency published a new set of options to achieve the primary goal of the COP29 Summit: deciding how much money wealthy countries should give to poorer ones in order to help them combat climate change. The talks in Baku have been slow to reach a consensus on money. The latest draft of negotiating text was delivered several hours after the scheduled time, as the delegates began, in theory the final 48 hours of this event.
TotalEnergies and BP, Equinor, and Shell each commit $500 mln for energy access
TotalEnergies BP Shell Equinor, oil and gas giants BP and Equinor, pledged to invest $500m on Friday in order to increase the availability of affordable energy, primarily for sub-Saharan Africa and south and southeast Asia. The announcement was made at the United Nations COP29 Climate Summit in Azerbaijan where discussions have focused on raising $1 Trillion in climate finance to assist developing countries from richer nations.
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-year period, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan. Indonesia, which is one of the biggest emitters of greenhouse gases in the world…
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies implemented by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove…
Methane emissions are a threat to climate goals
Scientists and policymakers are urging aggressive action to reduce the production of methane, a powerful greenhouse gas. Nearly 160 nations have committed to reducing methane emission levels by 30% from 2020 levels by the end this decade. The 2024 Global Methane Budget Report states that atmospheric methane has risen the fastest in the past five years since records began in 1970, largely due to natural sources.
Egypt reiterates its 42% renewable energy target for 2030 but calls on international assistance
The Egyptian government still aims to have renewable energy make up 42% of the mix for electricity generation by 2030. However, this goal is at risk if international support does not increase, said Prime Minister Mostafa Mdbouly on Tuesday, speaking at the COP29 Conference. According to a cabinet report from July, the current share of solar, wind and hydropower in Egypt's power generation is only 11.5%.
Starmer sets new climate goal for 2035 at COP 29
Keir starmer, the British Prime Minister, said that Britain will cut greenhouse gas emission by 81% between 2035 and 2040. He made this commitment at the United Nations COP29 Climate Summit. The new goal aligns with a committee's recommendation. Climate advisers said last month that the target should be higher than the current 78% reduction in emissions measured from 1990 levels. Starmer said at a press event at the climate gathering held in Baku…
As Biden's term ends, the US introduces a methane tax on gas and oil emitters.
The U.S. administration of President Joe Biden finalized on Tuesday a fee for large oil and gas companies to reduce emissions of this powerful greenhouse gas. However, the incoming Trump presidency is likely to scrap the fee. The methane tax is one of the last measures taken by the administration to combat the second most common greenhouse gas, after carbon dioxide. This gas tends to leak undetected into the atmosphere from drilling sites…
How methane threatens climate goals
Scientists and policymakers are urging aggressive action to reduce the production of methane, a powerful greenhouse gas. Nearly 160 nations have committed to reducing methane emission levels by 30% from 2020 levels by the end this decade. The 2024 Global Methane Budget Report states that atmospheric methane has risen the fastest in the past five years since records began in 1970, largely due to natural sources.
UN chief warns at COP29 that if you don't pay up, the climate will lead to disaster for humanity.
At the COP29 Summit on Tuesday, United Nations Secretary General Antonio Guterres urged world leaders to "pay up", in order to prevent climate-driven humanitarian disasters. He also said that time was running short to limit a destructive increase in global temperatures. Nearly 200 countries have gathered in Baku for the annual U.N. Climate Summit. This year, the summit is focused on…
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-years, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan. Indonesia, which is one of the biggest emitters of greenhouse gases in the world…
UN says current climate pledges fall far short of Paris goals
The United Nations stated on Monday that national pledges to reduce greenhouse gas emissions are still far below what is required to limit catastrophic global heating. In its annual report, the United Nations Framework Convention on Climate Change said that the "nationally determined contribution" (NDC) already submitted to the U.N. by countries is enough to reduce global emissions by 2,6% between 2019 and 2030. This is up from 2% the previous year.
Sources say that Brazil is aiming to attract foreign investment through a green development platform.
Brazil will launch a new platform on Wednesday to attract more foreign investment into sustainable development. The platform will highlight $8 billion worth of promising private sector projects, and look to triple this portfolio within a year. Four Brazilian officials who spoke anonymously about the program before a Washington launch event, held on the sidelines the meetings of the International Monetary Fund (IMF) and World Bank…
Colombia and Ecuador battle to protect vital wetlands during drought
As water and energy restrictions hit both countries, rural communities in Colombia and Ecuador fight to protect fragile high altitude wetlands which regulate the area's waters cycles. Scientists say that climate change and human activity have exacerbated the effects of El Nino, which has led to drought in Colombia and Ecuador. The grassroots activists of the two countries have worked…
Think tank: China could reduce CO2 emissions by a third with new UN targets by 2035
A Thursday report by an environmental think-tank suggested that China's carbon dioxide emissions, which contribute to climate change and are a major contributor to global warming, could drop by a third in 2035 if the country makes more ambitious commitments at the United Nations. In order to meet their Paris obligations, countries must submit new and stronger "nationally defined contributions" (NDCs), to the U.N. before February in order to set goals for 2035.
What are the main issues in Mozambique's elections?
Next week, Mozambicans are voting in legislative and presidential elections. It is almost certain that the Frelimo Party will extend its half-century in power. The party has been fighting a longstanding Islamist insurgency within one of Africa's biggest gas fields. Daniel Chapo is the candidate of the ruling party and a former law professor. He will replace Filipe Nyusi, who was previously a radio announcer.
Companies call on world leaders to meet renewable energy targets
On Monday, executives from major companies urged leaders to implement an international agreement made at the COP28 Summit in Dubai last year to triple renewable energy capacity by 2030, to combat climate change. The statement was made at a side event to the United Nations Climate Week, in New York. Companies like Amazon.com, a massive energy user and power producers such as Vestas and Iberdrola were among those who issued it.
Four states join forces to build an interconnector for Azeri windfarms
Azerbaijan formed a joint-venture company with Georgia, Romania, and Hungary on Tuesday. The aim is to build an interconnector undersea across the Black Sea to connect planned Azeri Windfarms with Europe. Green Energy Corridor Power Company, based in Bucharest, Romanian capital will oversee the construction of a 1,000 megawatt cable that runs 1,100 km (685 miles) from Azerbaijan into Romania.
After historic oil vote, little progress in Ecuador's Amazon
In the Amazon, on August 20, 2023, almost 60% of the population voted to keep crude oil in the ground. Environmentalists and Indigenous Communities hailed the referendum as a historic victory for protecting one of the most biodiverse areas of the planet and a rare instance of the shift away from fossil fuel based economies. The Amazon rainforest is vital in slowing climate change because it absorbs huge amounts of carbon dioxide.
