Paris Agreement News

₹400 per tonne on domestic and imported coal are all emission charges. The government is also working towards a Carbon Credit Trading Scheme (CCTS), which is expected to accelerate our adoption of market-based price discovery for emissions. Nevertheless, carbon prices in India and the EU are unlikely to converge, since the determination of a carbon price is linked to the emission-reduction obligations of each country; these differ.

The fund’s investment universe will span Thematics AM’s five strategies – namely AI and robotics, safety, the subscription economy, water and wellness – with a portfolio of 40-60 holdings.

The Commission is concerned about the negative environmental impact caused by excessive power consumption generated by the crypto industry. "The increasing demand for crypto-assets and expansion of crypto-mining, including within the EU, could undermine EU's efforts to achieve its climate and sustainability goals, in line with the Paris Agreement," states the tender document.

Sultan Al Jaber, president of the 28th Climate Change Conference (COP28), said the first pillar of this year's COP action agenda, aims to eliminate 22 gigatons of greenhouse gas emissions in the coming 7 years to meet the 1.5 degrees Celsius warming target. In a speech at the UN Climate Ambition Summit in New York, Al Jaber reminded the international community that "we are not powerless" to overcome the climate crisis and urged the world to "get after gigatons." He highlighted recent data from the first Global Stocktake, which confirmed that "the world is falling short, and we are running out of time," but was emphatic in stating that it is not too late to change course.

The world is tracking towards 2.5 degrees warming by 2100 and a massive 50 per cent increase in global capital investment is needed to put it on course for net zero emissions by 2050, and to cap warming at the most ambitious goal of 1.5 degrees in the Paris Agreement.

G20 presidency has been a resounding success. With 112 outcomes and documents, India's presidency more than doubled the substantive work done under other presidencies.

climate action funding in trillions of dollars instead of billions, pursue efforts to reach net zero target commitment by mid-century, triple renewable energy capacities by 2030 and reduce inefficient fuel subsidies in line with national circumstances, said the G20 New Delhi Declaration. In a major shift in climate finance vocabulary, the declaration quantified the sum required for developing countries to implement their climate goals by 2030 under Paris Agreement, $5.8-5.9 trillion, and an additional $4 trillion per year for clean energy technologies by the end of this decade to reach net zero emissions by 2050. This is said to be the first such quantification on climate finance at the G20. «In this regard, it is essential to align all relevant financial flows with these objectives while scaling up finance, capacity building and technology transfer on voluntary and mutually agreed terms, taking into account the priorities and needs of developing countries,» the declaration said as part of the 'Green Development Pact for a sustainable future'. Multilateral banking reforms and blended climate finance models apart, a multi-year G20 Technical Assistance Action Plan (TAAP) is envisaged to address data related barriers for climate investments. It also urged parties to set «an ambitious, transparent and trackable New Collective Quantified Goal (NCQG) of climate finance in 2024, from a floor of $100 billion a year», taking into account the needs and priorities of developing countries in fulfilling the objective of the UNFCCC and implementation of the Paris Agreement. On the long awaited $100 billion Green Climate Fund goal, the declaration said it will be met for the first time in 2023 by developed country contributors. «Recall

global warming. The moment calls for addressing both issues. We believe that jump-starting sustainable and inclusive growth can improve the quality of life for people and be of aid to the planet.

Exxon Mobil sees the world failing to reduce emissions fast enough to limit global warming to 2C (3.6F) above pre-industrial norms by 2050 due to soaring economic growth, particularly in developing countries.

Politicians and environmental leaders from more than 180 countries have been in Vancouver, B.C., this week, with many pledging to accelerate action on climate change and biodiversity loss at the assembly of the Global Environment Facility.

European Union nations are resisting an updated climate pledge showing the bloc is on course to over-deliver on emissions cuts ahead of COP28, in the latest sign of concern over the pace of the green transition. The European Commission, the bloc’s executive arm, is aiming to submit by September a revised pledge showing it’s on course to slash carbon emissions by 57% by 2030, according to a draft document seen by Bloomberg. But Poland, Lithuania, Hungary, Italy, Slovakia and Romania are concerned that the figure — higher than the 55% targeted under the bloc’s green deal — is too ambitious, according to people familiar with the matter.

This summer, parts of the United States are wilting under a multi-month stretch of sweltering heat and data suggests that summer temperatures will continue to creep up in the coming years. The planet is on what seems to be a pretty clear path to soon reaching 1.5 degrees Celsius of warming for the first time since preindustrial times, a milestone number that the world’s countries pledged to try to remain under in the 2015 Paris Agreement. 

New Delhi: The COP28 UAE Presidency and the International Energy Agency (IEA) convened the first in a series of high-level dialogues in the run-up to COP28 around building a 1.5°C-aligned energy transition. The initiative is being carried out in collaboration with the International Renewable Energy Agency (IRENA) and will be supported by the United Nations Framework Convention on Climate Change (UNFCCC). The dialogues are intended to build consensus on 1.5°C-compatible energy transition pathways and the enabling conditions needed to achieve them, as well as momentum around the target energy outcomes for COP28.

UAE on Saturday signed a Memorandum of Understanding for planning to establish Indian Institute of Technology (IIT) — Delhi in Abu Dhabi, which could be the second IIT abroad after Tanzania. The MoU was signed following talks between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi in Abu Dhabi. Modi was in UAE on a day long visit following his France trip.

Former Deputy Assistant Treasury Secretary Christine McDaniel discusses Janet Yellen's trip to China, the Biden administration's 'Bidenomics' tour and the UPS, Teamster labor talks.

China, as the world's two largest economies, must work together to combat the «existential threat» of climate change, U.S. Treasury Secretary Janet Yellen told Chinese government officials and climate experts on Saturday.

Shipping’s global regulator is closing in on a new target of net zero emissions by 2050, inching the industry closer to alignment with the Paris Agreement on climate. The plan — set out in a draft seen by Bloomberg News — is not yet finalised, with talks at the London-based International Maritime Organisation continuing into next week. If adopted, the mid-century target, which would be non-binding, could align the industry with the landmark 2015 Paris Agreement.

With 196 countries making a commitment to sustainability since 2015 under the Paris Agreement, the fight against global warming has been gathering pace, with countries advancing climate action through the use of greener fuels.

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.

Credit Suisse’s ESG credentials have come under fire, as a €2tn investor group calls on the bank to reduce its exposure to fossil fuels and restore its reputation following a series of scandals that have rocked the bank.

Credit Suisse’s ESG credentials have come under fire, as a €2tn investor group calls on the bank to reduce its exposure to fossil fuels and restore its reputation following a series of scandals that have rocked the bank.