It has long been a central point of contention in climate negotiations: How should global climate action be financed? This week, France’s President Emmanuel Macron invited people to a major summit on this issue. He wants to put the topic of “restructuring to a climate-friendly financial system” at the top of the agenda. At the […]
At the German-Chinese government consultations, a new climate and transformation dialogue was agreed between the two countries. The dialogue is intended to bundle and strengthen existing formats of cooperation in the areas: The mechanism is coordinated by the German Ministry of Commerce and the National Reform and Development Commission of China (NDRC), which has ministerial […]
Emerging and developing countries will need to invest 2.8 trillion Dollars annually in clean energy starting in the early 2030s to meet climate goals and cover energy access. That’s according to a new report from the International Energy Agency (IEA) and the private sector arm of the World Bank (IFC). According to the report, this […]
When Wael Sawan became Shell’s CEO in January 2023, analysts had hopes for an accelerated green transformation. The Lebanese-born Canadian headed the company’s “Integrated Gas and Renewables” division before his rise to the top job. His promotion to CEO is a “clear sign” that Shell wants to revise its “vague renewables strategy”, the Guardian quotes […]
According to a recent World Bank study, countries subsidize climate-damaging sectors with 1.25 trillion US dollars annually. The Development Bank says this sum should be repurposed for climate action. The study identified the following money flows:“If we could repurpose the trillions of dollars being spent on wasteful subsidies and put these to better, greener uses, […]
“We need to stop pointing fingers” – these were conciliatory words from the gray eminence of climate conferences, Alden Meyer. “We are all in the same boat,” warned the Senior Associate of the environmental lobby E3G at the end of an often disappointing SB58 in Bonn.There was a lot of blame-shifting at SB58. Countries argued […]
Fiji has spoken out in favor of drafting a Fossil Fuel Non-Proliferation Treaty at SB58 in Bonn. The Pacific nation joins its neighbors Vanuatu, Tuvalu and Tonga in their call. “We cannot afford to delay action any longer,” said Genevieve Jiva of the Fiji government at SB58. “The time for bold, ambitious and transformative measures […]
A global target for the expansion of renewables was also debated in the hallways of SB58. A joint global target is to help accelerate the expansion of renewables. High representatives of the EU Commission and COP28 President Al Jaber even seem to agree on the targets. According to Al Jaber, a global target to triple […]
Many major cities and companies still do not have net zero targets and jeopardize national climate goals. This is the finding of the Net Zero Stocktake report published today. According to the study, more and more countries are embedding net zero climate targets in national laws and policies. So it is not just lip service, […]
It is the big crux of international climate policy: If the climate crisis is to be stopped, fossil fuels cannot continue to be burned. But a new study shows: Oil and gas countries continue to invest in their extraction, consumer countries increase fossil subsidies instead of cutting them. This is the path to 2.7 degrees […]