COP28 tasked with finding consensus on first global stocktake to meet Paris goals
1 year, 4 months ago

COP28 tasked with finding consensus on first global stocktake to meet Paris goals

Hindustan Times  

The first global stocktaking of the progress made on containing climate change, expected to conclude at the UN summit in Dubai in a few weeks, has received polarising views from nations that are signatories to the 2015 Paris Agreement. India has underlined that equity, fair share of the global carbon budget, and obligations of developed country parties to provide finance for transition and technology transfer will be critical to address in the global stocktake. The synthesis report of the first GST released by UNFCCC found that global efforts on the climate crisis are falling short of meeting the Paris Agreement goals of keeping global warming well under 2 degrees Celsius from pre-industrial times and pursuing efforts to keep it under 1.5 degrees, HT reported on September 9. “While the different contexts of the Global North versus the Global South issue lead to differing perspectives on climate change concerns, consensus is crucial in this decade as the window to rapidly reduce GHG emissions by 2030 is closing,” the Centre for Science and Environment, an advocacy group, said in an analysis on Friday. Historical emitters have used up a majority share of the global carbon budget and developing countries must be allowed to use the remaining budget, countries like China and India have demanded.

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History of this topic

Peak emissions and carbon neutrality remain key targets
3 weeks, 5 days ago

Peak emissions and carbon neutrality remain key targets

China Daily  

China will take steps to respond to green trade barriers as it advances toward carbon neutrality, says the Government Work Report that was delivered at the opening of the third session of the 14th National People's Congress on Wednesday. The country will diligently work toward peaking carbon dioxide emissions before 2030 and achieving carbon neutrality before 2060, the report said. …

US, India, and ‘Green Divide’: America cannot be left unhooked
2 months ago

US, India, and ‘Green Divide’: America cannot be left unhooked

Firstpost  

If Donald Trump believes the Paris Agreement is unfair, then he can choose to not be a party to it and, at the same time, choose to financially contribute to developing countries that are willing to work on carbon emissions mitigation The United States, the world’s largest producer of oil and gas, will continue to expand production, solidifying its position …

Role of capital markets for raising green and transition finance
2 months, 3 weeks ago

Role of capital markets for raising green and transition finance

Hindustan Times  

The climate crisis is a global commons problem requiring concerted actions by all. While recognising this, the United Nations Framework Convention on Climate Change has also acknowledged the principle of ‘common but differentiated responsibilities and respective capabilities,’ which assigns greater responsibilities to developed countries in mitigating greenhouse gas emissions and reducing their carbon footprint. Green finance India is a vast …

After nearly 10 years of debate, COP29’s carbon trading deal is seriously flawed
4 months ago

After nearly 10 years of debate, COP29’s carbon trading deal is seriously flawed

New Indian Express  

Negotiators at the COP29 climate conference in Baku have struck a landmark agreement on rules governing the global trade of carbon credits, bringing to a close almost a decade of debate over the controversial scheme. The deal paves the way for a system in which countries or companies buy credits for removing or avoiding greenhouse gas emissions elsewhere in the …

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'
4 months ago

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'

India Today  

After a complex negotiation at the climate finance in Baku during COP 29, countries adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with the impacts of climate change. As per the final official draft by UNFCC, the central focus of COP 29 was on bringing together nearly 200 countries in Baku and …

COP29 unlocks intl carbon markets under Article 6 of Paris Agreement
4 months, 1 week ago

COP29 unlocks intl carbon markets under Article 6 of Paris Agreement

China Daily  

Xinhua | Updated: 2024-11-24 07:47 BAKU -- The presidency of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change announced on Saturday that it has concluded negotiations on Article 6 of the Paris Agreement, enabling cross-border carbon trading to support global climate goals. Article 6 provides trusted and transparent carbon markets …

COP29 seals deal on global carbon credit trading after years of debate
4 months, 1 week ago

COP29 seals deal on global carbon credit trading after years of debate

Firstpost  

Carbon credits are created through projects such as planting trees or putting up wind farms in a poorer country that receive one credit for every metric ton in emissions that they reduce or suck out of the atmosphere. File image/ Reuters Countries at the COP29 climate summit finalised an agreement on Saturday to establish a global carbon credit market to …

COP29 ends in a $1.3 trillion disappointment. But there may still be hope
4 months, 1 week ago

COP29 ends in a $1.3 trillion disappointment. But there may still be hope

Live Mint  

New Delhi: The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South. The second goal mentions that developed countries must take the lead in mobilising $250 billion per year by 2035 for climate action by …

COP29: Nations commit to 1.5°C pathway with enhanced climate goals
4 months, 1 week ago

COP29: Nations commit to 1.5°C pathway with enhanced climate goals

India Today  

In a landmark announcement at the COP29 summit in Baku, a coalition of nations representing 30% of global GDP and 15% of greenhouse gas emissions committed to strengthening their Nationally Determined Contributions to align with the 1.5°C global warming threshold. The United Kingdom, Brazil, and the United Arab Emirates led the charge with ambitious NDC targets for 2035, signaling their …

UN chief urges aligning climate action with limiting global warming to 1.5°C
4 months, 1 week ago

UN chief urges aligning climate action with limiting global warming to 1.5°C

Live Mint  

New Delhi: Every country’s next round of nationally determined contributions must contain unambiguous, absolute emissions reduction targets for 2030 and 2035, and align fossil fuel production and consumption plan to limiting global warming to 1.5°C above pre-industrial levels, UN secretary-general António Guterres said on Tuesday at the G20 meeting in Rio de Janeiro, Brazil. This assumes significance, as negotiations for …

COP29: Draft G20 communique skips referring to transition away from fossil fuels
4 months, 1 week ago

COP29: Draft G20 communique skips referring to transition away from fossil fuels

Hindustan Times  

Baku: The G20 leaders, whose nations represent 80% of global emissions, drew flak from observers at COP29 in Baku on Tuesday as their communique, a draft of which was circulating on Tuesday morning, failed to raise the climate ambition. It does mention the need for scaling up public and private climate finance and investment for developing countries and a successful …

Climate finance is central for enabling and implementing climate actions, says India at COP29
4 months, 1 week ago

Climate finance is central for enabling and implementing climate actions, says India at COP29

Live Mint  

New Delhi: Highlighting four essential aspects of global climate action, Leena Nandan, secretary of the ministry of environment, forest and climate change at COP29 on Monday, said the pre-2030 period is an opportunity to enhance global climate action through climate finance to reduce emissions and meet net zero. It is an opportunity to enhance global climate action,” Nandan said in …

Can COP29 deliver the big bucks needed to fight climate change?
4 months, 2 weeks ago

Can COP29 deliver the big bucks needed to fight climate change?

India Today  

On the shores of the Caspian Sea, Baku is welcoming leaders, climate activists, civil society members, and negotiators from over 200 countries with heightened anticipation around setting more ambitious climate finance targets through the proposed New Collective Quantified Goal. The agenda aims to revitalise global climate finance commitments, yet concerns loom over the pace and scale of progress. Across the …

CoP-29: Prospects of a climate breakthrough look extremely bleak
4 months, 2 weeks ago

CoP-29: Prospects of a climate breakthrough look extremely bleak

Live Mint  

Has there ever been a grimmer backdrop to the world’s most concerted attempt to avert global warming? We’ve only got 7 years left of current-rate pollution to retain an even chance of keeping global warming below 1.5° Celsius. The main reason Kyoto failed to rein in global emissions was that it didn’t cover emerging nations, something remedied in the 2015 …

Raise $1tr annually for developing nations to deliver on Paris pact goals: Report
Trending News
4 months, 2 weeks ago

Raise $1tr annually for developing nations to deliver on Paris pact goals: Report

Hindustan Times  

Talks at the 2024 UN Climate Change Conference in Azerbaijan’s Baku should focus on mobilising at least $1 trillion annually by 2030 in external finance from all sources for the investments necessary by emerging market and developing countries other than China to deliver on Paris Agreement goals, a report by the Independent High-Level Expert Group on Climate Finance has said. …

High-level report calls for $1 trillion boost in climate finance at COP29
4 months, 2 weeks ago

High-level report calls for $1 trillion boost in climate finance at COP29

India Today  

As the COP29 climate summit continues in Baku, a new report highlights an urgent call for climate finance to meet critical global targets. Published by an independent high-level expert group, the report recommends mobilising $1 trillion annually for developing countries by 2030, a move that would help address climate challenges under the Paris Agreement. The group aims to support policy …

COP29: India, other developing countries demand fair climate finance commitments
4 months, 2 weeks ago

COP29: India, other developing countries demand fair climate finance commitments

The Hindu  

India, as part of the Like-Minded Developing Countries bloc, stood firm in calling for equitable financial support from developed nations at the ongoing COP29 climate negotiations, multiple sources from the grouping said here. At the annual climate talks, India negotiates in key groupings such as the Like-Minded Developing Countries, G77 and China, and BASIC, where it aligns with other developing …

COP29 agrees to set up carbon market; India to ensure parties weave clearer rules for global carbon markets
Trending News
4 months, 2 weeks ago

COP29 agrees to set up carbon market; India to ensure parties weave clearer rules for global carbon markets

Live Mint  

New Delhi: A global carbon market will be set up after a landmark decision on the first day of the global climate summit in Baku, at the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change. It offers two pathways for countries and companies to trade carbon offsets, supporting the achievement of emission …

COP29 adopts establishment of global carbon market under Paris Agreement
4 months, 2 weeks ago

COP29 adopts establishment of global carbon market under Paris Agreement

Deccan Chronicle  

Baku: In a landmark decision at the first day of the global climate talks here, COP29 have officially adopted the new operational standards for a mechanism of the Paris Agreement under Article 6, setting the stage for a global carbon market. The Article 6.4 Supervisory Body, tasked with creating a United Nations-governed carbon market, finalised essential standards covering carbon removal …

COP29 climate summit adopts controversial carbon credit standards, drawing mixed reactions
4 months, 2 weeks ago

COP29 climate summit adopts controversial carbon credit standards, drawing mixed reactions

New Indian Express  

BAKU: The COP29 presidency has announced an early success with the adoption of standards for carbon credits, referred to as Article 6.4 of the Paris Agreement. COP29 lead negotiator, Yalchin Rafiyev, told the media, “This will be a game-changing tool to direct resources to the developing world and help us save up to $250 billion a year when implementing our …

COP29 Begins With Climate Finance, Absent Leaders, and Trump Looming Large
55 years, 2 months ago

COP29 Begins With Climate Finance, Absent Leaders, and Trump Looming Large

Wired  

$1 trillion a year in climate finance—that’s the goal. At these conferences, held every 12 months, everyone has a microphone—small islands with 10,000 inhabitants sit next to the giant countries of the world as they try to make decisions on how to curb climate change and its impacts. In Baku, the first city in the world to commercially exploit oil, …

COP29: Climate talks off to rocky start, but carbon mkts mechanism approved
Top News
4 months, 2 weeks ago

COP29: Climate talks off to rocky start, but carbon mkts mechanism approved

Hindustan Times  

New Delhi: The COP29 climate negotiations opened in Baku on Monday with proceedings stalled for hours over disagreements on key matters on the agenda, but countries later approved new UN standards for international carbon markets in a key step towards allowing countries to trade credits to meet climate targets. By trying to ram through loose standards for dangerous carbon crediting …

A guide to COP29 climate jargon
4 months, 2 weeks ago

A guide to COP29 climate jargon

The Hindu  

With the U.N. climate talks tackling complex topics from energy policy to global financial aid, the annual summit has developed its own ever-growing lexicon. UNFCCC: This acronym stands for the United Nations Framework Convention on Climate Change, which is the name of both the 1992 treaty committing nearly 200 countries to fighting global warming and the secretariat set up to …

COP29 stresses global financial reforms as world faces spectre of a 1.5°C rise
4 months, 2 weeks ago

COP29 stresses global financial reforms as world faces spectre of a 1.5°C rise

Live Mint  

New Delhi: Agreeing on a new global climate finance goal at the COP29 climate conference will not be enough to rein in toxic emissions, and countries must work harder to reform the global financial system, a top United Nations official said. “We must agree on a new global climate finance goal. If at least two-thirds of the world’s nations cannot …

Ahead of COP29, India to emphasise Paris Agreement red lines on climate finance
4 months, 3 weeks ago

Ahead of COP29, India to emphasise Paris Agreement red lines on climate finance

The Hindu  

With the 29th edition of the Conference of Parties expected to commence in Baku, India is expected to stick to its stance of getting developed countries to increase climate finance – a broad term for money for adapting to the impacts of climate change – but without deviating from the principles agreed to in the Paris Agreement text. In COP15 …

India's push for $1 trillion in climate finance to take centre stage at COP29
4 months, 3 weeks ago

India's push for $1 trillion in climate finance to take centre stage at COP29

India Today  

With just days left until the United Nations Climate Change Conference begins in Azerbaijan, negotiators have yet to clearly outline a deal for a new climate finance goal. India has emphasised that developed nations need to provide at least $1 trillion annually for climate finance, as stated in the G20 New Delhi Declaration. The new financing goal will support developing …

Climate Crisis: Can COP29 Break the Cycle of Broken Promises?
5 months ago

Climate Crisis: Can COP29 Break the Cycle of Broken Promises?

Live Mint  

The 2024 Emissions Gap Report paints a grim picture of global climate progress, with emissions continuing to rise and the gap between climate targets and reality widening. The report emphasizes the need for immediate action on climate finance, emissions reduction, and accountability. It highlights the responsibility of wealthy nations to fulfill their financial and emissions reduction promises, particularly to support …

Transformation of global energy sector to meet COP28 goals ‘feasible’: IEA
6 months, 1 week ago

Transformation of global energy sector to meet COP28 goals ‘feasible’: IEA

Al Jazeera  

Tripling renewable energy capacity and doubling energy efficiency by 2030 to meet COP28 goals are “feasible”, the International Energy Agency has said in a report. Almost 200 countries agreed at the COP28 climate summit in Dubai last year to reach net zero emissions from the energy sector by 2050, pledging to triple renewable energy capacity like wind and solar. “The …

Upcoming COP29 set to prioritize climate finance goal
7 months, 4 weeks ago

Upcoming COP29 set to prioritize climate finance goal

China Daily  

Azerbaijan, the host of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change, more commonly known as COP29, has vowed to make every effort to ensure a fair and ambitious climate finance goal for developed nations. The 2015 Paris Agreement aims to keep the global temperature rise this century well below …

Upcoming COP29 set to prioritize climate finance goal
7 months, 4 weeks ago

Upcoming COP29 set to prioritize climate finance goal

China Daily  

Azerbaijan, the host of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change, more commonly known as COP29, has vowed to make every effort to ensure a fair and ambitious climate finance goal for developed nations. The 2015 Paris Agreement aims to keep the global temperature rise this century well below …

COP hosts call on countries to align NDCs with 1.5 degree C goal
1 year ago

COP hosts call on countries to align NDCs with 1.5 degree C goal

Hindustan Times  

New Delhi: The hosts of the United Nations climate conferences – the United Arab Emirates, Azerbaijan and Brazil – on Wednesday announced to cut emissions in line with limiting global warming to 1.5 degrees Celsius-aligned nationally-determined contributions under the Paris Agreement by early 2025. The Troika in this regard issued a letter to all 198 United Nations Framework Convention on …

COP28 resolution a pivotal moment for decisive action
1 year, 2 months ago

COP28 resolution a pivotal moment for decisive action

China Daily  

A person walks past a "#COP28" sign. The resolution of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, or COP28, calls for a shift away from fossil fuels. When viewed from a historical perspective, the UN's efforts in combating climate change through summits have included pivotal moments such as the 1992 Rio Summit, …

COP28: A crossroads for India and the climate crisis
1 year, 2 months ago

COP28: A crossroads for India and the climate crisis

Hindustan Times  

COP28, the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, concluded on December 12, 2023. While acknowledging the need for a shift away from coal-dependent energy, India, along with developing nations like South Africa and China, pushed for a recognition of their reliance on fossil fuels for development. The issue of "Loss and Damage" …

Was the COP28 climate summit a milestone or a mirage? | Explained
1 year, 3 months ago

Was the COP28 climate summit a milestone or a mirage? | Explained

The Hindu  

The 28th session of the Conference of the Parties – an annual convening of countries signatory to the United Nations Framework Convention on Climate Change – happened in Dubai this year, with high expectations that countries would take concrete steps to address the climate crisis. Countries’ decision at COP28 to transition away from fossil fuels was coupled with an ambition …

COP28: Of pledges and compromises
1 year, 3 months ago

COP28: Of pledges and compromises

Live Mint  

New Delhi: After skirting the issue in the Paris Agreement, as well as the subsequent Glasgow and Sharm-el-Sheikh summits, the Conference of Parties in Dubai finally belled the cat. The big positives were the consensus on moving away from fossil fuels, establishing a global framework to help communities and countries adapt to climate change impacts, and building a corpus to …

Global deal at COP28 as Dubai keeps Paris alive
1 year, 3 months ago

Global deal at COP28 as Dubai keeps Paris alive

Hindustan Times  

History was made in Dubai on Wednesday when 196 countries agreed to transition away from fossil fuels, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero emissions by 2050, although experts said it doesn’t do enough on almost all fronts -- climate targets, funding, phasing out fossil fuels, and holding …

COP28 leaders agree to 'transition away' from fossil fuels with 'historic package' of measures aimed at limiting global warming to 1.5C
1 year, 3 months ago

COP28 leaders agree to 'transition away' from fossil fuels with 'historic package' of measures aimed at limiting global warming to 1.5C

Daily Mail  

World leaders have agreed to 'transition away' from fossil fuels for the first time at the COP28 climate talks in Dubai, after a 'historic' climate change deal was approved by almost 200 countries this morning. The deal is the first time in nearly three decades of annual UN climate summits that the world has agreed to language that explicitly limits …

COP28 leaders call for ‘transitioning away’ from fossil fuels in final push at climate talks
1 year, 3 months ago

COP28 leaders call for ‘transitioning away’ from fossil fuels in final push at climate talks

Live Mint  

DUBAI—Officials from the United Arab Emirates leading talks at the United Nations climate conference proposed a compromise agreement on Wednesday that calls for the world to transition away from fossil fuels, seeking to bridge differences between big energy-producing nations and countries that want to completely phase out coal, oil and natural gas. The proposed deal, circulated after all-night talks, calls …

'Equity and climate justice': India calls for implementation of Paris Agreement at COP28
1 year, 3 months ago

'Equity and climate justice': India calls for implementation of Paris Agreement at COP28

India TV News  

India on Wednesday urged global leaders at the UN Climate Change Conference to implement the Paris Agreement through the Global Stocktake process with a strong focus on the principles of equity and climate change. "The way ahead must be based on equity and climate justice, let us implement the Paris Agreement in letter and spirit through the Global Stocktake process," …

Why Cop28 barely scratches the surface on the cost of climate change
1 year, 3 months ago

Why Cop28 barely scratches the surface on the cost of climate change

The Independent  

When panic-buying hit the UK in March 2020, it was a rare moment: a curious knock-on effect of the emerging Covid pandemic. The rains now are crazy; It is very different to how it was when I was a child.” Robertson is at the Cop28 climate conference in Dubai in his role as lead negotiator for “Loss and Damage” – …

COP28 pledges meet only 30% of needed energy emission cuts: IEA
1 year, 3 months ago

COP28 pledges meet only 30% of needed energy emission cuts: IEA

The Hindu  

Pledges made so far at the COP28 climate summit will only reduce energy-related greenhouse gas emissions by 30% of what is needed by 2030, the International Energy Agency said Sunday. “While the pledges are positive steps forward in tackling the energy sector’s greenhouse gas emissions, they would not be nearly enough to move the world onto a path to reaching …

COP28 releases crucial document to guide adaptation efforts, disagreement lingers
1 year, 3 months ago

COP28 releases crucial document to guide adaptation efforts, disagreement lingers

India TV News  

COP28: Just two days before the UN climate talks here are scheduled to end, negotiators on Sunday released a draft document to guide countries' efforts to adapt to climate change and monitor collective progress. Funds crunch According to a UN report released last month, developing countries require USD 215-387 billion annually for climate adaptation, but they are only receiving about …

COP28: New GST draft text gives four options for move towards clean energy
1 year, 3 months ago

COP28: New GST draft text gives four options for move towards clean energy

ABP News  

Dubai, Dec 8 : A new draft of the Global Stocktake released on Friday here at the COP28 has four options for the move towards clean energy ranging from phase out of fossil fuels to no mention of the phase out at all. The Global Stocktake draft "emphasises the importance of the Global Goal on Adaptation of enhancing adaptive capacity, …

Cop28: Talks intensify to break impasse over slashing greenhouse gas emissions
1 year, 3 months ago

Cop28: Talks intensify to break impasse over slashing greenhouse gas emissions

Firstpost  

Burning fossil fuels for energy is by far the biggest cause of climate change. It is also the engine of modern life - even with the growth of renewables, fossil fuels produce around 80% of the world’s energy. Aside from Norway, Europe’s biggest oil and gas producer, excluding Russia, this position is also backed by Western producers the United States …

Global emissions at record highs as world continues to overspend on 'carbon budget'
1 year, 3 months ago

Global emissions at record highs as world continues to overspend on 'carbon budget'

ABC  

Global carbon emissions from fossil fuels have increased over the past year despite most of the world committing to net zero targets, according to new research. The Global Carbon Project releases its carbon budget each year, with this year's figures showing a 1.1 per cent increase in emissions across the world. CSIRO chief research scientist and executive director of the …

What's happening at COP28 climate summit on Monday
1 year, 3 months ago

What's happening at COP28 climate summit on Monday

India Today  

As the world's leaders have departed from the bustling conference halls of Expo City Dubai, the focus of COP28 shifts to a critical aspect of climate action: finance. Monday marks the finance day at the U.N. climate summit, a day anticipated to bring forth more nuanced discussions and potential funding announcements dedicated to combating climate change. In the initial days …

COP28 Ten Top Development Banks World Bank Pledge To Step Up Climate Efforts But Do Not Mention Fossil Fuel Phaseout
1 year, 3 months ago

COP28 Ten Top Development Banks World Bank Pledge To Step Up Climate Efforts But Do Not Mention Fossil Fuel Phaseout

ABP News  

COP28: On the fourth day of the 28th edition of the United Nations Climate Change Conference, ten leading development banks, including the World Bank, have signed a joint statement to step up climate efforts, but have not mentioned anything about stopping financing for fossil fuel projects, news agency Reuters reported, citing a document. MUST READ | How HIV Impacts Fertility, …

Global Stocktake should account for failures of developed nations: BASIC nations at COP28
1 year, 3 months ago

Global Stocktake should account for failures of developed nations: BASIC nations at COP28

The Hindu  

The BASIC grouping, comprising Brazil, South Africa, India and China, has pushed during annual climate talks here that the Global Stocktake should also account for the failures of the developed nations, sources said. According to multiple delegates who were present in the preliminary negotiations which put forward their initial expectations, the BASIC grouping condemned fragmented multilateralism of the developed world. …

What India should be seeking from COP28
1 year, 3 months ago

What India should be seeking from COP28

Hindustan Times  

The 28th Conference of Parties to the UN Framework Convention on Climate Change began in Dubai, United Arab Emirates on November 30 and will continue till December 12. The successive annual COPs since the Paris Climate agreement of 2015 have each fallen short of mobilising international efforts at a scale appropriate to the challenge of the climate crisis, even as …

COP28: PM Modi's Green Credit Scheme For More Carbon Sinks Through People's Participation — Explained
1 year, 3 months ago

COP28: PM Modi's Green Credit Scheme For More Carbon Sinks Through People's Participation — Explained

ABP News  

New Delhi: Prime Minister Narendra Modi, while addressing the COP28 summit in Dubai on Friday, launched the Green Credit Initiative focused on creating carbon sinks through people’s participation. Under the government’s Green Credit Programme, environment actions will also receive carbon credits under the Carbon Credit Trading Scheme if it leads to the reduction or removal of carbon emissions. “The Green …

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