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COP28 president Sultan Ahmed Al Jaber speaks during the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at Dubai Expo on December 1, 2023. "We delivered world first after world first," the UAE summit presidency said in a further social media update. And we have language on fossil fuels in our final agreement." Many believed the COP28 summit could only be considered a success if it resulted in a deal to phase out all fossil fuels. COP28 President Sultan al-Jaber sparked a backlash earlier this month after he claimed there is "no science" behind calls for a phase-out of fossil fuels.

Persons: Sultan Ahmed Al Jaber, Ludovic Marin, Licypriya Kangujam, Sean Gallup, Wopke Hoekstra, Alok Sharma, Sharma, CNBC's, Simon Stiell, We're, John Kerry, Selma de Montgomery, Avinash Persaud, Mikhail Gitarskiy, Sultan al, Jaber, he'd, Al Organizations: Food Systems, Dubai Expo, Afp, Getty Images, UAE Consensus, UAE, United Arab Emirates, Getty, Russian, BBC, Abu, Abu Dhabi National Oil Co Locations: Dubai, UAE, United Arab, United Arab Emirates, Pacific, Caribbean, Latin America, Africa, Asia, North America, Paris, United States, China, Denmark, Barbados, Moscow, Abu Dhabi

☆ Indian rupee falls to record low, next week crucial to gauge new range
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Nov 10 (Reuters) - The Indian rupee dropped to a record low against the U.S. dollar on Friday, which alongside the outage of the interbank order matching system, prompted the central bank to step in. The rupee dropped to a record low of 83.42 to the dollar and was last at 83.3925. "On why the RBI today decided that (allow rupee to drop below 83.30), it's impossible to say," a forex trader at a bank said. Next week will be very important to see if a new range has been made." He, however, said that the range in the USD/INR has now shifted higher.

Persons: Alok Sharma, Arnob Biswas, Nimesh Vora, Sonia Cheema Organizations: U.S, Reserve Bank of India, SMC Global Securities, Thomson Locations: MUMBAI, ICBC

LONDON (AP) — Prime Minister Rishi Sunak is preparing to water down some of Britain's environmental commitments on Wednesday, saying the country must fight climate change without penalizing workers and consumers. “For too many years, politicians in governments of all stripes have not been honest about costs and trade-offs," Sunak said. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero greenhouse gas emissions by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government's apparent change of plan.

Persons: Rishi Sunak, Sunak, backtrack, Prince William —, Doug Parr, ”, Parr, Mike Hawes, Lisa Brankin, Tara, Hargreaves Lansdown, ” Copp, Sadiq Khan, “ We’re, Suella Braverman, Alok Sharma Organizations: —, Conservative Party, United Nations General Assembly, Greenpeace, Society of Motor Manufacturers, Traders, Ford, ” Britain's, Labour, London’s Labour, BBC Locations: Britain, New York, London Uxbridge, Glasgow

LONDON (AP) — Prime Minister Rishi Sunak announced Wednesday that he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030, watering down climate goals that he said imposed “unacceptable costs” on ordinary people. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government’s change of plan. Ford U.K. head Lisa Brankin said the company had invested 430 million pounds ($530 million) to build electric cars in Britain.

Persons: Rishi Sunak, Sunak, ”, Boris Johnson, backtrack, Prince William —, Will McCallum, Lisa Brankin, Richard Burge, Tara, Hargreaves Lansdown, Clee, Sadiq Khan, Alok Sharma, Peter Cox Organizations: —, Conservative Party, Former, United Nations General Assembly, Greenpeace, Ford, London Chamber of Commerce and Industry, Britain’s Conservatives, Labour, London’s Labour, BBC, Global Systems Institute, University of Exeter Locations: New York, Britain, London Uxbridge, Glasgow

☆ The UK is delaying the switch to electric cars. Automakers are furious
▼ + stars: | 2023-09-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

A relaxation of 2030 would undermine all three,” Ford (F) UK chair Lisa Brankin said in a statement. “We and the whole automotive industry [need] clarity on the [EV] topic,” the German carmaker said in a statement shared with CNN. ‘Confusion’ will delay switch to EVsThe UK auto industry has been clawing its way back from rock bottom after car manufacturing hit a 66-year low in 2022. Reducing emissions from road transport “is the only way that you will achieve net zero,” Hawes told the BBC. The government’s own independent adviser on climate policy, the Climate Change Committee shares that view.

Persons: carmakers, Rishi Sunak, Sunak, “, ”, Sunak’s, ” Ford, Lisa Brankin, Brankin, carmaker, Mike Hawes, ” Hawes, Jobs, Sadiq Khan, ” Sunak, “ We’re, Alok Sharma, Simon Clarke, EVs, — Gemma Blundell, Doyle, Anna Cooban, Laura Paddison, Rob Picheta Organizations: London CNN, BMW, Oxford, Swindon, CNN, Fiat, Peugeot, Fiat Chrysler, France’s, India’s Tata Group, Society of Motor Manufacturers, Traders, BBC, Conservative Party, Labour Party’s London, Conservative Locations: Germany, France, Spain, Italy, Canada, Sweden, Ellesmere Port, Liverpool, Britain, London, Glasgow

☆ Rishi Sunak’s plans to delay climate targets attacked, as UK government pushes anti-green drive
▼ + stars: | 2023-09-20 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

In an attack on his own Conservative predecessors as prime minister, Sunak said: “You don’t reach net zero simply by wishing it. The Climate Change Committee, the government’s independent adviser on climate change, published a report in June that criticized the UK’s net zero plans and said there was not enough urgency to reach the country’s goals. Britain is legally required to have reached net zero – meaning the country would remove from the atmosphere at least as much planet-warming pollution as it emits – by 2050. Johnson’s comments led a chorus of concerns from within Sunak’s Conservative party at the plans, which were apparently hurriedly brought forward after Tuesday’s leaks to the media. British businesses also criticized Sunak’s plans on Wednesday.

Persons: Rishi Sunak, Sunak, ” Boris Johnson, ” Johnson, ”, Dan Kitwood, pushback Sunak, “ We’ve, ” Sunak, “, … I’ve, Alok Sharma, ” Sharma, Chris Skidmore, Rob Picheta, Mike Childs, Sunak’s, Lisa Brankin, Ed Matthew, ” “ Organizations: London CNN, United, Conservative, Labour, “, Sunak’s Conservative, BBC, PA Media, London's Labour, CNN, Ambition, UN, Ford, European Union Locations: Britain, United Kingdom, Glasgow, Sunak’s, London, Uxbridge, South Ruislip, New York, United States, China

☆ British embassy guard who spied for Russia filmed "secret" letter to PM, London court told
▼ + stars: | 2023-02-13 | by ( Sam Tobin | ) www.reuters.com time to read: +4 min

Morgan said Smith sent a letter containing "highly sensitive information about the British embassy and those who worked within it" to General Major Sergey Chukhrov, the Russian military attaché to Berlin, in November 2020. She added that the discovery of Smith's letter to Chukhrov prompted a joint investigation between British and German authorities. Covertly recorded footage was played in court showing Smith filming CCTV footage of "Dmitry" from within the embassy's security kiosk. Smith was later approached by "Irina", who told him that she needed assistance as someone had "passed information to the British and the information could be damaging to Russia". In hidden camera footage played to the court, "Irina" asks if Smith can help and he replies: "Well, like what?"

☆ Queen guitarist May, soccer Lionesses named in king's New Year honours
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +2 min

Denis Pellerin/Handout via REUTERSLONDON, Dec 30 (Reuters) - Britain recognised Queen guitarist Brian May, several English "Lionesses" who won the European women's soccer championship and diplomats involved in the response to Russia's invasion of Ukraine in King Charles' first New Year's honours list. Four members of the England women's soccer team received honours, with captain Leah Williamson awarded an OBE, while the tournament's golden boot winner Beth Mead, defender Lucy Bronze and all-time top scorer Ellen White received MBEs. The team's coach, Dutch national Sarina Wiegman, received an honorary CBE - a type of award given to foreign nationals. Queen Elizabeth died in September, making the New Year's honours the first to be awarded by King Charles since he came to the throne. The list is drawn up by independent committees, before it is approved by the prime minister and the monarch.

☆ UK government greenlights first new coal mine in three decades
▼ + stars: | 2022-12-07 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +5 min

CNN —The UK has greenlit a controversial plan to open the country’s first new coal mine in three decades, a little more than a year after the nation tried to convince the world to ditch coal at the COP26 climate talks in Glasgow. Committee chairman Lord Deben said in a statement: “Phasing out coal use is the clearest requirement of the global effort towards Net Zero. We condemn, therefore, the Secretary of State’s decision to consent to a new deep coal mine in Cumbria, contrary to our previous advice. This decision grows global emissions and undermines UK efforts to achieve Net Zero.”The mine’s approval was also met with fierce criticism from scientists and environmentalists. Its opponents argue these jobs may not be secure, given the huge momentum in Europe to phase out coal.

[1/10] Delegates applaud as COP27 President Sameh Shoukry delivers a statement during the closing plenary at the COP27 climate summit in Red Sea resort of Sharm el-Sheikh, Egypt, November 20, 2022. "We had to fight relentlessly to hold the line of Glasgow," a visibly frustrated Alok Sharma, architect of the Glasgow deal, told the summit. He listed off a number of ambition-boosting measures that were stymied in the negotiations for the final COP27 deal in Egypt: "Emissions peaking before 2025 as the science tells us is necessary? Another section of the COP27 deal dropped the idea of annual target renewal in favour of returning to a longer five-year cycle set out in the Paris pact. "I recognise the progress we made in COP27" with the loss and damage fund, Aminath Shauna told the plenary.

☆ COP27 deal is a blessing in a very good disguise
▼ + stars: | 2022-11-21 | by ( George Hay | ) www.reuters.com time to read: +4 min

SHARM EL-SHEIKH, Egypt, Nov 21 (Reuters Breakingviews) - The world’s premier forum for combatting climate change concluded in Egypt’s Sharm El-Sheikh on Sunday with an inadequate agreement to reduce global greenhouse gas emissions. At Glasgow’s COP26 a year ago, the world’s nearly 200 nations promised to update their decarbonisation plans in 2022. Pessimists will accurately stress that a newly agreed loss and damage fund to pay off affected countries is just an empty bucket – the details will be determined later. At COP26 it was obvious a perceived lack of generosity from richer nations was holding back efforts to mitigate and adapt to climate change. The commitment to establish a dedicated “loss and damage” fund left many of the most controversial decisions on how it might work until next year, including who should pay into it.

☆ What are people saying about the COP27 deal?
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +3 min

"I urge you to acknowledge when you walk out of this room, that we have all fallen short in actions to avoid and minimise loss and damage. "Too many parties are not ready to make more progress today in the fight against climate crisis." PAKISTAN CLIMATE CHANGE MINISTER SHERRY REHMAN"We have struggled for 30 year on this path and today in Sharm el-Sheikh this journey has achieved its first positive milestone ... MALDIVES CLIMATE CHANGE MINISTER AMINATH SHAUNA"I recognise the progress we made in COP 27 particularly on...the funding arrangements for loss and damage. And we were able to prevent a backslide behind the consensus of Glasgow and Paris (climate summits).

☆ Analysis: COP27 loss and damage fund heralds 'new dawn for climate justice'
▼ + stars: | 2022-11-20 | by ( Megan Rowling | ) www.reuters.com time to read: +8 min

Yeb Saño, head of Greenpeace Southeast Asia, said the fund's approval "marks a new dawn for climate justice." While the loss and damage fund would not be enough to deal with growing climate losses, "it is a much-needed political signal to rebuild broken trust" between rich and poor nations, he said in a video statement. Their opposition was rooted in fears of being held financially liable for the impacts of their historically high greenhouse gas emissions. FOSSIL FUELS MISSINGPolitical figures had urged countries at COP27 to set aside geopolitical fights in order to keep climate action on track. Manuel Pulgar-Vidal, global climate and energy lead for environmental group WWF, who presided over COP20 in Peru, said leaders had missed the chance in Egypt to speed up the rapid and deep emissions cuts essential to limit climate damage.

☆ COP27: France, Spain latest to pledge halt to gasoline-driven vehicle sales
▼ + stars: | 2022-11-16 | by ( Simon Jessop | ) www.reuters.com time to read: +3 min

The countries made their pledges at the COP27 climate talks in Egypt's Sharm el-Sheikh, among a group of new signatories to the Zero Emission Vehicles Declaration (ZEVD), launched at last year's conference in Glasgow. [nL1N2S11J6]Signatories, including countries, municipalities and companies, pledged to shift to 100% sales of zero-emission vehicles by 2035 in leading markets and by 2040 across the globe. The total number of signatories to the pledge now stands at 214, from 130 a year earlier. Going forward, the ZEVD would be overseen by a new group, the Accelerating to Zero Coalition, that aims to help signatories implement their commitment. Data released by BloombergNEF showed 2022 would be a record year for sales of zero-emission vehicles with electric vehicles comprising 13.2% of all sales in the first half of the year.

The failure by rich nations to deliver in full on a past pledge to deliver $100 billion in annual climate finance to developing countries has rankled in recent years of climate talks. "We cannot afford a further erosion of trust between the developed and developing countries," said Samoa's Prime Minister Fiame Naomi Mataafa. The burning of fossil fuels is the main cause of climate change, but coal, gas and oil were notably absent in the draft deal. The draft COP27 text did not hint at which route the final deal will take on this issue. "We cannot lose 1.5 at this COP," said Alok Sharma, president of last year's U.N. climate summit, COP26, in Glasgow, Scotland.

Progress since has been patchy, with only a few countries instituting more aggressive policies on deforestation and financing. Among the new sources of financing, Germany said it would double its financing for forests to 2 billion euros ($1.97 billion) through 2025. PRIVATE CASH PILES UPPrivate companies announced $3.6 billion in extra money. Other initiatives towards meeting the 2030 forest pledge also announced incremental progress at the opening of COP27. In September, the initiative announced standards that companies should follow to trace commodities and disclose links to deforestation.

☆ Where's the money? COP27 climate summit opens with a rallying call for rich nations to pay up
▼ + stars: | 2022-11-07 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The COP27 summit sees delegates from nearly 200 countries gather in Egypt's Red Sea resort town of Sharm el-Sheikh for talks on how to address the climate crisis. Climate finance, as it has done since the first U.N. climate conference in 1995, will once again play a pivotal role. Climate reparations, sometimes referred to as "loss and damage" payments, are widely expected to dominate the COP27 talks. Indeed, for the first time ever, the topic of loss and damage finance formally made it onto the COP27 agenda. "AOSIS is here to agree to the establishment of a new Loss and Damage Response Fund at COP27 that is operational by 2024.

☆ UK to extend windfall taxes on energy firms - The Times
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - British Prime Minister Rishi Sunak and finance minister Jeremy Hunt are planning to extend windfall taxes on oil and gas companies to raise nearly 40 billion pounds ($45.55 billion) over the five years, The Times reported on Wednesday. Sunak and Hunt want to maximise revenues from the windfall tax, by increasing the rate from 25% to 30% and extending it until 2028, the newspaper said, adding the scheme will be expanded to cover electricity generators. In May, Sunak under former Prime Minister Boris Johnson's government, introduced the 25% windfall tax on oil and gas producers' profits, which helped to fund a package of support for households. The decision back then was met with critiques from oil and gas companies that it would shrink investment and domestic production. The president of the COP26 climate summit Alok Sharma said earlier this week that Sunak's government should explore extending a windfall tax on oil and gas firms.

☆ UK PM Rishi Sunak will now attend COP27, reversing decision to skip
▼ + stars: | 2022-11-02 | by ( ) www.cnbc.com time to read: +2 min

British Prime Minister Rishi Sunak will attend the COP27 summit in Egypt next week, he said on Wednesday, reversing a much-criticised decision to skip the annual climate gathering in order to work on pressing economic issues at home. There is no energy security without investing in renewables," Sunak wrote on Twitter. The deal was meant to ensure that the world still has a chance to avert the worst impacts of global warming. "The prime minister has been shamed into going to COP27 by the torrent of disbelief that he would fail to turn up," the opposition Labour Party's climate policy spokesperson Ed Miliband said. Britain's COP26 president Alok Sharma, who had criticised Sunak's initial decision to skip the summit in a newspaper interview, said he was "delighted" the prime minister was going to the conference.

Sunak became prime minister on Monday, and has delayed an autumn fiscal statement to Nov. 17 as he looks to tackle a cost-of-living crisis and restore international economic credibility damaged in the short tenure of his predecessor Liz Truss. Truss had been expected to attend, but on Thursday Sunak's Downing Street office said the new prime minister was not planning to go to the summit. "The Prime Minister is not expected to attend the summit in Egypt due to other pressing domestic commitments, including preparations for the autumn statement," a Downing Street spokesperson said. The spokesperson said that Britain remained "absolutely committed to supporting COP27 and leading international action to tackle climate change and protect nature," having hosted the COP26 summit in Glasgow last year. The opposition Labour Party criticised Sunak's decision to skip the summit, with its climate change policy spokesperson calling it a "big mistake."

☆ COP26 had big ambitions — here's why it fell short
▼ + stars: | 2021-11-19 | by ( Tom Chitty | Sam Meredith | ) www.cnbc.com time to read: +1 min

"I apologize for the way this process has unfolded, and I am deeply sorry." Speaking after the Glasgow Climate Pact had been agreed by nearly 200 countries, Alok Sharma, the U.K.'s COP26 president, captured the feeling of disappointment held by many inside the conference center. China and India, which are among the world's biggest burners of coal, had amended the language in the pact from a "phase out" of coal to a "phase down." It's a far cry from the crucial 1.5 degrees Celsius rise that would limit the worst effects of the climate emergency, a target dating from the landmark 2015 Paris Agreement. Watch the video above to find out what happened in Glasgow and why COP26 struggled to achieve its aims.

Persons: Alok Sharma, It's, COP26 Locations: Glasgow, China, India, Paris

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