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The capacity payments will be calculated based on fixed costs of 330 yuan ($45.25) per kilowatt per year for coal plants. Analysts said the move was important to ensure the financial viability of seldom-utilised, backup coal power, which is used for demand peaks or when renewable power generation is insufficient. However, observers also cautioned that the policy could risk entrenching inefficient coal power in China's energy system, despite its rapid expansion of renewable power generation capacity. "Capacity-based electricity pricing for coal power will further incentivise state-owned enterprises in China to build new coal power projects in the short term. Capacity payments should be for all power producers, not only for coal power," said Zhang Kai, deputy program director for Greenpeace East Asia in Beijing.

Persons: David Fishman, Xuewan Chen, Group's Fishman, Zhang Kai, Colleen Howe, Andrew Hayley, Edmund Klamann, Muralikumar Anantharaman, Kim Coghill Organizations: National Development, Reform Commission, Reuters, Analysts, Lantau, LSEG, Jinneng Holding, Power Co, Centre for Research, Energy, Clean, Greenpeace East, Thomson Locations: BEIJING, China, Shanghai, Beijing, Shanxi, Jiangxi Ganneng, Hunan, Greenpeace East Asia

CNN —Ancient Buddhist murals and statues in caves along China’s Silk Road are under “direct threat” from extreme rainfall brought by climate change, researchers have found. Zhangye Cultural Heritage Administration/GreenpeaceThe report comes as China is conducting its fourth nationwide cultural heritage survey to log the state of the country’s historical artifacts. “The sites we looked at include some of the most well-funded, best-staffed cultural heritage sites in China. Li said Chinese officials and academics are increasingly aware of the threats of the climate crisis on the country’s cultural heritage sites. Unlike Dunhuang, many historical sites lack long-term monitoring data to research the impacts of climate change, Li said.

Persons: ”, Li Zhao, Li, we’re, they’re, ” Li, Tianlongshan grottoes Organizations: CNN, UNESCO, Heritage, Greenpeace, Greenpeace East Asia’s, Spikes, Heritage Administration, Dunhuang Academy Locations: Gansu, Greenpeace East, Greenpeace East Asia’s Beijing, Jinta, China, Shanxi, Jinci, Dunhuang

The Kunming-Montreal Global Biodiversity Framework, reflecting the joint leadership of China and Canada, is the culmination of four years of work toward creating an agreement to guide global conservation efforts through 2030. A Congolese representative argued that developed nations should provide more resources to nature conservation efforts in developing countries. [1/6] The leadership of the U.N.-backed COP15 biodiversity conference applaud after passing the The Kunming-Montreal Global Biodiversity Framework in Montreal, Quebec, Canada December 19, 2022. Developed countries will provide $25 billion in annual funding starting in 2025 and $30 billion per year by 2030. The agreement, which contains 23 targets in total, replaces the 2010 Aichi Biodiversity Targets that were intended to guide conservation through 2020.

Policymakers hope an ambitious deal can spur nature conservation in the same way that an international pact in Paris in 2015 helped mobilize efforts to limit planet-warming carbon emissions. However, the text mentions only that $20 billion to $30 billion per year comes from developed countries by 2030. "Probably we will have to reach an agreement between $30 billion and $100 billion," Colombia's Muhamad told reporters. The draft deal does not mention setting up a separate facility. Lastly, risks from pesticides and highly hazardous chemicals would be reduced by at least half, but the text does not address slashing their overall use.

Sharm el-Sheikh, Egypt CNN —Delegates from nearly 200 counties at the COP27 climate summit have agreed to set up a “loss and damage” fund meant to help vulnerable countries cope with climate disasters, in a landmark deal early Sunday morning in Sharm el-Sheikh, Egypt. And in previous public remarks, US Climate Envoy John Kerry had said loss and damage was not the same thing as climate reparations. “This loss and damage fund will be a lifeline for poor families whose houses are destroyed, farmers whose fields are ruined, and islanders forced from their ancestral homes,” World Resources Institute CEO Ani Dasgupta said. Beyond 1.5 degrees, the risk of extreme drought, wildfires, floods and food shortages will increase dramatically, scientists said in the latest UN Intergovernmental Panel on Climate Change (IPCC) report. On Saturday, EU officials threatened to walk out of the meeting if the final agreement failed to endorse the goal to limit warming to 1.5 degrees Celsius above pre-industrial levels.

How Putin and Friends Stalled Climate Progress A handful of powerful world leaders rallied around Russia and undercut global cooperation. Mr. Putin has gained from this as the increasingly autocratic Mr. Xi finds common cause with the Kremlin. “Much depends on whether authoritarian leaders perceive climate action to be in their self-interest.”Though their actions help Mr. Putin, their track records on climate are mixed. Mr. Xi called Mr. Putin his “best friend.”He was returning the favor from a year earlier, when Mr. Putin hosted Mr. Xi at the Grand Kremlin Palace and awarded him one of Russia’s highest medals for foreign dignitaries. At a news conference with Mr. Putin, Mr. Bolsonaro thanked his “dear friend,” saying that Mr. Putin had offered him support when other world leaders were criticizing his Amazon policy.

☆ Factbox: Energy crisis revives coal demand and production
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +6 min

France - The Emile Huchet coal power plant restarted in early October, only six months after it closed, according to local media. Netherlands - Dutch energy minister Rob Jetten said in June the Netherlands will remove a production cap at coal-fired energy plants to preserve gas. In June, it said it plans to "increase thermal coal production from existing mines this year maximum by 1.5 million tonnes". Spain - The ministry for the ecological transition requested in May the delay of Endesa's As Pontes coal power station closure. (** Note that Ukraine's government has stopped releasing coal production data since the start of the war).

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