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☆ BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
▼ + stars: | 2024-04-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

(Photo by Sean Gallup/Getty Images)BlackRock CEO Larry Fink predicted Friday that the Federal Reserve likely will still cut interest rates this year but won't meet its inflation target. A report earlier this week showed inflation running at a 3.5% annual rate. Still, Fink expects the Fed to do some reductions this year while it may have to concede that inflation will remain elevated. "Inflation has moderated and we've always said inflation is going to moderate. Fink spoke the same day BlackRock reported quarterly earnings that topped Wall Street expectations both for profit and revenue.

Persons: Larry Fink, Sean Gallup, it's, Fink, we're, " Fink, we've Organizations: UNITED, Expo City, United Arab Emirates, Getty, Federal Reserve, Fed, Federal, BlackRock Locations: DUBAI, EMIRATES, Expo City Dubai, Dubai, United Arab

☆ Will leaders stay focused on the green agenda? Watch CNBC’s Sustainable Future Forum from Davos 2024
▼ + stars: | 2024-01-25 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

CNBC's "Sustainable Future Forum" returned as a special event live from the 54th Annual Meeting of the World Economic Forum in Davos, Switzerland. CNBC convened top policymakers and business leaders to evaluate the outcomes of COP28 and examine what needs to happen in 2024 to ensure pledges are upheld, and progress is made. This panel examines what needs to happen to stay on course. watch nowNavigating the Energy TransitionCOP28 climate summit reached a historic deal to transition away from fossil fuels but did the agreement go far enough? Guests on the panel included: Marco Alvera, CEO, TES Vaishali Sinha, co-founder, ReNew Alfred Stern, CEO, OMV Bold Baatar, CEO, Rio Tinto Copper Henrik Andersen, CEO, Vestas

Persons: Badr Jafar, Daniel F, Feldman, John Kerry, Biden Rachel Kyte, Sanda Ojiambo, Tania Bryer, Kofi Annan, Marco Alvera, TES Vaishali Sinha, Alfred Stern, OMV, Rio Tinto Copper Henrik Andersen, Vestas Organizations: Economic, CNBC, Crescent Petroleum, Business, Philanthropy, Conference of, UN, Partner, Staff, Initiative, Energy, TES Vaishali, Rio Tinto Copper Locations: Davos, Switzerland, Dubai, Covington, Rio

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

☆ Pacific Islands lash out at COP28 presidency: ‘We weren't in the room’ when deal was announced
▼ + stars: | 2023-12-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Anne Rasmussen, the lead negotiator for the Alliance of Small Island States (AOSIS), told the COP28 Presidency in a closing statement: "We are a little confused about what just happened." "It seems that you gavelled the decisions, and the small island developing states were not in the room. Participants attend a presentation at the Moana Blue Pacific pavilion of Pacific islands prior to the opening ceremony of the UNFCCC COP28 Climate Conference at Expo City Dubai on November 30, 2023 in Dubai, United Arab Emirates. Sean Gallup | Getty Images News | Getty ImagesFor Pacific Island nations, however, and many other island and low-lying coastal states vulnerable to rising sea levels, the deal falls severely short. For the Pacific Islands, climate change poses an existential threat.

Persons: Michael Runkel, Tina Stege, Anne Rasmussen, Sean Gallup, Brianna Fruean, we've, Fruean, weren't, Toeolesulusulu Cedric Schuster Organizations: Getty Images, United Arab Emirates — Representatives, Pacific, United Arab, Marshall, Alliance of Small, States, UAE, Expo City, Getty, Big Oil, Pacific Climate Warriors, CNBC, UNITED, Natural Resources, United Arab Emirates Locations: Ouvea, New Caledonia, Getty Images DUBAI, United Arab, United Arab Emirates, Pacific, Expo City Dubai, Dubai, Paris, DUBAI, EMIRATES, Samoa, States

☆ 'Beyond justification': Record number of fossil fuel lobbyists attend COP28 climate talks in Dubai
▼ + stars: | 2023-12-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

A man wearing a thawb walks past flags of nations participating in the UNFCCC COP28 Climate Conference the day before its official opening on November 29, 2023 in Dubai, United Arab Emirates. DUBAI, United Arab Emirates — Nearly 2,500 fossil fuel lobbyists are estimated to have been granted access to the COP28 climate conference in the United Arab Emirates, according to an analysis from advocacy groups, reflecting a sharp increase from last year. A report published Tuesday by the Kick Big Polluters Out coalition found that at least 2,456 fossil fuel lobbyists registered to attend the two-week long summit. That's more than almost every other country delegation, except for Brazil (3,081) and COP28 host the United Arab Emirates (4,409), the analysis said. Campaigners say the number of fossil fuel lobbyists attending the talks is "beyond justification" and signals that polluting industries are seeking to advance a fossil fuel agenda at the expense of frontline communities.

Persons: Ernest Moniz, Muhammed Lamin Saidykhan, Big Organizations: United Arab Emirates, International Energy Agency, CNBC, Polluters, Climate Action Network Locations: Dubai, United Arab, DUBAI, Brazil

☆ Time to say 'the F-words'? A fossil fuel fight takes center stage at the COP28 climate summit
▼ + stars: | 2023-12-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Sultan al-Jaber, president of the UNFCCC COP28 climate conference, speaks during day two of the summit on Dec. 2, 2023 in Dubai, United Arab Emirates. Sean Gallup | Getty Images News | Getty ImagesDubai, UNITED ARAB EMIRATES — A fight over the future of fossil fuels has been thrust into the global spotlight at the COP28 climate summit. "Unabated" fossil fuels are largely understood to be produced and used without substantial reductions in the amount of emitted greenhouse gases. "[It is] important to say that more fossil fuels equal more loss and damage, so these two issues are actually quite intertwined." Notably, at last year's COP27 conference in Egypt, more than 80 countries supported a fossil fuel phase-out commitment in the final agreement.

Persons: Sultan al, Jaber, Sean Gallup, Johan Rockstrom, There's, Darren Woods, Catherine Abreu, Abreu Organizations: Getty, Getty Images, UNITED, EMIRATES, Potsdam Institute, Climate, Climate Impact Research, CNBC, AG, United Arab, Oil, Exxon Mobil Locations: Dubai, United Arab Emirates, Getty Images Dubai, COP28, Salzgitter, Germany, Russia, Egypt

☆ UAE seeks to silence critics with $30-billion climate fund pledge with BlackRock, Brookfield
▼ + stars: | 2023-12-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Sultan Ahmed Al Jaber, President of the UNFCCC COP28 Climate Conference, attends a press conference following the opening session of the conference on November 30, 2023 in Dubai, United Arab Emirates. The United Arab Emirates on Friday said it would contribute $30 billion to a new climate-oriented fund, with finance juggernauts BlackRock, Brookfield and TPG stepping in as inaugural launch partners. Its activity will center on areas including the energy transition, industrial decarbonization and climate technology. The announcement was made on the second day of the COP28 climate summit in the UAE. COP28 President Sultan al-Jaber, who also serves as chief executive of the Abu Dhabi National Oil Company (ADNOC), will chair the board of Alterra.

Persons: Sultan Ahmed Al Jaber, Sultan al, Jaber Organizations: Conference, United Arab Emirates, United, juggernauts BlackRock, TPG, Global, Abu Dhabi National Oil Company Locations: Dubai, United Arab, Brookfield, Latin America, Asia, Africa, Oceania, UAE, Abu Dhabi

☆ UN chief says ending fossil fuel use is only way to save burning planet
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

"We cannot save a burning planet with a fire hose of fossil fuels," Guterres said in a speech to the COP28 summit in Dubai. "The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. He urged fossil fuel companies to invest in a transition to renewable energy sources and told governments to help by forcing that change - including through the use of windfall taxes on industry profits. "I urge governments to help industry make the right choice – by regulating, legislating, putting a fair price on carbon, ending fossil fuel subsidies, and adopting a windfall tax on profits," he said. Reporting by William James, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lalla Hasna, Luiz Inacio Lula da Silva, Antonio Guterres, Simon Stiell, Guterres, William James, Elizabeth Piper Organizations: United Nations, Thomson Locations: DUBAI, Dubai

☆ Impossible not to be disappointed at failure to meet Paris goals, says former UNFCCC advisor
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailImpossible not to be disappointed at failure to meet Paris goals, says former UNFCCC advisorTom Rivett-Carnac, former executive advisor at the UNFCCC (United Nations Framework Convention on Climate Change), discusses how countries are attempting to meet their nationally determined contributions, and explains what COP28 chief Sultan Al Jaber can do to restore credibility after allegations that he planned to use the event to make oil deals.

Persons: Tom Rivett, Sultan Al Jaber Organizations: Paris, UNFCCC, United Nations

☆ Countries at COP28 approve climate disaster fund deal details in early breakthrough
▼ + stars: | 2023-11-30 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

A man wearing a thawb walks past flags of nations participating in the UNFCCC COP28 Climate Conference the day before its official opening on November 29, 2023 in Dubai, United Arab Emirates. Dubai, UNITED ARAB EMIRATES — Countries at the U.N. COP28 summit on Thursday agreed on deal details for a disaster fund to help nations reeling from damages caused by the climate crisis. So far, the pledges to the fund include $100 million from Germany, $100 million from the United Arab Emirates, $17 million from the U.S. and $10 million from Japan. High-income countries, which account for the bulk of historical greenhouse gas emissions, have long opposed the creation of a loss and damage fund to compensate low-income nations. Avinash Persaud, special climate envoy to Barbados, said that the deal reflects "a hard fought historic agreement."

Persons: Friederike Roder, Roder, Avinash Persaud Organizations: United Arab Emirates, UNITED, EMIRATES, United Arab, Bank, Global Citizen Locations: Dubai, United Arab, COP28, United Arab Emirates, COP27, Egypt, Germany, U.S, Japan, Barbados

Here's a rough guide to the jargon being used in Dubai at COP28, this year's United Nations climate change conference. The term "climate change" is used more broadly to describe global warming and its consequences, including variable weather extremes. GHGs include a myriad of gases, but the most impactful — methane and carbon dioxide — are also referred to as "carbon emissions" because both molecules contain carbon. The world's excess carbon emissions come mostly from the burning of fossil fuels and other industrial activities. UNFCCC - The United Nations Framework Convention on Climate Change is the treaty adopted in 1992 agreeing to halt climate change.

Persons: Amanda Perobelli, COP21, NDCs, Gloria Dickie, Katy Daigle, Rod Nickel, Aurora Ellis Organizations: United Nations, Paris, Thomson Locations: Amazonia, Nova Xavantina, Mato Grosso, Brazil, Dubai, COP28, United Nations, China, PARIS, Paris, Glasgow, COP27, London

☆ COP28 host UAE planned to use the event to make oil deals, leaked notes suggest
▼ + stars: | 2023-11-27 | by ( Angela Dewan | Rosa Rahimi | ) edition.cnn.com time to read: +7 min

The UAE has already been at the center of widespread criticism for appointing its top oil and gas chief to preside over COP28. The US, China, France, Germany and the UK are among the countries with briefing notes published by the Centre for Climate Reporting. The briefing notes read as would be expected for such meetings, until the end of each country’s notes, where suggestions to promote ADNOC and Masdar are included. The notes did not suggest oil and gas projects would be discussed with all those countries. For the US, for example, the briefing notes touch on potential renewable energy deals, saying Masdar hoped to grow its presence in the US by carrying out “acquisitions” in the short term.

Persons: Sultan Al Jaber —, Al Jaber, ADNOC, Al Jaber helms, Masdar, ”, Kaisa Organizations: CNN, United, Emirates ’, Climate, Abu, Abu Dhabi National Oil Company, BBC, Centre, UN, UNFCCC, Greenpeace International Locations: Abu Dhabi, UAE, China, France, Germany, Russia, Ukraine, Mozambique, Canada, Australia, Venezuelan, Azerbaijan, Europe, Egypt, Kenya, Mexico, Netherlands, Norway, Saudi Arabia, Switzerland

☆ UAE reportedly planned to use COP28 climate summit to lobby for oil and gas deals
▼ + stars: | 2023-11-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The president of the upcoming COP28 climate change Sultan Ahmed al-Jaber speaks during the Abu Dhabi International Petroleum Exhibition at ADNEC Exhibition Center October 2, 2023. Jaber told an Abu Dhabi oil conference on October 2, 2023, that the fossil fuel industry would play an essential role in addressing the climate crisis. Al-Jaber was the founding CEO of Abu Dhabi state-owned renewable energy firm Masdar. CCR, which has received funding from the likes of Greenpeace and Rockefeller Philanthropy Advisors, said it was able to verify the accuracy of the leaked documents via an unnamed whistleblower. The United Nations Framework Convention on Climate Change did not immediately respond to a CNBC request for comment on the leaked documents.

Persons: Ahmed al, Jaber, Ryan LIM, RYAN LIM, Al, ADNOC, Masdar Organizations: Abu, Abu Dhabi International Petroleum, Exhibition, Getty, United Arab, Abu Dhabi National Oil Company, Al, Centre, Climate Reporting, BBC, CCR, Greenpeace, Rockefeller Philanthropy Advisors, CNBC, United Nations Locations: Abu Dhabi, AFP, United Arab Emirates, Masdar, China, Egypt, United, Dubai

Here are some of the main players and negotiating blocs involved in the COP28 conference starting Nov. 30 in Dubai. In climate negotiations, Beijing argues that wealthy developed countries like the United States, the biggest historical CO2 emitter, should move first and fastest in climate policy and finance. Despite having the world's second largest economy after the United States, China considers itself as a developing nation in the climate talks. But U.S. delegates will face pressure for climate finance after Washington pledged no new climate cash to the United Nations this year. AFRICAN GROUP OF NEGOTIATORSAfrican countries will be pushing at COP28 for climate finance and financial mechanisms to speed up green energy projects.

Persons: Rula, Kate Abnett, Katy Daigle, Josie Kao Organizations: Abu Dhabi Sustainability, REUTERS, UNITED, Washington, United Nations, EU, GROUP, Marshall, European Union, Thomson Locations: UAE, Abu Dhabi, Dubai . CHINA China, China, Beijing, United States, U.S, Union, United, United Kingdom, London, Brazil, South Africa, India, Saudi Arabia, CHINA, Kenya, Ethiopia, Senegal, Mozambique, Vanuatu, Costa Rica

☆ Climate change: Countries’ emissions plans put the world ‘wildly off track’ to contain heating, UN assessment shows
▼ + stars: | 2023-11-14 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

This reveals a stark gap between the course nations are charting and what science says is needed to avert the most catastrophic impacts of climate change. The hurricane’s intensification — a phenomenon linked to climate change — was among the fastest forecasters had ever seen. It found that if all long-term strategies were implemented on time, these countries’ emissions could be roughly 63% lower in 2050 compared to 2019. “COP28 is our time to change that.”At COP28, countries will complete the global stocktake exercise, where they assess progress on climate action. The process is intended to feed into the next round of more ambitious national climate action plans due to be submitted to the UN in 2025.

Persons: —, ”, Simon Stiell, General António Guterres, Quetzalli, ” Stiell, “ Organizations: CNN, UN, United Nations, Reuters Locations: Paris, Hurricane, Acapulco, Mexico, Dubai, “, COP28

But even EU countries clashed over how ambitious to be - and their ministers were locked in talks into the evening on Monday. The faultlines tended to fall between wealthier EU members seeking rapid climate action, and poorer economies concerned about the cost of quitting fossil fuels. Another submission, by Saudi Arabia, did not explicitly mention a fossil fuel phase-out. 'NOT VERY HOPEFUL'The resistance shows how hard it will be to strike an ambitious climate deal at COP28. "I am not very hopeful," Carlos Fuller, U.N. climate negotiator for Belize, said of the fossil fuels phase-out - which Belize supports.

Persons: Wolfgang Rattay, Carlos Fuller, COP28, Jennifer Morgan, Natalie Jones, Kate Abnett, Glwadys Fouche, Katy Daigle, Barbara Lewis Organizations: REUTERS, Rights, Diplomats, Reuters, African Group, International Institute for Sustainable Development, Thomson Locations: Niederaussem, Germany, Rights BRUSSELS, Poland, Czech Republic, COP28, Russia, Saudi Arabia, Belize, COP27, China, Japan, United States, Colombia, Norway, U.N, Paris, Oslo

☆ India succeeds in reducing emissions rate by 33% over 14 years - sources
▼ + stars: | 2023-08-09 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

REUTERS/Adnan Abidi/File PhotoNEW DELHI, Aug 9 (Reuters) - India's greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy generation rose and forest cover increased, according to two officials privy to latest assessment made for submission to the United Nations. India's rate of emissions intensity - the total amount of greenhouse gas emissions emitted for every unit increase of gross domestic product (GDP) - fell by 33% from 2005 to 2019, officials privy to the preparations of the Third National Communication (TNC) report said. India's average rate of reduction in emissions increased to 3% annually in the period 2016-2019, from just about 1.5% in the period 2014-2016. The progress made on reducing emissions intensity should help India avert pressure by developed nations to stop using coal, the second official said. Recently, India has also been trying to promote green hydrogen, manufactured by splitting water molecules using renewable energy.

Persons: Adnan Abidi, Sarita Chaganti Singh, Simon Cameron, Moore Organizations: REUTERS, United Nations, National Communication, Reuters, Reuters . Central Electricity Authority, Reuters Graphics Reuters, Thomson Locations: New Delhi, India

☆ PM Sunak says UK climate record 'better than everyone else's'
▼ + stars: | 2023-08-02 | by ( Alistair Smout | ) www.reuters.com time to read: +2 min

LONDON, Aug 2 (Reuters) - British Prime Minister Rishi Sunak defended his government's policies on the environment on Wednesday after criticism from campaigners, saying its record on cutting carbon emissions is better than other major countries. Britain adopted the target of reaching net zero carbon emissions by 2050 under former Prime Minister Theresa May and was quick to build up its renewable energy capacity in earlier years. Asked on LBC radio whether he was a "dangerous radical" for wanting increased production of fossil fuels, Sunak defended Britain's climate record. It's better than everyone else's," Sunak said during questions with LBC listeners. Sunak said he cared about Britain reaching the target of net zero by 2050 and wanted to leave the environment and the climate in a better state for his children.

Persons: Rishi Sunak, Theresa May, Sunak, YouGov, Alistair Smout, Angus MacSwan, Nick Macfie Organizations: British, LBC, United Nations, Britain, Thomson Locations: Britain

☆ House Republicans target proxy advisors in latest hearing picking apart ESG investing
▼ + stars: | 2023-07-13 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — A Republican-led House Financial Services subcommittee held a second hearing Thursday scrutinizing the Biden administration's environmental, social and governance disclosure proposals for public U.S. companies. The hearing zeroed in on the influence of proxy advisors on shareholder voting decisions on questions related to ESG investing. Republicans pushed back against what they called the prioritization of ESG shareholder resolutions, while Democrats say shareholders deserve to be informed of all possible risks to their investments. The hearing was the second of six scheduled this month on ESG investing by House Republicans. The GOP's push against policies designed to promote ESG investing has garnered the support of some of the largest business advocacy groups, such as the Business Roundtable and the National Association of Manufacturers.

Persons: WASHINGTON —, Ann Wagner, Glass Lewis, Wagner, Gary Gensler, Trump, Chris Netram, — rescinding, Netram Organizations: Republican, Financial Services, Biden, Capital Markets, House Republicans, GOP, SEC, Securities, Exchange, Business, National Association of Manufacturers, NAM Locations: Bonn, Germany

REUTERS/Kim... Read moreLONDON/WASHINGTON, July 10 (Reuters) - When it comes to taking stock of global emissions, there's an elephant in the room: the world's armed forces. NATO, the 31-country Western security alliance, for example, told Reuters it has created a methodology for its members to report their military emissions. And Washington sent U.S. Army and Navy representatives to the COP27 climate summit in Egypt last year, the first time a Pentagon delegation has attended the global climate summit. Ukraine's environment ministry spokesperson said it supports the efforts and would seek backing from governments at COP28 for more transparent military emissions reporting. In the meantime, global military emissions will remain poorly understood, said Stuart Parkinson, executive director of the group Scientists for Global Responsibility.

Persons: Kim, Queen Mary, Axel Michaelowa, Meredith Berger, Neta Crawford, Deborah Burton, Lennard, Klerk, James Appathurai, Markus Ruelke, Stuart Parkinson, Sarah McFarlane, Valerie Volcovici, Sabine Siebold, Richard Valdmanis, David Clarke Organizations: REUTERS, Observatory, United Arab Emirates, UNFCCC, COP28, NATO, Reuters, Washington, U.S . Army, Pentagon, U.S . Navy, The, U.S . Defence Logistics Agency, U.S . Department of Defense, Oxford University, Oxford, Queen Mary University of London, Scientists, Global, Thomson Locations: South Korea, U.S, Pocheon, WASHINGTON, Kyoto, Paris, Lancaster, Oxford, Dubai, UAE, Zealand, Britain, Germany, Egypt, The U.S, Afghanistan, Iraq, Ukraine, Singapore, Switzerland, Syria, COP28, Berlin

☆ Cash and carbon cuts stall UN climate talks — setting the stage for a 'huge fight' at COP28
▼ + stars: | 2023-06-16 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) looks on during the opening session at the UNFCCC SB58 Bonn Climate Change Conference on June 05, 2023 in Bonn, Germany. The Bonn Climate Change Conference, which wrapped late Thursday, is designed to prepare decisions for adoption at the COP28 summit in the United Arab Emirates later this year. For many at the two-week-long event, the lack of progress on issues such as climate finance and the pace of cuts in carbon pollution left a lot to be desired. The UAE, the third-largest oil-producing member of the Organization of the Petroleum Exporting Countries, will host the COP28 summit from Nov. 30 to Dec. 12. WRI's Waskow said that, while the thorny issue of climate finance was not on the official agenda, "it clearly cast a shadow over the negotiations."

Persons: Simon Stiell, David Waskow, Waskow, WRI's Waskow Organizations: United Nations, Change, United Arab, World Resources Institute, Organization of, Petroleum Locations: Bonn, Germany, United Arab Emirates, UAE, Paris, Dubai

☆ India plans to classify clean activities, technologies under a new policy -sources
▼ + stars: | 2023-01-27 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 27 (Reuters) - India is working on a policy to classify economic activities and technologies into sustainable and non-sustainable categories to help investors looking for green projects, three government officials say. The renewable energy ministry and the finance ministry are working on the draft policy. The officials said the draft framework is the first step in a long process of identifying sustainable projects and phasing out others. The EU also places green investment disclosure obligations on financial companies, pension funds, companies and financial market participants. Last week, India sold its first sovereign green bonds worth a total of 80 billion rupees, at yields below comparable government bonds.

☆ 5 key takeaways from Climate Week NYC 2022
▼ + stars: | 2023-01-17 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com time to read: +5 min

The importance of addressing climate change has never been greater. No single business or organization can tackle climate change on its own. On the first day of Climate Week NYC, industry experts gathered to discuss what's stopping us from getting climate action done. Helping small and medium-sized customers optimize their climate efforts allows companies with the resources and reach of Hitachi to extend climate action beyond their current offerings. Discover how Hitachi is getting it done by driving climate action through its sustainable technologies and solutions.

☆ G20 agrees to pursue efforts to limit temperature rise to 1.5C
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +3 min

Delegates at the U.N. climate summit in Sharm el-Sheikh, Egypt, where progress towards an agreement by the end of the week has been slow, have been watching the G20 summit closely for signs that developed nations are willing to make new commitments on climate. "We resolve to pursue efforts to limit the temperature increase to 1.5°C. This will require meaningful and effective actions and commitment by all countries," the G20 statement said. It also made reference to the need to accelerate "efforts towards the phasedown of unabated coal power, in line with national circumstances and recognising the need for support towards just transitions." "We will play our part fully in implementing the (COP26) Glasgow Climate Pact," the G20 leaders said.

☆ COP27 considering loss and damage fund among other finance options - draft text
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

SHARM EL-SHEIKH, Egypt, Nov 14 (Reuters) - The United Nations on Monday published a draft text setting out what the COP27 climate summit could agree on the subject of 'loss and damage' financing for countries being ravaged by climate impacts. The draft text, which could change before it is adopted at the conclusion of the summit and in places contained multiple options, included a reference to the establishment of a new U.N.-administered fund. The document said: "Arrangements for funding for responding to loss and damage may include:a) A new fit-for-purpose fund under the UNFCCC;b) An operating entity of the Financial Mechanism;c) The strengthening of existing operating entities of the Financial Mechanism, recognizing their governance/governing instruments;d) Public finance, including in the form of grants;e) Grant-based funding from multiple sources;f) Development finance;g) Debt reliefh) Reform of multilateral development banks and international financial institutions;i) Humanitarian assistance;j) Innovative sources of funding;"Reporting by William James; editing by Dominic EvansOur Standards: The Thomson Reuters Trust Principles.

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