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Global regulators have called on the EU and ISSB to make their climate disclosures interoperable to avoid competing norms confusing cross-border investors. An advisory body is due to present technical guidance to the European Commission on how to implement the disclosures. The ISSB hopes the EU could move towards its definition of materiality, which is drawn from accounting norms already being applied by EU companies in financial statements. The U.S. Securities and Exchange Commission, however, is facing pressure to ditch Scope 3 from its draft climate disclosures. It said it will apply the ISSB's climate disclosure standard in its work.

☆ COP27: How Lewis Pugh braved sharks and shipping containers in the world's first swim across the Red Sea
▼ + stars: | 2022-11-10 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

Lewis Pugh had to contend with large shipping vessels while swimming across the Red Sea. Pugh completed his swim across the Red Sea -- home to some of the world's most biodiverse coral reefs -- in 16 days. The Lewis Pugh FoundationFor sections of the swim, Pugh was joined by open-water swimmer Mariam Saleh Bin Laden – who became the first Arab, first Saudi and first woman to swim from Saudi Arabia to Egypt – and Egyptian swimmer Mostafa Zaki. The purpose of the swim was to shine a spotlight on the world’s coral reefs – home to the earth’s most vibrant marine ecosystems – and their precarious status amid the climate crisis. The Lewis Pugh FoundationThis week, Pugh has traveled to the COP27 climate summit in Sharm El-Sheikh, Egypt – a location he passed during his swim across the Red Sea.

REUTERS/Emilie MadiSHARM EL SHEIKH, Egypt, Nov 10 (Reuters) - U.S. Democratic lawmakers at the UN climate summit in Egypt expressed concern on Thursday that Republican gains in the midterm Congressional elections could spell trouble for America's efforts to fight climate change. Speaking on the same panel, House Speaker Nancy Pelosi criticised lawmakers who disagree global warming is a real problem, and said Democrats and Republicans would have to work together to combat climate change. "We have to get over that," Pelosi said of lawmakers who have claimed climate change is a hoax. A delegation of Republican lawmakers arrived on Thursday in Sharm El-Sheikh separately from the Democrats and will hold an event on Friday. Last year, Biden pledged to double funds to help developing nations adapt to the effects of climate change by 2024 to $11.4 billion per year.

☆ Young Kenyan tree activist speaks up for Africa at COP27
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

[1/3] Elizabeth Wathuti, Kenyan environment and climate activist looks at the leaves of a tree during a Reuters interview at the Nairobi Arboretum, botanical garden, in Nairobi, Kenya October 8, 2022. REUTERS/Edwin WaitaNAIROBI, Nov 10 (Reuters) - Elizabeth Wathuti channelled her frustration and sadness over the damage to natural habitats including Kenyan forests close to her childhood home into a life of activism, founding Green Generation Initiative to raise awareness through tree growing. Six years after starting the environmental advocacy group, Wathuti is one of Kenya's most ardent voices in the struggle against climate change, a voice she is hoping will be heard by world leaders gathered in Egypt for the COP27 climate summit. Wathuti was one of the young people calling for urgent action as the U.N. climate conference marked its traditional Young and Future Generations Day on Thursday. Reporting by Edwin Waita Writing by Estelle Shirbon Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

He'll hold his first face-to-face meeting with Chinese counterpart Xi Jinping at the G20, where he hopes to explore Xi's "red lines", talk to allies about punishing Russia for its Ukraine invasion and discuss containing North Korea after a barrage of missile tests. On Wednesday, Biden said U.S. aid for Ukraine will continue uninterrupted and any territorial compromise between the two countries is up to Ukraine. Putin will not attend the G20 summit in person but is due join one of the meetings virtually, an Indonesian government official said. They will address North Korea's "unlawful weapons of mass destruction and ballistic missile programs," the official said. Biden will "continue to urge the Egyptian government to release political prisoners and undertake human rights related legal reforms," said one of the officials.

☆ China Resists Climate Pressure From West, but Makes Gains on Its Own
▼ + stars: | 2022-11-09 | by ( Phred Dvorak | Sha Hua | ) www.wsj.com time to read: 1 min

China is sending a large delegation to the United Nations climate summit in Egypt, but it is unlikely to bow to demands to strengthen its pledge to reduce greenhouse-gas emissions, China energy experts say. The country wants to appear independent, rather than in collaboration with the U.S., when it makes any new climate commitments, they say. It is facing criticism from the U.S. and other countries that its pledges to reduce greenhouse-gas emissions aren’t aggressive enough.

SHARM EL-SHEIKH, Egypt, Nov 9 (Reuters) - U.S. climate envoy John Kerry on Wednesday announced the creation of a carbon offset plan meant to help developing countries speed their transition away from fossil fuels. Kerry launched the Energy Transition Accelerator (ETA) with the intention of funding renewable energy projects and accelerating clean energy transitions in developing countries. Kerry added that the carbon credits used in the program would be "high quality" and meet "strong safeguards". Kerry said Guterres was supportive of the U.S.-led carbon market initiative provided there were safeguards to it. At the event launch, a protester interrupted Kerry saying: "You’re providing false solutions.”Kerry responded that fossil fuel companies would not participate in the program.

☆ Energy security trumps the climate? London’s biggest IPO of the year is an oil company
▼ + stars: | 2022-11-09 | by ( Julia Horowitz | ) edition.cnn.com time to read: +3 min

That’s one lesson from the initial public offering on Wednesday of Ithaca Energy, a North Sea oil and gas producer — which went ahead as world leaders gathered for the UN climate summit in Egypt. The best performing stock so far this year on London’s FTSE 250 index is Energean, which focuses on gas projects in the North Sea and Mediterranean. The North Sea is an aging basin, and oil and gas giants like Chevron (CVX), Exxon (XOM) and Shell (RDSA) have been winding down their presence. Piper said an oil and gas company is one of few that could get away with a listing on the market right now. “That’s going to impact the value of all North Sea oil producers,” Piper said.

[1/4] China's chief climate negotiator Xie Zhenhua speaks during a news conference at the COP27 climate summit in Red Sea resort of Sharm el-Sheikh, Egypt, November 9, 2022. REUTERS/Mohamed Abd El GhanySHARM EL-SHEIKH, Egypt, Nov 9 (Reuters) - China would be willing to contribute to a mechanism for compensating poorer countries for losses and damage caused by climate change, its climate envoy Xie Zhenhua said on Wednesday at the United Nations COP27 climate summit in Egypt. Xie said China had no obligation to participate, but stressed his solidarity with those calling for more action from wealthy nations on the issue, and outlined the damage China had suffered from climate-linked weather extremes. He added that China already contributed billions of yuan to developing countries to help with their mitigation efforts. "The door is absolutely closed by (the United States)," he said.

"Many countries faced with sharply rising energy costs and heightened security of supply concerns are turning to nuclear power," the IAEA said in a release announcing the exhibit. "We don't get to net zero by 2050 without nuclear power in the mix." The United States has already earmarked billions of dollars toward keeping existing nuclear power plants open as part of a broader strategy to decarbonize the economy and is hoping to encourage new projects. The nuclear power industry has had trouble raising money in recent years, having taken a huge public relations hit following the 2011 reactor meltdown at the Fukushima power plant in Japan. Even so, Hannah Fenwick, the co-lead of Nuclear for Climate which represents a network of 150 associations advocating for governments to embrace nuclear power, said her organization was lobbying policy-makers at COP27 to consider nuclear energy investments and was getting decent feedback.

☆ The US is creating a carbon-offset plan for corporations that would fund developing countries' moves to clean energy
▼ + stars: | 2022-11-09 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

The plan would create revenue to fund developing countries' moves toward clean energy. "This is a critical tool that will supplement, not replace, other sources of climate finance." The US will also consult with organizations that are trying to improve the scientific integrity of carbon credits. "Buying emissions reductions from developing countries is not the same thing as channeling climate finance and raises questions about who can count the reductions." African nations unveiled their own carbon-market initiative Tuesday, with an aim to supply 300 million carbon credits each year by 2030 and raise up to $6 billion.

“All of the members are committed to net zero, particularly many developing countries who certainly have a lot of issues to deal with. But all of them are committed,” Asian Infrastructure Investment Bank (AIIB) President Jin Liqun told CNN’s Becky Anderson in an interview Tuesday at UN climate summit COP27. China is the world’s largest carbon emitter of fossil fuels, but has committed to net zero goals by 2060. He did not mention China’s coal sector, which produces much of the country’s methane emissions, in addition to carbon dioxide emissions. China produces the most methane emissions from coal mines in the world, according to the US Environmental Protection Agency.

Top 10 oil & gas CO2 emittersMore than 40% of the oil and gas sector emissions came from China's two largest oil majors alone - Sinopec (600028.SS) and PetroChina (601857.SS) - while investor staples including Shell (SHEL.L), Saudi Aramco (2222.SE) and Chevron also ranked high in the emissions table. As hefty as their collective discharges have been, however, oil and gas companies have not been the only steady polluters. Top 10 power companies by CO2 emissionsOnce again, China-based companies came out on top, and accounted for over half of the CO2 from the 10 largest global firms in the utilities and power segment last year. However, companies from the United States, Europe, India and Japan also made the top 10 leader board, underscoring the wide scope of polluters on the global emissions stage. STEELY RESOLVEGlobal metals and mining firms also racked up a significant collective emissions tally in 2021, hitting close to 600 million tonnes of CO2 and equivalent gases.

☆ World leaders insist Russia's war in Ukraine must be a reason to act even faster on climate
▼ + stars: | 2022-11-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

SHARM EL-SHEIKH, Egypt — World leaders took to the stage on the opening days of the U.N.'s flagship climate summit to insist Russia's onslaught in Ukraine must not derail urgent and collective action to prevent catastrophic global heating. World leaders on Monday and Tuesday convened in Egypt's Red Sea resort town of Sharm el-Sheikh to deliver national statements on the battle to secure a livable future. "Climate security goes hand in hand with energy security," U.K. Prime Minister Rishi Sunak said at the U.N.-brokered talks. Russian President Vladimir Putin's "abhorrent war in Ukraine and rising energy prices across the world are not a reason to go slow on climate change. They are a reason to act faster," Sunak said on Monday.

☆ Ukraine’s Zelensky Sets Conditions for ‘Genuine’ Peace Talks With Russia
▼ + stars: | 2022-11-08 | by ( Matthew Luxmoore | ) www.wsj.com time to read: 1 min

Ukrainian President Volodymyr Zelensky said he was open to negotiations with Russia if they are focused on safeguarding Ukraine’s territorial integrity, compensating Kyiv and bringing to justice perpetrators of war crimes. Speaking ahead of his address to a global climate summit in Egypt on Tuesday, Mr. Zelensky said late Monday: “Anyone who treats seriously the climate agenda should just as seriously treat the necessity of immediately stopping Russian aggression, resuming our territorial integrity and forcing Russia into genuine peace talks.”

☆ Leaders push for climate action and fossil tax at UN talks
▼ + stars: | 2022-11-08 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

SHARM EL-SHEIKH, Egypt — World leaders are making the case for tougher action to tackle global warming Tuesday, as this year’s international climate talks in Egypt heard growing calls for fossil fuel companies to help pay for the damage they have helped cause to the planet. United Nations chief Antonio Guterres warned Monday that humanity was on “a highway to climate hell with our foot on the accelerator,” urging countries to “cooperate or perish.”Leaders gather during the COP27 climate summit in Egypt's Sharm el-Sheikh on Monday. Ludovic Marin / AFP - Getty ImagesHe and leaders such as Barbados Prime Minister Mia Mottley said it was time to make fossil fuel companies contribute to funds which would provide vulnerable countries with financial aid for the climate-related losses they are suffering. The idea of a windfall tax on carbon profits has gained traction in recent months amid sky-high earnings for oil and gas majors even as consumers struggle to pay the cost of heating their homes and filling their cars. The U.S. mid-term elections were hanging over the talks Tuesday, with many environmental campaigners worried that defeat for the Democrats could make it harder for President Joe Biden to pursue his ambitious climate agenda.

☆ U.S. must make much deeper emissions cuts to meet climate goals -government report
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - The United States needs to make far faster and deeper cuts to greenhouse gas emissions over the next three decades to meet international goals to rein in the worst effects of climate change, according to a government report issued on Monday. The United States is the world's second biggest emitter after China. The United States reduced emissions by 12% between 2007 and 2019, the report said, thanks to the adoption of renewable energy sources such as wind and solar and improved efficiency. The report laid out the harms climate change is already exacting in every part of the country in the form of drought, wildfires, heatwaves and other extreme events. It also cast climate change as a risk to "the things Americans most value" such as safe homes, healthy families, reliable public services and a sustainable economy.

☆ COP27: UAE and Egypt agree to build one of world's biggest wind farms
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +3 min

The Memorandum of Understanding was signed between the UAE's renewable energy firm Masdar alongside its joint venture with Egypt's main renewable energy developer Infinity and Hassan Allam Utilities, the statement on news agency WAM said. "With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt's renewable energy goals," Masdar's CEO Mohamed Jameel al-Ramahi said. When completed, the wind farm would be part of Egypt's Green Corridor initiative, a grid dedicated to renewable energy projects that is aimed at ensuring renewable energy makes up 42% of the country's energy mix by 2035. The wind project would save Egypt an estimated $5 billion in annual natural gas costs, the statement said. Egypt's total installed power capacity was around 59.5 GW in 2019/2020, the country's renewable energy authority said in an annual report.

☆ UN experts at COP27: Corporate climate pledges rife with greenwashing
▼ + stars: | 2022-11-08 | by ( Gloria Dickie | ) www.reuters.com time to read: +3 min

[1/2] Secretary-General of the United Nations Antonio Guterres, Egyptian President Abdel Fattah al-Sisi and others attend the COP27 climate summit in Sharm el-Sheikh, Egypt November 7, 2022. At last year's climate negotiations in Glasgow, U.N. Secretary-General Antonio Guterres appointed 17 experts to review the integrity of non-state net zero commitments amid concerns about "a surplus of confusion and deficit of credibility" involving corporate green boasting. "Bogus net zero claims drive up the cost that ultimately everyone will pay," she said. An estimated 80% of global emissions are now covered by pledges that commit to reaching net zero emissions. For example, a company cannot claim to be net zero if it continues to build or invest in new fossil fuel infrastructure or deforestation.

SHARM EL-SHEIKH, Egypt, Nov 8 (Reuters) - Small island nations suffering the brunt of climate change want Big Oil to pay for mounting damage from ocean storms and sea-level rise, Antigua's prime minister told delegates at the COP27 climate summit in Egypt on Tuesday. "The oil and gas industry continues to earn almost 3 billion United States dollars daily in profits," Browne said, speaking on behalf of the Alliance of Small Island States. "It is about time that these companies are made to pay a global carbon tax on their profits as a source of funding for loss and damage. Profligate producers of fossil fuels have benefited from extortionate profits at the expense of human civilization. Writing by Richard Valdmanis; Editing by Katy Daigle and Janet LawrenceOur Standards: The Thomson Reuters Trust Principles.

☆ COP27: What they are saying at the climate summit
▼ + stars: | 2022-11-08 | by ( Sri Lanka Zimbabwe Adds Quotes Leaders Of Poland | ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - World leaders, policymakers and delegates from nearly 200 countries are at the COP27 U.N. climate summit in Egypt, where they hope to keep alive a goal to avert the worst impacts of climate change. Profligate producers of fossil fuels have benefited from extortionate profits at the expense of human civilization. EMMERSON DAMBUDZO MNANGAGWA, PRESIDENT OF ZIMBABWE"Those mostly responsible for the climate crisis must listen and prioritize climate finance to help prevent disasters and climate victims recover. Developed nations should be giving leadership to work on climate challenges rather than abdicating their responsibilities. It is no secret that climate financing has missed the target….

☆ COP 27 Developing countries need $1 trillion a year in climate finance -report
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

The report, released ahead of talks on climate change finance at the COP27 summit in Egypt, said the funding was required to cut emissions, boost resilience, deal with damage from climate change and restore nature and land. "The world needs a breakthrough and a new roadmap on climate finance that can mobilise the $1 trillion in external finance that will be needed by 2030 for emerging markets and developing countries other than China," said the report, commissioned by the current and previous climate summit hosts, Egypt and Britain. It said the total annual investment requirement of developing countries would hit $2.4 trillion by 2030, with half coming from external financing and the rest from public and private sources in those countries. "Unlocking substantial climate finance is the key to solving today's development challenges," said Vera Songwe, one of the report's authors. Delegates at the climate summit in Egypt are expected to focus on financing issues on Wednesday.

☆ Factbox: COP27: Which countries have offered 'loss and damage' funds?
▼ + stars: | 2022-11-08 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

While vulnerable countries say one-off commitments are no substitute for a fund to provide ongoing support, some praised Scotland's leadership in acknowledging the issue. AUSTRIAAustria will provide at least 50 million euros to tackle loss and damage over the next four years, the government said on Tuesday. IRELANDIrish PM Micheal Martin committion 10 million euros to the "Global Shield" initiative for 2023. Some vulnerable countries say that type of funding does not count as "loss and damage" money, which they say should compensate countries for unavoidable costs from disasters. Wealthy countries already provide funds to help countries adapt to climate change by preparing for worse weather impacts, although this funding has fallen short of promised amounts.

☆ Billionaires emit a million times more greenhouse gases than the average person: Oxfam
▼ + stars: | 2022-11-08 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

The investments of 125 billionaires cause 393 million tonnes of carbon dioxide emissions each year according to a report published by global poverty charity Oxfam. The investments of 125 billionaires produce 393 million metric tonnes of carbon dioxide emissions every year, according to a report by Oxfam. The billionaires included in the study have a collective $2.4 trillion stake in 183 companies, which averages out at 3 million metric tonnes of carbon dioxide emitted per billionaire, per year. People outside the world's wealthiest 10% emit an average of 2.76 metric tonnes of carbon dioxide annually. The report by Oxfam analyzed how 125 of the world's richest people had invested their money and looked at the carbon emissions of those investments.

☆ 'After COP, I don't know if I'll be alive or not': Sister of the jailed Egyptian-British activist Alaa Abd el-Fattah calls for his release
▼ + stars: | 2022-11-08 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Egyptian-British activist Sanaa Seif is calling for her brother's release from an Egyptian jail. The Egyptian government has denied mistreatment, and this summer a member of the presidential-pardon committee said Abd el-Fattah was among those being considered for possible release, reported Al-Ahram, an Egyptian state-owned newspaper. He added that foreign intervention in human-rights reform in Egypt "is fated to fail" and would harm the country's people. Seif said her family has exhausted every legal route in Egypt to secure her brother's release, to no avail. "After COP, I don't know if I'll be alive or not," she said.

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