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Pointing to the need for an Earthscape approach to decision making, the paper identifies key ways in which the ocean both mitigates climate change by absorbing excess heat and carbon from the atmosphere and aggravates it, failure in ocean systems exacerbating extreme weather, shifting ocean currents and reducing its ability to absorb carbon.
We have to act much, much faster and go further in reducing the carbon footprint. New strategies will have to be created to align the company goals with the most basic climate-related requirements, such as setting targets to reduce carbon emissions. Success could help make the basin carbon-negative.”
The Treasury should set in stone a new fiscal rule for an annually-increasing carbon price in the UK, argues SSE chief executive Alistair Phillips-Davies. Ahead of COP26 in Glasgow I think it's imperative the Treasury installs a new fiscal rule: the need for an annually increasing carbon price.
Is the COP27 Summit that kicks off in Sharm El Sheikh this weekend the most important COP meeting yet, and therefore one of the most critical gatherings in the entire history of humanity? It is, by the admission of the Egyptian hosts, an "implementation COP". If COPs did not exist you would need to invent them.
The voluntary carbon offset market is rocketing, with the Ecosystem Marketplace reporting an annual market value of ~$1 billion in 2021, which was an all-time high. This can make things difficult for business leaders like you, looking to reduce their carbon footprint through purchasing offsets. The rules of carbon offsetting.
The IPCC recently conducted a study into the combined effects of all the agreed targets of the countries taking part in the ongoing COP talks. Has there been any progress in reducing global carbon emissions since Paris in 2015? And it’s not all about carbon emissions. Also, most countries will miss their targets.
Research body argues government must fix 'uneven' decarbonisation policies that continue to drive customers towards high carbon activities. The COP presidency provides us with a unique position, an opportunity, to move the debate forward and to accelerate global progress," he said.
to a carbon free economy by 2050, experts at Bloomberg and Princeton estimate that the US will have to build enough solar and wind farms to fill an area roughly five times the size of South Dakota. In the near-term, the conflict is exerting negative impacts on climate emissions. For example, to fully transition the U.S.
A new consensus on forests from the world’s leading carbon market governing body marks a significant turning point for voluntary carbon market (VCM) buyers. The ICVCM’s Core Carbon Principles (CCP) label is emerging as a global marker of carbon credit quality. Why Should Corporate Buyers Care About the ICVCM?
The Yorkshire-based biomass giant is among over a dozen signatories to an industry-backed document that claims bioenergy could increase its output to nearly threefold, and reduce net global emissions by over one billion tonnes of carbon dioxide by 2050. to Yorkshire, in the UK, and the emissions impact of burning wood for power. “It
This Conference of Parties (COP) was highly anticipated as a critical inflection point where our economies and societies set forth on an ambitious and clearly defined path to decarbonize by 2050 and keep warming below 1.5 CarbonNegative Shot is a U.S. Elemental’s portfolio companies are poised to accelerate progress on pledges.
The goings-on behind the scenes of COP 26, or kack thereof, have been well documented over the past few weeks. But despite the worrying progress of COP planning, all is far from being lost. With the new President in place COP will hopefully be back on track, allowing everyone to continue speculating what the conference will look like.
We found nearly two thirds of the 565 directors determining how these banks lend their money had current or past ties to oil, coal, gas, and other high-carbon sectors – revealing what campaigners called a “revolving door” between banks and polluting industries, and raising doubts about their commitment to reaching net zero.
The COP26 Climate Summit has been awarded an ISO20121 certificate for sustainability, after organisers successfully proved it minimised all potential negative impacts on the environment, communities, and local economy. UK Presidency confirms UN Climate Summit has secured an ISO20121 certificate.
Farming will be front and centre at this year’s COP. Animal agriculture is the largest emitter of methane, a greenhouse gas 80 times more potent than carbon dioxide when measured over a 20 year period. Several of these arguments reference the idea that grazing livestock can help maintain healthy soils which can store carbon.
The first few days of COP have ushered in a wave of major announcements and funding pledges. Al Jaber as Chairman of Alterra, and also host of COP28, has already stirred controversy due to his role as President of ADNOC and rumored intention to broker fossil fuel deals during COP. Happy Monday! Execution questions marks.
COP27's treatment of carbon markets was messy, and greenwashing crept back into the negotiations on Article 6 compliance markets. Labour's plan for a national energy company may allow public ownership to help commercialise and scale for needed grid infrastructure, green hydrogen, and carbon capture and storage around industrial hubs.
The Cameron-era decisions to block onshore wind development, slash energy efficiency funding, delay green building standards, and shelve carbon capture and storage (CCS) plans undermined UK energy security and slowed the clean energy transition. There are plenty more, a fair few of which are not fit to print. We should be getting clean.
An independent HS2 review published by the government today said there was a risk of the project running up costs as high as £100bn, almost double the £56bn budget forecast back in 2015, while also conceding that construction of the new rail network could push up carbon emissions.
Meanwhile, public polling suggests bailing out high carbon companies without attaching carbon reduction targets would be an unpopular move. With so many planes grounded, airlines are perhaps the most high profile example of struggling high carbon firms seeking state support to survive. "I
Meanwhile, Michigan approves a bundle of clean energy bills, the UN irons out details for the "loss and damages" fund ahead of COP, and Flexport launches a book and claim model for SAFs. Tech-enabled credits continue to constitute a big chunk of an anticipated $1T voluntary carbon market , and Oxy is on a development frenzy.
degrees Celsius above pre-industrial levels, reach carbon neutrality by 2050 and cut greenhouse gas emissions by 45 per cent from 2010 levels, by 2030. The key missing ingredient is a lack of political will he said: “Political will to put a price on carbon. Global average levels of carbon dioxide reached 407.8
Virtually all of the world’s largest companies now issue a sustainability report and set goals; more than 2,000 companies have set a science-based carbon target; and about one-third of Europe’s largest public companies have pledged to reach net zero by 2050. Maersk even advocated for a $150 per ton carbon tax on shipping fuel.
This comes as major polluters are increasingly deploying digital tactics to detract from negative headlines about their record profits and decades-long contribution to climate change. percent of their annual capital expenditures in low carbon technologies between 2010 and 2018.
Obviously we're all conscious about where we all need to get to - the trillions of dollars that need to flow into zero carbon goods and services and into resilience, and to support the 'just transition'. "The key thing now is for all of the parts of the finance sector to start to make this a reality," Preston tells BusinessGreen.
The government has unveiled further steps to curb the climate impact of transport, today announcing £37m of investment in developing electric cars, ships, and planes in the UK, alongside separate proposals to introduce lower carbon petrol at filling stations up and down the country.
COP talks each year are often fraught and progress remains far too slow, as today's IPCC report on escalating climate impacts will testify. As close observers of global climate diplomacy have long argued, if the COP process and the Paris Agreement did not exist you would have to invent them. The US left the treaty altogether briefly.
Meanwhile, the advertising sector has faced growing calls to stop taking work from high-carbon industries, with campaigners just this month accusing advertisers of plumping consumer demand for SUVs, cars that are hugely carbon intensive and are far bigger than buyers need in practice. The media is probably on red alert for it.
With the final round of pre-COP preparatory talks wrapped up yesterday and negotiations set to officially launch tomorrow following this afternoon's opening ceremony, businesses around the world should be paying close attention to developments in Montreal. What makes this COP so special?
Without deep carbon pollution cuts now, the 1.5-degree I am asking corporate leaders to support a minimum international carbon price and align their portfolios with the Paris Agreement. The good news is that we know what it will take to avoid a calamitous future and generate much-needed jobs and low-carbon, economic growth.
The next climate COP must bring more-ambitious climate pledges and long-term strategies for 2050 to help drive such shifts. If Global Britain is to mean anything, then Ministers must rise to the challenge of the COP Presidency and demonstrate real leadership now. But increased action must begin this year, not next year.
With pension investments unrestrained by borders, international agreement is going to be key if the potential for pension schemes to contribute to cutting carbon emissions is to be realised. "The challenges of climate change can be met only by countries coming together," said WPC chair Stephen Timms MP.
It warns that delays to copying EU energy and climate rules into UK law and a slew of "less effective" temporary arrangements are likely to have a negative impact on both UK and EU efforts to meet net zero goals.
BusinessGreen rounds up the best of the reaction from the low carbon economy to the government's flagship roadmap for achieving net zero emissions by 2050. Drax CEO Will Gardiner said: "The government's Net Zero Strategy, published today, is a key step forward as the UK looks towards a zero-carbon future.
In the southern Polish city of Katowice last December, news coverage of the UN’s COP 24 meeting on climate change suddenly and dramatically surged, mostly thanks to a three-minute speech given by a Swedish teen activist with Asperger’s syndrome and the amplifying power of social media.
As fears of a 'COP flop' get an airing, the battle to define what constitutes a successful Glasgow Summit is hotting up. The lesson of COPs past is that having to stand for hours in queues for security or being unable to easily find halfway decent food inevitably leads to frayed tempers. COP26 is having its first major wobble.
Reports suggest Number 10 is considering a radical overhaul of the UK's carbon taxes in a bid to spark global climate action ahead of COP26 Summit. Number 10 has instructed every department in government to propose a price for carbon emissions, in a move that could provide the basis for a major extension of the UK's carbon tax regime.
What is carbon accounting? Carbon accounting – also known as a carbon or greenhouse gas inventory – is the process of measuring the amount of carbon dioxide, or other greenhouse gases (GHG), an organization emits. Carbon accounting is a must for any becoming business today.
By 2030, it aims to produce 75,000 to 100,000 tons of Lithium Carbonate Equivalent (LCE), the refined product used in batteries, enough to power 1m EVs. Now, we have more details on what’s possible. In fusion news, three companies are making significant strides in the race to fusion.
COP president Sultan Al-Jaber, head of the UAE’s state oil company, faced accusations of using his position to promote fossil fuels. Those sectors have done well in recent years, but this year rising interest rates began to negatively impact the growth forecasts for many renewable energy companies.
While the total number has dropped compared to the record highs at COP28, the figures show that climate COPs continue to be a top priority for businesses working in agriculture, a sector that accounts for up to one-third of global greenhouse gas emissions. Russia followed with 13 delegates from the fertiliser industry.
billion) investment in carbon capture and storage by the mid-2020s. Labour is proposing a £250 billion ($330 billion) Green Transformation Fund that would bankroll both renewable and low-carbon energy, including new nuclear, as well as supporting an overhaul of transport infrastructure. This time next year the U.K.
It's the first time that both conventions have had 'super-summits' in the same year, with China due to host the CBD in October and the UK the climate COP in November. On the negative side, every international process like this depends on the 'big mo' - momentum. And so, perhaps, will the Glasgow COP. That's right.
About 200 countries are presently convened for the United Nations Climate Change Conference COP 25 in Madrid. The Conference of the Parties to the UN Convention on Climate Change (COP) is tasked with making sure the agreements under the Paris Climate Accord are met. degrees above if possible. degrees above if possible. and EU declined.
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