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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.
Maybe it was the offer of warm sun in December, but this year’s COP drew 100K attendees, almost double the size of COP15 in Paris. Climate tech played its biggest role ever at COP this year. The oil & gas COP. This was the COP of the climate and O&G juxtaposition. The greenwashing was unavoidable.
By Vrashabh Kapate Led by food and dairy giants the Bel Group, Danone, General Mills, Kraft Heinz, Lactalis USA, and Nestlé, as well as the Environmental Defense Fund, the Dairy Methane Action Alliance (DMAA) launched at COP28 last week in a COP Presidency event–to great global attention. Now, it’s time for follow-through.
Meat emits around a third of global emissions of methane, and action to cut this greenhouse gas has been identified by the UN and world leaders as the quickest route to slowing global heating. The science is also uncertain around soil’s ability to store carbon, which can be easily undone through erosion, or changes in land use or the weather.
In its application, submitted in partnership with the Kenya Climate Change Working Group (KCCWG), WBA highlighted the importance of tackling short-lived climate pollutants (SLCPs), in particular methane and black carbon, to achieve the Paris Agreement targets “to limit global warming to well below 2, preferably to 1.5°C,
Campaigners are hopeful next week's summit could further expand the coalition of nations that are working to deliver an ambitious new international accord in Kunming that would see all governments commit to giving 30 per cent of land and oceans protected status by 2030 and bolster natural carbon sinks in support of the world's climate goals.
Progress did seem to be forthcoming on cutting methane emissions, with more than 100 countries (although not China) – committing to a 30% reduction by 2030 compared to the 2030 baseline. Carbon trading. Each credit is equated to a tonne of carbon removed from the atmosphere, or not added in the first place. Carbon capture.
During September’s Climate Week in New York City, the world’s major food companies lined up to share their pro-nature credentials, claiming that they are embracing “regenerative agriculture” practices that will reduce their massive carbon footprint.
I attended this COP, my first, to learn more about how businesses can accelerate the transition to net zero and to share the findings of a new report, published today, that is a step-by-step playbook for companies to use to turn net zero pledges into progress.
With more than 80 times the warming of CO2 in the near term, one of the most potent greenhouse gases is methane–and it’s clear that we’re in the midst of a methane moment. Companies should also support farmers by investing in innovative solutions, particularly to tackle enteric methane.
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.
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 There are a variety of different sources of methane emissions and many solutions will be needed to curb those emissions.
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. Scientists say that unless swift action is taken, methane from agriculture alone will take us beyond a 1.5C
Carbon Mapper satellite rendering @ 2021, Planet Labs, Inc. But of course, those old-growth forests are not just some valueless raw material or natural resource, but home to countless Indigenous peoples, vast biodiversity, and the living machinery that not only stores carbon we emit but also helps make breathing on this planet possible.
The number of delegates representing big agribusiness has more than doubled at the UN climate talks since last year, leading to concerns from campaigners at access enjoyed by high-carbon companies attending the Egypt summit. Most corporations and lobby groups that attend the COP climate summits have “observer” status.
And all for a fuel that's hard to justify in a future low-carbon economy, requiring carbon capture technology (which has not yet been demonstrated at scale) and deeper emissions reductions elsewhere to compensate for methane leakage from fracking wells. On track to net zero.
COP28 President hints at UAE's priorities for Summit in maiden speech, as core principles for controversial plan to use voluntary carbon markets to bankroll energy transition are unveiled. We are determined to make COP28 a COP for all, and a COP of action.". Let's keep our focus on holding back emissions, not progress.".
It is highly likely the row over phasing down or phasing out coal power will return in the coming years and the debate at future COPs will no doubt be extended to address oil and gas. Rules on carbon markets finally wrapped. Polluters have been put on notice. temperature target stands tall.
The IKEA Foundation has today announced plans to deploy an additional €600m of funding in climate-related projects, as it unveiled a new study detailing how philanthropic institutions can maximise carbon savings through their activities.
Alok Sharma intent on holding 'most inclusive COP ever' in Glasgow, but it is not UK's gift alone to make in-person event happen. This is what makes the next United Nations Climate Conference in Glasgow, COP 26, so critical. If we are serious about 1.5C, Glasgow must be the COP that consigns coal power to history," he said.
Put a price on carbon. I also want particularly to thank COP President Alok Sharma who has worked incredibly hard to bring countries together. Despite the Covid-19 crisis, we have accelerated action, the COP has responded to the IPCC's call to close the gap towards 1.5, Phase out coal. and coal is in the text.
Glasgow moved us a step closer to this goal, with almost 200 countries pledging to “phase down” unabated coal power in the final text (“unabated” refers to coal power without carbon capture and storage). Finance is shifting away from fossil fuels .
The findings further fuelled the cautiously optimistic mood that has built up during the first week of talks at COP26, which has seen a raft of new net zero pledges from emerging economies and a series of global deals to increase flows of climate finance, better protect forests, accelerate clean tech deployment, and curb methane emissions.
Both nations have agreed to take steps to reduce methane emissions, to make greater efforts to de-carbonize and to actively transition to clean energy. A similar amount of countries also committed to cutting 30% of methane emissions by the end of the decade. gap is closed”.
The previous timetable for updating NDCs would have meant they would only have been improved once or maybe twice before the available carbon budget for 1.5C From tackling deforestation to curbing methane emissions, the various multilateral commitments are focused on areas where they can have real impact. trajectory. is barely alive.
The first few days of COP have ushered in a wave of major announcements and funding pledges. Countries and companies have also kicked off pledges to triple investments in renewables and nuclear, drive down methane emissions, and commit loss and damage funds. Execution questions marks. and raising the remaining $23.5
And the suggested text invites parties to "consider further actions to reduce by 2030 non-carbon dioxide greenhouse gas emissions, including methane". Including a specific mention of methane in the final agreement has been a leading demand of parties such as the UK and EU over the past week.
It will be an extraordinary COP in extraordinary times," he will say. For example, Reuters reported yesterday that two dozen countries have now signed up to a US and EU-led effort to slash methane emissions 30 per cent by 2030. But collectively, we must pull together to make it work. Forging unity from the unfamiliar.
The curbing of emissions to reduce the concentration of greenhouse gases such as carbon dioxide and methane in the environment. Following years of delays, at COP21 last year countries agreed on rules for the implementation of international carbon market mechanisms. Black carbon. Carbon market (including carbon offsets).
Today at COP26, the World Business Council for Sustainable Development announced the Banking for Impact on Climate in Agriculture (B4ICA) initiative in partnership with EDF, the United Nations Environment Programme Finance Initiative and the Partnership for Carbon Accounting Financials.
Whilst there remains some work to do to ensure the rules are robust enough to prevent double counting of emission reduction credits, some important progress has been made towards setting up a regulated global market for carbon trading, which could have positive knock-on impacts on investment in nature restoration and emission reduction projects.
But this potential problem has to be set against the fact that the global carbon budget is being burnt through so quickly that the world may have had just one more cycle of improved NDCs to be submitted in 2025 before 1.5C Future COPs will re-open this debate and seek to extend it to gas and oil. would be truly dead and buried.
This is the first COP where participants found themselves face-to-face with the reality of breaching the 1.5 New federal methane regulations, investment tax credits and the emissions cap on the oil and gas industry are – setting aside the objections from certain premiers – the right moves.
Meanwhile, global emissions are spiralling upwards again as the economy recovers and surging fossil fuel prices are driving fears that a new wave of high carbon infrastructure investment could yet be unleashed. Altogether, that would make for a 40 per cent cut in overall methane emissions by 2030. pathway by 2030.
From Loss and Damage and just transitions to rows over fossil fuel phase outs and carbon markets, we take a look at some of the key lessons for businesses from COP27. Like the World Cup that kicked off within hours of the gavel coming down in Sharm El Sheikh, COPs provide a regular temperature check for global geopolitics.
The wording prompted some observers to speculate "low-emission" energy could be interpreted as including unabated gas power, but others argued it was a reference to nuclear and carbon capture and storage projects. This COP caused deep frustrations but it wasn't for nothing," she said. "It warming target.
The UK remains COP President until next November, when it will hand the baton over to Egypt, which is set host the COP27 Summit at the Red Sea beach resort of Sharm-el Sheikh. Indeed, there is no shortage of world-changing points of action for Sharma's COP team to be getting on with over the coming months.
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. Livestock genomics and regen ag left in the dirt.
Speaking earlier, Johnson acknowledged that while there had been a flurry of "game-changing announcements" on methane, deforestation and finance last week, the Summit was now "firmly in the hard yards of international diplomacy", adding that "with a few days left there is still a huge amount to do".
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.
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.
The report said that during the final quarter of last year major developments in the EU, US, Canada, and Australia signaled an increase in policy ambition in support of clean power, low carbon industry, sustainable transport, and green building development, with efforts to tackle methane from oil, gas, and agriculture also beginning to emerge.
That’s at risk of happening now as major asset managers have remained silent on a proposed new Environmental Protection Agency rule requiring oil and gas producers to cut their methane emissions. The EPA comment period for the proposed methane regulations lasts until Jan. Methane regulation: Low-hanging fruit on the path to net-zero.
In November, I had the privilege to represent Schneider Electric at the UN's Conference of Parties (COP) on climate change in Glasgow. This COP was unlike the previous 25 iterations, in that it took place during a global pandemic. One aim of the conference was to 'keep 1.5 degree Celsius warming trajectory. Bottom Line for Business.
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