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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.
Japan Announced at COP 27, the joint declaration by key natural gas exporters, the United States, Norway and Canada, and importers, the European Union, Japan and Singapore, demonstrates the growing recognition that the supply and demand sides of energy markets must work together to reduce global methane emissions.
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. Nature-based solutions” is one of the only phrases linked to agriculture to be mentioned in the COP cover text.
Meat and dairy firms in particular are coming under increasing scrutiny due to pollution from livestock, which emits around a third of the global output of methane, a short-lived greenhouse gas identified as the quickest route to slowing global heating. Pesticide company Syngenta’s Foundation came with Ukraine.
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.
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.
Since these standards were developed, the demand for carbon offsets has increased over the years. It’s estimated that it will be ~51 years for oil, ~114 years for coal, and ~53 years for gas reserves to diminish, based on current demand estimates and reserves. To facilitate this rise, other certification programs have come into effect.
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
The gas crunch gripping Europe is directly caused by volatile international gas markets that expose the UK to demand surges in Asia and political manipulation by Putin. However, fossil fuel enthusiasts are actually suggesting the opposite, by demanding that the UK should revisit its unsuccessful dalliance with fracking for shale gas.
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. If there's one theme that really comes out loud and clear from this COP, it is about money," said former Energy and Climate Change Secretary Amber Rudd.
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, Greenwashing is the new climate denial, and we have seen too much at play in this COP.
However, much work remains: coal still accounts for at least one-third of global electricity generation, and, in spite of the clear link between coal burning and higher temperatures, its use has increased in 2021 as economies reopened and energy demand shot up. 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.
From tackling deforestation to curbing methane emissions, the various multilateral commitments are focused on areas where they can have real impact. There was definitely some spin and duplication of effort going on, but the vast majority of the announcements point to how decarbonisation efforts can be drastically accelerated.
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.
This is the first COP where participants found themselves face-to-face with the reality of breaching the 1.5 To anyone paying attention to global oil and gas demand future forecasts, even under existing policies , the COP28 agreement should not be a surprise. C warming limit that was the central aspiration of the 2015 Paris Agreement.
Future COPs will re-open this debate and seek to extend it to gas and oil. If COPs did not exist you would have to invent them. Phase out or down is semantics, but the recognition is there that fossil fuels are the problem. The Paris Agreement was hailed as the beginning of the end of the fossil fuel age.
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.
This COP caused deep frustrations but it wasn't for nothing," she said. "It Writing on Twitter, Tan Copsey at consultancy Climate Nexus, said: "The fossil fuel lobby and friendly countries have made their presence felt at COP, but it's clear momentum is still only going in one direction - towards a clean energy economy.
And it has pledged to align the renumeration of its executive directors with progress against climate commitments and incorporate methane into its greenhouse gas emissions accounting for the energy sector. aligned scenario". ShareAction senior research officer Lydia Marsden warned the plan included a "number of troubling loopholes".
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".
This is an all-hands-on-deck moment for everyone to rise up and demand their leaders take bold climate action like our future depends on it, because it absolutely does.". Key to keeping 1.5C ‘alive' will be a marked reduction in the release of highly-potent methane emissions, which could rapidly slow temperature rise.
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. In reality, the current pledges align more closely to 2.7 Bottom Line for Business.
He wrote a letter to governments in attendance that says, “phasing down demand for, and supply of, all fossil fuels is inevitable and essential” (emphasis mine). And during COP28, they’ll host a meeting to address methane pollution, an even more potent greenhouse gas than CO2. Phasing down rather than out is decidedly weaker language.
The tech sector can help deliver on COP26 promises such as curbing methane, ending fossil fuel finance and reversing deforestation, explains techUK's Craig Mason. This is the first time that a COP agreement has been made on coal at this level. Global curbs to methane. Tech has two important roles in the wake of this agreement.
Lithium is a key part of EV batteries, and demand for it has tripled in the past 5 years. Global EV adoption targets could drive demand for lithium up to 40x by 2040 compared to 2020, according to the IEA. As demand for critical minerals is surging, industry isn’t keeping pace with needed supply.
Such businesses better meet the demands of the regulatory environment while coming into alignment with investor, consumer, and employee preferences. Since the convention’s establishment, the countries involved meet annually during the Conference of the Parties (COP). 30 years later came COP 26 (2021) – held in Glasgow.
COP president Sultan Al-Jaber, head of the UAE’s state oil company, faced accusations of using his position to promote fossil fuels. Critics argued that the agreement on transitioning away from fossil fuels was weak and riddled with loopholes, lacking concrete steps and allowing continued reliance on fossil fuels.
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. Brazil’s COP29 pavilion. Thai activist Permpibul was concerned by DeSmog’s findings. “By
Campaigners and climate scientists had hoped the summit – which was billed as a “Food COP” due to its focus on farming – would see governments agree to ambitious action to transform food systems in line with the goals of the Paris climate agreement. Burr added that COPs provided an opportunity for U.S. This is especially true in the U.S,
Other demands include cutting methane emissions by 30 per cent between 2020 and 2030, working to tackle other damaging pollutants, and taking more ambitious action to decarbonise transport such as aviation and shipping. — Nick Mabey (@Mabeytweet) November 2, 2021.
From President Biden to methane pledges, BusinessGreen explores the biggest developments on the fifth full day of the pivotal climate talks in Sharm EL Sheikh. Biden's address also set out his administration's plans to crackdown on methane leaks in the US' fossil fuel industry.
Whether or not the move indicates a softening of China's long term support for decarbonisation is contested, but it has highlighted how the transition away from fossil fuels is likely to lead to significant price volatility and energy security concerns, as economies battle to match supply and demand. There are two sleeping risks," said Mabey.
O&G is going to continue to consolidate their own industry and those that are related (methane, CCUS, software stacks) will get eaten up. Big demand funnel even with the lower quality credits exiting the supply. An Article 6 agreement at COP could be the wildcard here. Amy : All things methane! Joshua : No!
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