Vietnam agrees $15.5Bn Just Energy Transition Partnership
The JETP will mobilise an initial $15.5Bn of public and private finance over the next 3 to 5 years, in a deal similar to the ones signed by South Africa and Indonesia.
Deal to protect 30% of planet by 2030 controversially passed
The agreement sets a crucial financial target of $200Bn per year for conservation, though it sparked criticism from African nations calling out a ‘fraudulent’ procedure.
Gas industry globally coordinates, delays climate action – report
InfluenceMap shows the International Gas Union’s efforts to re-brand gas as green to counter the ‘existential’ threat climate change poses to the fossil industry’s future.
Britain sets out new legally binding environmental targets
The new targets are set for species populations, water, tree cover, waste management, air pollution and coastal protection.
Eastern European countries adopt emissions reduction goal
Western Balkan countries, Ukraine, Moldova and Georgia have adopted a 60.9% emission reduction target for 2030, in line with the EU’s own objectives.
DOE invests $3.7Bn for carbon dioxide removal
The effort spurs from the Inflation Reduction Act passed in summer and will target direct air capture and carbon utilisation projects.
European Union agrees law to fight global deforestation
Once adopted and applied, the new law will require deforestation-free supply chains, a first in the world
UN biodiversity talks open, billed as ‘last chance’ for nature
Delegates gather for the December 7-19 meeting to try to hammer out a new deal for nature: a 10-year framework to save the planet’s forests, oceans and species.
India announces $30Bn plan to upgrade grid for renewables
As it plans to nearly triple its renewables capacity by 2030, India revealed a 2.44 trillion rupee ($29.6Bn) plan for transmission lines to connect renewable generation.
Scotland’s climate targets ‘in danger of becoming meaningless’
The Scottish Government lacks a clear delivery plan and has not offered a coherent explanation for how its policies will achieve bold emissions reductions, says CCC.
1st US floating offshore wind auction raises $757m in bids
The leases to develop commercial-scale floating wind farms in the deep waters off California attracted $757m in winning bids from mostly European companies.
Canada moves to halt new overseas fossil fuel funding
The end of new public support for international fossil fuel projects will only cover ‘unabated’ projects and leaves room for natural gas power-generation projects.
EU Parliament adopts resolution to exit Energy Charter Treaty
European lawmakers adopted a resolution calling on the European Commission to have the EU exit the Energy Charter Treaty, following several member states’ exits
US commits to zero-emissions heavy trucks
The US has pledged to sell all zero-emission medium- and heavy-duty trucks and buses by 2040, signing the Global MoU on Zero-Emission trucks at COP27
First coral reef insurance policy issued in the US
The policy covers tropical storms for reefs in Hawaii and is the second of such policies after one was purchased to cover hurricane damage in Mexico.
US wants to sanction criminals behind deforestation in Brazil
The plan represents a change in the US strategy to tackle climate change, adding sanctions to its toolkit of tax incentives and multilateral agreements.
Norway and Switzerland to strengthen cooperation on CDR, CCS
Norway and Switzerland will strengthen cooperation on carbon capture and storage (CCS) and carbon dioxide removal (CDR) to support each country’s targets.
Canada unveils first climate adaptation strategy
Canada’s strategy sets targets for preventing extreme heat deaths, reversing species loss and protecting homes, with CAD$1.6Bn ($1.2Bn) invested over 5 years.
$20Bn Just Energy Transition Partnership launched in Indonesia
This JETP is the second of its kind after the launch of the JETP with South Africa at the COP26 in Glasgow. It unites financing from the EU, US, UK, Japan, and others.
US and China resume climate talks during COP27
China and US held ‘constructive’ climate talks with more to follow, as climate ambassadors Xie Zhenhua and John Kerry met at the UN-led global summit.