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Climate Targets

All articles tagged with #climate targets

environment2 months ago

China’s Emissions Stabilize as Clean-Energy Shift Gains Momentum

China's CO2 emissions have remained flat or decreased over the past 18 months due to rapid growth in solar and wind power, suggesting the country may reach its peak emissions ahead of schedule, although some sectors still lag in decarbonization. The country continues to pursue its dual goals of peak emissions by 2030 and net neutrality by 2060, with recent climate targets seen as modest but potentially surpassed, especially with upcoming policy plans.

via The Guardian|
#carbon-neutrality#china#climate-targets
environment1 year ago

"SBTi Faces Turmoil as Companies Seek to Use Carbon Offsets for Net Zero Targets"

The Science Based Targets initiative (SBTi) is facing internal turmoil as staff members call for the CEO's ouster and the reversal of a decision to allow companies to use carbon credits to offset greenhouse gas emissions from their value chain. This move, which has received mixed responses from stakeholders and NGOs, has sparked criticism over its potential to let companies off the hook for reducing emissions. The decision, which was made without consulting the technical advisory group, has led to resignations and demands for board members' resignation. Proponents argue that allowing offsets would help companies align with climate goals and attract investor support, while critics worry about its impact on emission reduction efforts.

via Reuters|
#carbon-offsetting#climate-targets#corporate-world
energy-policy1 year ago

"Push for Nuclear Power Revival Gains Momentum in Europe"

Pro-nuclear leaders and energy experts gathered in Brussels to advocate for a nuclear energy revival in Europe, citing its importance in meeting ambitious climate targets and reducing reliance on Russian gas. The push for nuclear energy faces challenges such as safety concerns and financing issues, but leaders are committed to unlocking the potential of nuclear energy through measures like extending the lifetime of existing reactors, constructing new power plants, and deploying advanced reactors. Financing and disconnecting from Russian technology are key issues, with calls for involvement of multilateral banks and support from the United States in eliminating restrictions on funding nuclear projects.

via Reuters|
#climate-targets#energy-policy#europe
business2 years ago

"Exxon Mobil's Legal Battle Over Shareholder Climate Proposals"

Exxon Mobil has filed a lawsuit in a Texas court to prevent activist investors from bringing a climate proposal up for a vote during the company’s shareholder meeting in May, marking the first time the company has taken such action. The lawsuit seeks to block the proposal, which calls for the adoption of tighter climate targets, from being included in the company’s proxy statement. Exxon argues that the repeated proposals don’t serve the best interests of investors, while the activists believe that setting Paris-aligned medium-term targets would be in shareholders’ best interest.

via Fox Business|
#activist-investors#business#climate-targets
energy-and-environment2 years ago

Global Renewable Energy Capacity Surges, On Track to Triple by 2030

The International Energy Agency reported that global renewable energy capacity grew by 50% in 2023, with solar power accounting for three-quarters of the new capacity. This growth puts the world on track to meet the pledge to triple renewable energy capacity by 2030, potentially reducing reliance on fossil fuels. Record growth rates across various countries are expected to lead to renewables overtaking coal as the largest source of global electricity generation by early 2025. However, challenges remain in financing and deploying renewables in emerging and developing economies to meet the tripling goal.

via The Guardian|
#climate-targets#energy-and-environment#global-electricity-generation
environment-climate-change2 years ago

"U.S. Greenhouse Gas Emissions Decline in 2023, But Not Enough to Meet Targets"

The United States reduced greenhouse gas emissions by 1.9% in 2023, but this decrease falls short of meeting the climate targets set by the Biden administration. The country needs much steeper cuts, particularly in reducing the use of fossil fuels, to meet its goals under the Paris Agreement. Despite a growing economy, the decline in emissions is attributed to the transition away from coal-fired power plants and a relatively mild winter. Additional policies are deemed necessary to sharply curtail the expansion of fossil fuels and meet climate goals for 2030 and beyond, as the Biden administration aims to use executive power to further cut emissions amidst a rapidly warming planet and increasing extreme weather events.

via NPR|
#biden-administration#climate-targets#environment-climate-change
energy2 years ago

Record High Global Coal Demand Expected in 2023

Global coal demand is projected to reach a record high of 8.5 billion tons in 2023, driven by strong demand in emerging economies like India and China. While coal use in the United States and the EU is expected to decline, the top three coal producers - China, India, and Indonesia - are increasing production. The International Energy Agency (IEA) predicts a decline in coal use after 2023 due to the expansion of renewable energy sources. However, the pace of renewable energy deployment in key Asian economies will determine the future of coal. The IEA emphasizes the need for greater efforts to meet international climate targets.

via OilPrice.com|
#climate-targets#emerging-economies#energy
climate-change2 years ago

"Meat's Climate Impact Takes Center Stage at COP28"

The United Nations COP28 summit in Dubai will feature a plant-based menu for two-thirds of the food served, highlighting the link between food systems and climate change. Meat and dairy production contribute significantly to greenhouse gas emissions and other environmental issues. However, while there is growing recognition of the need to reduce meat consumption, policymakers are hesitant to address the issue due to political challenges and industry influence. Shifting diets and implementing sustainable farming practices are both necessary to mitigate agricultural emissions, but the focus remains on technological solutions rather than dietary changes. The imbalance in meat consumption between wealthy countries and the Global South is a key challenge, and efforts to reduce meat consumption and promote plant-based alternatives face resistance.

via Vox.com|
#climate-change#climate-targets#cop28
energy2 years ago

Challenges to Biden's Climate Corps and Green Energy Targets

The Biden administration's climate targets are facing challenges as headwinds in green energy investment threaten to hinder progress. Despite the administration's push for renewable energy, investors are becoming increasingly cautious due to concerns over rising interest rates and inflation. This caution is leading to a slowdown in funding for clean energy projects, potentially jeopardizing the achievement of Biden's ambitious climate goals.

via Financial Times|
#climate-targets#energy#green-energy
environment2 years ago

Significant Drop in Deforestation Rates in Brazil's Amazon

Deforestation in Brazil's Amazon rainforest decreased by 56.8% in September compared to the previous year, according to government data. The total area cleared in the first nine months of the year also fell by 49.5%. President Lula da Silva's administration has made ending illegal deforestation a priority, and Brazil's Environment Minister announced more ambitious climate targets at the United Nations Summit. Despite the positive data, the Amazon is currently experiencing the worst drought in 40 years, increasing the risk of wildfires and impacting local communities' access to food and water.

via Reuters Canada|
#amazon-rainforest#brazil#climate-targets
energy2 years ago

OPEC Chief Criticizes Climate Targets as Overzealous, Calls for More Oil Investment

The head of OPEC, Haitham al-Ghais, has stated that recent adjustments and postponements of climate targets by countries indicate that some initial pledges were "overzealous." He emphasized the need for the right infrastructure, such as electrical grids and charging stations, to support an efficient energy transition away from fossil fuels. Al-Ghais cited examples like Poland's appeal against the EU's ban on fossil fuel car sales, the diluted version of the EU's emissions rules, and the UK's delay in prohibiting the sale of new gasoline and diesel cars. He also discussed the impact of high oil prices on consumers and rejected the International Energy Agency's projection of peak fossil fuel demand before 2030. OPEC's commitment to climate work will be showcased at the upcoming COP28, hosted by the United Arab Emirates, which has faced criticism for its growing oil production capacity and climate commitments.

via CNBC|
#climate-targets#energy#energy-transition
politics2 years ago

Trump praises Sunak's climate target adjustments as a strategic move

Former US President Donald Trump praised British Prime Minister Rishi Sunak for easing green policies, calling him "smart" for not bankrupting the nation for "fake climate alarmists." Sunak recently announced a roll-back of key UK green policies, including delaying the ban on sales of new petrol and diesel cars and providing more time for transitioning to heat pumps. While Sunak argues that the current climate policies risk losing public consent, he maintains his commitment to achieving net zero by 2050. Trump applauded Sunak for recognizing the "scam" of climate policies.

via POLITICO Europe|
#climate-targets#donald-trump#green-policies
energy2 years ago

Germany Set to Surpass 50% Renewable Power Milestone in 2023

Renewable energy sources are projected to generate over 50% of Germany's electricity in 2023, according to Economy Minister Robert Habeck. However, Habeck warned that Germany needs to accelerate the deployment of green energy to meet its climate targets for 2030 and beyond. In the first half of 2023, renewables accounted for around 52% of Germany's gross electricity consumption, a 3% increase compared to the same period last year. Germany aims to have renewables account for 80% of its electricity generation by 2030, but the current pace of installations is insufficient to achieve this goal. The country recently phased out nuclear energy, leading to a rise in coal-powered generation.

via OilPrice.com|
#climate-targets#electricity-generation#energy
climate-change2 years ago

Germany's Climate Efforts Fall Short of Targets, Experts Warn

Germany is likely to miss its goal of cutting greenhouse emissions by 65% by 2030, which casts doubt on its target of achieving net zero by 2045, according to reports by government climate advisers and the Federal Environment Agency. The reports highlight that the buildings and transport sectors are failing to implement necessary measures to meet the targets. The government's current policies are projected to achieve only 82% to 86% of the targeted emissions cuts compared to 1990. The transport sector, which accounts for two-thirds of the remaining emissions, is particularly problematic. Non-profit group Deutsche Umwelthilfe has called for an emergency climate program, including measures such as enforcing a speed limit on motorways and reducing environmentally harmful subsidies.

via Reuters|
#climate-change#climate-targets#germany