WTO Calls for Global Carbon Pricing, Acknowledges risk of Climate related Trade Measures on Developing Countries
The WTO continues to support the roll-out of carbon pricing in all countries to avoid litigation on current and future climate related trade measures, like the CBAM. However, it acknowledges that developing countries are at risk from these measures, and are especially impacted by short transition periods, a lack of financial capacity and a lack of infrastructure to adapt.
What to expect from African leaders at the Biodiversity COP
Ahead of COP16, African countries are looking to push for a global biodiversity fund under the direct control of the COP, meaningful indicators to measure the achievement of the global biodiversity targets, and obligatory payments for the use of digitally sequenced genetic information.
Zambia ill Prepared for Climate Disasters
In the wake of an extreme dry spell exacerbated by climate change, Zambia’s President Hichilema declared the drought a national disaster earlier this year. But is the country’s disaster management framework sufficiently robust, and is funding freed up by the hard-won debt-relief programme getting to the activities it needs to?
Does a Legal Challenge to the CBAM have Merit?
There have been numerous complaints and threatened legal actions against the EU’s CBAM alleging it violates global trade rules, but do these bear any prospect of success? Saweria Mwangi, a trade lawyer and former WTO dispute settlement attorney unpacks the legal underpinnings and merit of these claims.
Tax Cooperation and Climate Finance – Kicking the Can Down the Road to COP29
As the 79th UNGA comes to a close, the global community remains divided on how to address the climate finance gap. Despite some progress on framing an international tax convention, the discussion on taxation and climate finance continues to be sidestepped.
Bridging the Divide between Global Trade Policy and Climate Action
In response to the global push to shore up green technology developments, African countries are increasingly looking to localise benefits from green minerals. But they face higher tariffs on processed green minerals and products made from them. A more open discussion on how the global trade environment facilitates African green mineral beneficiation is needed at this year’s COP.
Water Insurance Rescues Climate Troubled Communities
Loss and damage discussions have continuously pointed to the need for insurance to fill the gap. Water insurance is becoming an increasingly popular mechanism in Africa, but does it have the enabling environment and financial backing to operate at scale?
African Ministers call for $1.3 trillion Climate Finance Target
At the African Ministerial Conference on the Environment, Ministers called for a new climate finance target of not less than US$1.3 trillion annually. This aligns with numbers put forward by India and the Arab Group, but developed countries have been overwhelmingly silent on what amounts they intend to propose.
African Carbon Projects Bear the Brunt of Market Dip
Last year’s carbon market downturn as a result of integrity concerns particularly impacted REDD+ and cookstove projects in Africa, which make up about 90% of its supply. If African countries really want to see a high integrity market that benefits local economies, they need to be working more closely with voluntary regional bodies and intiatives that seek to champion market reforms.
African Group of Negotiators Put Forward COP29 Positions
The African Group of Negotiators has settled on a set of positions it will take to COP29 in November in Baku. Reaching a fair, equitable and fit for purpose new finance goal remains front and centre. The group is also keen to reach agreement on key elements needed to operationalise the Global Goal on Adaptation, the Loss and Damage Fund, and Article 6 on carbon markets.