African Climate Summit: Ruto decries ‘unfair’ debt policies, Kerry pushes back on “climate reparations”
At the Africa Climate Summit, President William Ruto has decried what he termed as an “unfair” framework in the administration of the global financial system, saying the global West continues to disenfranchise Africans by imposing unjust debt repayment policies that are almost unmanageable. At the meeting, US Climate Envoy, John Kerry, when asked by the […]
EU willing to keep fighting for fossil fuels phase-out language at COP28
After earlier intimations that the EU would not fight for a phase out of fossil fuels at COP28 again this year (having previously failed on a number of occasions), a Carbon Pulse report notes that the EU is “going to come back” to the topic of a phase out at COP28.
Small island states criticise “endless” climate talks at maritime court hearing
Nine small island states have asked the International Tribunal For the Law of the Sea (ITLOS), to clarify the legal obligations of states in relation to climate change, a precedent which would be highly influential to other courts when ruling on other climate change related cases. In a hearing last week, the group asked the […]
COP28 president underscores the need to transform climate finance and overcome the $2.4 trillion gap
President-designate of COP28, Sultan Al Jaber, has written that “by 2030, the developing world will need more than $2.4 trillion to address climate change–not as a one-off, but every single year. Of this total, donor countries have committed to mobilize $100 billion annually, a small fraction of what is needed”. He affirmed that this requires […]
WTO says fragmentation and unilateral environmental rules are a risk to trade
The World Trade Organisation (WTO) has flagged a concern regarding the rise in fragmentation in international trade primarily caused by unilateral environmental measures such as the European Union’s Carbon Border Adjustment Mechanism (CBAM) and the Inflation Reduction Act (IRA) in the United States. The body has noted a nine-fold increase in the number of trade […]
Zimbabwe relaxes carbon law to increase profit share for developers
Zimbabwe has recently relaxed recent laws that govern the proceeds from carbon credit projects. The amendment does away with the requirement for developers to relinquish a quarter of their 70% profit share to local communities, according to a statement by the government on 27 September 2023. The state will still keep 30% but it will […]
Indonesian JETP delayed with foreign partners blamed
On 25 September a local Indonesian official said that Just Energy Transition Partnership (JETP) discussions relating to the early retirement of coal-fired power stations in the country are being forestalled because western countries are not ready to finance such projects. Challenges have arisen as a result of rising borrowing costs. Banks have also been reluctant […]
Research argues that BRICS expansion could transform the Bloc into a renewable energy leader
A report by Rystad Energy argues that the planned expansion of the BRICS bloc, through the addition of Saudi Arabia, Iran, United Arab Emirates (UAE), Egypt, Ethiopia and Argentina, will transform it into a global leader in renewable energy. According to Lars Nitter Havro, Senior Analyst, at Rystad Energy “the BRICS+ alliance is fundamentally reshaping […]
Congo argues that carbon credits should be worth more
Carbon credits produced in Africa and utilised by the private sector to offset their emissions should be at least 20 times more expensive than current prices, according to the Democratic Republic of Congo’s President Felix Tshisekedi and Republic of Congo’s President Denis Sassou Nguesso. A higher price would, they believe, dampen appetite for resource extraction and spur development in poorer countries, […]
European Commissioner Nominates Dutch Foreign Minister and ex Shell Employee to Lead on Climate
According to Climate Home News, the European Commission has nominated Dutch foreign minister Wopke Hoekstra to replace Frans Timmermans as its chief climate diplomat. Hoekstra has little to no climate experience, and his domestic climate record has also been criticised. There are concerns that he will be a conservative spender and will hold back funds […]
