Climate change funding talks stuck ahead of COP29 summit
With just five months to go before this year’s U.N. climate summit, countries cannot agree on the size of a global funding bill to help the developing world fight climate change – let alone how to split it.
As Kate Abnett reports, the decision is set to dominate the COP29 climate talks in Azerbaijan in November, where nearly 200 countries need to agree on a new financing target for helping poorer countries cut emissions and protect their societies in a harsher, hotter world.
The new target will replace the yearly $100 billion that rich countries had pledged in climate finance from 2020. That goal was met two years late.
Europe’s right wing swing may stall energy transition momentum
Gains by right wing parties in the recent European Parliament elections may stall the development of a slew of renewable energy projects across Europe.
Populist, nationalist and eurosceptic parties are on course to win just under a quarter of seats in the next European Union (EU) assembly.
And with nationalist prime ministers already leading Hungary, Italy and Slovakia, and right wing parties gaining influence in Germany, France, Spain and The Netherlands, the tenor of Europe’s political landscape looks set for an overhaul.
French renewables sector says far-right victory risks trouble for industry
The French renewable energy sector is bracing for a sharp slowdown in wind and solar projects if the far-right wins a majority in upcoming elections, just as new legislation was expected to boost the industry in nuclear-dominant France.
President Emmanuel Macron’s shock decision on Sunday to call a snap election could hand political power to Marine Le Pen’s far-right National Rally (RN) party, leaving it in charge of domestic policies including energy.
BRICS nations lift power emissions to new highs over rest of world
The BRICS group of major emerging economies – Brazil, Russia, India, China and South Africa – emitted a record 1.98 billion metric tons of carbon dioxide from power generation during the first quarter of 2024, data from think tank Ember shows.
That emissions toll was roughly 500 million tons greater than the entire emissions load generated by the rest of the world combined and highlights the diverging pollution trends between key fast-growing economies and developed countries.
Study details huge emissions resulting from Russia’s invasion of Ukraine
Russia’s invasion of Ukraine has directly caused or paved the way to the emission of 175 million tonnes of carbon dioxide (CO2) into the atmosphere, a joint report said on Thursday.
The report, published by Ukraine’s environment ministry and climate NGOs, said their estimate included both emissions that had been released and those that would be produced during repair work following the destruction caused by the invasion.
Europe’s gas surplus narrows as LNG redirected to Asia
Europe’s gas storage has got off to an unusually slow start to the refill season, narrowing the record seasonal surplus inherited from last winter and boosting prices back well above the long-term average, columnist John Kemp explains.
Inventories in the European Union and the United Kingdom have accumulated by just 148 terawatt-hours (TWh), or 2.1 TWh per day, since March 31, – the second slowest pace since 2012.
Vietnam eyes greener power but banks on coal to avert blackouts
Vietnam’s state-run electricity provider is trying to lead by example by turning off lights and reducing air conditioning, but many other businesses are ignoring the call to conserve power, Francesco Guarascio and Khanh Vu report here.
The duo atop the biggest and most contentious US LNG exporter
U.S. liquefied natural gas (LNG) exporter Venture Global LNG this year became one of the country’s largest producers of the superchilled gas and the industry’s most contentious supplier, facing contract claims by six customers.
The duo who founded the company, co-chairs Michael Sabel and Robert Pender, have turned the booming business upside down through strong contracts, good timing and a business plan to rapidly build three giant plants.
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