Monday, 10 February 2025.
The Curves of the Local weather Paths. In a context of power transition with a speedy progress of photo voltaic power, the IMF revealed that annual subsidies for fossil fuels exceed US$ 7 trillion, whereas the World Financial institution highlighted that the exterior debt of creating nations reached US$ 8.8 trillion. Celebration of the tenth anniversary of the Paris Settlement and preparations for COP30. China, India, and Brazil are transferring their carbon markets. And far more, together with occasions and alternatives. 🔔 Learn right here the week’s clippings.
IMF Reveals: Fossil Gas Subsidies Exceed US$ 7 Trillion Yearly
Considerably larger than beforehand thought, the IMF highlights the magnitude of worldwide fossil gasoline subsidies. The estimate, which incorporates each direct subsidies and unreflected environmental prices, represents 7.1% of the 2022 world GDP. In accordance with the IMF, reforming these subsidies might have substantial fiscal, environmental, and social impacts, benefiting each governments and the surroundings. Click here for the portalwhich features a suggestion for this reform plan with 6 “ingredients.”
World Financial institution: Exterior Debt of Creating International locations Soars to US$ 8.8 Trillion
The “International Debt Report 2024” signifies that the exterior debt of low- and middle-income nations has elevated considerably, reaching a complete of US$ 8.8 trillion. The World Financial institution highlights that the strain to pay excessive rates of interest has led nations to face price range constraints, forcing many to chop spending on sustainable growth initiatives, which might delay efforts to fight local weather change and protect biodiversity, in addition to restrict their investments in different important areas corresponding to well being and schooling. Click here for the report.
Our World in Information: Fast Progress in Photo voltaic Vitality Set up from 2004 to 2023
Whereas in 2004 it took a few yr to put in one gigawatt (GW), in 2023, this capability was added day by day. That is proper, day by day! As a reference, one GW of power is sufficient to energy a metropolis like New York, London, or Sydney for about one month. All due to decreased photo voltaic panel prices, authorities assist, and technological developments. See the full article.
The Curves of the Local weather Paths: COP30 in Brazil and the tenth Anniversary of the Paris Settlement
The UNFCCC Government Secretary, Simon Stiell and the Designated President of COP30 met this week in Brasília. Amongst numerous subjects, they mentioned the significance of nations submitting new local weather plans by September 2025 for inclusion within the NDC Synthesis Report, which shall be revealed earlier than COP30. Stiell additionally expressed confidence in Brazil’s capacity to prepare a profitable COP30. He highlighted the architect who designed each Brasília and the UN Headquarters in New York: “I’m told that Niemeyer broke the mould, in part by moving away from rigid, straight lines to embrace curves and fluidity. Lines that remain purposeful and highly functional, while also reflecting our humanity.”
Final Week: Ecuador, Lesotho, Saint Lucia, Andorra, and New Zealand Additionally Replace Their NDCs
And relating to Article 6, we famous the next references in a few of these new Nationally Decided Contributions:
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New Zealand: “New Zealand aims to achieve our second NDC primarily through domestic emissions reductions and removals. We recognise the value of international cooperation and may participate in cooperation under Article 6 during the NDC period.”
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Saint Lucia: “Saint Lucia is considering the potential role of Article 6 in delivering its NDC.”
Paris Settlement: Is Indonesia Following the US in Withdrawal?
A couple of days in the past, Indonesia’s particular envoy for local weather change and power commented on the US withdrawal from the Paris Settlement: “This is a matter of justice. Indonesia produces 3 tons
In accordance with various sourcesthe Brazilian Ministry of Finance recently indicated to the Interministerial Committee on Climate Change (CIM) that studies are underway to create a regulatory agency responsible for managing the carbon market in the country. As the minutes from the last CIM meeting are not yet available, it is worth monitoring the matter.
A few days ago, eight securities brokers were authorized to participate in the domestic carbon markets in China, using their own funds to increase capital liquidity and reduce transaction costs. By the end of 2024, the trading volume in China’s carbon market reached 630 million tons, with a cumulative value of 43.03 billion yuan (US$5.91 billion). The entry of these brokers into the carbon market aims to improve the carbon pricing mechanism and help companies achieve emission reduction targets economically. Read more in China Daily.
Recently, Google signed an agreement with Varaha to purchase carbon credits from Indian farms. This agreement is one of the largest involving biochar, a material that removes carbon dioxide from the atmosphere and returns it to the soil. Google will purchase 100,000 tons of carbon credits by 2030 as part of its initiative to offset its emissions. See the Linkedin submit by Madhur Jainco-founder and president of Varaha, and go to the company’s website for extra particulars concerning the biochar venture.
A recent publication by the International Air Transport Association (IATA) presents a detailed methodology for accounting and reporting emission reductions associated with the use of Sustainable Aviation Fuel (SAF). This methodology was developed to ensure that the emission reductions achieved through the use of SAF are accounted for consistently, transparently, and accurately. It also represents an important step in the preparation of the IATA SAF Registry, which will be launched in April 2025 and will play a crucial role in creating a functional global market for SAF.
The Article from Sae Brazil explores the energy transition in heavy vehicles, highlighting the increasing use of biofuels. It mentions that in Brazil, flex-fuel engines (gasoline and ethanol) are common in passenger vehicles, but there are no options for ethanol-powered cargo vehicles yet. The article also points out natural gas as an important alternative due to its lower CO2 emission factor compared to diesel and gasoline. According to OECD data, Brazil is responsible for 24.3% of the world’s biofuel production.
On February 5, 2025the Japan Bank for International Cooperation (JBIC) and the Brazilian Ministry of Development, Industry, Trade, and Services (MDIC) discussed the possibility of jointly financing energy transition and green economy projects. JBIC expressed interest in supporting Brazilian initiatives focused on decarbonization and environmental sustainability.
The new edition of “It is worth asking” addresses the paradoxical relationship between artificial intelligence (AI) and the environment, showing how these technologies can both exacerbate and positively contribute to climate challenges. It also explores the concentration of power among large companies in the AI field and the challenges of regulating and promoting sustainability in this sector, emphasizing the potential benefits and risks for Brazil. Four experts share their insights. Watch it here.
This episode will deal with accounting for greenhouse gasoline (GHG) emissions and discover how firms can put together disclosures in accordance with IFRS S2. GHG emissions disclosures will develop into an integral a part of standard monetary reporting for jurisdictions that undertake the ISSB Requirements. Click here for more information.
Bringing together experts, regulators, government representatives, financiers, and market agents, the event will focus on discussing topics such as economic projections, geopolitical risks, the impacts of investment funds, and the infrastructure capital and debentures market. Issues related to the energy transition and carbon emission reductions in the infrastructure sector will also be addressed by the panelists. It will be held at Arena B3, Historic Center of São Paulo, Brazil. Register here.
HR/Payroll Officerhybrid function working in Geneva.
Registration until February 23, 2025.
Policy Advisorfull -time contract, based on Brazil 🇧🇷
HR/Payroll Officerhybrid role working in Geneva.
Applications due by February 23, 2025.
Policy Advisorfull-time contract, based in Brazil 🇧🇷
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