Monday, February 10, 2025.
The curves of the local weather paths. At a conjuncture of power transition with dizzying progress of photo voltaic power, the IMF revealed that annual subsidies to fossil fuels exceed $ 7 trillion, whereas the World Financial institution confused that the overseas debt of growing nations reached $ 8.8 trillion. Celebration of the tenth anniversary of the Paris Settlement and COP30 preparations. China, India and Brazil shifting its carbon market. And way more, together with occasions and alternatives. 🔔 Learn right here the clipping of the week.
IMF reveals: fossil gas subsidies exceed US $ 7 trillion yearly
Considerably larger than beforehand thought, the IMF highlights the magnitude of worldwide subsidies to fossil fuels. The estimate, which incorporates each direct subsidies and environmental prices not mirrored in costs, would symbolize 7.1% of world GDP of 2022. In response to the IMF, reforming these subsidies may have substantial tax, environmental and social impacts, benefiting each governments and The setting. Click here to the portalwhich features a suggestion for this reform plan with 6 “ingredients”.
World Financial institution: Overseas debt of growing nations fires to $ 8.8 trillion
Worldwide Debt Report 2024 signifies that the overseas debt of low and medium -income nations has elevated considerably, reaching a complete of $ 8.8 trillion, the World Financial institution factors out that the strain to pay excessive rates of interest has led nations to face funds restrictions, compelled A lot of them to chop spending on sustainable improvement tasks, which can delay efforts to fight local weather change and protect biodiversity, in addition to restrict their investments in different essential areas equivalent to well being and schooling. Click here to the report.
Our World In Knowledge: Vertiginous progress within the set up of photo voltaic power from 2004 to 2023
Whereas in 2004 it took a couple of yr to put in a Gigawatt (GW) in 2023, this capability was added each day. That is proper, each day! As a reference, a GW of power is enough to feed a metropolis like New York, London or Sidney for about 1 month. And all this due to the discount of the prices of photo voltaic panels, authorities assist and technological advances. See full article.
The curves of the local weather paths: COP30 in Brazil and celebration of the tenth anniversary of the Paris Settlement
Govt Secretary of UNFCCC and the designated president of COP30 gathered this week in Brasilia. Amongst a number of topics, they mentioned the significance of submission of latest local weather plans by nations by September 2025, aiming at their inclusion within the NDC Abstract Report, which will likely be revealed earlier than COP30. Stiell additionally expressed confidence in Brazil’s potential to arrange a profitable COP30. Attention-grabbing to spotlight what he talked about at first of Your speechin regards to the architect that projected each town of Brasilia and the United Nations 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, Lesoto, Saint Lucia, Andorra and New Zealand additionally replace their NDCs
Concerning Article 6, we observed the next positions in a few of these new Nationally Decided Contributions:
-
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.”
-
Santa Lucia: “Saint Lucia is considering the potential role of Article 6 in delivering its NDC.”
Paris Settlement: Indonesia following US footsteps?
A number of days in the past Indonesia’s particular envoy for local weather change and power commented on the US departure from the Paris Settlement: “This is a matter of justice. Indonesia produces 3 tons <per capita per year> of carbon while the US produces 13 tons, yet we are the ones being told to close our power plants and reduce our steam power plants. So, where is the sense of justice here? … Indonesia always wants to be ‘a good boy.’ But the ‘big boys’ are not necessarily ‘good boys’ either, right?”. Read in Antara News.
Second Several sourcesthe Ministry of Finance signaled a few days ago to the Interministerial Committee on Climate Change (CIM) Brazilian Studies to create a regulatory agency responsible for the administration of the carbon market in the country. As the minutes of the last DPO CIM meeting is not yet available, it is worth monitor the subject.
A few days ago, eight value brokerages were allowed to participate in home carbon markets in China, using their own funds to increase capital liquidity and reduce transaction costs. By the end of 2024, China’s carbon market negotiation volume reached 630 million tons, with an accumulated value of 43.03 billion yuans (US $ 5.91 billion). The entry of these brokerages in the carbon market aims to improve the carbon pricing mechanism and help companies achieve emission reduction goals in an economically way. Read more in China Daily.
Google has recently signed an agreement with Varaha to buy 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 to the ground. Google will buy 100,000 tons of carbon credits by 2030 as part of its initiative to compensate for its emissions. Look Submit no linkedin de madhur jainco-founder and president of Varaha and here the company’s websitebegins coping with the biochar challenge in query.
Recent publication of the International Air Transport Association (IATA) deals with detailed methodology for accounting and reporting of emission reductions associated with the use of sustainable fuel for aviation (SAF). This methodology has been developed to ensure that emissions reductions achieved by the use of SAF are consistent, transparent and accurately accounted for. It also represents an important step in preparing the IATA SAF record, which will be launched in April 2025 and will play a crucial role in creating a functional global market for SAF. Be sure to read.
O SAE BRASIL ARTICLE Explore the energy transition in heavy vehicles, highlighting the growing use of biofuels. He mentions that in Brazil, flexfuel (gasoline and ethanol) engines are common in passenger vehicles, but there are no engine options that use ethanol for cargo vehicles. The article also points to 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 world biofuel production.
On February 5, 2025, the Japanese Bank for International Cooperation (JBIC) and Brazil’s Ministry of Development, Industry, Commerce and Services (MDIC) discussed the possibility of funding energy transition projects and green economy together. JBIC showed interest in supporting Brazilian initiatives aimed at decarbonization and environmental sustainability. read more.
The new edition of “It is worth asking” addresses the paradoxical relationship between artificial intelligence (AI) and environment, showing how these technologies can both aggravate and contribute positively to climate challenges. In addition, it explores the concentration of power of large companies in the field of AI and the challenges of regulating and promoting sustainability in this sector, emphasizing potential benefits and risks to Brazil. Four experts share their ideas. Watch.
February 13, 2025, IFRS: seventh Episode “Perspectives on sustainability disclosure”
Episode will deal with accounting for greenhouse fuel (GHG) emissions and discover how firms can put together disclosures in accordance with IFRS S2. Greenhouse fuel disclosures will turn out to be an integral a part of typical monetary reviews for the Jurisdictions that undertake ISSB requirements. Click here for more information.
Bringing together experts, regulators, representatives of governments, financiers and market agents, the event will focus on discussing topics such as economic projections, geopolitical risks, investment funds impacts and the capital markets and infrastructure debentures. Energy transition issues and the reduction of carbon emissions in the infrastructure sector should also be addressed by panelists. It will be at Arena B3, historic center of São Paulo, Brazil. Subscribe.
HR/Payroll Officerhybrid function working in Geneva.
Registration until February 23, 2025.
Policy Advisorfull -time contract, based on Brazil 🇧🇷
Did you prefer it? Register www.carboncreditmarkets.com For all our beneficial insightsnews and media updates. And to publicize your initiatives or if you are interested in documentation and diligence related to NBS carbon credits in Brazil, visit our new portal, Global Search https://www.busca.global
